According to the latest report by IMARC Group, titled "Chickpeas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global chickpeas market reached a value of US$ 16.2 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.2% during 2021-2026.
Chickpeas belong to the legume family and are vastly grown across the Indian subcontinent, West Asia and the Mediterranean region. Characterized by a nutty buttery flavor and creamy texture, they are used for the preparation of numerous dishes, such as soups, salads, stews, dips, sauces, spreads, curry and bakery products. They are a rich source of essential nutrients, such as vitamins, fibers, proteins, carbohydrates and minerals. As a result, their consumption offers numerous health benefits, such as improving the digestion process, assisting in weight management, maintaining muscle and bone strength, reducing inflammation, managing blood sugar levels and minimizing the risk of developing numerous chronic diseases.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Chickpeas Market Trends:
The global market is primarily driven by increasing health-consciousness among consumers. The numerous health benefits offered by these legumes have led individuals to incorporate chickpeas in their daily diets. The increasing utilization of chickpeas in various processed food products to enhance the taste of preparations is acting as another major growth-inducing factor. In addition to this, rapid urbanization and globalization have contributed to the widespread popularity of diversified ethnic cuisines from across the globe. Since chickpeas are considered to be a staple in Mediterranean and Indian cuisines, this, in turn, is creating a positive outlook for the market. Chickpeas are also being used for the preparation of textured protein, which is extensively used as a popular form of vegetarian meat substitute. In line with this, the rising trend of veganism and vegetarianism among the masses is contributing to the market growth. The market is further driven by the growing preference for gluten- and grain-free flour, which has driven the demand for chickpea flour. Some of the other factors contributing to the market growth include the rising preference for protein-rich diet and increasing utilization of chickpeas as a low-cost feed additive.
Chickpeas Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
- Adani Wilmar Limited (AWL)
- Cargill Foods India
- AGT Food and Ingredients, Inc.
- BroadGrain Commodities, Inc.
Key Market Segmentation:
The report has segmented the global chickpeas market on the basis of region.
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Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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