Global Fava Bean Market is valued approximately at USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4% over the forecast period 2021-2027. According to the rise in trend of healthy eating habits and increase in trend of vegetarianism, the global fava bean market is witnessing substantial growth and is expected to maintain this trend in the future. Fava beans, commonly known as wide beans, are a springtime crop that belongs to the Fabaceae family of flowering plants, which includes beans and peas. The origin of the fava bean is unknown, although it was once a staple meal for ancient Romans, Greeks, and eastern Mediterranean immigrants. One of the major drivers of the global fava bean market has been the high nutritional advantages as well as increased accessibility and availability of fava beans through organized retailing. Healthy eating trends all across the world promote the consumption of nutrient-dense foods. As a result, demand for fava beans is rising among health-conscious consumers, propelling the worldwide fava bean market ahead. The rapidly growing vegan population on a worldwide scale, owing to rising concerns about cardiovascular diseases linked to red meat, is likely to be a positive driver for the market. For instance, as per Statista, the number of vegans in the United Kingdom tripled over the research design. The number of vegans was projected to reach 150 thousand in 2014, but by 2019 it had risen to 600 thousand. Vegans composed 1.16 percent of the population of the United Kingdom in that year. Vegans make up a huge percentage of the population, according to other estimates. However, densely crowded market with constant products, may impede market growth over the forecast period of 2021-2027.
Asia Pacific region is dominating the market due to growing consumption of toasters seeds as a low-fat snack in India and neighboring countries. Furthermore, North America is projected to the fastest growing region owing to increase in importance of plant-based protein products in Canada and U.S. In addition, the high obesity rate in the U.S, is also expected to support the growth of Fava beans market.
Major market player included in this report are:
ADM Benson Quinn (ADM)
Victoria Foods Pvt. Ltd.
Solen Food Industry and Trade Inc.
AGT Foods and Ingredients
Kangle County Jinzhong Agricultural Product Industry Development
Simpson Seeds Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Distribution type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Fava Bean Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers