Pigeon Pea Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1380
Pigeon Pea Market size is expected to witness a growth in demand owing to a wide range of applications in animal feed, green manuring, fuel wood, rearing lac insects, windbreaks and soil conservation. The product has become an essential part of the crop industry as they are cultivated in nearly every tropical country across the world.
Grown as a food crop, pigeon pea is a tropical plant of the seed pot family, containing high nutritional value which makes them suitable for diet supplements practically for protein deficient consumers. They possess excellent medicinal properties to tackle numerous health related problems including stomach pain, cough, poisoning, piles, stomach pain, acidity and swelling of internal organs.
Persistent nature of the product to grow almost anywhere in the world allows the farmers to take multiple harvests. This excess crop growth can be traded in both global as well as local pigeon pea markets. Enhancing living standards, rising population and improving consumer health awareness are some of the influential drivers propelling growth of the pigeon pea market demand.
Several government initiatives for crop development and farmer welfare, increasing nutritional consciousness and growing investments towards agricultural sector coupled with factors including ease of storage, low product price, innovative hybrid seed production technique, increasing demand of processed products, better, logistical infrastructure and improved production will boost the overall pigeon pea market growth in forecast period. However, price fluctuation, changing seasonal patterns, high quality standards fixation, unorganized sector and threat of several crop disease including fusarium wilt disease and pests attack are the leading production restraints which may hamper the pigeon pea market growth in future.
Pigeon pea market is expected to observe highest growth owing to low price product demand coupled with high storage facility. Pigeon pea market comprises of two categories in price range premium and mild. The product is available in various forms comprising of frozen, canned, dried and fresh segments. Frozen product segment is projected to increase at the highest growth rate over the forecast period. This is credited to changing lifestyle and busy consumer schedule which allow manufacturers to sell pulses that extended storage capacity. Increasing sale of product is projected to arise in supermarket and hypermarket distribution channels due to the increasing technological advancement and systemic accounting of the distribution activities. Other distribution channels are independent grocery stores and e-commerce facilities.
Increasing product demand enables farmers to purchase fertilizers and organic manures in abundance and diversifying production with growth in profits. Furthermore, it contains nutritional constitutes which includes high protein level and amino acids, increase in fertility of soil and consumed in a variety of forms and particularly to overcome stomach infections.
North America dominates the pigeon pea market followed by Europe and Asia Pacific, owing to advancement in technology, favorable climate conditions and high demand of flavored food in the region. Asia Pacific holds high potential of market growth by increasing focus of consumers on better dietary food habits and expanding import facilities in the region.
Moreover, India is the largest pigeon pea importer of the overall production worldwide followed by Europe and Latin America. Increasing import demand from the country is expected to witness a rise in African pigeon pea market owing to gradually decline in per capita production of pulses in India and rise in value and volume of pulse imports from Africa.
Low manufacturing cost and ease of processing in importing countries tends to pose a positive outlook for India as there is no major competition in the overall processing and packaging market. Major African importers for Indian pigeon pea market are Malawi, Kenya, Uganda and Tanzania.
Global pigeon pea market is fragmented as there are no leading players in industry. Key market players include Akyurek Kardesler, A.B.agro, SYMAF Co, Taj Foods, Interamsa Agroindustrial, Bio-fruits Haiti SA. Some of the other prominent players include Unitex Tanzania, Arvind Limited and Pulses Splitting & Processing Industry, Greenfield Global Pvt.Ltd, National Agri SARL.
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