Chickpeas Global Market Report 2023

NEW YORK, March 6, 2023 /PRNewswire/ -- Major players in the chickpeas market are AGT Food and Ingredients, BroadGrain Commodities, The Wimmera Grain Store, Bean Growers Australia Limited, Olega S.A., Indraprasth Foods Limited, Arbel Group, Alberta Pulse Growers Commission, Isik Tarim, Shri Mahavir Group, Aayurmed Biotech Pvt. Ltd., RR Agro Foods, Parampara Organic, Erika Organics, and Pushti Food Products.

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The global chickpeas market grew from $13.93 billion in 2022 to $14.9 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The chickpeas market is expected to grow to $19.19 billion in 2027 at a CAGR of 6.5%.

The chickpeas market consists of sales of chickpea puffs, chickpea snacks, hummus, chickpea hash, chickpea wraps.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

The chickpeas are solid, round seeds which resemble pale-brown peas in appearance.Chickpeas are an Asian legume plant (Cicer arietinum) grown for their short pods with one or two seeds.

Garbanzo beans, Ceci beans, Bengal gramme, and gramme are all names for chickpeas. They're nutritious, adaptable, and simple to cook.

Asia-pacific was the largest region in the chickpeas market in 2022. The regions covered in the chickpeas report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of chickpeas are Kabuli chickpeas and Desi chickpeas.Kabuli chickpeas are nutritional powerhouses filled with fiber, protein, and nutrients.

The different forms include dried, fresh or green, frozen, Preserved/ Canned, flour and is distributed through Supermarkets/ Hypermarkets, departmental stores, grocery stores, e-commerce platforms, others. The chickpeas are used by various verticals such as food and beverage, healthcare and nutrition, restaurants and food service providers, others.

The rising health awareness among people is expected to fuel the growth of the chickpeas market in the forecast period.Increasing cases of obesity, heart diseases, diabetes, and other chronic diseases are forcing people to choose healthy dietary options.

Chickpeas, both canned and dried, have a low glycemic index, which helps to control blood sugar, cut cholesterol, and reduce the risk of cancer.Choline is a vitamin found in chickpeas that aids in the production of key molecules for memory, mood, muscular control, and other brain and nervous system functions.

For instance, according to the Center for Diseases Control and Prevention report in 2021, due to poor nutrition, and lack of physical activity, 6 in 10 adults in the USA are suffering from a chronic disease and 4 in 10 have two or more diseases.Therefore, the rising health awareness propels the growth of the chickpeas market.

Growing product innovations are gaining significant popularity in the chickpeas market.Major companies operating in the chickpeas sector are focused on developing innovative products to strengthen their position.

For instance, in November 2020, ChickP, an Israeli foodtech start-up introduced a next-generation native starch for food and beverage applications made from chickpeas using proprietary technology.The new native chickpea starch avoids food waste and provides a long-lasting, healthful ingredient throughout manufacturing.

It contains a high amylose to amylopectin ratio, as well as a neutral flavour and no scent.

In June 2021, Ardent Mills, a US-based flour-milling and ingredient company acquired the assets of Hinrichs Trading Company (HTC) for an undisclosed amount.The acquisition expands Ardent Mills' speciality ingredient expertise and close grower relationships, enabling clients to bring new products to market in response to rising consumer demand for pulse and plant-based ingredients.

Hinrichs Trading Company is a US-based company that is engaged in the production of chickpeas.

The countries covered in the Chickpeas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The chickpeas market research report is one of a series of new reports that provides chickpeas market statistics, including chickpeas industry global market size, regional shares, competitors with a chickpeas market share, detailed chickpeas market segments, market trends and opportunities, and any further data you may need to thrive in the chickpeas industry. This chickpeas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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