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Global Fava Beans Market: By Application: Food, Feed, Others; By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retailers, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Fava Beans Market Outlook
The global fava beans production expanded at a CAGR of around 1% in the historical period of 2018-2022. The fava beans market is further estimated to witness a steady growth in the forecast period of 2023-2028.
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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 market growth. For instance, through online stores, such as Amazon Pantry, consumers can purchase fresh, canned, and packaged fava beans. Also, the development of fava bean-based snacks is likely to attract more health-conscious consumers, thus, aiding the market.
Growing Demand for Fava Beans in the Asia Pacific to Support the Overall Market Growth
The Asia Pacific region accounts for a significant share of the global market for fava beans, with China being the leading producer, accounting for 36.7% of the global production in 2020. 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 market in North America is estimated to witness a considerable growth during the forecast period, owing to the increased consumption of fava beans to aid in efficient weight management. This is being supported by the rising concerns of obesity in the region.
Market Segmentation
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.
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By application, the market is divided into:
- Food
- Feed
- Others
On the basis of distribution channel, the market can be categorised into:
- Supermarkets and Hypermarkets
- Convenience Stores
- Speciality Stores
- Online Retailers
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Consumer Focus on the Adoption of a Healthy Lifestyle to Augment the Market Growth of Fava Beans
The market is being driven by the increasing consumption of fava beans owing to the rising interest in the adoption of a healthy lifestyle and nutritious diet. Fava beans are a good source of protein, fibre, and carbohydrates. In terms of mineral content, fava beans are rich in calcium, iron, and magnesium, among others. Fava beans are increasingly utilised in various recipes across Middle Eastern and Asian cuisines, which are witnessing an immense popularity worldwide. In addition, the rising trend of vegetarianism is also anticipated to bolster the consumption of fava beans in the coming years. Furthermore, 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.
Key Players in the Global Fava Beans Market
The report gives a detailed analysis of the following key players in the global fava beans market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- BroadGrain Commodities Inc.
- AGT Food and Ingredients
- Simpson Seeds Inc.
- Archer Daniels Midland Company
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Distribution Channel, Region |
| Breakup by Application | Food, Feed, Others |
| Breakup by Distribution Channel | Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Retailers, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | BroadGrain Commodities Inc., AGT Food and Ingredients, Simpson Seeds Inc., Archer Daniels Midland Company, Others |
| 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Fava Beans Market Analysis
8.1 Key Industry Highlights
8.2 Global Fava Beans Historical Market (2018-2022)
8.3 Global Fava Beans Market Forecast (2023-2028)
8.4 Global Fava Beans Market by Application
8.4.1 Food
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Feed
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Others
8.5 Global Fava Beans Market by Distribution Channel
8.5.1 Supermarkets and Hypermarkets
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Convenience Stores
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Specialty Stores
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Online Retailers
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Fava Beans Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Importing Countries
12.1.1 By Volume
12.1.2 By Value
12.2 Major Exporting Countries
12.2.1 By Volume
12.2.2 By Value
13 Price Analysis
13.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 BroadGrain Commodities Inc.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 AGT Food and Ingredients
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Simpson Seeds Inc.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Archer Daniels Midland Company
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Others
15 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Fava Beans Market: Key Industry Highlights, 2018 and 2028
2. Global Fava Beans Historical Market: Breakup by Application (USD Million), 2018-2022
3. Global Fava Beans Market Forecast: Breakup by Application (USD Million), 2023-2028
4. Global Fava Beans Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
5. Global Fava Beans Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
6. Global Fava Beans Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Fava Beans Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Fava Beans Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Fava Beans Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Fava Beans Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Fava Beans Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Fava Beans Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Fava Beans Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Fava Beans Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Fava Beans Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Fava Beans Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Fava Beans Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Major Importing Countries by Value (2020)
19. Major Exporting Countries by Value (2020)
20. Major Importing Countries by Volume (2020)
21. Major Exporting Countries by Volume (2020)
22. North America Historical Price Trends and Forecast 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
27. Global Fava Beans Market Structure
Key Questions Answered in the Report
The global fava beans market is witnessed a growth at a CAGR of 1% in the historical period of 2018-2022.
The major industry drivers include rising adoption of healthier eating habits, rising disposable incomes, growing middle class population, and the rising consumption of legumes.
The growing awareness about the high nutritional value of fava beans is expected to be a key trend guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with the Asia Pacific accounting for a significant share in the market.
Food and feed, among others, are the leading application segments of the product in the market.
Supermarkets and hypermarkets, convenience stores, speciality stores, and online retailers, among others, are the major distribution channels in the market.
The major players in the industry are BroadGrain Commodities, AGT Food and Ingredients, Simpson Seeds Inc., and Archer Daniels Midland Company, among others.
Analyst Review
The global fava beans market witnessed a growth at a CAGR of 1% in the historical period of 2018-2022. The major drivers of the industry, such as high nutritional value of the product including protein, iron, magnesium, potassium, zinc, copper, selenium, and many vitamins, coupled by the rising disposable income of people, are expected to aid the market growth.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on applications, the market can be segmented into food, feed, and others. By distribution channels, the market is divided into supermarkets and hypermarkets, convenience stores, speciality stores, online retailers, and others. The major regional markets for fava beans are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share in the market. The key players in the above market include BroadGrain Commodities, AGT Food and Ingredients, Simpson Seeds Inc., and Archer Daniels Midland Company, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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