Chickpea Market to Gain Substantial Growth During the Forecast Period 2022-2028

Posted on 2022-03-24 by researchinsights in Food & Beverage // 0 Comments

San Jose, California , USA, Mar 24, 2022 — /EPR Network/ —

The Chickpea Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

The global chickpea market size is expected to reach USD 10.68 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 3.15% from 2021 to 2028. Increasing demand for protein-rich chickpea as from developed as well as developing countries is propelling market growth.

The growing trend of healthy diet and vegetarianism has led to the significant growth of the market. The ground chickpea can be an alternative to caffeine-related products such as coffee as its taste and flavor are the same as coffee. Brown chickpeas have various health benefits such as reducing the risk of certain types of cancers and regulating sugar levels in the blood. They boost immunity and also provide extra strength to our muscles. This has led to increased inclination of the young generation towards the product for a balanced diet, resulting in significant growth of the market.

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Desi chickpeas captured the largest share of more than 70.0% in 2020. Rising demand for this product for a proportionate diet is propelling the segment growth. Moreover, desi chickpeas have numerous health benefits. This is projected to help the market to grow in the upcoming years.

The kabuli segment will witness significant growth over the forecast period owing to its increasing demand. They are bigger in size compared to desi chickpeas and they account for the remaining 20% of production as per the Food and Agriculture Organization (FAO).

List of Key Players of Chickpea Market

Wimmera Grain Company
Bean Growers
Arbel S.A.
IsikTarimUrunleriSanayiIcVe Dis Ticaret Ltd Sti
JOVA Graneros, S.A. de C.V.
Mast Qalander Group of Companies
Indraprasth foods Ltd.
OLEGA S.A.

Chickpea Market Report Highlights

The desi type segment held the largest share of above 70.0% in 2020 due to the increasing demand from developing countries, such as India
By distribution channel, hypermarkets and supermarkets held the largest share of over 35.0% in 2020 due to the growing number of hypermarkets and supermarkets
Europe is anticipated to register a growth rate of 2.91% from 2021 to 2028 owing to the rising production of chickpea in developed countries
North America is expected to witness significant growth over the forecast period due to the rising adoption of a healthy and protein-rich diet as chickpea as are a good source of protein

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Asia Pacific held the largest share of over 70.0% in 2020 owing to the increasing demand from India, Australia, and Myanmar. India is a leader in the production of chickpeas, accounting for 9.94million metric tons according to the FAO. Following India, Australia and Myanmar are the leading producers and exporters of chickpeas to developed countries. All these factors together are expected to boost the regional market growth.

Europe is expected to register a CAGR of 2.91% from 2021 to 2028. This can be attributed to the growing trend of balanced diets and vegan life. North America is expected to witness lucrative growth over the forecast period owing to the increasing demand for kabuli chickpeas in balanced diets in the U.S. and Canada.

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