Chickpea protein Ingredient Market Scope:
The global Chickpea Protein Ingredient Market report showcases the continuous growth of the market over the last few years that is expected to reach USD 12,37.2 million by the end of 2030 at a growing CAGR of 11.20%. The market is offering lucrative opportunities to the global manufacturers that are forming a shift in the consumer preference towards the organic ingredients and the increase in the cases of lactose intolerance.
Chickpea protein Ingredient Market are the additives that are formed of isolates, concentrates and flour. These ingredients are used in food and animal feed for enhancing the protein content of the end products. With the increased adoption of veganism and the demand for the consumption of plant-based ingredients, there has been a considerable rise in the demand for chickpea protein ingredients. There has been region-cultivation of chickpeas that is creating a heavy demand and supply gap, thus reducing the growth and sales of chickpea protein ingredients.
The rise in the concern regarding animal welfare, human health and the increasing environmental concerns has led to the rise in the popularity of vegan food in developed and developing countries. The rising health-conscious population and the adoption of vegetarian diets is increasing the popularity of chickpea protein ingredients. There has been a high demand for chickpeas and the market is expected to offer numerous opportunities to the vendors in the form of a shift in the consumer preferences towards organic ingredients.
Which businesses dominate the industry for chickpea protein?
Top Key Players: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), Nutraonly (Xi'an) Nutritions Inc. (China)
Chickpea protein Ingredient Market Segmentation:
The global Chickpea Powder protein ingredients market can be segmented based on the type, category, form, and applications of the product as seen in the growth of the global market. In terms of type, the global chickpea protein ingredients market can be split into:
- Isolates
- Concentrates
- Flour
The isolates section dominated the global market with a share of almost 50% in the year 2018. Based on the category, the global product market can be divided into:
- Conventional
- Organic
The conventional segment accounted for the dominant share in 2018 and is estimated to reach USD 500.87 million by 2025. Based on the form, the global market can be bifurcated into:
- Liquid
- Solid
And based on applications, the global market can be divided into:
- Animal feed
- Food and beverages
- Others
What is the magnitude of the market for chickpea protein ingredients industry?
By 2030, it is anticipated that the industry for chickpea protein will be worth US$ 1237.2 million.
Regional Analysis:
There has been an increase in the number of flexitarians that is driving the global Chickpea Powder protein ingredients market in the regions of Europe, North America, Asia-Pacific, and the rest of the World. The North American region dominates the global Chickpea Price market, and the region is projected to grow by USD 1327.2 million from 2022-2030. The US is also expected to be a significant player, contributing to the growth of the global market. The Asia-Pacific market is also expected to register a higher CAGR during the forecast period and due to the increasing health concerns among the consumers and the large-scale production of chickpeas in this region.
Recent Developments:
More than 600,000 people in the United Kingdom identified themselves as vegan in 2018, as per a poll sponsored by the Vegan Society and the Food & Your surveys, which were coordinated by the Food Standards Agency (FSA) as well as the National Centre for Social Science Research
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