Rising demand for organic chickpea ingredients among consumers and rising adoption of nutritional and sustainable diets among consumers are some key factors driving market revenue growth
The global chickpea ingredients market size is expected to reach USD 8.16 Billion in 2030 and register a revenue CAGR of 4.8% over the forecast period, according to a latest report by Reports and Data. Rising demand for organic chickpea ingredients among consumers and increasing adoption of nutritional and sustainable diets among consumers and chickpea flour in bakery and confectionary food recipes are factors driving market revenue growth during the forecast period. Chickpea flour is widely used to make vegan and vegetarian bakery and confectionery products, which are increasing its demand. Rising adoption of chickpea as protein, due to its nutritional benefits such as high amino acids, high zinc, and vitamin C and B, is another factor increasing demand for chickpea ingredients for nutritional and sustainable diets among consumers, which is expected to augment market revenue growth. Additionally, rising adoption of organic rice protein due to fast digestion and high metabolism properties is expected to drive revenue growth of the chickpea ingredient market.
However, high cost of organic chickpea products is a major factor driving revenue growth of the market during the forecast period. Chickpea supplements and protein-infused products are increasing in popularity, which has led to increasing prices of organic chickpea products and driving revenue growth of the market. Besides, consistently exceeding daily consumption of chickpea products can lead to major health problems, such as high blood cholesterol, weight gain, heart, digestive, and kidney problems, which is another factor expected to limit adoption of chickpea ingredients.
Companies profiled in the global market report include Archer Daniels Midland Company, Batory Foods, Inc., Nutraiti, Inc., Agrinnovation Ltd. (ChickP), AGT Food and Ingredients, Inc., Ingredion Incorporated, Chickplease, LLC., Nutraonly (Xi’an) Nutritions, Inc., InnovoPro, Ltd., and Cambridge Commodities Limited
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Some Key Highlights in the Report
- The isolates segment is expected to account for larger market share revenue over the forecast period. Rising demand for chickpea isolates among consumers suffering from lactose intolerance due to consumption of dairy-based food products is increasing adoption of chickpea ingredients and is expected to drive revenue growth of this segment. Additionally, increasing usage of chickpea isolates in infant foods & beverages products is expected to boost revenue growth of this segment.
- The food & beverages segment is expected to account for largest revenue share in the global Chickpea ingredients market between 2022 and 2030. Increasing usage of chickpea flour and concentrates in food & beverages is driving revenue growth of this segment as chickpea are widely used in high quantities in various food products to provide nutritional benefits. In addition, rising demand for nutrition cereals and infant food products among consumers is expected to increase adoption of chickpea in food and beverages.
- The Asia Pacific chickpea ingredients market is expected to account for largest revenue share in the global market over the forecast period. Increasing consumer inclination towards fitness and sports is expected to boost revenue growth of the market. Rising consumer awareness towards healthy and nutritional foods is another factor expected to augment growth of the market.
- In August 2020, ChickP introduced the next protein plant, which is healthier, safer, and greener. It is a novel chickpea extract with a complete protein profile that offers the food production industry a new tool to lower cholesterol and triglyceride levels.
For the purpose of this report, Reports and Data has segmented the global chickpea ingredients market based on ingredient type, application, form, and region:
Ingredient Type Outlook (Revenue, USD Billion; 2019-2030)
- Concentrates
- Isolates
- Flour
Application Outlook (Revenue, USD Billion; 2019-2030)
- Foods & Beverages
- Bakery & Confectionary
- Sports & Energy Nutrition
- Animal Feed
- Others
Form Outlook (Revenue, USD Billion; 2019-2030)
- Solid
- Liquid
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Key questions addressed in the Report:
- Which key players are operating in the global Chickpea Ingredients market?
- Which key factors are expected to hamper global market revenue growth?
- What market size is the global Chickpea Ingredients market expected to reach throughout the forecast period?
- Which application segment revenue is expected to expand at a rapid CAGR between 2021 and 2030?
- Which region is expected to account for robust revenue share throughout the forecast period?
- Which regional segment is expected to register fastest revenue CAGR throughout the forecast period?
- What revenue CGAR is the global Chickpea Ingredients market expected to register during the forecast period?
- What are the key outcomes of Porter’s Five Force analysis of the Chickpea Ingredients market?
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