Chickpeas Prices

Chickpeas Prices December 2023

In 2023, the price of chickpeas in the United States reached 0.43 USD/lb by December. Similarly, in India, the chickpeas prices concluded at 0.78 USD/lb during the same quarter. 

Chickpeas Price Trend, Market Analysis, and News

IMARC's latest publication, “Chickpeas Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the chickpeas market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of chickpeas at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed chickpeas price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting chickpeas pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Chickpeas Market Analysis

The global chickpeas market size reached 18.49 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 24.76 Million Tons, at a projected CAGR of 3.30% during 2023-2032.

• The market is primarily fueled by the expanding consumption of chickpeas due to their health benefits for digestion, heart health, and weight management. Their rich fiber content helps stabilize blood sugar levels and promote a sense of fullness, spurring their demand among health-conscious consumers.
• Moreover, chickpeas are abundant in protein, fiber, vitamins, and essential minerals such as iron, magnesium, and folate. These nutritional qualities make them a cornerstone in numerous diets, particularly among vegetarians and vegans, thereby aiding in market expansion.
• Besides this, the product’s versatility also extends its integration across a wide range of dishes, from soups and stews to salads and dips such as hummus, making them a popular choice in global cuisines. This culinary adaptability significantly bolsters their demand and appeal in the market.
• Additionally, chickpeas are an environmentally sustainable crop due to their lower water requirements and ability to enrich the soil by fixing nitrogen, which improves soil fertility without the need for synthetic fertilizers. This makes chickpeas an appealing choice for eco-conscious consumers and farmers who prioritize sustainable agricultural practices, as they strengthen environmental conservation while providing a nutritious food source.
• Furthermore, with the rising adoption of plant-based diets due to health, environmental, and ethical reasons, chickpeas have gained popularity as an excellent source of plant-based protein. Their high nutritional value and versatility in various dishes make them a preferred choice for those seeking nutritious and sustainable food options, which is further impelling the market demand.
• Concurrently, the food industry is continuously innovating with new chickpea-based products like snacks, pasta, and dairy alternatives, to meet modern consumer preferences for healthy and convenient options. These innovations cater to the growing demand for nutritious, plant-based foods, thereby enhancing the appeal of chickpeas and supporting the market growth.
• Apart from this, international organizations and non-governmental organizations (NGOs) often promote chickpea cultivation in food security initiatives, especially in regions prone to food shortages. Chickpeas' resilience to drought and poor soil conditions makes them a strategic crop for ensuring food availability in vulnerable communities, presenting lucrative opportunities for the market growth.

Chickpeas News

The report covers the latest developments, updates, and trends impacting the price of chickpeas, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the chickpeas price trend.

Latest developments in the chickpeas industry:

• September 2023: Symrise introduced a new range of chickpea and aquafaba ingredients under its Diana food™ brand, catering to the rising demand for plant-based foods. These ingredients, known for their high protein and fiber content, offer nutritional benefits and enhance texture in various applications like falafels and hummus.
• January 2023: The Odisha government is promoting the cultivation of chickpea and black gram crops in rice fallows to increase farmers' income and improve soil health. The state aims to cultivate these pulses in 1 lakh hectares of rice fallows, with the help of the Odisha University of Agriculture and Technology (OUAT) and the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT). Chickpea is being grown in 5,000 hectares in Koraput district as part of this initiative.

Product Description

Chickpeas, also known as garbanzo beans, are legumes prized for their nutty flavor and firm texture. They are commonly used in salads, stews, and as the base for hummus. These beans are rich in protein, fiber, vitamins, and minerals like folate and iron, making them a nutritious addition to vegetarian and Mediterranean diets. They come in various forms, including canned, dried, and roasted, offering culinary flexibility.

In addition to their culinary uses, chickpeas are also utilized in the food processing industry for making chickpea flour, which is used in baking and as a gluten-free alternative to wheat flour. One significant use of chickpeas is in the production of hummus, a popular dip or spread made by blending chickpeas with tahini (sesame seed paste), olive oil, lemon juice, garlic, and spices.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the chickpeas price trend. 

Global Chickpeas Price

The report offers a holistic view of the global chickpeas pricing trends in the form of chickpeas price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of chickpeas, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed chickpeas demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Chickpeas Price

European chickpeas prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for chickpeas can also be provided for an extensive list of European countries.

North America Chickpeas Price

The analysis of chickpeas prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific chickpeas historical data within the United States and Canada can also be provided.

Middle East and Africa Chickpeas Price

The report explores the chickpeas pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Chickpeas Price

The chickpeas pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This chickpeas price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Chickpeas Price

The analysis of chickpeas prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of chickpeas pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting chickpeas price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The chickpeas price charts ensure our clients remain at the forefront of the industry.