Global Cowpeas Market Overview:
Cowpeas are the annual herbaceous legume from the genus Vigna. It is an important crop in the semiarid regions across Africa and Asia. It requires very few inputs, as the plant's root nodules are able to fix atmospheric nitrogen, making it a valuable crop for resource-poor farmers and well-suited to intercropping with other crops. The whole plant is used as forage for animals, with its use as cattle feed likely responsible for its name. The Cowpeas were domesticated in Africa and are one of the oldest crops to be farmed.
As per latest study released by AMA Research, the Global Cowpeas market is expected to see growth rate of 5.5%Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Usage of Cowpeas in Vegetable Systems and Sometimes in Tree Crops
Market Growth Drivers:
High nutritional content of cowpeas is fuelling the market growth and Growing popularity of cowpeas
Challenges:
Limited Number of Producers Available
Restraints:
Fluctuations in Weather Conditions
Opportunities:
Increasing Disposable Income and Growing Online Sales Channel
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Natureland Organics (India), Organic Tattva (India), Elworld (India), BRS Tumucumaque (Brazil), BRS Xiquexique (Brazil), BRS Aracê (Brazil) and Ancient Wisdom (United Kingdom). Analyst at AMA Research see Brazil Vendors to retain maximum share of Global Cowpeas market by 2030. Considering Market by Nature, the sub-segment i.e. Organic will boost the Cowpeas market. Considering Market by Form, the sub-segment i.e. Whole will boost the Cowpeas market. Considering Market by Distribution channel, the sub-segment i.e. Online will boost the Cowpeas market.
Latest Market Insights:
In February 2023, agricultural giants Bayer and Corteva announced a merger of their respective seed businesses, creating the world's largest seed company. This merger could potentially impact the cowpea seed market, as both companies have a presence in the seed industry.
In March 2023, Olam International, a Singapore-based agri-business company, announced the launch of a new cowpea variety, "Olam 1," which is high-yielding and resistant to pests and diseases. This new variety is expected to contribute to increased cowpea production in Africa.
What Can be Explored with the Cowpeas Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Cowpeas Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Cowpeas
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Cowpeas market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Cowpeas market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Producers, Distributors, Government associations, Research organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.