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The global chickpeas market is expected to grow from $12.52 billion in 2021 to $13.79 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $17.09 billion in 2026 at a CAGR of 5.5%.
The chickpeas market consists of sales of chickpeas by entities (organizations, sole traders, and partnerships) that are solid, round seeds which resemble pale-brown peas in appearance.Chickpeas are an Asian legume plant (Cicer arietinum) grown for their short pods with one or two seeds.
Garbanzo beans, Ceci beans, Bengal gramme, and gramme are all names for chickpeas. They're nutritious, adaptable, and simple to cook.
The main types of chickpeas are Kabuli chickpeas and Desi chickpeas.Kabuli chickpeas are nutritional powerhouses filled with fiber, protein, and nutrients.
The different forms include dried, fresh or green, frozen, Preserved/ Canned, flour and is distributed through Supermarkets/ Hypermarkets, departmental stores, grocery stores, e-commerce platforms, others. The chickpeas are used by various verticals such as food and beverage, healthcare and nutrition, restaurants and food service providers, others.
Asia-pacific was the largest region in the chickpeas market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Growing product innovations are gaining significant popularity in the chickpeas market.Major companies operating in the chickpeas sector are focused on developing innovative products to strengthen their position.
For instance, in November 2020, ChickP, an Israeli foodtech start-up introduced a next-generation native starch for food and beverage applications made from chickpeas using proprietary technology.The new native chickpea starch avoids food waste and provides a long-lasting, healthful ingredient throughout manufacturing.
It contains a high amylose to amylopectin ratio, as well as a neutral flavour and no scent.
The rising health awareness among people is expected to fuel the growth of the chickpeas market in the forecast period.Increasing cases of obesity, heart diseases, diabetes, and other chronic diseases are forcing people to choose healthy dietary options.
Chickpeas, both canned and dried, have a low glycemic index, which helps to control blood sugar, cut cholesterol, and reduce the risk of cancer.Choline is a vitamin found in chickpeas that aids in the production of key molecules for memory, mood, muscular control, and other brain and nervous system functions.
For instance, according to the Center for Diseases Control and Prevention report in 2021, due to poor nutrition, and lack of physical activity, 6 in 10 adults in the USA are suffering from a chronic disease and 4 in 10 have two or more diseases.According to International Diabetes Federation, in 2019, 463 million people have diabetes globally and the number is projected to increase to 700 million by 2045.
Therefore, the rising health awareness propels the growth of the chickpeas market.
In June 2021, Ardent Mills, a US-based flour-milling and ingredient company acquired the assets of Hinrichs Trading Company (HTC) for an undisclosed amount.The acquisition expands Ardent Mills' speciality ingredient expertise and close grower relationships, enabling clients to bring new products to market in response to rising consumer demand for pulse and plant-based ingredients.
Hinrichs Trading Company is a US-based company that is engaged in the production of chickpeas.
The countries covered in the Chickpeas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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