The chickpea market size is expected to reach US$ 12,862.5 Million in 2022 and grow to US$ 21,763.6 Million by 2032 at a CAGR of 5.4 % during the forecast period.
COVID-19’s global impact has been unprecedented and shocking, with demand for chickpeas plummeting across the board as a result of the outbreak and altering future patterns in the chickpea business.
Plant-based diets are both safer and healthier than animal-based diets. Veganism’s expanding global appeal is a major factor driving the chickpea market. Chickpeas’ growing market appeal, as well as their adaptability in application, are the key reasons for their growing acceptance.
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Chickpeas have been connected to a number of health advantages. They have been found in studies to help decrease cholesterol and blood pressure. They may also aid in the improvement of blood sugar management in diabetics. Chickpeas may also help you lose weight by making you feel full and content after meals. This has increased consumer affinity for it and has accelerated the major trends and opportunities in the Chickpea market.
Another element influencing Chickpea sales growth The nutritious content of chickpeas is another element driving their growing sales. Chickpeas are high in protein, fibre, and iron, making them a nutritious choice for individuals searching for a light snack. To keep up with chickpea market trends, manufacturers are creating unique ways to include this commodity into diverse processed foods.
Key Takeaways:
- In terms of form, the dried segment is expected to account for a market share of 60 % in 2022.
- Desi chickpeas has a significant value share of the chickpea market, accounting for 5% in 2022 and expected to reach US$ 24 billion.
- During the forecast period, the Chickpea market in the United Kingdom is expected to grow at a rapid CAGR of 5.2%.
- During the forecast period, the Germany Chickpea market is expected to grow at a high CAGR of 27.3%.
- In the North American Region, the Chickpea market for Chickpea products is dominated by the United States, with a Chickpea market share of 30.6%.
- In terms of Chickpea market size, the United States is expected to have a total market capitalization of US$ 42 billion in 2022.
“Chickpea is a versatile ingredient that has a wide array of applications from Boost Energy and Muscle Building products. With rising health awareness and lactose intolerance, consumers are shifting towards Chickpea owing to its organic, natural, plant-based characteristics which will assist the growth of the market segment,” says a lead analyst at Future Market Insights.
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Competitive landscape:
Top 5 manufacturers of Chickpea are AGT Food and Ingredients, BroadGrain Commodities, Inc., and The Wimmera Grain Store. holding 20% to 30% Chickpea market share.
Companies are using Chickpea in their products. The natural properties of chickpeas make it an ideal ingredient for many different products. Chickpea flour is gluten-free and has a high protein content, making it perfect for use in gluten-free and high-protein foods. Chickpeas can also be used to create vegan cheese and mayonnaise. With increasing, research and development and technological advancement companies are finding new techniques to effectively use chickpeas and Snacks to their maximum potential.
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Future Market Insights, in its new offering, provides an unbiased analysis of Chickpea presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study provides valuable insight on the Chickpea market based on By Type (Kabuli Chickpea, Indian Chickpea, Garbanzo Beans, Desi Chickpeas, Others), By Color (Yellow, Brown, Green, Red), By Form (Dried, Fresh, Canned, Frozen, Others), By Application (Direct Consumption, Snacks, Delicacies, Dips, Others), By Distribution Channel (Supermarkets/Hypermarkets, Departmental Stores, Convenience Stores, Specialty Stores, Online Stores, Others)
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