The global chickpea market is experiencing a significant growth, and is anticipated togrow considerably in next few years. Chickpea is a crop that is an annual legume of the Fabaceae family. It comes in different types commonly named as garbanzo bean, Egyptian pea, Kabuli chickpeas, and Bengal gram. Chickpea seeds are high in protein, fiber, zinc, and folate. These health benefits are fueling the consumption of chickpea in form of snacks or meals. Chickpea is popular and is available in the market as ready-to-eat product. The easy cooking options, presence of adequate nutrients, and convenient buying options are together propelling the growth of global chickpea market.
Companies covered: Mast Qalander Group of Companies, Arbel S.A., Adani Wilmar Limited (AWL), R. Young Seeds Inc., Cargill Foods India, BEAN GROWERS AUSTRALIA, Indraprasth foods Ltd., AGT Food and Ingredients Inc., Wimmera Grain Company,BroadGrain Commodities Inc.,JOVA GRANEROS S.A. de C.V., AGROCROPS, and OLEGA S.A.
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COVID-19 scenario analysis
Production shutdown scenario
The cultivation for chickpeas crop is dependent on the rainfall, but the further processing of chickpeas into frozen, dried, canned form, or as grain-free flour could not be undertaken due to COVID-19 outbreak. Hence, the market has suffered decline in revenue and production.
Disrupted supply chain
The supply chains have been disrupted due to lack of transportation across the borders and this hampered the export of chickpeas globally, resulting into reduced revenue.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Chickpea has been consumed globally under different names and types. Chickpeas is considered as a foreign exchange earning crop, and thus it has a global market orientation.Surge indemand from health-conscious consumers, owing to the nutritional benefits of chickpeas is driving the global market growth. Upsurge in application of chickpeas in the food & beverage industry in meals, soups, and saladsis fueling the demand not just from the residential sector but also commercial sector. This increased demand enhances the market reach and allows business expansions and growth. However, the chickpeas crop is totally reliant on water supply, thus, lack in rainfall is likely to hinder the market growth.
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The global chickpea market trends are as follows:
New product launches to flourish the market
Chickpeas have been highly consumed across the globe, owing to their convenience in cooking and high nutritional content. Chickpeas are eaten as meals or in salads and soups, and are grinded to make chickpea grain-free flour that is gluten-free. Thus, consumers who are allergic to grain-based flour can easily be served with chickpeas flour. These wide and diverse applications make chickpeas a dynamic product in the market.
Consumers are developing preferences for highly nutritive andready-to eat light snacks, which drives the market for chickpeas, globally. Chickpeas contain fiber, zinc, folate, carbohydrates, proteins, vitamins, magnesium, and potassium, which makeit a healthy choice. Chickpeas is said to improve the digestion process, enhance the blood regulation, and aid antioxidant supply. Hence, all these factors are expected to augment the revenue for the market, implying to a fastened pace of global growth.
Diversification in distribution channel
Presently, consumers are highly dependent on online platform, which urges the need for marketers to expand their business through online platforms. For this the key market players develop a mode of online distribution channel wherein the customers can place an order as per their choices or the list of options available.This not just saves time but also serves consumers at their convenience and eases deliveries.
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Manufactures enter into partnership with online retail stores such as Amazon.com and Walmart to provide platform for buying to customers. The offline stores have a range of outlets from supermarkets and hypermarkets to departmental stores and groceries. Thus, availability of chickpea through different platforms, which cater to the increasing demand of mass population drives the market growth.
Key benefits of the report
- This study presents the analytical depiction of the global chickpea industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global chickpea market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global chickpea market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
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