According to the latest published report by IMARC Group, entitled “Chickpeas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global chickpeas market reached a value of US$ 14 Billion, growing at a CAGR of nearly 4% during 2009-2016. Chickpeas belong to the family of fabaceae and are also known as garbanzo beans. They are one of the oldest consumed legumes in the world and are grown mainly in the areas with temperate and semiarid climatic conditions. Chickpeas are a rich source of protein, fat, vitamins, minerals, fibre and carbohydrates. In addition, they offer a range of health benefits such as increasing satiety, boosting digestion, managing blood sugar levels, and protecting against heart diseases and cancer. As a result of this, chickpeas have formed a part of certain traditional diets for centuries.
Highlights of the global chickpeas market:
- Numerous health benefits offered by chickpeas and rising population remain the key growth inducing factors.
- India represents the largest producer of chickpeas, accounting for the majority of the global production.
- The market for chickpeas is expected to reach a value of more than US$ 16 Billion by 2022.
The major factor inducing the growth of the market is the increasing population in the developing regions, particularly South-East Asia, where the demand for food is expanding rapidly to meet the rising consumption requirements. Along with this, growing acceptance and awareness about the benefits of chickpeas has further made them a popular food in the Western countries, thereby augmenting the demand for chickpeas. Apart from this, chickpeas have found new applications in the food processing industry as well, which is expected to further expand the market. Urbanisation, improved standard of living, rising number of vegetarians and increasing health consciousness are some of the other factors driving the global chickpeas market. Owing to the aforementioned factors, the market is expected to reach a value of US$ 16 Billion by 2022.
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The global chickpeas market has been segmented on the basis of key regions, including India, Australia, Pakistan, Myanmar and Ethiopia. Amongst these, India represents the largest producer of chickpeas, accounting for the majority of the global production. Despite being the largest producer, India imports large quantities of chickpeas owing to the huge demand in the country. Currently, Australia represents the biggest exporter of chickpeas accounting for more than one-third of the total global export volumes. Some of the other major exporters of chickpeas include Russia, Canada, Argentina and the United States. The report has also analysed the competitive landscape of the market and finds that it is fragmented in nature. Some of the major players include Adani Wilmar Pvt. Ltd., Cargill Foods India, AGT Foods and Ingredients and Broadgrain.
The report by IMARC Group has examined global chickpeas market on the basis of:
- Adani Wilmar Pvt. Ltd.
- Cargill Foods India
- AGT Foods and Ingredients
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