Cowpeas Market

Global Cowpeas Market Size (2024 to 2032)

The size of the global cowpeas market is expected to be worth USD 7.60 billion in 2024 and grow at a CAGR of 5.50% from 2024 to 2032 to achieve USD 11.66 billion by 2032.

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.

CURRENT SCENARIO OF THE GLOBAL COWPEAS MARKET

Cowpeas is a pea family plant, an annual herbaceous legume from the genus Vigna. Cowpeas provide various health benefits as they are rich in proteins, fibers, vitamins like A, C, and E, and minerals like copper, iron, manganese, magnesium, sodium, and others. The cowpeas have antibiotic properties, antioxidants, and anticancer properties, and they also help manage blood glucose levels. It is highly known for its hypocholesterolemic effect, which reduces the bad cholesterol by increasing the good cholesterol. The global cowpeas market has had significant growth in the past years and is anticipated to have prominent growth in the coming years. Due to their health-beneficial properties, the increased demand for cowpeas in the food and beverages and nutraceutical industries is majorly contributing to the market revenue growth. Cowpeas have gained traction worldwide over the past few years due to the increasing demand for plant-based proteins, a significant rise in the vegan population, and growing consumer awareness regarding the benefits of nutritional food, all positively impacting the expansion of the market growth opportunities.

MARKET DRIVERS

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, cowpeas have been increasingly included in food security programs in various regions of the world. The demand for cowpeas is on the rise, as it is rich in nutraceuticals such as antioxidants, polyphenols, polyunsaturated fatty acids, and dietary fiber. While cowpea has high nutritional content and is relatively safe, its stability in production, productivity, and high tolerance to environmental stress, including drought, is other 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, and 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.

MARKET RESTRAINTS

The primary factor restraining the global cowpeas market is the frequent changes in the climatic conditions during the cultivation of the crops.

The vulnerability to climate changes like floods, temperature changes, and rainfall is estimated to impact the cowpea market negatively. Another major hurdle for market expansion is the prevalence of pests and diseases during production, which affects revenue. The need for consumer awareness regarding the nutritional value of cowpeas across underdeveloped and developing regions is estimated to hamper the market expansion. The presence of alternative protein sources from other foods, such as soy and beans, will hinder the adoption of cowpeas among consumers, leading to restricted market share growth. The availability of limited producers and access to the global markets are expected to impact market growth opportunities negatively. Even though cowpeas are considered "poor man's meat" as they are rich in protein content, they also contain some antinutritional elements like phytic acid and protease inhibitors, which limit the crop's nutritional value. This may limit its adoption among consumers, impeding market expansion.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Cowpeas Market Analysis By Nature

The organic segment dominated the global cowpea market revenue due to high consumer adoption. The organically grown cowpeas are gluten-free and developed without chemical fertilizers or pesticides, enhancing consumer adoption, and leading to segment growth. The increasing consumer awareness regarding the adverse health effects of using pesticides and chemical fertilizers and the growing demand for organically grown products fuels the segment growth, leading to market expansion.

The conventional segment is expected to grow prominently during the forecast period. As organic products are expensive and difficult to cultivate compared to conventional products, most people prefer affordable products for the low—and mid-income population, accelerating the segment growth rate.

Global Cowpeas Market Analysis By Form

The whole-form segment dominates the global cowpeas market revenue as they are highly consumed as vegetables in Asian countries. The increased benefits of cowpeas and the rising awareness among people regarding their protein and nutritional value are driving the segment.

The split form is also acquiring a significant share of market revenue and is estimated to have a steady growth rate in the coming years.

The flour form has been gaining traction recently as it is rich in high protein; it was advised to consume regularly for health benefits. Cowpeas positively impact the lipid profile by eliminating the bad cholesterol and increasing good cholesterol, which augments the market growth.

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 THE GLOBAL COWPEAS MARKET 

key players in the global cowpeas market include Lobia, Halal, Elworld, Organic Tattva, Natureland Organics, and cultivators.

RECENT HAPPENINGS IN THE MARKET

• In March 2023, Olam International, a Singapore-based agribusiness company, announced the launch of a new cowpea variety, "Olam 1." This new variety provides a high yield and is highly pest-resistant to diseases. It is estimated to enhance cowpea production in Africa.
• In February 2023, Bayer and Corteva announced a merger of their respective seed businesses, creating the world's largest seed company. This merger is expected to positively impact the cowpea seed market, as both companies have a presence in the seed industry.
• In October 2022, Roquette, a global leader in plant-based ingredients and pioneer of plant proteins, launched a new line of organic pea ingredients, organic pea starch, and organic pea protein in North American and European markets to meet consumer demand.
• In September 2022, Pea growers will have two options in the coming year's growing season with the commercial release of PBA Noosa and PBA Taylor- Agriculture Victoria's latest high-yielding pea varieties. PBA Taylor is the best.
• In March 2022, Birsa Agriculture University developed a new variety, Birsa Matar-1, which is adaptable to the climatic conditions of Jharkhand, India. This is also estimated to be resistant to pests and diseases.

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