The global fava beans production expanded at a CAGR of around 1.00% in the historical period of 2018-2023. The fava beans market is further estimated to witness a steady growth in the forecast period of 2024-2032.
Base Year
Historical Year
Forecast Year
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Fava Beans, also known as broad beans or faba beans, are a member of the pea family and are one of the oldest known cultivated plants. Fava beans contain a high level of protein, usually between 20-40%, depending on the variety and the environmental conditions in which they are grown. It is a good source of iron, magnesium, potassium, zinc, copper, selenium, and many vitamins as well. The high nutritional value of fava beans is a major driver of market growth. Hence, rising adoption of healthier eating habits, growing middle class population, and increasing disposable incomes are fuelling demand for fava beans.
Moreover, improved availability of fava beans through organised retail channels like supermarkets, hypermarkets, and online stores is also contributing to the fava beans market expansion. Additionally, the use of fava beans in various food applications, such as ready meals, and the development of new fava bean varieties optimised for different climate and growing regions are expected to further drive the market in the coming years. Moreover, the rising trend of vegetarianism is also anticipated to bolster the consumption of fava beans in the coming years.
Growing demand for plant-based proteins, innovation in product development, and advancements in agricultural practices have positively impacted the fava beans market outlook
Protein Industries Canada, along with Prairie Fava, DL Seeds, and Three Farmers, are collaborating on a project to enhance the fava bean supply chain in Canada. The project will create new job opportunities and expand product offerings, contributing to Canada's competitiveness in the global plant protein sector.
Researchers have discovered an ideal fava bean blend that offers a tasty and fibrous plant-based meat alternative by using "wet fractionation" method. This development can make fava beans a competitive alternative to soy in the plant-based protein market.
THIS, a UK plant-based meat brand, is launching the first nationally distributed vegan chicken thighs in the UK, available at Tesco. Product is made from a blend of soy and fava bean protein and can be used for making burgers, curries, and stews. This launch promotes sustainable food choices in the UK.
Companies like The Good Bean have expanded their distribution network to include major retail chains and e-commerce platforms, making fava bean snacks more accessible to a wider consumer base. The convenience and accessibility offered by these distribution channels are making fava beans more readily available to consumers, contributing to the fava beans market growth.
Furthermore, research institutions like the International Center for Agricultural Research in the Dry Areas (ICARDA) are working on developing drought-tolerant fava bean varieties to enhance productivity in water-stressed regions. These advancements are leading to increased fava bean production and improved quality. Additionally, the increased demand for fava beans in the livestock industry, as a protein and starch rich animal feed solution is also expected to supplement the market growth in the forecast period.
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The EMR’s report titled “Fava Beans Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Application
Market Breakup by Distribution Channel
Market Breakup by Region
Fava beans are being increasingly consumed due to high demand for plant-based protein sources
In the food applications segment, fava beans are utilised for human consumption in various forms, including direct consumption and incorporation into food products. They are used in dishes like soups, stews, salads, and as a meat substitute in vegetarian and vegan recipes, catering to the increasing demand for plant-based protein sources and nutritious food options globally.
As per fava beans market analysis, in the feed applications segment, fava beans serve as a protein-rich feed ingredient for livestock, including poultry, swine, and cattle. The feed applications segment plays a crucial role in supporting the livestock industry's need for high-quality and sustainable feed sources.
Easy availability of fava beans across supermarkets and hypermarkets to supplement the market growth
The market is being driven by the increasing availability of fava beans across supermarkets and hypermarkets to meet the growing consumer demand for food products packed with nutrients. In addition, the rapid expansion of e-commerce channels is also expected to prove beneficial for the growth of the fava beans market. For instance, through online stores, such as Amazon Pantry, consumers can purchase fresh, canned, and packaged fava beans . Convenience stores, such as 7-Eleven, offer quick access to fava beans and may stock canned fava beans or snacks for on-the-go consumers. Speciality stores, like gourmet food stores, offers organic dried fava beans or fava bean flour.
Market players are focused on product innovation, market expansion, technological advancements, collaborative research, and the nutritional value and cost-effectiveness of fava beans
BroadGrain Commodities Inc., founded in 2003 and headquartered in Ontario, Canada, is a prominent producer of grains, cereals, oilseeds, pulses, speciality crops, and related by-products. It also offers shipping, originating, handling, processing, storing, and marketing of agricultural products.
AGT Food and Ingredients, established in 2001 and based in Saskatchewan, Canada, is a leading Canadian process...
Simpson Seeds Inc., founded in 1979 and headquartered in Saskatchewan, Canada, is a well-established company s...
Archer Daniels Midland Company, with a founding year of 1902 and headquarters in Illinois, United States, is a...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
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Asia Pacific leads the market due to the increasing availability of fava beans across various distribution channels in the region
The Asia Pacific region accounts for a significant fava beans market share, with China being the leading producer. The demand for fava beans in the region can be associated with the changing consumer lifestyles, fuelled by the rising demand for organic and health enhancing food. Another factor supporting the market growth is the presence of a large vegan and vegetarian population.
Meanwhile, the North American region is expected to witness considerable growth in the fava beans market during the forecast period, driven by the increasing consumption of fava beans for efficient weight management. The rising concerns of obesity in the region are supporting the demand for fava beans as a nutritious food option.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global fava beans market witnessed a growth at a CAGR of 1.00% in the historical period of 2018-2023.
The major drivers of the market include rising adoption of healthier eating habits, rising disposable incomes, growing middle class population, and the rising consumption of legumes.
Fava beans are the seeds of the broad-bean plant, also known as Vicia faba, and are commonly used as vegetables in various culinary dishes. They are rich in protein, fibre, and nutrients like folate, manganese, and iron.
Key trends aiding fava beans market expansion include the growing awareness about the high nutritional value of fava beans, the expansion of e-commerce channels, and the development of fava bean-based snacks.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Food and feed are the leading applications of the product.
Supermarkets and hypermarkets, convenience stores, speciality stores, and online retailers, among others, are the major distribution channels in the market.
Key players in the market are BroadGrain Commodities, AGT Food and Ingredients, Simpson Seeds Inc., and Archer Daniels Midland Company, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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