IMARC Group, a leading market research company, has recently released a report titled "Chickpeas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032". The study provides a detailed analysis of the industry, including the chickpeas market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global chickpeas market size reached 20.5 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 31.7 Million Tons by 2032, exhibiting a growth rate (CAGR) of 4.76% during 2024-2032.
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Factors Affecting the Growth of the Chick Peas Industry:
- Growing Demand for Plant-Based Protein:
One of the foremost drivers of the chickpeas market is the escalating demand for plant-based proteins. As consumers become more health-conscious and environmentally aware, there is a significant shift towards plant-based diets. Chickpeas are a highly favored source of plant protein, rich in essential amino acids and nutrients such as iron, phosphorus, and folate. This trend is especially pronounced among vegetarians, vegans, and flexitarians who seek to reduce their meat intake. The plant-based protein market's growth is further heightened by the rising awareness of the environmental impact of meat production, which is often associated with high greenhouse gas emissions and extensive land and water use. This environmental consciousness propels consumers to seek sustainable alternatives like chickpeas, thus driving their market demand.
- Changing Dietary Patterns and Consumer Preferences:
Dietary patterns and consumer preferences have undergone substantial transformations in recent years, impacting the chickpeas market. Consumers are increasingly gravitating towards healthier and more nutritious food options, with chickpeas gaining popularity for their health benefits. They are rich in fiber, low in fat, and have a low glycemic index, making them an ideal choice for individuals managing diabetes and heart health. Additionally, chickpeas are versatile and can be incorporated into various cuisines and food products, from traditional dishes like hummus and falafel to innovative snacks and processed foods. This versatility has led to the proliferation of chickpea-based products in the market, catering to the diverse and evolving tastes of consumers. The trend towards clean-label products, with fewer additives and preservatives, further strengthens the demand for natural and wholesome ingredients like chickpeas.
- Global Production Dynamics:
Key chickpea-producing countries include India, Australia, Turkey, and Pakistan, which collectively account for a substantial portion of global supply. Production levels in these countries are subject to various factors such as climatic conditions, agricultural practices, and government policies. For instance, adverse weather conditions like droughts or excessive rains can severely impact chickpea yields, leading to supply shortages and price fluctuations. Moreover, the adoption of advanced agricultural techniques and government support through subsidies and research initiatives play crucial roles in enhancing production efficiency and yield quality. Trade policies and international relations also affect the market dynamics; tariffs, export restrictions, and bilateral trade agreements can either facilitate or hinder the flow of chickpeas across borders. These production dynamics ensure that the market remains sensitive to both regional and global agricultural trends, affecting availability and pricing.
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Global Chick Peas Market Trends:
The emerging trend towards culinary experimentation and innovation is contributing to the market growth, with chefs and food manufacturers globally integrating chickpeas into new and diverse products, from pasta and flour to desserts. Moreover, the escalating awareness and initiatives around food security and sustainable agriculture are aiding in market expansion, as chickpeas are drought-resistant and enrich soil fertility through nitrogen fixation, making them a strategic crop for addressing food shortages and promoting sustainable farming practices in various regions worldwide. Furthermore, the increasing prevalence of food allergies and intolerances is impelling the market growth, as this product serves as an excellent gluten-free and hypoallergenic alternative for individuals with celiac disease or gluten sensitivity, leading to a higher demand for chickpea-based products in specialty health and dietary segments.
Top Companies Operated in Chickpeas Industry:
- Adani Wilmar Limited (AWL)
- Cargill Foods India
- AGT Food and Ingredients, Inc.
- BroadGrain Commodities, Inc.
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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