Chickpeas Market Projections & Future Opportunities Recorded for the Period until 2022
The global chickpeas market is likely to witness above-average growth. The market is projected to bring in US$ 10,679.6 million revenue towards 2022 end. Being one of the major ingredients of various Mediterranean, Middle Eastern, and Indian dishes, the demand for chickpeas is continuously rising. Moreover, manufacturers of processed foods are also using chickpeas for offering a variety of food products.
[UKPRwire, Fri Jul 19 2019] The global chickpeas market is likely to witness above-average growth. The market is projected to bring in US$ 10,679.6 million revenue towards 2022 end. Being one of the major ingredients of various Mediterranean, Middle Eastern, and Indian dishes, the demand for chickpeas is continuously rising. Moreover, manufacturers of processed foods are also using chickpeas for offering a variety of food products.
Chickpeas belong to the legume family. Chickpeas is also known as garbanzo beans, ceci beans, Bengal gram, gram, etc. Chickpeas is generally pea-shaped and beige-colored. Chickpeas are mostly consumed in Middle-East, South-Asia, and Mediterranean. The two most important variety of chickpeas are the Kabuli type which is large and light-colored, and another is desi type which is dark-colored. Chickpeas are rich in protein, nutrition and are also high in fiber. Chickpeas are also available in a dried or canned form and do not lose its nutrients even in the canned form.
Many restaurants and fast-food chains have also started using chickpeas as the main ingredient in their cooking. With the rise of health-consciousness among consumers, manufacturers have also started including chickpeas in various processed foods. Among various foods, hummus is one of the most popular dips or spread made of chickpeas. Hence, hummus is also being made using a variety of flavors with chickpeas as the main ingredient. Being the largest producer of chickpeas, many major market players are looking forward to expanding in India and other Asian countries to produce various food products with chickpeas as a major ingredient. Increasing number of people suffering from gluten sensitivity or celiac disease is also motivating restaurants to opt for gluten-free cooking with beans such as chickpeas.
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Desi Chickpeas are projected to account for more than half of the share in terms of revenue by 2017 end. Desi chickpeas are also expected to create an incremental opportunity exceeding US$ 1,200 million between 2017 and 2022. Meanwhile, Kabuli chickpeas are also projected to witness steady growth throughout the forecast period.
Among various forms of chickpeas available in the market, dried chickpeas are likely to gain traction in the global market for chickpeas. Dried chickpeas are projected to surpass US$ 5,000 million towards 2022 end. On the other hand, fresh/green chickpeas are also likely to be the second most preferred chickpeas form.
As compared to the various application of chickpeas in salads, snacks, hummus, and tahini, direct consumption is likely to experience steady growth. Towards the end of 2022, direct consumption of chickpeas is projected to exceed US$ 3,500 million value. Although the use of chickpeas in hummus and tahini is also likely to experience growth in the coming years.
5 Forecast Highlights on Global Chickpeas Market
Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global chickpeas market. By the end of 2022, APEJ chickpeas market is estimated to reach nearly US$ 5,000 million revenue. In APEJ region, India is one of the largest producer of chickpeas, followed by Australia, Pakistan, China, etc. hence, the region accounts for the largest share in the global chickpeas market.
North America is also expected to emerge as the biggest market for chickpeas. Chickpeas are consumed in various forms as food items. In North America, canned chickpeas are consumed on a large scale with salads. Chickpeas are also available in form of dry chickpeas and ground flour to be used in baking.
Compared to Kabuli chickpeas, desi chickpeas are expected to be one of the highly-preferred product. Desi chickpeas are estimated to reach nearly US$ 6,600 million revenue by the end of 2022.
Dried chickpeas are expected to be one of the most favored forms of chickpeas. By the end of 2017, dried chickpeas are estimated to account for nearly half of the market share. Dried chickpeas are also estimated to create more than US$ 1,000 million incremental opportunity during 2017-2022. Meanwhile, fresh/green chickpeas are also expected to witness growth during the forecast period.
Direct consumption of chickpeas is expected to be the highest compared to other applications. Direct consumption of chickpeas is estimated to reach close to US$ 3,600 million revenue by the end of 2022.
The report also profiles companies that are expected to remain active in the expansion of global chickpeas market through 2022, which include Bean Growers Australia Limited, The Wimmera Grain Co., Pty Ltd, AGT Food & Ingredients, Inc., OLEGA S.A., Alberta Pulse Growers Commission, Indraprasth Foods Ltd, Mast Qalander Traders, and Sanwa Pty. Ltd.
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