According to the latest report by Fact.MR, the global chickpeas market is expected to experience above-average growth by reaching US$ 17.8 Bn and registering a positive CAGR of 5.7% through the forecast period 2021-2031. Owing to the various health benefits, nutrients, and proteins, chickpeas are being consumed on a large scale across the globe.
Historically, between 2016 and 2020, the sales of chickpeas surged at a CAGR of 4.3%. Sales further heightened during the COVID-19 pandemic, attributed to the increasing shift in dietary patterns of consumers, exhibiting greater interest in consuming plant-based foods. A reduction of over 70% infection rate was observed amongst people who consumed plant based diets, according to a popular study,
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Key Takeaways from the Market Study
- Dried chickpeas to account for 3/5th of total consumption from 2021-2031
- Kabuli chickpeas to exhibit a CAGR of 5% until 2031, by product type
- Desi chickpeas to register a valuation worth US$ 6.6 Bn in 2022
- Chickpeas for direct consumption to account for 35% of the global revenue share
- India to remain kingpin of the global chickpeas industry, capturing 60% of total revenue
- U.S to be a potential market, accounting for more than 2 out of 5 chickpea sales
“Consumptions of chickpeas as snacks has increased over time, attributed to the numerous health benefits on the human body. In addition, usage of chickpeas in various dishes is boosting the sales,” opines a Fact.MR analyst.
The Wimmera Grain Co., Pty Ltd, Bean Growers Australia Limited, AGT Food & Ingredients, Inc., Indraprasth Foods Ltd, OLEGA S.A., Sanwa Pty. Ltd., Alberta Pulse Growers Commission, and Mast Qalander Traders are prominent chickpeas market players.
- The Wimmera Grain Co offers a variety of chickpeas such as Desi, Kabuli Almaz, Kabuli Genesis 90s and 79s type. The company is focusing on dedicating a website store that would make online ordering easy. The website is expected to go live soon.
- Bean Growers Australia Limited offers chickpeas that are large and light in colour. In addition, the company offers chickpeas that are jumbo and medium in size.