Fava Beans Market To Show Eye-Catching Growth With A CAGR Of 4.3% By 2032

As per Zion Market Research, the global fava beans market was capitalized at USD 54.38 Million in 2023. The market is forecast to reach USD 79.44 Million by 2032, growing at a compound annual growth rate (CAGR) of 4.3% during the forecast period 2024-2032. The drive towards sustaining a fit lifestyle by way of healthy consumption trend paired with the rising awareness about the advantages related with fava beans has boosted the global market growth. These beans are placed as a rich origin of protein that has led to elevated demand from the fitness-mindful users.

Some of the major players comprise BI Nutraceuticals, GrainCorp Limited, Dunns (Long Sutton) Limited, Nuttee Bean Co., Sun Impex B.V., and Prairie Fava. The major exporting nations comprise China, Australia, France, Ethiopia, Germany, Egypt, the UK, and Saudi Arabia.

Rising Popularity Of Vegetarianism To Drive The Growth Of The Global Fava Beans Market

Human nutrition application ruled the global market earlier adding up for over three-quarter of the global income. The increasing popularity of vegetarianism paired with the trend of healthy consumption is boosting requirement for broad beans as these are a rich origin of nutrients. In the years to come, rising addition of these beans in the normal meals is anticipated to boost requirement as usage pattern carries on shifting plant-based proteins from processed meat.

Fava bean flour is also employed in the manufacturing of pasta and bread. Falafel, Medamis, Nabet, and Bissara soup are amongst some of the well-liked dishes created from Fava beans. Usage of fava bean in animal feed was restricted owing to the existence of antinutritional factors. On the other hand, the enhancement in animal feed processing and plant breeding tech has lowered its presence. Fava beans are majorly employed in the diets for pigs and poultry. However, the amount in animal feed carries on differing on the basis of animal age and species.

Online Channel Is Expected To Be The Fastest Growing Segment Of The Global Fava Beans Market

The online channel is projected to be the quickest developing section at a CAGR of over 3.5% in the forecast period. Over the last couple of years, the online channel has turned out to be significantly well-liked amongst users who shop on-the-go and prefer convenience. A wide series of fava beans comprising unpeeled, whole, and cooked are sold via online channels such as Amazon. The trend is attaining attention in Asia Pacific, where fava beans are eaten as snacks.

North America Projected To Lead The Global Fava Beans Market In The Forecast Period

North America is expected to develop at a CAGR of over 2.5% in the years to come. The increasing significance of plant-based protein goods in Canada and the U.S. owing to the rising concerns over lactose intolerances and glutamic disorders is projected to have a positive effect on broad beans usage. In addition to this, the high rate of obesity in the U.S. is projected to support the requirement of these beans as options to low-fat protein.

Browse the full “Global Fava Beans Market - By Distribution Channel (Offline and Online), By Application (Animal Feed and Human Nutrition), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 – 2032.” Report at https://www.zionmarketresearch.com/report/fava-beans-market

The global fava beans market is segmented as follows:

By Application

• Human Nutrition
• Animal Feed

By Distribution Channel

• Online
• Offline

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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