Garbanzo Flour Market REPORT OVERVIEW
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global garbanzo flour market size was USD 3466.9 million in the year 2022 and market is projected to touch 5424.47 Million by 2031, exhibiting a CAGR of 5.1% during the forecast period.
Garbanzo flour is also known as chickpeas. It is one of the tastiest and creamiest of beans. The beans are made from delicious bean which is rich flavor, sweet, and baked goods. The beans are loaded with protein and source of iron.
The market growth is attributed to the growing number population concern about high protein diet and increased demand for healthy snack is anticipated to accelerate market growth. The food has nutritional values such as high levels of complex carbohydrates, healthy balance of amino acids, relatively low levels of complex carbohydrates, and bioavailability of proteins is expected to fuel market progress. The garbanzo flour offers to cure several health problems such as cancer, diabetes, obesity, coronary heart disease. The flour is highly popular in home remedies and growing awareness about the benefits of flour is expected to surge market growth. Presence of several market players and increased investments by market players is expected to drive market growth. Further, rapid development in food and beverage sector is predicted to surge market progress in the forthcoming years. Growing production of chickpea and huge harvesting of chickpea is expected to drive market growth. On the contrary, high consumption of the product may harm health, which is estimated to harm market progress in the coming years. Also, shift in consumer preferences and low degree of security in raw material supply is anticipated to harm market growth in the coming years.
COVID-19 Impact: Lower Demand and Lack of Raw Materials due to Lockdown Restrictions to Limit Market Progress
The sudden spread of COVID-19 pandemic hamper several business operations. Closure of food & beverage sector and lack of raw materials. Also, shutting of manufacturing units and unavailability of labors reduced market progress.
LATEST TRENDS
"Several Health Benefits of the Product to Foster Market Growth "
The several health benefits of the product which is estimated to boost market growth. The product is gluten free and safe to consume, which is predicted to fuel market growth. Increased demand healthy food products among consumer and the food has nutritional values such as high levels of complex carbohydrates, healthy balance of amino acids, relatively low levels of complex carbohydrates, and bioavailability of proteins is expected to fuel market progress. The garbanzo flour offers to cure several health problems such as cancer, diabetes, obesity, coronary heart disease. The flour is highly popular in home remedies and growing awareness about the benefits of flour is expected to surge market growth. Presence of several market players and increased investments by market players is expected to drive market growth in the forthcoming years.
Garbanzo Flour Market SEGMENTATION
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- By Type
Based on type, the market is divided into sprouted bean flour and un sprouted garbanzo flour.
Sprouted bean flour is expected to be the top part of type segmentation.
- By Application
Based on the application, the market is divided into residential, commercial, and others.
Commercial is expected to be the top part of application segmentation.
DRIVING FACTORS
"Huge Demand from Bakery to Fuel Garbanzo Flour Adoption"
The increased demand for the product in bakery sector for making bakery products such as cakes, pastries, and others. The demand for the product is gaining popularity owing to for its gluten free and vegan properties. The food product can be consumed by everyone vegetarian, non-vegetarian, and vegan. Further, rapid development in food and beverage sector is predicted to surge market progress in the forthcoming years. Growing production of chickpea and huge harvesting of chickpea is expected to drive market growth. The product is also used in animal feed, beverages, extruded products, and confectionary and dairy products which is anticipated to fuel garbanzo flour market growth in the coming years.
"Keto-Friendly Nature and Growing Demand for Dietary Fiber to Boost Market Growth"
The increased need for keto-friendly diet among growing population is anticipated to drive market progress. Growing number of online channels and increased spending capacity is anticipated to drive market progress. Huge need for healthy food products and growing developments in food & beverage sector is anticipated to fuel market progress in the coming years.
RESTRAINING FACTORS
"High Consumption of the Product May Harm Health "
High consumption of the product may harm health, which is estimated to harm market progress in the coming years. Also, shift in consumer preferences and low degree of security in raw material supply is anticipated to harm market growth in the coming years.
Garbanzo Flour Market REGIONAL INSIGHTS
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"High Production and Consumption of Chickpea in Asia Pacific to Drive Market Share "
Asia Pacific is anticipated to account for largest garbanzo flour market share owing to high production and consumption of chickpea in the region. Growing awareness about the product among population is anticipated to drive market growth. Rise in wellness and health trend, which is estimated to fuel market growth. The garbanzo flour offers to cure several health problems such as cancer, diabetes, obesity, coronary heart disease. The flour is highly popular in home remedies and growing awareness about the benefits of flour is expected to surge market growth. Presence of several market players and increased investments by market players is expected to drive market growth. Further, rapid development in food and beverage sector is predicted to surge market progress in the forthcoming years. Growing production of chickpea and huge harvesting of chickpea is expected to drive market growth.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Bob's Red Mill
- Namaste Foods
- DEEP
- To Your Health Sprouted Flour Co.
- Gourmet Imports
- Authentic Foods
- LIV Organic
- Earthly Gourmet
- Cado's Kitchen
- Barry Farm
- Nature
- Fatina
- Molino Zanone
- JEB FOODS
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 3466.9 Million in 2022 |
Market Size Value By |
US$ 5424.47 Million by 2031 |
Growth Rate |
CAGR of 5.1% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is garbanzo flour market expected to touch by 2031?
The global garbanzo flour market size is expected to reach USD 5424.47 Million by 2031.
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What CAGR is garbanzo flour market expected to exhibit by 2031?
The garbanzo flour market is expected to exhibit a CAGR of 5.1% by 2031.
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Which are the driving factors of the garbanzo flour market?
The driving factors of the garbanzo flour market are huge demand from bakery and keto-friendly nature and growing demand for dietary fiber.
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Which are the key player or most dominating companies functioning in the garbanzo flour market?
Bobs Red Mill, Namaste Foods, DEEP, To Your Health Sprouted Flour Co., Gourmet Imports, Authentic Foods, LIV Organic, Earthly Gourmet, Cados Kitchen, Barry Farm, Nature, Fatina, Molino Zanone, and JEB FOODS are the key player or most dominating companies functioning in the garbanzo flour market.
