Garbanzo Beans Market Size, Share, Growth, and Industry Analysis, By Type (Kabuli Chickpeas & Desi Chickpeas), By Application (Online Sales & Offline Sales), and Regional Forecast to 2032

GARBANZO BEANS MARKET OVERVIEW

The global Garbanzo Beans Market size was USD 177 million in 2023 and is projected to touch USD 243.2 million by 2032, exhibiting a CAGR of 3.2% during the forecast period.

Garbanzo Beans Market, or chickpea market, has been on the rise over the last several years as more people are shifting to a protein-based, less processed diet. Garbanzo beans, commonly known as chickpeas, are known to contain high nutritional value that includes protein, fiber, and essential nutrients in foods and recipes globally. The growth of this market is to provide their applications in both conventional and creative ways in cooking, such as salads, soups, and snacks. Thus the Garbanzo Beans Market remains rather promising and follows consistent tendencies towards further diversification in terms of sustainability and healthy nutrition consumption.

GLOBAL CRISES IMPACTING GARBANZO BEANS MARKETCOVID-19 IMPACT

Garbanzo Beans Industry Had a Negative Effect Due to Logistical challenges during COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic affecting the Garbanzo Beans Market heavily, whereby demand was affected due to some supply chain interruptions and other supply chain challenges. The lockdowns and restrictions affected the production and distribution of garbanzo beans and thus limited the supply and availability, hence leading to high prices. Economic downturn that resulted from the pandemic affected people’s spending power, which reduced their purchasing of non-essential and premium foods, hence worsening the market conditions. Therefore, many challenges were realized within the Garbanzo Beans Market during the pandemic period.

LATEST TREND

"Market growth is driven by innovative, plant-based products"

Garbanzo Beans Market features a high demand for plant-based proteins due to the increasing popularity of veganism and vegetarianism. One of the emerging trends is the application of garbanzo beans in new product development of different processed foods like vegetable burgers and nuggets, snacks, dairy formulations, and more. This change in extending the use of garbanzo beans in a range of foods stems from the nutritional value of such beans to consumers and an increase in demand for environmentally friendly products. Hence, the market is experiencing increased innovation and diversification of products that make use of garbanzo beans’ advantages.

GARBANZO BEANS MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into Kabuli Chickpeas & Desi Chickpeas

• Kabuli Chickpeas: Kabuli chickpeas are large, pale beans that are used in Mediterranean, Middle Eastern, and Western cooking. Because they are fairly tender and flavorless, they are excellent served in salads with tahini or soups, which helped them to gain popularity in international markets. The continuous rise in the demand for plant-derived foods rich in protein has further enhanced the market demand for Kabuli chickpeas.
• Desi Chickpeas: Desi chickpeas are even smaller, usually darker, and covered with a rough outer coat, commonly used in SA and African dishes. They are also rich in fiber and antioxidants; they are incorporated in culturally appropriate recipes such as curries and as a flour for any culinary snacks. The enhancement of the overall knowledge of peoples regarding their nutritional values and its use in traditional diets for chickpeas or Desi variety also fuels the market demand for Desi chickpeas.

BY APPLICATION

Based on application, the global market can be categorized into Online Sales & Offline Sales

• Online Sales: An increasing number of people turn to buying garbanzo beans on the internet owing to the advancement in e-commerce. Online channels, especially in B2C markets, are more preferred due to price comparison, availability of a relative broader product assortment, and purchase in bulk. The changing consumer preferences that are geared towards healthier and environmentally friendly food products have also affected the online sales for the garbanzo beans positively.
• Offline Sales: The direct form of off-line selling of garbanzo beans is supermarkets, grocery stores, and specialty food stores, where the buyer can touch and feel the beans before purchasing them. This segment has continued to be healthy because consumers have confidence in local merchants to get their stock in the shortest time possible. Promotion and place strategies cover advertisements and campaigns created to get the consumers interested in the garbanzo beans and get them to buy the legumes from physical stores.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.                          

DRIVING FACTOR

"Market growth is fueled by increasing demand for plant-based beans"

Growing consciousness about the intake of plant-based meals and vegetarianism is fueling the Garbanzo Beans Market since consumers look for non-meat protein sources. Being proteinous and nutritious, garbanzo beans have emerged as more and more incorporated as a key ingredient and food additive in the meatless and health food segments.

"Market growth is driven by rising demand for nutritious beans"

Garbanzo beans are rich in protein, fiber, vitamins, and minerals, making them nutritionally valued for health-boosting. They include enhanced gut health and better control of obesity, which are being embraced by consumers who want to embrace healthier lifestyles. This awareness is creating the demand in whole and processed forms of Garbanzo Beans Market Growth.

RESTRAINING FACTOR

"Market growth is hindered by weather-related supply fluctuations and disruptions"

The global garbanzo bean market is again hampered with fluctuations in the supply due to fluctuating weather conditions that have an impact on the yield. Fluorescing climatic conditions, for instance, dry spells and floods, affect the output capabilities as well as the prices. Such oscillations can cause disruptions of supply chains and increased prices of goods and services for the final consumer and enterprises.

OPPORTUNITY

"Market growth is driven by expanding plant-based food applications"

An opportunity with multi-fold growth potential in the Garbanzo Beans Market is the increasing trend of plant-based foods. This consumer incline towards vegan and vegetarian meals is an opportunity to introduce new product applications of garbanzo beans, including burgers, and ready-to-eat products. Thus, expanding on this trend and creating new uses for ‘the market’ can indeed draw wider consumer interest and enjoy great growth.

CHALLENGE

"Market growth is challenged by competition from other plant protein sources"

A major threat likely to be incurred by the Garbanzo Beans Market is the presence of other plant protein substitutes. With growth in the market, there are other products such as lentils, peas, and soybeans that have similar nutritional value, hence exerting pressure on the prices, and the market is split. Also, these competitive factors can be worsened by changes in agricultural circumstances and can impact supply reliability and progression in the markets.

GARBANZO BEANS MARKET REGIONAL INSIGHTS

• NORTH AMERICA

North America holds the largest garbanzo bean market owing to regional advancements in agricultural technology and the food processing industry, increased procurement of plant proteins, and a large demand for legumes. The United States Garbanzo Beans market has a major role , the country also being the largest producer and consumer of Garbanzo Beans. It is underpinned by rising consumers’ focus on well-being and a strong food innovation category. This is a result of the US’s focus on healthy and sustainable food sources, thus helping the food delivery market to grow within the region.

• EUROPE

There is an increasing trend of the population engaging in veganism and adopting healthy diets in the European countries, hence boosting the sale of the remarkable Garbanzo Beans Market share. An increasing concern for the food products needs for the region requires healthier and organic products such as garbanzo beans. Also, Europe’s base of the food processing industry and food innovation further boost the market. This is so because the trend is sustained by the domestic production of these automobiles as well as imports, depending on consumer preferences that exist in the continent.

• ASIA

The Garbanzo Beans Market has a has a major reliance on Asia for their traditional cuisines like Indian and Middle Eastern countries. A progressing populous population and purchasing power parity push for the need to consume more food products that are better and more diverse in nutrition. In the same way, increasing health consciousness and changes in the preference of consumers towards plant-based protein-based foods also support the growth of the market. Another advantage of the garbanzo beans is their ability to fit into the processing industries throughout Asia to improve their market stand through increased food processing industries.

KEY INDUSTRY PLAYERS

"Market growth is driven by innovations and new products from leaders"

Market leaders have a strategic impact on the growth of the Garbanzo Beans Market through new innovations and new product developments. As these companies continue to invest in research and development, they bring new products that incorporate garbanzo beans in them, such as snacks and meat products. Marketing and associations also improve market coverage as it triggers demand and aids in the enlarging of the scope of the market.

LIST OF TOP GARBANZO BEANS COMPANIES

• AGT Food and Ingredients Inc (Canada)
• Agrifoods Australia (Australia)
• OLEGA (Argentina)
• Indraprasth foods (India)
• Prairie Pulse (Canada)

KEY INDUSTRY DEVELOPMENT

August 2023, food giant Cargill extended its chickpea protein portfolio and introduced new protein powders to strengthen plant-based food products’ health benefits. It is a progression that is in line with the business model of Cargill, where they are seeking to be innovative in the Garbanzo Beans Market to cater for the growing concern of people taking nutritious food products.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.