Cowpeas Market

 Cowpeas Market Size (2024 to 2029)

Cowpeas Market is expected to be at USD 7.6 billion in 2024 to USD 9.43 billion by 2029 with a CAGR of 5.50% in a given forecast period.

Cowpea is an annual herbaceous legume of the genus Vigna. Due to its tolerance to sandy soils and low rainfall, it is an important crop in the semi-arid regions of Africa and Asia. It requires very few inputs, as the root nodules of the plant can fix atmospheric nitrogen, making it a valuable crop for resource-poor farmers and well-suited for growing in combination with other crops. The whole plant is used as fodder for animals, and its use as livestock feed is probably responsible for its name. Four subspecies of cowpea are recognized, three of which are cultivated. Within the species, there is a high level of morphological diversity with great variations in the size, shape, and structure of the plants. Cowpea can be erect, semi-upright (trailing), or climbing. The seeds of these crops are very rich in protein, although the leaves and pods can be consumed directly. Cowpea was domesticated in Africa and is one of the oldest crops grown. The seeds are usually cooked and made into stews and curries, or ground into flour or dough.

MARKET DRIVERS AND RESTRAINTS

Cowpea has gained immense popularity around the world in recent years due to a variety of factors including the growing consumer demand for plant protein, the significant increase in the number of vegans and herbivores worldwide, and growing consumer awareness of the benefits and properties of natural legumes. Cowpea production continues to grow in various regions of the world, due to nutraceutical and nutritional properties and favorable social and economic production parameters, a trend that is expected to support the growth of the global cowpea market during the outlook period. In recent years, cowpea has been increasingly included in food security programs in various regions of the world. The demand for cowpea is on the rise, as it is rich in nutraceuticals such as antioxidants, polyphenols, polyunsaturated fatty acids, and dietary fibre. While cowpea has high nutritional content and is relatively safe, its stability in production, productivity, and high tolerance to environmental stress, including drought, is another important factor likely to drive the growth of the worldwide cowpea market during the evaluation period. Supporting government initiatives, growing consumer affinity for herbal products, the influx of a number of brands that are primarily focused on including plant-based proteins in their portfolio of products and strategies. Furthermore, as demand for sustainable farming systems continues to grow around the world, especially in the sub-humid tropics, cowpea production has seen tremendous growth as it meets the needs of modern agriculture. In addition, cowpea also plays an imperative role in improving soil fertility thanks to its exceptional biological nitrogen fixation (BNF). Therefore, cowpea continues to attract more farmers and grain traders.

REPORT COVERAGE: 

SEGMENTAL ANALYSIS

Global Cowpeas Market Analysis By Nature 

• Organic
• Conventional

Global Cowpeas Market Analysis By form

• Split
• Whole
• Flour

The Application for the market can be divided into direct sales and Household/Retail. The Direct sales segment can be divided into Pharmaceutical Industry, Animal Feed Industry, Nutraceutical Industry, Cosmetic Industry, and Food & Beverage Industry. The Household/Retail is segmented as Food & Drink Specialty Stores, Departmental Stores, Wholesale Stores, Mass Grocery Retailers, Convenience Stores, Hypermarkets/Supermarkets, Store-based Retail, and Other Retail Formats.

REGIONAL ANALYSIS

Cowpea consumption is relatively high on the African continent compared to other areas of the world. Over the past few decades, cowpea has become a lucrative and income-generating crop for cereal farmers and traders around the world, a trend that is foreseen to continue throughout the conjecture period. According to data from the Food and Agriculture Organization of the United Nations (FAO), cowpea production grows annually in several important regions of the world. Research and development activities continue to explore the stability and adaptability of various cowpea genotypes, including hybrids, lines, and cultivars under various environmental conditions.

KEY PLAYERS IN COWPEAS MARKET 

key players in cowpeas market are Lobia, Halal, Elworld, Organic Tattva, Natureland Organics, cultivators.

RECENT HAPPENINGS IN THE MARKET

In August 2019, Nigeria approved for the first time to cultivate genetically modified (GM) BT cowpea, as per the International Service for the Acquisition of Agrobiotechnology Applications. Pests, especially the ear borer (Maruca vitrata), have hampered the production of cowpeas, the West African country's most important legume. It must import about 500,000 tonnes per year to meet demand, according to a statement from the Cornell University Alliance for Science.

DETAILED SEGMENTATION OF GLOBAL COWPEAS MARKET INCLUDED IN THIS REPORT    

This research report on the global Cowpeas Market has been segmented and sub-segmented based on Nature, Form, & region.      

By Nature 

• Organic

• Conventional

By form

• Split

• Whole

• Flour

By Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle-East & Africa