Chickpea Market to Grow at Rapid Pace With Revenue $10.68 Billion by 2028, Owing to Rising Trend of Healthy Diet and Vegetarianism | Million Insights

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According to new report available with Million Insights, the global chickpeas industry is expected to witness enhanced demand due to increasing investment, coupled with the technological advancement by key players to increase the production of chickpeas.

Chickpea Market Growth & Trends  

The global chickpea market size is expected to reach USD 10.68 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 3.15% from 2021 to 2028.  Increasing demand for protein-rich chickpea as from developed as well as developing countries is propelling market growth.

The growing trend of healthy diet and vegetarianism has led to the significant growth of the market. The ground chickpea can be an alternative to caffeine-related products such as coffee as its taste and flavor are the same as coffee. Brown chickpeas have various health benefits such as reducing the risk of certain types of cancers and regulating sugar levels in the blood. They boost immunity and also provide extra strength to our muscles. This has led to increased inclination of the young generation towards the product for a balanced diet, resulting in significant growth of the market.

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Desi chickpeas captured the largest share of more than 70.0% in 2020. Rising demand for this product for a proportionate diet is propelling the segment growth. Moreover, desi chickpeas have numerous health benefits. This is projected to help the market to grow in the upcoming years.

Asia Pacific held the largest share of over 70.0% in 2020 owing to the increasing demand from India, Australia, and Myanmar. India is a leader in the production of chickpeas, accounting for 9.94million metric tons according to the FAO. Following India, Australia and Myanmar are the leading producers and exporters of chickpeas to developed countries. All these factors together are expected to boost the regional market growth.

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Chickpea Market Report Highlights

• The desi type segment held the largest share of above 70.0% in 2020 due to the increasing demand from developing countries, such as India

• By distribution channel, hypermarkets and supermarkets held the largest share of over 35.0% in 2020 due to the growing number of hypermarkets and supermarkets

• Europe is anticipated to register a growth rate of 2.91% from 2021 to 2028 owing to the rising production of chickpea in developed countries

• North America is expected to witness significant growth over the forecast period due to the rising adoption of a healthy and protein-rich diet as chickpe as are a good source of protein

Chickpea Market Segmentation

Million Insights has segmented the global chickpea market on the basis of type, distribution channel, and region:

Chickpea Type Outlook (Revenue, USD Million, 2017 – 2028)

Desi
Kabuli

Chickpea Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)

Hypermarkets & Supermarkets
Convenience Stores
Grocery Stores
Online
Others

Chickpea Regional Outlook (Revenue, USD Million, 2017 – 2028)

North America
U.S.
Canada
Mexico

Europe
Turkey
Italy
Spain

Asia Pacific
India
Australia
Myanmar
Pakistan

Central & South America
Argentina

Middle East & Africa
Iran
Tanzania

List of Key Players of Chickpea Market

Wimmera Grain Company
Bean Growers
Arbel S.A.
IsikTarimUrunleriSanayiIcVe Dis Ticaret Ltd Sti
JOVA Graneros, S.A. de C.V.
Mast Qalander Group of Companies
Indraprasth foods Ltd.
OLEGA S.A.

 

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