According to the latest research reports, Chickpea Protein Ingredients Market size is expected to reach USD 1237.2 million by the end of the year 2030, registering a CAGR of 11.20% during forecast period.
Chickpea protein components are used as food additions and come in the concentrate, isolates, and ground floor. They are used in the production of food and livestock feed to increase the protein level of the final product. The growing popularity of veganism and the growing need for plant-based products are both contributing to the market's expansion. However, the region-specific production of chickpea is producing a large consumption and supply imbalance, inhibiting the expansion of the chickpea protein ingredients market growth and resulting in a rise in costs and a heavy reliance on chickpea imports from other countries. Because of a change in consumer taste towards natural ingredients and an increase in the frequency of lactose intolerance, the industry is poised to provide profitable prospects for suppliers.
This report contains all the global Chickpea Protein Ingredients Market analysis and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the Chickpea Protein Ingredients Market forecast for 2030 is also included in the report.
Covid 19 Analysis
The emergence of COVID-19 has triggered a worldwide catastrophe, and the epidemic has already caused global economic harm, affecting 195 nations. The worldwide chickpea protein ingredients market will likely face challenges due to trade limitations, statewide lockdowns, limited manufacturing capacity and workforce, and closed/partially closed international boundaries. Several nations have heavily restricted agriculture commerce, reducing the availability of raw materials for chickpea protein production.
Food Allergy Research and Education (FARE) estimates that 32 million individuals in the United States have some food allergy, which prevents them from ingesting particular substances, especially dairy products. Milk, wheat, eggs, and soy are the four most common allergens. Similar to lactose intolerance, which prevents people from processing dairy products, over 25percent of Americans have it. All of these causes have driven chickpea protein ingredients market value.
Confectionery, Bakery, and snack food companies are turning to plant-based protein substitutes to meet the growing demand from the vegan community. This is projected to be a key growth factor in the market for the foreseeable future.
Nutritional benefits aside, there are drawbacks to using a chickpea protein powder limiting its expansion. People who eat a lot of chickpeas and chickpea protein components risk developing severe digestive problems and damaging their digestive tract. Additionally, it might produce gas, bloating, and acid reflux, all of which may discourage some people from trying it.
Not only are chickpeas hard to come by, but when they aren't grown properly, their nutritional profile suffers, which in turn impact the performance of the proteins they contain. All of the elements mentioned above provide significant difficulties for the Chickpea Protein Ingredients Market 's participants.
Cumulative Growth Analysis
Concerns about animal welfare, public health, and ecology have increased worldwide demand for vegan cuisine in industrialised and developing nations. Medications and hormones in cattle feed are raising worries among the wellness populace. It is estimated that the UK vegan population expanded from 150,000 in 2021 (0.25 per cent of the entire population) to 600,000 (1.16 per cent of the entire population) by the end of 2021. The increased popularity of plant-based diets and complex adaptive is fueling demand for plant-based protein, boosting the worldwide chickpea protein ingredients market. The expanding application range of chickpea protein ingredients market outlook is also driving global demand.
Value Chain Analysis
According to the reports, the worldwide Chickpea Protein Ingredients Market is divided into categories, forms, applications, and regions. Sorted into three categories: concentrates, isolates, and flour, the market has been segmented. In 2021, the isolates category accounted for approximately half of the market. The worldwide market for chickpea protein components has been divided into categories of conventional and organic. In 2021, the traditional sector had a higher proportion of the market. By 2030, it is expected to achieve a value of USD 500.87 million.
The worldwide Chickpea Protein Ingredients Market has been divided into two types based on their physical properties: solids and liquids. In 2021, the market was led by the solids sector. During the predicted period, it is anticipated to have a higher CAGR. The market has been segmented into food & beverage, pet food, and others based on Application. Dairy goods, Bakery and confectionery items, drinks, nutritional supplements, sweet and savoury snacks, and newborn nutrition are all subcategories of the food and beverage industry. From 2022 to 2030, the fastest-growing market is predicted to be animal feed, with a CAGR of 11.9%.
The market is segmented on the types, categories, forms, applications, and regions. The global Chickpea Protein Ingredients Market trend is expected to witness decent growth during the forecast period.
The Application is segmented into food & beverage, pet food, and others.
The market is segmented into Dairy goods, Bakery and confectionery items, drinks, nutritional supplements, sweet and savoury snacks, and newborn nutrition.
According to the reports, It has been divided into North America, Europe, Asia-Pacific and the rest of the globe by region for the worldwide market for chickpea protein ingredients. In 2021, chickpea protein components from North America accounted for most of the worldwide market. The region's market is anticipated to increase by USD 131.92 million. The chickpea protein ingredients market share in North America is predicted to increase rapidly, with the United States playing a prominent role. As consumers become more concerned about their health and chickpeas are grown on a huge scale in Asia-Pacific, the market is likely to grow quickly throughout the forecast.
The major companies are expanding their operations and entering unexplored regions to increase their customer bases. During the review process, multinational players might acquire to expand their global footprint. Market growth for plant-based protein components in the food & beverage and nutritional supplement sectors is driving market expansion, allowing competitors to introduce new chickpea protein products and expand their worldwide Chickpea Protein Ingredients Market shares.
Major Key Players
The following report comprises of –
More than 600,000 people in the United Kingdom identified themselves as vegan in 2021, as per a poll sponsored by the Vegan Society and the Food & You surveys, which were coordinated by the Food Standards Agency (FSA) as well as the National Centre for Social Science Research.
Global Market, by Type
Global Market, by Category
Global Market, by Form
Global Market, by Application
Food & Beverages
Global Market, by Region
Rest of the World
|Market Size||USD 1237.2 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Category, Form, Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Archer Daniels Midland Company (US), Nutriati Inc. (US), Batory Foods (US), ChickP (Israel), InnovoPro Ltd (Israel), Cambridge Commodities Limited (UK), AGT Food and Ingredients Inc. (Canada), Ingredion Incorporated (US), Chickplease (US), and Nutraonly (Xi'an) Nutritions Inc. (China)|
|Key Market Opportunities||Growing demand from the vegan community|
|Key Market Drivers||Growing popularity of veganism, Growing need for plant-based products|
Chickpea protein ingredients market is expected to reach USD 1237.2 million by 2030.
Chickpea protein ingredients market is expected to exhibit a strong 11.20% CAGR over the forecast period from 2022 to 2030.
Leading players in the chickpea protein ingredients market include Archer Daniels Midland Company (US), Nutriati Inc. (US), Batory Foods (US), ChickP (Israel), InnovoPro Ltd (Israel), Cambridge Commodities Limited (UK), AGT Food and Ingredients Inc. (Canada), Ingredion Incorporated (US), Chickplease (US), and Nutraonly (Xi'an) Nutritions Inc. (China).
North America dominates the global chickpea protein ingredients market.
Growing prevalence of veganism is a major driver for the chickpea protein ingredients market.