US Chickpea Protein Ingredients Market

us chickpea protein ingredients market Overview

North America, holding the lion's share of the global chickpea protein ingredients market at 36.13% in 2018, is poised to maintain its dominance during the forecast period. The region's market value reached USD 37.27 million in 2018, and a robust compound annual growth rate (CAGR) of 11.2% is anticipated. The factors contributing to North America's significant market share include the increasing adoption of plant-based diets, a rising number of health-conscious consumers, and a growing preference for sustainable and environmentally friendly food choices. The United States, being a key player in the global food industry, is witnessing a surge in the demand for plant-based protein sources.

The trend is driven by various factors, including concerns about animal welfare, a desire for healthier dietary options, and an increasing awareness of the environmental impact of conventional livestock farming. Consumers in North America are actively seeking alternatives to traditional protein sources, and chickpea protein ingredients align well with the rising demand for plant-centric diets. Europe, the second-largest market for chickpea protein ingredients in 2018, exhibited a market value of USD 29.34 million.

The region is expected to maintain a robust growth trajectory with a projected CAGR of 11.7%. Europe has been a key player in the global shift towards plant-based eating, with countries like the United Kingdom, Germany, and Sweden leading the way in adopting vegan and vegetarian lifestyles. The European market benefits from a strong consumer awareness of the health benefits associated with plant-based diets, as well as a growing consciousness about the environmental impact of conventional agriculture. In particular, the United Kingdom has witnessed a substantial increase in the number of vegans and vegetarians, reflecting a cultural shift towards more sustainable and ethical food choices.

The popularity of plant-based diets is further bolstered by the availability of a diverse range of plant-based products, including those featuring chickpea protein ingredients. Asia-Pacific, however, is expected to register the highest CAGR of 12.2% during the forecast period, signaling significant growth potential in the region. The Asia-Pacific market for chickpea protein ingredients is driven by various factors, including a rising population, increasing disposable income, and changing dietary preferences. Countries like India, China, and Japan are witnessing a notable shift towards plant-based diets, influenced by factors such as health consciousness, ethical considerations, and a growing awareness of sustainable food choices. In India, where vegetarianism has deep cultural roots, there is a rising interest in plant-based proteins as a sustainable and nutritious alternative.

Chickpeas, a staple in Indian cuisine, are well-accepted, and the extraction of protein from chickpeas aligns with the cultural preferences and dietary habits of the population. Additionally, with the increasing global awareness of the health benefits associated with plant-based diets, consumers in Asia-Pacific are actively seeking plant-based protein sources, creating a favorable market landscape for chickpea protein ingredients. The growth of the chickpea protein ingredients market in Asia-Pacific is also driven by a surge in urbanization, a rise in health-conscious consumers, and an expanding middle class with an inclination towards adopting Western dietary trends. As economies in the region continue to grow and lifestyles evolve, the demand for plant-based protein options, including those derived from chickpeas, is expected to witness substantial growth.