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.
XploreMR has developed an exclusive forecast study on the global market for chickpea flour. The report offers comprehensive analysis on the current locus and future prospects of the global chickpea flour market for the assessment period, 2017-2026. By employing multiple research approaches and methodologies, the report has created an all-embracive study on factors influencing the sales and production of the global chickpea flour market. The report has been developed to cater to the concerns of key market participants, and provide solutions with respect to product development, market entry and new applications. A holistic outlook on the global chickpea flour marketplace has been offered in this study. The scope of chickpea flour consumption across different regions has been gauged. Manufacturing insights, trade analysis inputs, and consumer-side research have been infused with the market size estimations developed in the report.
The report provides an executive summary that enlists the key findings from segmental analysis provided in the following sections. The executive summary follows up with a market overview that sets the tone for the rest of the research report. Historic developments and notable technological advancements encompassing the production of chickpea flour have been compiled in the overview. The overview also reveals the subjective undercurrents of the global chickpea flour landscape. Further, the study discloses the taxonomy of chickpea flour market, which has been employed for analysis. The global chickpea flour market has segmented in the report on the basis of types of product-type, distribution channel, application, and region.
|Region||Product Type||Distribution Channel||Application|
The report also provides additional information on cross-segmental analysis and market size estimations for key countries in these regions. The report follows the segmental analysis of the global chickpea flour market by developing a detailed assessment of the competition. Industry leaders and emerging players, both, operating in the global chickpea flour market have been profiled in the report. The current market standings of these companies have been compared and the report has also revealed the strategic developments of these companies.
Scope of the Report
A key advantage of availing this report is understanding the impact of range of factors influencing the expansion of the global chickpea flour market. From macroeconomic factors to industry trends, the report has extensively analyzed the dynamics of the overall chickpea flour market. For interpreting market size estimations, the report has used metric such as absolute dollar opportunities, compound annual growth rate, Year-on-Year growth rate, and BPS index. The report has developed this report for capturing the global understanding, and market size estimations have been quantified in US dollars (US$). The scope of the report is delivering inferences that can influence the future growth strategies of market participants. Companies partaking in the expansion of the global chickpea flour market can avail the valuable insights provided in the report and consider them reliable for planning their next steps towards future market direction.
Chickpea Flour Market: Global Industry Analysis 2012-2016 & Opportunity Assessment 2017-2026Buy Now
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