Global Chickpea Flour Market to Surge Past Valuation of US$ 5 Bn By 2026

The global chickpea flour market is anticipated to register healthy growth through the forecast period (2016 to 2026), according to a new market study by XploreMR. The growth of the market is mainly attributed to increasing awareness among consumers regarding health benefits associated with chickpea flour. Consumption of chickpea flour aids in enhancing immunity and prevents inflammation, and has hence penetrated into many cuisines in Asian countries. Furthermore, chickpea flour helps in stabilizing blood sugar and prevents the incidence of diabetes, thus gaining significant traction among health-conscious consumers.

On these lines, chickpea flour is finding significant adoption in the bakery and snack sectors, which will significantly contribute to the growth of the market. On the back of these facets, the global chickpea flour market is projected to surge past US$ 5 Bn in terms of value by the end of the forecast period.

Surging Consumer Awareness Regarding Health Benefits of Chickpea Flour Fosters Growth

High awareness regarding the health benefits of chickpea flour coupled with the growing trend of health and wellness is the major growth attribute to the chickpea flour market. In addition to maintaining optimal levels of blood sugar and minimizing the risk of diabetes, consuming chickpea flour reduces cholesterol levels, hypertension, and protects against cardiovascular diseases. A shift in life-styles, emphasis on fitness, and changing dietary preferences will hold the demand high for chickpea flours in the years to come.

Chickpea flour has gained popularity in developed regions such as North America and Europe in the recent past, as a large consumer base in the region seeks healthy food products. Similarly, the health and wellness trend will continue to fuel the demand for chickpea flours in North America and Europe regions. Additionally, chickpea flour has been gaining remarkable traction as a raw material in the preparation of bakery, snack, and savory products, thereby further pushing the growth of the market.

Bakery and Confectionery Segment to Attain Valuation of US$ 2.5 Bn

Among the wide range of applications, chickpea flour finds adoption in - such as bakery and confectionary, extruded products, beverages, animal feed, and dairy products - the bakery and confectionery segment is anticipated to drive the majority of revenue.

By the end of the forecast period, the bakery and confectionery segment is projected to hold a value of US$ 2.5 Bn.  On the basis of available product type, desi chickpea flour is the most sought-out product, accounting for the majority of market share. Following desi chickpea flour is kabuli flour which will also hold a notable share in global market value.

Rampant Production in India Catapults Regional Growth of Asia Pacific

India is the leading producer of chickpea flour and is expected to remain at the forefront of market growth through the forecast period. In addition to being the largest producer, the region is also the biggest consumer owing to wide-scale availability and affordability.

Chickpea is harvested from January to March in the country, and the subsequent decline in production during these months creates an imbalance in the global demand and supply. Backed by the presence of India, Asia Pacific excluding Japan (APEJ) will reign supremacy over the regional landscape through the forecast period.

Competitive Landscape of Global Chickpea Flour Market

Some of the major market players studied in the research include, ADM, The Scoular Company, SunOpta, Anchor Ingredients, EHL Limited, Batory Foods, Diefenbaker Spice & Pulse, Blue Ribbon, Great Western Grain, Best Cooking Pulses, Bean Growers Australia, Parakh Agro Industries Ltd, and CanMar Grain Products. The market players are focusing on strategic partnerships and strengthening supply chains to gain a competitive edge.