Chickpea Market to grow by USD 7.40 billion from 2022 to 2027, The increasing consumption of chickpeas as a snacking item to drive growth - Technavio

NEW YORK, Feb. 8, 2024 /PRNewswire/ -- The chickpea market is to grow by USD 7.40 billion from 2023 to 2027 progressing at a CAGR of 5.65% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall environment. The increasing consumption of chickpeas as a snacking item is a key factor driving growth.

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Chickpeas are gaining popularity worldwide as convenient and healthy snacks. Rich in fiber, folate, protein, and zinc, chickpea snacks are easily prepared at home with added spices and are readily available in the market as ready-to-eat products. Particularly in South Asia, notably India, chickpea snacks are widely enjoyed, with street companies offering fresh roasted chickpeas seasoned with coriander and lemon, alongside other popular street food items like roasted corn.

ABBOTT BLACKSTONE Co. Inc., AdasCan Grain Corp., AGT Food and Ingredients Inc., Anu Foods, Ardent Mills LLC, ATC Group India, Bean Growers Australia Ltd., Cono Trading International AG, DHAVAL AGRI EXPORT LLP, GEEWIN EXIM, Hippeas Inc., Nature Bio Foods Ltd., Nature Pulse Botanicals Pvt. Ltd., Organic Products India, Popular Pulse Products Pvt. Ltd., Shri Mahavir Group, Shubhlaxmi Industries, SunOpta Inc., VAD Industries Pvt. Ltd., and Woods Holding Group Pty. Ltd. are key companies.

• The expanding base of the vegan population is a primary trend shaping the growth. 
• The declining crop yields due to the overgrowth of weeds is a significant challenge restricting growth.

The report extensively covers market segmentation by distribution channel (offline and online), product (desi chickpea and kabuli chickpea), and geography (APAC, North America, Europe, Middle East and Africa, and South America)

• The growth of the offline segment will be significant during the forecast period. Chickpea sales are prominently facilitated through convenience and grocery stores, with an increasing number of such stores globally, including major countries like the UK, China, India, and Japan. The rise of organized retail, especially supermarkets and hypermarkets, is driven by urbanization trends, offering a popular distribution channel for chickpeas. Discounts and innovative shelf displays enhance the shopping experience, encouraging consumer purchases.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View a Free Sample Report

The chickpea market covers the following areas:

• Chickpea Market Sizing
• Chickpea Market Forecast
• Chickpea Market Analysis

ABBOTT BLACKSTONE Co. Inc. - The company offers chickpeas that are available in jumbo, large, and medium sizes of 8mm to 10mm and above.

AdasCan Grain Corp. - The company offers chickpeas that vary in color from white to red to black, and oil content ranging from 40 percent to 50 percent.

AGT Food and Ingredients Inc. - The company offers chickpeas which are consumed fresh as a green vegetable, parched, fried, roasted, and boiled.

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Sustainable farming practices offers benefits

Chickpeas, belonging to the category of pulse crops and legumes, are renowned for their plant-based protein content, making them a valuable addition to vegetarian and vegan diets. They offer various chickpea varieties suited for different culinary applications, from traditional dishes to modern recipes. Chickpeas are cultivated through sustainable farming practices, contributing to agricultural sustainability and crop rotation. Their high dietary fiber content and nutrient-rich profile make them a popular choice in healthy eating and nutrition-focused diets. Chickpeas are used in the production of hummus and as snacks, reflecting their versatility in the food industry. The global demand for chickpeas has led to significant exports and international trade, highlighting their importance in the agricultural economy.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Product

Segmentation by Distribution Channel

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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