PUBLISHER: 360iResearch | PRODUCT CODE: 1495529
PUBLISHER: 360iResearch | PRODUCT CODE: 1495529
[183 Pages Report] The Chickpeas Market size was estimated at USD 6.80 billion in 2023 and expected to reach USD 7.21 billion in 2024, at a CAGR 6.50% to reach USD 10.57 billion by 2030.
Chickpeas or garbanzo beans are a kind of legume belonging to the family Fabaceae, widely cultivated for its edible seeds. They are round, beige to light green seeds commonly used in culinary dishes worldwide. Chickpeas have a nutty taste and grainy texture, which makes them one of the popular ingredients in salads, soups, and stews, and they are mashed into a paste to form hummus. They are used in Middle Eastern, Mediterranean, and South Asian cuisines. The chickpea market is growing, primarily fueled by a significant consumer shift toward healthier and plant-based diets. This shift reflects growing health consciousness and aligns with increasing environmental and ethical considerations. The increasing demand for Middle Eastern and Indian cuisines significantly contributes to the growth of the global chickpeas market. These cuisines, where chickpeas serve as a culinary cornerstone, enhance the demand for chickpeas due to their versatile use in numerous traditional dishes such as hummus and chana masala and introduce chickpeas to a broader international audience. However, The chickpea market faces significant growth restraints due to unpredictable weather patterns and supply chain disruptions. Climate variability has led to uneven rainfall and temperature shifts, adversely affecting chickpea yields and quality across various regions. Furthermore, supply chain disruptions hinder chickpeas' smooth distribution and availability. Integrating modern agricultural technologies such as precision farming and genetically modified crops offers lucrative opportunities for the chickpeas market expansion. Improved production technologies increase productivity and optimize resource use such as water and fertilizers, reducing environmental impact and supporting sustainable practices.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 6.80 billion |
Estimated Year [2024] | USD 7.21 billion |
Forecast Year [2030] | USD 10.57 billion |
CAGR (%) | 6.50% |
Regional Insights
Chickpeas are consumed domestically and exported in the Americas, particularly in countries such as the United States, Canada, and Mexico. The U.S. is one of the significant producers, primarily focusing on the Desi and Kabuli types of chickpeas. A growing demand for plant-based proteins and healthy dietary patterns drives the chickpeas market. There is also an increasing trend toward using chickpeas in various culinary applications beyond traditional dishes, such as salads, snacks, and gluten-free products. The Asia-Pacific region is a producer and consumer of chickpeas, with countries, including India and Australia having chickpeas as a staple in daily diets. The demand in Asia-Pacific is driven by traditional uses in local cuisines, and the market is supported by urban and rural consumption. In the EMEA region, chickpeas are widely consumed in numerous traditional dishes such as hummus, falafel, and stews. The European market is showcasing growth in demand owing to the increasing popularity of Middle Eastern cuisine and the increasing vegetarian and health-conscious population seeking alternative protein sources. In Europe, chickpeas are utilized in innovative food products, such as plant-based alternatives. The demand for chickpeas as a source of protein is high in vegetarian diets and among the African population, further driving chickpeas market growth in the African region.
Market Insights
The market dynamics represent an ever-changing landscape of the Chickpeas Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Chickpeas Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Chickpeas Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
HIPPEAS launched Chickpea Puffs in Vegan White Cheddar Explosion and Blazin' Hot Flavors
HIPPEAS launched Flavor Blast Chickpea Puffs, available in Vegan White Cheddar Explosion and Blazin' Hot flavors. These snacks, built on the foundation of using chickpeas as the primary ingredient are designed to offer the intense flavor and satisfying crunch similar to traditional snack puffs while adhering to health-conscious standards. [Published On: 2024-01-17]
ICAR Launched Resilient and High-Yielding Black Chickpea Varieties, KBC-2 and KBC-3
The Indian Council of Agricultural Research (ICAR) sanctioned two novel varieties of Kota's black chickpeas, named KBC-2 and KBC-3. These varieties, developed by a Kota-based research center, are distinguished by their enhanced disease resistance and higher yield potential compared to earlier strains. KBC-2 and KBC-3 are especially noted for their strong resilience against fusarium wilt and dry root rot, which are prevalent diseases that adversely affect chickpea crops. [Published On: 2023-12-22]
Symrise launched Chickpea-Based Ingredients to Enhance Flavor and Texture in Plant-Based Foods
Symrise launched a range of chickpea-based ingredients tailored to enhance the texture and taste of plant-based products, aligning with consumer preferences for healthier and environmentally friendly alternatives without compromising on flavor. This initiative also responds to the market's growing interest in plant-based diets, backed by increased consumer awareness of health, nutrition, and ecological impact. [Published On: 2023-09-14]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Chickpeas Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Chickpeas Market, highlighting leading vendors and their innovative profiles. These include AGRANA Beteiligungs-AG, AGT Food and Ingredients Inc., Arbel by AGT Food and Ingredients Inc., Archer Daniels Midland Company, Ardent Mills, Bean Growers Australia Ltd., Brindisa Ltd., BroadGrain Commodities, Inc., Dhanhar Exim Pvt. Ltd., Dhaval Agri Exports LLP., George DeLallo Company, Inc., Olam Agri Holdings Pte Ltd., OLEGA S.A., Palouse Brand, Raviraj Group, Siva Parvathi Seeds, Teasdale Latin Foods, The Chickpea Company, VAD Industries Pvt. Ltd., and Woods Holding Group Pty Ltd..
Market Segmentation & Coverage