Sample Request for Chickpea Protein Ingredients Market Size, Share, Global Analysis, 2032 | MRFR
Chickpea proteins or garbanzo beans are a good source of carbohydrates and proteins in an increasingly health-conscious world. Chickpeas are used for the manufacture of grain-free flour. It is gluten-free and a high source of protein and fiber. The global chickpea protein ingredients market report by Market Research Future (MRFR) details the market landscape with an emphasis on segments and region from 2018 to 2023 (forecast period).
The Chickpea Protein Ingredients market size is projected to grow from USD 0.667 Billion in 2023 to USD 1.55 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.20% during the forecast period (2023 - 2032)
Market Outlook
The global chickpea protein ingredients market is likely to exhibit a remarkable CAGR over the forecast period due to its demand in various food applications. Increasing production of dips, spreads, and flavors with the inclusion of chickpeas is projected to drive the market demand exponentially. The nutty taste and grainy texture as well as the smooth taste can bolster its demand.
The use of chickpea in local cuisines of Asia Pacific can bode well for the market. The influence of these dishes due to globalization as well as inclination of consumers for trying new dishes can drive its demand. The inclusion of chickpeas in Nepal, Bangladesh, Pakistan, and India is anticipated to drive its sales and boost the global chickpea protein ingredients market revenue. Manufacture of vegetable soups is a positive indicator of the market growth.
Capital funding by private and equity players is evident of the ascending growth trajectory of the chickpea protein ingredients market. In 2018, InnovoPro has managed to raise USD 4.25 million for its proprietary technology of extraction of 70% protein concentrate can be used in dips, mayonnaise, meat alternatives, and others.
Segmentation Analysis
The global chickpea protein ingredients market is segmented on the basis of type, form, category, and application.
By type, the market is segmented into concentrate and isolate. The concentrates segment is expected to expand at a modest growth rate due to its affordability. In addition, the breakdown of concentrate proteins after digestion can drive its demand.
By form, the market is segmented into liquid and dry. The dry segment is estimated to gain a major Chickpea Protein Ingredients Market share due to its long shelf life and ability to withstand high temperatures.
By category, the market is segmented into organic and conventional. The organic segment can display an unusually high CAGR over the forecast timespan due to the awareness of consumers. Demand for beans without the use of pesticides combined with crop rotation deemed to make the land highly productive for cultivation can augur well for the chickpea protein ingredients market till 2023.
By application, the market is segmented into energy bars, snacks (sweet & savory), bakery & confectionery, energy bars, and others. The snacks segment is touted to generate maximum revenue due to the consumption of convenience foods by consumers of all demographics.
Request for free sample copy: https://www.marketresearchfuture.com/sample_request/6484
Regional Analysis
Geography-wise, the global chickpea protein ingredients market comprises North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The APAC region is expected to dominate the market throughout the forecast period due to the inclusion of the bean in most of the local cuisines. The cultivation of rabi crops in winter in countries of India, Pakistan, Myanmar, and other Southeast Asian countries can boost the demand for the global chickpea protein ingredients market.
On the other hand, the North America region can generate significant revenue for the global market due to high production of chickpeas in the U.S. and Mexico. The need for ready-to-eat (RTE) products in supermarkets and hypermarkets can drive the regional demand.
Competitive Outlook
AGT Food and Ingredients, Nutriati, Inc., Cambridge Commodities Limited, Nirman Nutraceuticals Pvt. Ltd., ChickP, Ingredion Incorporated, InnovoPro, Archer Daniels Midland Company, Batory Foods, and others are some of the prominent manufacturers of chickpeas in the market.
Industry News
Biena Snacks, a U.S. consumer snacks company, has decided to launch baked chickpea puffs in an attempt to steer the company in a new direction in terms of brand, direction, and revenue.
Browse related reports:
Sesame Seeds Market Research Report Information By Product Type (White, Black, Others), By Category (Organic, Conventional), By Application (Food & Beverages, Pharmaceuticals, Nutraceuticals, Personnel Care), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) - Forecast Till 2030
Organic Coconut Water Market Research Report: Information By Type (Pure Coconut Water and Mixed Coconut Water), By Packaging (Carton, Bottles and Others), By Distribution Channel (Store-Based And Non-Store-Based) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
PH no.: +1 646 845 9312
Email: sales@marketresearchfuture.com
