The global chickpea ingredients market size is expected to reach USD 8.16 Billion in 2030 and register a revenue CAGR of 4.8% during the forecast period, according to a latest report by Reports and Data. Increasing adoption of chickpea as nutrition among sports enthusiasts and rising usage of chickpea among consumers for lactose-free and gluten-free protein sources are key factors driving market revenue growth during the forecast period. In addition, rising demand for chickpea ingredients in animal feed products is expected to drive the market between 2022 and 2030. Chickpea ingredients are widely used as a cattle feed due to its low price, easy availability, and high nutritious value for animals, which is increasing its demand, in turn, expected to drive market revenue growth. Additionally, increasing research initiatives to substitute animal-based ingredients to provide sustainability with natural ingredients and quality nutrition is another factor expected to augment growth of the chickpea ingredients market over the forecast period. Moreover, increasing research & development by chickpea product manufacturers for development of newest flavors and food products is expected to propel growth of the market. Furthermore, consumers are preferring lactose-free and gluten-free food products, which has increased adoption of chickpea ingredients. This is another factor which is expected to drive revenue growth of the market in the future.
However, concerns regarding low consumer awareness about nutritional benefits of chickpea are some factors that could hamper revenue growth of the market. Consumers are opting for other ingredients for better protein sources, such as pea ingredients, soy ingredients, and animal-based protein sources, due to its increased popularity regarding nutritional benefits. This has led to low consumer awareness about nutritional benefits in chickpea ingredients, which could hamper revenue growth of the market.
Some Key Highlights in the Report
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For the purpose of this report, Reports and Data has segmented the global chickpea ingredients market based on ingredient type, application, form, and region:
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