Chickpeas Market Is Set To Reach 14.91 Billion By 2033, Growing At A CAGR Of 7.4

Key Insights

The size of the Chickpeas Market market was valued at USD 14.91 Billion in 2023 and is projected to reach USD 24.58 Billion by 2032, with an expected CAGR of 7.4% during the forecast period. Furthermore, rising food security concerns have led to a growing demand for chickpeas, as they are a rich source of protein and other essential nutrients. Technological advancements in processing and storage techniques have further contributed to the market's expansion. Hybrid seeds are extensively used in chickpea cultivation, offering several advantages including increased productivity, disease resistance, and adaptation to diverse climatic conditions. Strong growth is witnessed in the chickpeas market due to growing consumer preference for plant-based protein sources and awareness of the health benefits associated with chickpeas. Rich in protein, fiber, vitamins, and minerals, chickpeas are widely used in various culinary applications, such as salads, soups, stews, hummus, and as a meat substitute in vegetarian and vegan diets. The healthy-eating trend is driving the demand for chickpeas in the food industry, as consumers are increasingly looking for gluten-free, organic, and clean-label products. In addition, chickpea-based snacks, flour, and pasta are gaining acceptance among health-conscious consumers. Expansion of the global vegan and vegetarian food sector, along with chickpea-based nutraceuticals and functional foods, is further fueling the market. Key players include Tata Chemicals, Cargill, Inc., and The Hain Celestial Group that are emphasizing innovations in products and sustainability in sourcing. Major production is in India as the largest producing country of chickpeas while the other places are in Middle East, North America, and Africa. Consumer demand for healthier, plant-based food alternatives would drive steady market growth.

Chickpeas Market Concentration & Characteristics

The chickpea market is characterized by a high level of concentration, with a few dominant players accounting for a significant portion of the market share. These players include companies such as Agrana Group, Archer Daniel Midland (ADM) Company, Cargill Inc., and Abbott Blackstone. Innovation is a key characteristic of the market, with players investing heavily in research and development activities to develop new products and improve production processes. Government regulations play a significant role in shaping the market, particularly in terms of food safety and environmental sustainability.

Product substitutes, such as other pulses and legumes, can affect the demand for chickpeas. The end-user concentration is relatively low, with a significant portion of the market catering to the food and beverage industry. The level of mergers and acquisitions in the market is moderate, with companies seeking to expand their market reach and enhance their competitive position through strategic acquisitions.

Chickpeas Market Trends

The chickpea market is witnessing several trends that are shaping its future growth. One key trend is the rising demand for plant-based proteins, driven by growing health consciousness and concerns about environmental sustainability. This has led to an increased use of chickpeas in meat alternatives, protein bars, and other plant-based products. Another trend is the increasing popularity of chickpea flour, which is a gluten-free alternative to wheat flour.

Moreover, the growing adoption of sustainable agricultural practices is driving the development of eco-friendly chickpeas. Consumers are becoming increasingly interested in products that are produced in an environmentally responsible manner, leading to a growing demand for organically grown chickpeas.

Key Region or Country & Segment to Dominate the Market

Key Region:

• Asia Pacific is the largest region in the chickpea market, accounting for a major share of global consumption and production. India is the dominant country in this region, followed by Australia, China, and Bangladesh.

Key Segment:

• Desi chickpeas are expected to dominate the market in terms of product type, due to their widespread cultivation in India and other South Asian countries.
• Food & beverages is the largest application segment, with chickpeas being used in a variety of dishes such as salads, curries, and soups.
• Supermarkets and hypermarkets are the primary sales channels for chickpeas, offering konsumen with a wide selection of products from various brands.

Chickpeas Market Product Insights Report Coverage & Deliverables

• Executive Summary: A concise overview of the market, including key findings, market size, and growth potential.
• Market Dynamics: An in-depth analysis of the key drivers, restraints, opportunities, and challenges facing the market.
• Product Segmentation: A comprehensive analysis of the market by product type, form, and sales channel.
• Application Segmentation: A thorough analysis of the market by application, including food & beverages, animal feed, nutraceuticals, and other applications.
• Regional Analysis: A detailed analysis of the market by region, including market size, growth potential, and competitive landscape.
• Competitive Landscape: A comprehensive analysis of the key players in the market, including their market share, product portfolios, and competitive strategies.
• Growth Opportunities: An identification of potential growth opportunities in the market, including new product development, market expansion, and technology advancements.

Chickpeas Market Analysis

The chickpea market is expected to exhibit significant growth in the coming years, driven by the aforementioned factors. Market size is projected to expand from USD 14.91 billion in 2023 to USD 25.27 billion by 2030, at a CAGR of 7.4%. Market share is expected to be dominated by key players such as Agrana Group, Archer Daniel Midland (ADM) Company, Cargill Inc., and Abbott Blackstone.

Chickpeas Market Regional Insights

North America:

• U.S. and Canada are the major markets in this region.
• Increasing demand for plant-based proteins and gluten-free alternatives.
• Strong presence of key players in the region.

Europe:

• Germany, UK, France, and Italy are the major markets.
• High consumption of chickpeas in salads, soups, and hummus.
• Growing awareness about the health benefits of chickpeas.

Asia Pacific:

• India, China, Australia, and Bangladesh are the key markets.
• Largest producer and consumer of chickpeas globally.
• Growing demand from the food & beverage industry.

Latin America:

• Brazil, Mexico, and Argentina are the major markets.
• Increasing adoption of chickpeas in traditional dishes.
• Growing demand for packaged and processed chickpea products.

Middle East & Africa:

• South Africa, Saudi Arabia, UAE, and Egypt are the major markets.
• Growing popularity of hummus and other chickpea-based dishes.
• Increasing investment in chickpea cultivation and processing.

Driving Forces: What's Propelling the Chickpeas Market

• Rising demand for plant-based proteins
• Increasing popularity of chickpea flour
• Growing adoption of sustainable agricultural practices
• Government initiatives to promote chickpea cultivation
• Advancements in processing and storage technologies

Challenges and Restraints in Chickpeas Market

• Fluctuations in production due to climatic factors
• Price volatility in the global market
• Competition from other pulses and legumes
• Limited availability of high-quality chickpeas
• Concerns about contamination and aflatoxin content

Emerging Trends in Chickpeas Market

• Development of new chickpea varieties with improved yield and disease resistance
• Increasing use of chickpea flour in gluten-free food products
• Growing demand for organic and sustainably produced chickpeas
• Adoption of advanced technologies in chickpea processing and packaging
• Strategic partnerships and collaborations in the chickpea supply chain

Chickpeas Industry News

February 2021: Ardent Mills LLC acquired the business operations of Hinrichs Trading Co. (HTC), expanding its presence in the North American chickpea market.

November 2021: Tate & Lyle PLC acquired a significant portion of Nutriati's assets, specializing in the development and production of chickpea-based ingredients.

Leading Players in the Chickpeas Market

• Agrana Group
• Archer Daniel Midland (ADM) Company
• Cargill Inc.
• Abbott Blackstone
• Adascan Grain
• AGT Food and Ingredients, Inc.
• BroadGrain Commodities, Inc.
• The Wimmera Grain Co., Pty Ltd.
• Bean Growers Australia Limited Market
• OLEGA S.A.
• ATC Group India
• Cono Group
• Roland Foods
• Olam Agri
• Ardent Mills

Chickpeas Market Segmentation

• 1. Product Type
  • 1.1. Desi Chickpeas
  • 1.2. Kabuli Chickpeas
• 2. Form
  • 2.1. Dried
  • 2.2. Flour & Powder
  • 2.3. Canned
• 3. Sales Channel
  • 3.1. Supermarkets and Hypermarkets
  • 3.2. Convenience Stores
  • 3.3. Online Retail
  • 3.4. Others
• 4. Application
  • 4.1. Food & Beverages
  • 4.2. Animal Feed
  • 4.3. Nutraceuticals
  • 4.4. Other

Chickpeas Market Segmentation By Geography

• 1. North America
  • 1.1. U.S.
  • 1.2. Canada
• 2. Europe
  • 2.1. Germany
  • 2.2. UK
  • 2.3. France
  • 2.4. Spain
  • 2.5. Italy
• 3. Asia Pacific
  • 3.1. China
  • 3.2. Japan
  • 3.3. India
  • 3.4. Australia
  • 3.5. South Korea
  • 3.6. Indonesia
  • 3.7. Malaysia
• 4. Latin America
  • 4.1. Brazil
  • 4.2. Mexico
  • 4.3. Argentina
• 5. Middle East & Africa
  • 5.1. South Africa
  • 5.2. Saudi Arabia
  • 5.3. UAE
  • 5.4. Egypt