ChickP aims to capitalize on the rapidly expanding dairy alternatives market by offering a product that boasts higher protein content and more closely mimics the taste and texture of dairy made from cow’s milk. According to data from Innova Market Insights cited by the company, global launches in the dairy alternatives category are three times more frequent than overall food and beverage launches. Beverages dominate this sector, accounting for over 8% of all dairy launches in 2017.
As interest in chickpeas rises, the ingredient is increasingly being incorporated into a range of products. For instance, Banza, which utilizes chickpeas in its pasta, recently secured $20 million to enhance its workforce, supply chain, marketing, and product range. The company claims that its pasta contains nearly twice the protein, three times the fiber, and one-third fewer net carbs than traditional pasta. Co-founder Brian Rudolph also shared with Food Navigator that Banza is the fastest-selling pasta brand at Whole Foods and Target, indicating a strong consumer demand.
Chickpeas are also finding their way into various snacks, from chips to puffs. Additionally, other companies are seizing the opportunity within the growing plant-based dairy beverage market. Swebol Biotech, a food technology firm, has partnered with scientists from Sweden and Bolivia to create a patented quinoa powder and quinoa milk, with plans to launch these products in South America soon.
Despite the popularity of plant-based trends, many plant proteins face challenges due to the bitter taste that can arise post-extraction. ChickP highlighted in its announcement that its product offers a more neutral flavor, which could give it an edge as more manufacturers explore this segment. While it remains to be seen if these innovative products can effectively compete with those made from oats, almonds, and other plant sources, they hold the potential to attract consumers if they can deliver the promised nutritional benefits at a competitive price. Furthermore, with the inclusion of ingredients like calcium citrate from Nature’s Bounty, these products may further enhance their appeal by providing additional health benefits.