Chickpea Protein Powder Market

Market Overview

The Global Chickpea Protein Powder Market Size is projected to grow at CAGR of approximately 5.2% during the forecast period.

The market is expected to grow at a significant rate during the forecast period due to consumers' growing preference for healthy eating. People all over the world are moving toward a food source that is safer, cleaner, and has a lot of nutritional value. In addition, veganism and vegetarianism have seen rapid growth in recent years due to the growing awareness of environmental protection and the popularity of meat-free options.

In 2018, the value of the chickpea protein market worldwide was $415,000. Populace across the globe are leaning towards the food source that is more manageable, clean and contains high dietary benefit. In addition, over the past few years, there has been a rapid rise in the vegetarianism and veganism movements as a result of rising awareness of environmental preservation, concerns about animal factory farming, and the high demand for meat alternatives. 

Market Dynamics

Market Drivers

• Expanding Advancement in the Creation and Utilization of Chickpea Protein

Chickpea proteins have a few medical advantages because of which provincial government has advanced the creation and utilization of chickpea protein which will be supposed to drive the development pace of the market For example, as per the report of the European Commission, the European government declaring measures to advance the creation and utilization of chickpeas, lentils, rapeseed, soybeans and related fixings in November 2018. The market's production and sales of chickpea protein are expected to significantly increase as a result of this move.

• Rising use of Chickpea Protein in Food Industry

The prepared food and pastry kitchen industries, as well as dairy alternatives and meat substitutes, account for the majority of chickpea protein usage in the food industry. The use of chickpea protein in the food industry is expected to drive the market's growth rate in the coming years, as prepared foods and meat alternatives become increasingly popular.

The market is Expanding Due to Consistent Growth in the Sports & Health Nutrition Industry.

The United States had nearly 38,477 health clubs in 2016, according to the International Health Racquet and Sports club Association. In 2018, 183 million people worldwide had health club memberships, and this number is expected to rise to 230 million by 2030. Health club memberships in the United States increased by 27% from 58 million in 2010 to 73.6 million in 2019, indicating a rise in public awareness of physical fitness. As a result, the demand for nutritional and health products is driven by the rising number of people joining health clubs and adopting healthy lifestyles.

In addition, consumers participation rates in fitness sports and activities are rising rapidly. The Physical Activity Council reports that in 2018, nearly 64% of Americans over the age of six participated in activities like running, jogging, and high-intensity training. As a result, consumers are increasingly leading active and healthy lifestyles, resulting in an increase in the demand for protein supplements.

Due to their high nutritional content, protein powders are gaining popularity among health-conscious consumers. consumers.

Market Restraints

• Effects Brought on by Chickpea Protein

The chickpea protein powder has a lot of healthy nutrients, but the market isn't growing because of some side effects. A high intake of chickpea protein and its components can damage the digestive system and cause severe digestive issues. Additionally, it causes bloating and acidity, limiting the use of chickpea protein to some extent.

The food industry extensively utilizes chickpea protein; Consequently, it offers a significant advantage over other applications. The most significant applications of chickpea protein are found in the substitute meat, dairy alternatives, prepared food, and pastry kitchen industries. The food industry is expected to use chickpea protein at a rapid CAGR in the coming years due to growing concerns about lactose intolerance and gluten sensitivity as well as the growing use of meat-free and prepared foods.

Since recent years, the food and beverage industry has grown at a rapid rate. In response to the growing demand for beverages and supplements that contain a lot of protein, more manufacturers are looking for alternative protein sources that would allow these businesses to use chickpea protein.

Market Scope

Segmental Analysis

Segment by Type

• Organic

This section contains chickpea protein powder made from chickpeas cultivated organically. Genetically modified organisms (GMOs), synthetic fertilizers, or pesticides are not used in the production of organic chickpea protein powder. It satisfies consumer need for protein powder products made from natural and sustainable sources.

• Conventional

This section contains chickpea protein powder made from chickpeas cultivated traditionally. During the growing process for conventional chickpea protein powder, pesticides, GMOs, and fertilizers may be used. It is a more prevalent choice on the market.

Segment by Application

• Hypermarkets/Supermarkets

This sector covers the sale of chickpea protein powder in large-format retail establishments like supermarkets and hypermarkets. To serve the broad consumer base, these businesses offer a huge selection of protein powders, including chickpea protein.

• Convenience Stores

The availability of chickpea protein powder at convenience stores is the subject of this part. These shops often provide consumers looking for protein items on the go with quick and practical buying options.
Specialty Food Stores

This section covers the sale of chickpea protein powder at speciality grocery stores. A wide variety of speciality and health-related products, including plant-based protein powders, are the main focus of these shops.

Regional Analysis

The Global Chickpea Protein Powder Market is segmented by region as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

North America

The market for chickpea protein powder is expanding quickly in North America as interest in plant-based protein alternatives rises. The need for vegan and vegetarian protein options is on the rise, and consumers who value their health are turning to the United States and Canada as important markets.

Europe

Chickpea protein powder has a sizable market in Europe, with the likes of Germany, France, the UK, and Italy dominating the market. The demand for chickpea protein powder as a vegan protein source has been spurred by the region's strong emphasis on plant-based diets and sustainable food options.

Asia-Pacific

Chickpea protein powder is becoming more and more popular in the Asia-Pacific region. Major markets include those in China, Japan, India, and Australia. Growing health consciousness, the popularity of plant-based diets, and the high rate of vegetarianism in this area all support market expansion.

 

Key Players

1. Omega Protein Corporation
2. DuPont
3. Kerry
4. Cargill
5. CHS
6. Axiom Foods
7. Fonterra
8. ADM