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The chickpeas market estimated to be valued at US$17.8 billion by 2031
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Saturday, 08 October, 2022, 13 : 00 PM [IST]
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Our Bureau, Mumbai
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The global chickpeas market is expected to experience above-average growth by reaching US$17.8 bn and registering a positive CAGR of 5.7% through the forecast period 2021-2031, according to a latest report by Fact.MR. Owing to the various health benefits, nutrients, and proteins, chickpeas are being consumed on a large scale across the globe.
Historically, between 2016 and 2020, the sales of chickpeas surged at a CAGR of 4.3%. Sales further heightened during the Covid-19 pandemic, attributed to the increasing shift in dietary patterns of consumers, exhibiting greater interest in consuming plant-based foods. A reduction of over 70% infection rate was observed amongst people who consumed plant-based diets, according to a popular study,
People are using chickpeas in a variety of dishes to add texture and flavour. Chickpeas are also being offered to animals to fulfil their energy and protein requirements. Furthermore, direct consumption of chickpeas and canned chickpeas is propelling demand for chickpeas. Due to all these factors, chickpeas are expected to gain traction in the forecast period.
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