Press release
Chickpeas Market Report 2024: Strategies And Recent Developments | Alliance Grain Traders, BroadGrain Commodities Inc., The Wimmera Grain Company, Bean Growers Australia Ltd
Chickpeas Market Size
The Business Research Company offers in-depth market insights through Chickpeas Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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 introduct 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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Market Segmentation:
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.
Major Driver - Rising Health Awareness Drives Growth In The Chickpeas Market
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 chickpeas market growth.
Competitive Landscape:
Major companies operating in the chickpeas market include 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, Aayurmed Biotech Pvt. Ltd., RR Agro Foods, Parampara Organic, Erika Organics, Pushti Food Products, Olam International Ltd., Prism Pulses Pvt Ltd., Exports Ltd., AG Pulse LLC, Copper Mountain Energy, R. H. Ballard Art Rug & Home, AmeriSeed LLC, Busby International LLC, George F. Brocke & Sons Inc., Raj food industries Pvt Ltd., Nabi Akram Chapri Manufacturing, Sleaford Quality Foods Ltd., India's Millets Production, CGF Bourse Inc.
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Top Trend - Innovative Plant-Based Protein For Ice Cream In 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 2022, ChickP Protein Ltd.,, an Israel-based manufacturer of plant-based protein ingredients, developed a chickpea protein isolate for plant-based ice cream. The prototype of the ice cream is crafted to offer a rich and creamy texture akin to that of conventional dairy ice cream. This quality renders it an enticing choice for individuals who follow a flexitarian diet and those in search of plant-based substitutes.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Chickpeas Market Characteristics
3. Chickpeas Market Trends And Strategies
4. Chickpeas Market - Macro Economic Scenario
5. Chickpeas Market Size And Growth
…..
27. Chickpeas Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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