Chickpeas Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Chickpeas Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The chickpeas market is set for robust growth, projected to grow from $14.94 billion in 2023 to $15.92 billion in 2024, at a CAGR of 6.6%. Contributing factors include the increasing demand for plant-based proteins, global food security initiatives, the popularity of traditional cuisines, advancements in agricultural practices, and a surge in import and export activities.
How Big Is the Global Chickpeas Market Expected to Grow, and What Is Its Annual Growth Rate?
The market is also on track for strong growth, estimated to reach $20.97 billion by 2028, with a CAGR of 7.1%. This expansion is fueled by a rise in sustainable agricultural practices, increasing demand for meat substitutes and vegan diets, crop genetic improvements, advancements in precision agriculture technologies, and a heightened focus on health and wellness. Key trends will include the introduction of functional foods, the use of chickpea flour in gluten-free products, the development of chickpea-based snacks, and innovations in food products.
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What Is Driving the Growth of the Chickpeas Market?
Heightened health awareness among consumers is anticipated to stimulate growth in the market. With rising incidences of obesity, heart disease, and diabetes, more individuals are gravitating toward healthier dietary choices. Chickpeas are recognized for their low glycemic index, which aids in blood sugar control, cholesterol reduction, and cancer risk mitigation. Additionally, choline, a vitamin found in chickpeas, plays a vital role in brain and nervous system functions. According to a 2021 report from the Centers for Disease Control and Prevention, chronic disease prevalence is a significant concern in the U.S., affecting 6 in 10 adults. Thus, the growing awareness of health benefits associated with chickpeas is set to boost the market.
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Which Leading Companies Are Driving The Growth Of The Chickpeas Market Share?
Major companies operating in the market include Alliance Grain Traders, BroadGrain Commodities Inc., The Wimmera Grain Company, Bean Growers Australia Ltd., Olega SA, Indraprasth Foods Ltd., Arbel Group, Alberta Pulse Growers, Isik Tarim AS, Shri Mahavir Group, Aayurmed Biotech Pvt. Ltd., RR Agro Foods, Parampara Organic, Erika Organics, Pushti Food Products, Olam International Ltd., Prism Pulses Pvt Ltd., Exports Ltd., AG Pulse LLC, Copper Mountain Energy, R. H. Ballard Art Rug & Home, AmeriSeed LLC, Busby International LLC, George F. Brocke & Sons Inc., Raj food industries Pvt Ltd., Nabi Akram Chapri Manufacturing, Sleaford Quality Foods Ltd., India's Millets Production, CGF Bourse Inc.
What Are The Key Trends Driving The Growth Of The Chickpeas Market Size?
The market is seeing developments like the introduction of cascatelli made from chickpeas, which serve as a gluten-free pasta alternative. In February 2022, Banza LLC launched Banza Cascatelli by Sporkful, a gluten-free pasta rich in protein and fiber with low net carbohydrates, catering to health-conscious consumers.
How Is the Global Chickpeas Market Segmented?
The chickpeas market covered in this report is segmented –
1) By Type: Kabuli Chickpeas, Desi Chickpeas
2) By Form: Dried, Fresh Or Green, Frozen, Preserved/ Canned, Flour
3) By Distribution Channel: Supermarkets/ Hypermarkets, Departmental Stores, Grocery Stores, E-commerce Platforms, Other Distribution Channel
4) By End User: Food And Beverage, Healthcare And Nutrition, Restaurants And Food Service Providers, Other End-Users
Asia-Pacific: The Leading Region in the Chickpeas Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is the Chickpeas Market?
Chickpeas are solid, round seeds that resemble pale-brown peas and are known by various names, including garbanzo beans and Bengal gram. They are nutritious, versatile, and easy to cook, derived from the Asian legume plant Cicer arietinum.
The Chickpeas Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Chickpeas Market Report: Trends, Opportunities, Strategies, and More
The Chickpeas Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into chickpeas market size, chickpeas market drivers and trends, chickpeas market major players, chickpeas competitors' revenues, chickpeas market positioning, and chickpeas market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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