The Global Chickpea Protein Market is projected to reach a valuation of US$ 165.1 million by 2033, AGT Food and Ingredients and Batory Foods are the top players in the chickpea protein Industry | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Surging Demand for Clean-labeled Food Products with Elevated Nutrition and Taste to Catalyze Chickpea Protein Sales: Market Anticipated to Expand at 5.1% CAGR. Europe is expected to account for more than one-third of the global market value due to the growing trend towards veganism in the region
NEWARK, Del, March 15, 2023 (GLOBE NEWSWIRE) -- The global chickpea protein market is predicted to register a CAGR of 5.1% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 100.9 million in 2023 to US$ 165.1 million by 2033 end.
Chickpea protein consumption is anticipated to increase due to increasing demand from the food industry. The extensive use of chickpea protein in the food and pastry kitchen industry is expected to positively influence over the next 10 years. An increasing shift in food consumption patterns favoring meat electives and prepared food items is predicted to stimulate market growth.
Development of alternative meat formulations for categories like snacks, dressings, etc., is forecast to catalyze market development in the coming years. The affordability, versatility, and nutrient-rich properties of chickpeas are expected to help the market incline forward. The usage of chickpea protein for weight management, safety from chronic diseases, and stimulating other aspects of health is projected to push the market growth in the years to come.
Top Highlights from the FMI’s Analysis of the Chickpea Protein Market:
North America is assessed to lead the global market over the next 10 years. The United States chickpea protein industry is projected to attain US$ 53.6 million by 2033. The CAGR assumed for the United States market is anticipated to be 4.7% over the forecast period.
In the Europe region, Germany is projected to hold a significant market percentage. The German market is anticipated to attain US$ 13.21 million by 2033. Over the forecast period, the market is expected to expand at 4.4% CAGR.
The United Kingdom market is predicted to attain US$ 8.3 million by the end of 2033. Over the upcoming years, the market is anticipated to register a 3.6% CAGR.
In the European region, the Spain market is expected to exhibit significant growth, expanding at a CAGR of 5.2% over the forecast period. The market is set to achieve a market valuation of US$ 7.1 million by 2033.
Within the Asia Pacific region, China’s contribution is anticipated to stand out. By the end of 2033, the China market is expected to attain US$ 17.8 million. The market is projected to perceive a growth rate of 6.4% over the forthcoming years.
The protein isolates segment, based on product type, is expected to register a 5.4% CAGR, up from the 3.6% CAGR observed in the historical period.
The conventional chickpea protein vertical, based on nature, is projected to expand at a CAGR of 5% from 2023 to 2033, lifting from the 3.3% CAGR witnessed in recent years.
In March 2023, new, innovative food products developed using InnovoPro's chickpea protein are planned to be showcased in snacks, dressings, dairy, and meat alternatives categories. These newly developed products are expected to be showcased at Natural Products Expo West 2023.
In September 2022, Ingredion Inc. announced its equity stake in InnovoPro, a chickpea ingredient developer.
Explore FMI’s related ongoing Coverage on Food and Beverage Domain
Whey Protein Market Size: The whey protein market is estimated to be worth US$ 19.6 billion in 2023 and is predicted to grow to US$ 40.3 billion by 2033, at a CAGR of 7.5% from 2023 to 2033.
Whey Basic Protein Isolates Market Share: The global whey basic protein isolates market size is expected to reach US$ 431.5 Million in 2022 and exhibit steady growth at a CAGR of 16.6% in the forecast period from 2022 to 2032.
Pea Protein Market Trends: The global pea protein market is expected to grow at a CAGR of 11.8%. The overall pea protein market share value is projected to increase to US$ 204.5 Million by the end of this projected period in 2032.
Pea Protein Ingredients Market Value: The pea protein ingredients market is projected to be valued at US$ 1.6 billion in 2023 and is rising to US$ 3.4 billion by 2033. The sales of pea protein ingredients grow at a CAGR of 7.9% during the forecast period.
Pea Fiber Market Outlook: the global Pea fiber market is projected to expand at a CAGR of 5.1% during the predicted time frame. Forecasts indicate that the market will be valued at USD 2,683.9 Million in 2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
