Chickpeas Market Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022
The global chickpeas market has witnessed a steady growth in recent years. Some of the factors which have influenced the demand include increasing population, improving standards of living, health benefits, rising applications in food industry, etc.
A recently published report by IMARC Group, entitled “Chickpeas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global chickpeas market reached a value of 15 Million Tons in 2016. Also known as garbanzo beans, chickpeas belong to the family of fabaceae and subfamily of faboideae. They contain high levels of carbohydrates, proteins, vitamins, manganese, folate, dietary fibre and minerals. Due to their high nutritional content, chickpeas are used as a popular food for a healthy diet. There are broadly two different varieties of cultivated chickpeas- Desi and Kabuli. The Desi chickpeas are cultivated mainly in the Indian subcontinent while the Kabuli in West Asia and the Mediterranean region. According to the report, the market is further expected to grow at a CAGR of 5% during2017-2022, reaching a value of 20.7 Million Tons by 2022.
The report provides a comprehensive analysis of the market and investigates the key factors which have augmented the demand for chickpeas globally. The major factor is the increasing population in the developing regions, where the demand of food supply is rising rapidly to meet the consumption requirements. Moreover, due to improving standards of living, consumers are shifting towards heathier and tastier foods products. The health benefits offered by chickpeas include improvement of digestive system, weight management, reduction in inflammation, strengthening of bones, prevention from the risk of heart-attacks and diabetes. Further, chickpeas are also used as an important ingredient to enhance the aroma and taste of various food products such as sauces, soups, dips and spreads.
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The report has segmented the global chickpeas market on the basis of key regions. India represents the largest producer of chickpeas accounting for the majority of the global production. It is followed by Australia, Pakistan, Myanmar, Ethiopia, Turkey, Iran, Mexico, Canada and Russia. The details of the top exporting countries are also given in the report. Currently, Australia represents the biggest exporter of chickpeas accounting for more than one-third of the total global export volumes. Some of the other major exporters of chickpeas include the United States, Ethiopia, Argentina, Tanzania, Russia, India, Mexico, Canada and Iran. Apart from this, the report has covered the competitive landscape of the market and has found that it is fragmented in nature with a number of global and local players. There port has further provided a detailed value chain analysis of chickpeas. This encompasses all the activities in the value chain such as cultivation, procurement, processing, sales and distribution.
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The report provides a comprehensive analysis for setting up a chickpeas processing plant. The study covers all the requisite aspects of the chickpeas industry and provides an in-depth analysis of the chickpeas market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. It also offers SWOT, Value Chain and Porter’s Five Forces analysis and regional segmentation followed by an analysis of the competitive landscape. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the chickpeas industry in any manner.
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