Mon. Apr 15th, 2024

Chickpeas Market , also known as garbanzo beans, have been a dietary staple for centuries, renowned for their nutritional value and versatility in culinary traditions across the globe. In recent years, the chickpeas market has experienced a remarkable surge in demand, driven by their health benefits, adaptability in various cuisines, and sustainability credentials. From hearty stews to hummus spreads, chickpeas have found their way into diverse menus and diets, fueling a thriving market with promising growth prospects.

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Chickpeas have gained massive popularity in recent years as a preferred source of plant protein, which is a factor that is projected to augment market development over the next ten years as well. Chickpeas are legumes that are popularly known as chana, Bengal gram, garbanzo, or garbanzo beans in different parts of the world.

Chickpeas are part of several Mediterranean, Indian, and Middle Eastern dishes and these cuisines have been gaining popularity around the world, which is slated to uplift shipments of chickpeas going forward. The surging use of chickpeas in processed food manufacturing, increasing globalization, growing prevalence of celiac disease and gluten intolerance, and rising popularity of veganism are other prospects that boost demand for chickpeas across the forecast period.Growing focus on health and fitness has bolstered the demand for plant-based food alternatives that are more nutritious and healthy as compared to their existing traditional counterparts.Incoming chickpea suppliers are focusing on diversifying their business by experimenting with chickpea protein and making unique chickpea products to create a name for themselves in the global marketplace.

Market Growth:

The chickpeas market has been witnessing substantial growth as consumers increasingly seek nutrient-rich and plant-based sources of protein and fiber. Chickpeas provide a balanced combination of these essential nutrients along with vitamins, minerals, and antioxidants, making them a favorite among health-conscious consumers. The market’s growth is further propelled by the surge in vegetarian and vegan diets, where chickpeas serve as a crucial protein substitute.

Market Overview:

The chickpeas market encompasses various varieties, including desi and kabuli, each with distinct attributes and culinary applications. Desi chickpeas, known for their nutty flavor, are predominantly consumed in traditional dishes and snacks. On the other hand, kabuli chickpeas, larger in size and lighter in color, are commonly used in soups, salads, and globally popular hummus. Chickpeas are available in canned, dried, and frozen forms, catering to diverse consumer preferences.

Competitive Analysis:

As the chickpeas market flourishes, numerous players have entered the landscape to meet the growing demand. Major global agribusiness companies like Cargill, Archer Daniels Midland (ADM), and Bunge Limited are actively involved in the chickpeas supply chain, ensuring a steady flow from farm to table. Additionally, food manufacturers and processors are incorporating chickpeas into various products, ranging from snacks to meat alternatives, to tap into the plant-based trend.

Regional Analysis:

Chickpeas are grown across the world, with regions like India, Pakistan, Turkey, Canada, and Australia being major producers. India leads the production of chickpeas, contributing significantly to the global market. The Middle East and North Africa also hold substantial consumption and production shares due to chickpeas’ integral role in traditional dishes like falafel and hummus. The Asia-Pacific region is witnessing a surge in demand due to increased awareness of health benefits.

Conclusion:

The chickpeas market’s upward trajectory is fueled by a growing awareness of health and sustainability, as well as the integration of chickpeas into diverse cuisines and culinary innovations. From enriching plant-based diets to offering sustainable sources of nutrition, chickpeas continue to charm palates and drive market growth. As the world becomes increasingly conscious of the connection between food choices and well-being, chickpeas are destined to play a pivotal role in shaping the future of the global food industry.

By Team MRRSE

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