The Global Chickpea Market is Set for Rapid Expansion with a Projected 6.9% CAGR Between 2023 and 2033, Propelling Sales from US$ 7,948.2 Million to US$ 15,519.9 Million, Fueled by Health Benefits and Growing Industry Demand.
Plant-based products are both healthier and safer than animal-based products. The Chickpea market is being driven by the growing popularity of veganism worldwide. Increased adoption of Chickpea is primarily due to their growing consumer popularity and the product’s versatility in application.
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Chickpea is linked to several health benefits. Studies have shown that they can help lower cholesterol levels and blood pressure. They may also help improve blood sugar control in people with diabetes. Chickpeas may also aid in weight loss by helping you feel full and satisfied after meals. This has led to a growing consumer preference for it and accelerated the Chickpea market’s key trends and opportunities.
Another factor driving the increased sales of Chickpea is their nutritional value. Chickpeas are an excellent source of protein, fiber, and iron, making them a nutritious option for those looking for a healthy snack. Manufacturers are developing novel ways to incorporate this product into various processed foods to keep up with the chickpea market trends.
“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.
Competitive Analysis
The global chickpea market maintains a fragmented and highly competitive landscape, characterized by numerous local and regional competitors. In response, major players in the chickpea industry are employing diverse strategic approaches to bolster their market presence and drive growth. Notably, partnerships emerge as a pivotal strategy for expanding the market reach of chickpeas.
Additionally, penetrating underdeveloped regions represents another significant tactic. Mergers and acquisitions are facilitating industry consolidation and diversification. Collaborations with research institutions and agricultural organizations are proving essential for fostering innovation and sustainability, addressing critical needs in today’s agricultural sector.
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Key Chickpea Manufacturers
- ABBOTT BLACKSTONE Co. Inc.
- AdasCan Grain Corp.
- AGROCROPS
- AGT Food and Ingredients
- ATC Group India
- Australian Grain Export Pty Ltd.
- Bean Growers Australia Ltd.
- BroadGrain Commodities Inc.
- Cono Trading International AGFazlani Exports Pvt. Ltd.
- JOVA Graneros SA de CV
- Mast Qalander Group of Companies
- Natures Pulses Co.
- Olam International Ltd.
- Popular Pulse Products Pvt. Ltd.
- Raviraj Group
- Shimla Hills Offerings Pvt. Ltd.
- Shri Mahavir Group
- VEERRAL AGRO TECH
- Woods Holding Group Pty. Ltd.
- The Wimmera Grain Store.
Key Segments
By Form:
- Dried
- Fresh
- Canned
- Frozen
- Others
By Application:
- Direct Consumption
- Snacks
- Delicacies
- Dips
- Others
By Type:
- Kabuli Chickpea
- Indian Chickpea
- Garbanzo Beans
- Desi Chickpeas
- Others
By Color:
- Yellow
- Brown
- Green
- Red
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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