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Chickpea Ingredients Market Trends, Size, Share | Insights on Emerging Scope 2030

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Chickpea Ingredients Market Trends, Size, Share | Insights on Emerging Scope 2030

July 01
03:28 2022
Chickpea Ingredients Market Trends, Size, Share | Insights on Emerging Scope 2030
Reports and Data | Chickpea Ingredients Market
Increasing adoption of chickpea as nutrition among sports enthusiasts and rising usage of chickpea among consumers for lactose-free and gluten-free protein sources are some of the 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% during the forecast period, according to a latest report by Reports and Data. Increasing adoption of chickpea as nutrition among sports enthusiasts and rising usage of chickpea among consumers for lactose-free and gluten-free protein sources are key factors driving market revenue growth during the forecast period. In addition, rising demand for chickpea ingredients in animal feed products is expected to drive the market between 2022 and 2030. Chickpea ingredients are widely used as a cattle feed due to its low price, easy availability, and high nutritious value for animals, which is increasing its demand, in turn, expected to drive market revenue growth. Additionally, increasing research initiatives to substitute animal-based ingredients to provide sustainability with natural ingredients and quality nutrition is another factor expected to augment growth of the chickpea ingredients market over the forecast period. Moreover, increasing research & development by chickpea product manufacturers for development of newest flavors and food products is expected to propel growth of the market. Furthermore, consumers are preferring lactose-free and gluten-free food products, which has increased adoption of chickpea ingredients. This is another factor which is expected to drive revenue growth of the market in the future.

However, concerns regarding low consumer awareness about nutritional benefits of chickpea are some factors that could hamper revenue growth of the market. Consumers are opting for other ingredients for better protein sources, such as pea ingredients, soy ingredients, and animal-based protein sources, due to its increased popularity regarding nutritional benefits. This has led to low consumer awareness about nutritional benefits in chickpea ingredients, which could hamper revenue growth of the market.

Some Key Highlights in the Report

  • The flour segment is expected to register a steady revenue growth rate over the forecast period. Rising demand for chickpea flour due to amino acids present in ingredient, which helps to protect the body from high sugar in blood and is expected to boost revenue growth of this segment.
  • The sports & energy nutrition segment is expected to register a steady revenue growth rate over the forecast period. Chickpea is widely consumed by athletes as protein due to its benefits, which helps to repair breakdown of muscles caused by intense training and workout. This is expected to boost revenue growth of this segment.
  • The liquid segment is expected to account for a considerable market share over the forecast period. Rising demand for liquid chickpea as a vegan substitute for eggs and egg whites in many recipes is driving growth of this segment. Chickpea is widely used by manufacturers to make vegan mayonnaise and chocolate spreads, which is expected to drive growth of this segment.
  • The North America market is expected to register a considerable revenue CAGR over the forecast period. Rising demand for dairy alternative protein sources among consumers is another factor expected to increase adoption of chickpea ingredients. Additionally, rising consumer inclination towards veganism and increasing allergies among consumers is another factor expected to drive  revenue growth of the market.
  • 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
  • In February 2022, Ingredion Incorporated, a leading global provider of ingredient solutions to food & beverage industries announced a new equity investment in InnovoPro, a leading FoodTech chickpea solutions company.

For More Industry Insight, Request [email protected] https://www.reportsanddata.com/download-summary-form/5093

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
      1. S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. UK
      3. France
      4. Italy
      5. Spain
      6. Sweden
      7. BENELUX
      8. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Israel
      5. Rest of Middle East & Africa

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City: New York City
State: NY 10005
Country: United States
Website: https://www.reportsanddata.com/press-release/global-chickpea-ingredients-market

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