Chickpea Flour Market: Global Industry Analysis 2012-2016 & Opportunity Assessment 2017-2026
LONDON, June 18, 2018 /PRNewswire/ -- The global chickpea flour market continues to be influenced by a range of macroeconomic and microeconomic factors. Increasing awareness on the benefits of health and wellness of chickpea flour is fuelling adoption in developed countries. In many Asian countries, especially India, chickpea flour has been a staple, and has been used in the preparation of many cuisines. According to a latest study by Future Market Insights (FMI), the global chickpea flour market is likely to surpass a valuation of US$ 5 Bn by the end of 2026.
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India Continues to be Central to Global Demand for Chickpea Flour
India is one of the most important markets for chickpea flour, owing to the high production and consumption of chickpea in the country. The harvesting of chickpea is done during the month of mid-January to mid-March, and a decline in production during this time has the potential to alter the status quo in the global demand and supply. India's centrality to the global chickpea flour market is one of the key reasons for the dominance of Asia Pacific excluding Japan (APEJ) in the global chickpea flour market.
Awareness about Health Benefits Driving Adoption in Developed Countries
In developed regions, such as North America and Europe, chickpea flour has gained traction recently, as a large consumer base in the region is looking for healthy food products. The pervasive health and wellness trend is likely to provide an impetus to the demand for chickpea flour in North America and Europe during the assessment period.
Sales through E-Commerce Channels Creating New Growth Avenues
Traditionally, the sales of chickpea flour have remained resurgent through food chain services and modern trade. These two distribution channels continue to be the leading channels for chickpea flour. However, in the recent past, sales through online channels have opened up new growth avenues for manufacturers. According to the report, sales through online stores are likely to surpass sales through departmental stores during the assessment period.
Bakery and Confectionary Continue to Account for Bulk of Demand
Chickpea flour is used in a wide range of applications, including bakery and confectionary, extruded products, beverages, animal feed, and dairy products. Among these, demand for chickpea flour is most formidable in bakery and confectionary segments. By 2026, demand for chickpea flour through bakery and confectionary segment is likely to be worth nearly US$ 2.5 Bn. Extruded products is the second largest application segment in the market.
Desi Chickpea Continues to Outsell Kabuli
On the basis of product type, demand for desi chickpea flour has traditionally remained higher than kabuli flour. The status quo is likely to remain unchanged during the assessment period, with desi chickpea flour likely to account for a higher revenue share of the market.
Competition Tracking
Leading companies in the chickpea flour market focus on collaboration and strengthening of supply chains in a bid to consolidate their position. Some of the leading players in the market include Ingredion, ADM, The Scoular Company, SunOpta, Anchor Ingredients, EHL Limited, Batory Foods, Diefenbaker Spice & Pulse, Blue Ribbon, Great Western Grain, Best Cooking Pulses, Bean Growers Australia, Parakh Agro Industries Ltd, and CanMar Grain Products.
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