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Chickpeas Market 2024-2033, Key Players, Detailed Analysis and Growth Strategies, Outlook
Chickpeas Global Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Chickpeas industry. This report on Chickpeas market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The chickpeas market size has grown strongly in recent years. It will grow from $14.94 billion in 2023 to $15.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increased plant-based protein demand, global food security, increased demand for traditional cuisines, growth in agricultural practices, increased in export and import activities.
The chickpeas market size is expected to see strong growth in the next few years. It will grow to $20.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to increasing sustainable agriculture practices, meat substitutes and vegan diets, crop genetic improvement, increasing need for precision agriculture technologies growing focus on health and wellness. Major trends in the forecast period include introduction of functional food, the use of chickpea flour in gluten-free products, development of chickpeas-based snacks, and food product innovation.
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Key Market Players:
Alliance Grain Traders, BroadGrain Commodities Inc., The Wimmera Grain Company, Bean Growers Australia Ltd., Olega SA, Indraprasth Foods Ltd., Arbel Group, Alberta Pulse Growers, Isik Tarim AS, Shri Mahavir Group are prominent players in the Chickpeas industry.
Market Drivers:
According to the Chickpeas Market Report 2023 by The Business Research Company, the key factors driving the growth of the Chickpeas market, includes 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.
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Market segments for Chickpeas include:
1) By Type: Kabuli Chickpeas, Desi Chickpeas
2) By Form: Dried, Fresh Or Green, Frozen, Preserved/ Canned, Flour
3) By Distribution Channel: Supermarkets/ Hypermarkets, Departmental Stores, Grocery Stores, E-commerce Platforms, Other Distribution Channel
4) By End User: Food And Beverage, Healthcare And Nutrition, Restaurants And Food Service Providers, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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