Key Strategic Developments and Emerging Changes Shaping the Chickpeas Market Environment

The chickpeas market is poised for significant expansion over the coming years, driven by evolving consumer preferences and growing applications across various food sectors. As plant-based diets gain popularity and product innovations continue to emerge, this market is set to capture increasing attention from both producers and consumers alike. Here's a comprehensive look at the current market size, key players, major trends, and segmentation within the chickpeas industry.

Expected Growth Trajectory and Market Size of the Chickpeas Industry
The chickpeas market is forecasted to grow steadily, reaching a value of $23.74 billion by 2030. This expansion reflects a compound annual growth rate (CAGR) of 7.1%. Several factors contribute to this positive outlook, including rising demand from vegan and vegetarian consumers, the broadening range of chickpea flour applications, increased investment in pulse processing infrastructure, a growing base of health-conscious buyers, and greater incorporation of chickpeas into packaged food products. Upcoming trends shaping the market include a stronger preference for plant-based proteins, enhanced use of chickpeas in functional food formulations, the development of value-added chickpea products, wider adoption of improved seed varieties, and an increased emphasis on nutritional labeling to appeal to informed consumers.

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Key Players Leading the Chickpeas Market
The market features numerous prominent companies actively shaping its landscape. Some of the leading names include Alliance Grain Traders, BroadGrain Commodities Inc., The Wimmera Grain Company, Bean Growers Australia Ltd., Olega SA, Indraprasth Foods Ltd., Alberta Pulse Growers, Isik Tarim AS, Shri Mahavir Group, RR Agro Foods, Parampara Organic, Erika Organics, Pushti Food Products, Olam International Ltd., Prism Pulses Pvt Ltd., AG Pulse LLC, AmeriSeed LLC, Busby International LLC, George F. Brocke & Sons Inc., Raj Food Industries Pvt Ltd., and Sleaford Quality Foods Ltd. A notable recent development in the market occurred in July 2023 when Archer Daniels Midland Company (ADM), a US-based agricultural solutions provider, acquired Canada's Prairie Pulse Inc. This acquisition aims to boost ADM's processing capability for pulses, enhance supply chain management for lentils, peas, and chickpeas, and meet the rising global demand for pulse-based proteins across human and animal nutrition sectors. Prairie Pulse Inc. specializes in origination, cleaning, milling, de-hulling, splitting, storage, and packaging of pulse crops, turning them into ready-to-use products for both domestic and international markets.

Emerging Innovations and Trends in the Chickpeas Market
Leading companies are increasingly focusing on developing innovative technologies to improve chickpea-based products. One such advancement is plant-based functional flake technology, which enhances nutritional profiles and supports clean-label formulations in various food items. This technology transforms chickpeas and their cooking water into versatile flakes that boost texture and stability, making them ideal for vegan-friendly products. For instance, in September 2023, Germany-based flavor and nutrition ingredients firm Symrise AG introduced chickpea flakes and aquafaba flakes through its diana food brand. The chickpea flakes offer high protein and fiber content while delivering desirable texture and juiciness for products like falafels, snacks, and dips. Meanwhile, aquafaba flakes serve as a vegan alternative to egg yolk, supporting clean-label claims by improving water and oil retention and producing textures similar to mayonnaise and dressings. Both ingredients are gluten-free, non-GMO, mild in taste and color, and provide long shelf life with easy storage at room temperature.

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Detailed Segmentation Within the Chickpeas Market
This report segments the chickpeas market in several important ways:
1) By Type: Kabuli Chickpeas and Desi Chickpeas
2) By Form: Dried, Fresh or Green, Frozen, Preserved/Canned, and Flour
3) By Distribution Channel: Supermarkets/Hypermarkets, Departmental Stores, Grocery Stores, E-commerce Platforms, and Other Channels
4) By End User: Food and Beverage, Healthcare and Nutrition, Restaurants and Food Service, and Other End Users

Further subdivisions include:
- Kabuli Chickpeas: Large-Seeded Kabuli and Small-Seeded Kabuli Chickpeas
- Desi Chickpeas: Brown Desi, Green Desi, and Black Desi Chickpeas

This segmentation offers a clear view of the market's diverse product types, delivery formats, sales channels, and consumer bases, helping stakeholders identify opportunities and tailor their strategies effectively.

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This release was published on openPR.