The chickpea market is scheduled to expand at a CAGR of 6.9% during the anticipated period. From US$ 7,948.2 million in 2023 to US$ 15,519.9 million in 2033, the chickpea market size is forecast to rise.
The main factor surging the growth of the chickpea protein market is customers’ growing preference for nutritious foods. People worldwide gravitate toward a more dependable, clean food source offering significant dietary benefits. Due to growing environmental consciousness, the appeal of meat alternatives, and the trend of veganism and vegetarianism, these lifestyles have been rapidly growing.
Nourishing future of the market driven by government initiatives:
The government has taken strong measures to encourage the production and consumption of chickpea proteins, which have numerous health advantages, catalyzing the chickpea protein market growth. In line with this vision, European policymakers have put forth initiatives to promote the production and consumption of chickpeas and other plants high in protein.
This tactical choice is projected to result in a considerable increase in chickpea protein production, fueling significant chickpea market expansion afterward. These programs encourage sustainable food production and consumption while promoting healthier diets and economic opportunities in agriculture.
Chickpea’s rise in nutraceuticals unveil market growth opportunities:
Since chickpeas are a plant-based protein, they are a healthier option for persons with chronic cardiovascular conditions. Consuming chickpea protein also helps to prevent hair loss and preserve healthy skin.
Due to all these health advantages, chickpeas are being more widely used in nutraceuticals, which is anticipated to lead to multiple potential for chickpea market expansion. In addition, chickpea protein is renowned for playing a crucial part in controlling blood sugar, particularly in those with type 2 diabetes. Chickpeas are crucial for managing diabetes.
Chickpea protein’s hidden woes:
With a broad profile of necessary components, chickpea protein powder boasts substantial nutritional advantages. Due to its possible negative effects, its chickpea protein ingredients market expansion confronts difficulties. Consuming excess chickpea protein and its constituent parts can cause serious digestive issues and even damage the digestive tract.
This may cause unpleasant side effects, including acidity and bloating, which can prevent the widespread use of goods containing chickpea protein. Careful moderation and awareness of these adverse effects are necessary to completely reap the benefits of chickpea protein while reducing any negatives.
The global chickpea market displays promising growth across various continents, notably in Asia where chickpeas are a staple in countries like India and Pakistan. Additionally, the Middle East and North Africa show robust demand for chickpeas, prominently used in regional dishes like hummus and falafel.
The North American chickpea protein market is expanding with the increasing popularity of plant-based diets, while Europe sees a rising consumption of chickpeas in diverse cuisines, driven by their variety and health benefits, indicating significant growth potential in the chickpea market.
The desi segment in the product type category to grab a share of 63.8% through 2033.
The United States industry to grab a share of 3.3% by 2033.
Canada to hold a market share of 3.2% by 2033.
Germany is going to dictate 1.0% of the global market by 2033.
By 2033, China may possess 5% of the global market size.
Australia is anticipated to hold a 0.6% market share by 2033.
By 2033, Japan’s market is going to latch a 1.3% share.