Chickpea Protein Market on Track to Reach $165.1 Million by 2033 | FMI

The global chickpea protein market is predicted to register a CAGR of 5.1% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 100.9 million in 2023 to US$ 165.1 million by 2033 end.

Chickpea protein consumption is anticipated to increase due to increasing demand from the food industry. The extensive use of chickpea protein in the food and pastry kitchen industry is expected to positively influence over the next 10 years. An increasing shift in food consumption patterns favoring meat electives and prepared food items is predicted to stimulate market growth.

Development of alternative meat formulations for categories like snacks, dressings, etc., is forecast to catalyze market development in the coming years. The affordability, versatility, and nutrient-rich properties of chickpeas are expected to help the market incline forward. The usage of chickpea protein for weight management, safety from chronic diseases, and stimulating other aspects of health is projected to push the market growth in the years to come.

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Top Highlights from the FMI’s Analysis of the Chickpea Protein Market: 

• North America is assessed to lead the global market over the next 10 years. The United States chickpea protein industry is projected to attain US$ 53.6 million by 2033. The CAGR assumed for the United States market is anticipated to be 4.7% over the forecast period.
• In the Europe region, Germany is projected to hold a significant market percentage. The German market is anticipated to attain US$ 13.21 million by 2033. Over the forecast period, the market is expected to expand at 4.4% CAGR.
• The United Kingdom market is predicted to attain US$ 8.3 million by the end of 2033. Over the upcoming years, the market is anticipated to register a 3.6% CAGR.
• In the European region, the Spain market is expected to exhibit significant growth, expanding at a CAGR of 5.2% over the forecast period. The market is set to achieve a market valuation of US$ 7.1 million by 2033.
• Within the Asia Pacific region, China’s contribution is anticipated to stand out. By the end of 2033, the China market is expected to attain US$ 17.8 million. The market is projected to perceive a growth rate of 6.4% over the forthcoming years.
• The protein isolates segment, based on product type, is expected to register a 5.4% CAGR, up from the 3.6% CAGR observed in the historical period.
• The conventional chickpea protein vertical, based on nature, is projected to expand at a CAGR of 5% from 2023 to 2033, lifting from the 3.3% CAGR witnessed in recent years.

Key Developments Stirring Up the Marketplace

• In March 2023, new, innovative food products developed using InnovoPro’s chickpea protein are planned to be showcased in snacks, dressings, dairy, and meat alternatives categories. These newly developed products are expected to be showcased at Natural Products Expo West 2023.
• In September 2022, Ingredion Inc. announced its equity stake in InnovoPro, a chickpea ingredient developer.

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Key Players:

• Batory Foods
• Ingredion Inc.
• Archer Daniels Midland Company
• PLT Health Solutions
• Chickplease
• Cambridge Commodities Ltd
• AGT Food and Ingredients

Key segments

By Product Type:

• Protein Isolates
• Protein Concentrates
• Flour
• Other Product Types

By Nature:

• Organic
• Conventional

By End User:

• Food Processing
  • Bakery & Confectionery
  • Meat Alternatives
  • Functional Foods
  • Dairy Replacements
  • Infant Foods
  • Other Food Applications
• Animal Feed
  • Livestock
    • Cattle
    • Swine
    • Poultry
  • Pet Food
  • Aquafeed
• Nutraceuticals
• Sports Nutrition
• Infant Nutrition

By Processing Type:

• Dry Processing
• Wet Processing

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI’s latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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