The global pigeon pea market reached a volume of 13.3 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 23.6 Million Tons by 2027, exhibiting a CAGR of 9.51% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Pigeon pea is a tropical plant of the pea family, which is commonly grown as a food crop. It has a deep tap-root structure that enables it to collect water and other nutrients from the secondary soil profile for thriving during dry seasons. It is a rich source of thiamin, riboflavin, niacin, vitamin B-6, folate, vitamin A, calcium, iron, magnesium, phosphorous, and potassium. It helps prevent and cure ailments like bronchitis, coughs, pneumonia, respiratory infections, pain, menstrual disorders, sores, wounds, abdominal tumors, diabetes, acidity, stomach pain, poisoning, piles, and swelling of internal organs. Besides this, as it is an ideal supplement for a protein-deficient diet, the consumption of pigeon pea is rising across the globe.
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Pigeon Pea Market Trends:
At present, pigeon pea finds extensive applications in animal feed, fuel wood, rearing lac insects, green manuring, soil conservation, and windbreaks. Besides this, it is employed in the food and beverage industry for preparing different soups, stews, curries, sauces, and rice dishes on account of its numerous health benefits. These health benefits include boosting energy, building immunity, preventing anaemia, treating inflammation, maintaining blood pressure, and strengthening the cardiovascular system and digestive systems. Moreover, pigeon pea is considered one of the most pivotal pulse crops for food and feed security in dry places due to its high drought resilience. Apart from this, the perennial nature of pigeon pea enables farmers to take multiple harvests and use the surplus for trade in both local and international markets. This, coupled with the rapidly growing population, low prices, expanding imports, rising per capita income and the easy availability of high storage facilities worldwide, is projected to create a positive outlook for the market in the upcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global pigeon pea market report, along with forecasts for growth at the global and regional levels from 2022-2027.
Breakup by Region:
India currently holds the largest market share on account of the increasing production of pigeon pea in the country. This, coupled with the rising usage of its leaves in the treatment of diarrhea and dysentery and numerous initiatives undertaken by the Government of India for the welfare of farmers, is positively influencing the market.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.