Global Fava Beans
Market Report
2024
Fava beans market will be USD 2951.2 million in 2024 and expand at a compound annual growth rate (CAGR) of 2.30% from 2024 to 2031
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Fava Beans Market Report 2024.
According to Cognitive Market Research, the global fava beans market will be USD 2951.2 million in 2024 and expand at a compound annual growth rate (CAGR) of 2.30% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Fava Beans Market Sales Revenue 2024 | $ 2951.2 Million |
Global Fava Beans Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 2.3% |
North America Fava Beans Market Sales Revenue 2024 | $ 1180.48 Million |
North America Fava Beans Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 0.5% |
Europe Fava Beans Market Sales Revenue 2024 | $ 885.36 Million |
Europe Fava Beans Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 0.8% |
Asia Pacific Fava Beans Market Sales Revenue 2024 | $ 678.78 Million |
Asia Pacific Fava Beans Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.3% |
South America Fava Beans Market Sales Revenue 2024 | $ 147.56 Million |
South America Fava Beans Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 1.7% |
Middle East and Africa Fava Beans Market Sales Revenue 2024 | $ 59.02 Million |
Middle East and Africa Fava Beans Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 2% |
Market Split by Type |
|
Market Split by Application |
|
Market Split by Distribution Channel |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Key Qualitative Information Covered |
|
Report scope is customizable as we have a huge database of Fava Beans industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Fava Beans Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Fava beans, formally known as Vicia faba, are a species of legume distinguished by big, flat, and elongated seeds housed in thick, leathery pods. They are enriched with critical nutrients like protein, dietary fiber, folate, vitamin K, and minerals like iron, potassium, and magnesium. They also include antioxidants such as flavonoids and polyphenols, which fight oxidative stress and lower the risk of chronic diseases. Their fiber content promotes digestive health, regulates blood sugar levels, and improves cardiovascular health by lowering cholesterol and maintaining healthy blood pressure. Their frequent and moderate ingestion promotes red blood cell formation and helps prevent iron deficiency anemia.
The increased frequency of obesity, diabetes, and hypertension is driving up demand for goods containing fava beans. Aside from that, the rise of hotels, restaurants, and cafés and the incorporation of fava beans into various cuisines and beverages is driving market growth. Furthermore, food manufacturers are constantly expanding their product line by combining fava beans into new and innovative goods, such as fava-based pasta, chips, and snacks, to reach a larger consumer base.
During the historical period, the market for fava beans grew due to a growing movement towards veganism. Veganism entails abstaining from animal products, especially in one's diet.
(Source: https://gfi.org/blog/spins-data-release-2021/)
One of the main causes driving the demand for fava beans is the movement in consumer preferences toward plant-based diets due to concerns about sustainability, animal welfare, and health. Furthermore, the growing popularity of vegetarianism and veganism is fueling the market for plant-based foods like fava beans. Aside from this, a positive market outlook is being provided by people's growing understanding of the health advantages of consuming less meat.
Furthermore, the effects of meat production on the environment, such as greenhouse gas emissions and land use, are pushing food producers and consumers to look for sustainable protein substitutes. It is well known that fava beans may fix nitrogen in the soil, lowering the demand for artificial fertilizers. In addition, the need for plant-based proteins is being driven by the increasing global incidence of avian flu.
Crop rotation and sustainable agriculture techniques are becoming increasingly important to consumers and farmers, another important reason driving the market's expansion. Because fava beans are leguminous, they can fix nitrogen on their own, negating the need for synthetic fertilizers that cause greenhouse gas emissions and water pollution, among other environmental problems. Aside from this, the market is expanding because farmers and agricultural organizations are increasingly realizing the ecological advantages of including fava beans in crop rotation systems.
A tried-and-true method called crop rotation is planting different crops on the same plot of land in succession during the growing seasons. A good market outlook is also created by the growing demand for products produced in environmentally friendly methods. In addition, several bean firms are working with nearby farmers and agricultural communities to support environmentally friendly farming methods. This provides farmers with tools and training to enhance crop management and lessen environmental impact.
In some areas, fava beans are less well-known and utilized than other legumes. Customers unfamiliar with fava beans could be reluctant to buy or use them in recipes since they don't know how to cook and prepare them correctly. Fava beans usually take longer to cook than certain other legumes, especially if they are started from raw or dry. Customers looking for quick and simple meal options may be discouraged by this because they may prefer beans that cook more quickly.
Fava beans may or may not be included in products or menus by the food industry, depending on the results of culinary preparations and lengthier cooking periods. Because fava beans need more time and work to prepare, food manufacturers and restaurants might be reluctant to provide them, which could limit the number of people who can enjoy them.
The new COVID-19 pandemic is predicted to negatively impact fava bean demand, especially in 2020. This will have an impact on the fava bean market. The market for fava beans is expected to be significantly impacted by supply chain disruption brought on by strict lockdowns, the closure of non-essential service and commodity sectors, and limitations on domestic and international transit during the COVID-19 pandemic. Still, demand is expected to increase steadily in all places where COVID-19 is under control.
Online sales are predicted to rise in 2020 as customers avoid visiting retail stores, supermarkets, and brick-and-mortar establishments as a precaution. Faba beans provide numerous health benefits due to their antioxidant content, which improves the body's immune response. Faba beans also protect cells from damage and aging by inhibiting immune cells from oxidative stress and membrane damage.
We have various report editions of Fava Beans Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
Fava bean enterprises actively cultivate and farm fava beans. They constantly invest in agricultural strategies to increase yields, improve crop quality, and ensure long-term farming methods. They are also expanding their product options beyond conventional fava bean variations, such as fava bean snacks, spreads, and fava-based protein products, to cater to a wide range of consumer preferences. Aside from that, they employ stringent testing and quality control procedures at every stage of production to ensure the safety and quality of their products.
In January 2023, Tesco PLC, a British multinational retailer, collaborated with fava bean processor AB Mauri and its own-brand suppliers, including ready meal producer Samworth Brothers, to test the fava bean in various product lines and ingredients. This will enhance demand in the United Kingdom.
(Source: https://www.fruitnet.com/fresh-produce-journal/tesco-has-grand-plans-for-fava-beans/248107.article)
In September 2021, Verso Food, a Finnish firm that manufactures faba bean products, purchased Raisio Food Solutions for an unknown sum. Verso Food's acquisition intends to strengthen its position in the fava bean sector. Raisio Food Solutions is a Finland-based firm that specializes in healthy foods.
(Source: https://www.just-food.com/news/raisio-acquires-beanit-owner-verso-food/)
Top Companies Market Share in Fava Beans Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. A growing interest in sustainable agriculture and plant-based nutrition drives the fava bean market in North America. Individuals' health-conscious diet choices in the United States have resulted in a diverse client base for fava beans. The increased popularity of Mediterranean diets has impacted fava bean consumption in this region. Organic and non-GMO fava bean varieties are in high demand, with several start-ups and established businesses investing in product innovation and marketing techniques highlighting the health and environmental benefits of fava beans.
The Asia Pacific region is witnessing an increase in the sales of reagents. The Asia Pacific area, particularly China and India, exhibits robust changes in the fava bean landscape due to their large population and shifting eating habits. In China and India, demand is fueled by traditional cuisine incorporating fava beans and a growing awareness of plant-based proteins among the middle class. There has been an increase in investments in food technology and developments in fava bean products, with China holding important patents relating to fava bean processing and meat substitute uses.
The current report Scope analyzes Fava Beans Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
According to Cognitive Market Research, the global fava beans market size was estimated at USD 2951.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1180.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 0.5% from 2024 to 2031. The future of the North American fava bean market appears bright. The market is likely to expand with increasing consumer interest in healthy and sustainable foods and industry innovation. Consumers increasingly seek nutritional and sustainable food options; fava beans suit the criteria wonderfully. They contain protein, fiber, and essential minerals such as iron and calcium. The rise of veganism and vegetarianism is increasing the demand for plant-based protein sources. Fava beans are a potential meat and dairy substitute with a neutral flavor and adaptability in preparation. Human nutrition in North America is intricately tied to the expanding fava beans market. Consumers increasingly seek nutritional and sustainable food options; fava beans suit the criteria wonderfully, driving sales in application types.
Cognitive Market Research shows a market value of USD 2951.2 million in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 0.8% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 885.36 million. Promoting sustainable agricultural techniques is a top priority for the European Union. As a result, there is more encouragement for the production of pulses, such as fava beans. Research and development expenditures for novel fava bean types and products are rising. This makes fava beans more appealing to consumers and food makers by enhancing their yield, quality, and taste. Human nutrition application is expected to grow as fava beans are becoming more and more popular as people choose vegetarian and vegan diets. This is because they have a high protein content—roughly 25%. They make a healthy substitute for meat and other animal protein derived from animals.
According to Cognitive Market Research, the global fava beans market size was estimated at USD 2951.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 678.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. A common dietary item in several Asian nations, including China, India, and Myanmar, is fava beans. They are utilized in many classic recipes, including ful medames and falafel. The world's greatest population is in the Asia Pacific region, which means there is a sizable potential market for fava beans. Although they may be produced in many different regions, fava beans prefer warm, humid climes, prevalent throughout much of Asia Pacific. Additionally, some governments in the area—like China's—are encouraging farmers to cultivate fava beans, contributing to increased production.
According to Cognitive Market Research, the global Fava beans market size was estimated at USD 2951.2 Million, out of which Latin America market of more than 5% of the global revenue with a market size of USD 147.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.7% from 2024 to 2031. Producers, processors, and food companies have a lot of intriguing potential in the Latin American fava bean industry. The area may greatly impact the global fava bean market by tackling the issues and taking advantage of the rising demand for sustainable and healthful protein sources. The market for fava beans used in human nutrition in Latin America is anticipated to expand rapidly in the upcoming years. The rising interest in plant-based protein and the expanding knowledge of the health advantages of fava beans are probably driving this expansion.
According to Cognitive Market Research, the global fava beans market size was estimated at USD 2951.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 59.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.0% from 2024 to 2031. The Middle East and Africa region is predicted to be one of the fastest-growing markets for fava beans, owing to rising population, rising disposable incomes, and increased knowledge of fava beans' health advantages. In the region, fava beans are primarily used for human consumption (as a pulse or flour), animal feed, and industrial use. The fava bean market in the Middle East and Africa is predicted to expand rapidly in the next years. The growing need for plant-based protein, expanding urbanization, and government initiatives are projected to be the primary drivers of this expansion.
Global Fava Beans Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Fava Beans Industry growth. Fava Beans market has been segmented with the help of its Type, Application Distribution Channel, and others. Fava Beans market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, fresh beans held the major market share over the forecast period. Comparing fresh fava beans to other legumes like lentils or chickpeas, the market for them is smaller and more seasonal. Fresh favas are becoming increasingly popular in the kitchen because of their distinct flavor and adaptability. Fresh fava beans are in high demand across Europe and the Middle East, where they are a common addition to regional cuisine. Although it is currently quite modest, the fresh fava bean market in the United States is expanding. Purchasing directly from farmers at farmers' markets or through community-supported agriculture (CSA) initiatives is becoming increasingly common.
Organic is the fastest-growing category over the forecast period. Due to their perception that organic products are healthier and more sustainable, consumers are becoming more interested in buying them. This trend is anticipated to continue in the upcoming years, propelling the market for organic fava beans to increase. As more people explore ways to reduce their intake of animal products, plant-based diets are growing in popularity. Fava beans are a popular option for vegans and vegetarians since they are high in fiber and protein.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Fava Beans Industry. Request a Free Sample PDF!
Fava Beans Market Application Segment Analysis
According to Cognitive Market Research, human nutrition holds a prominent market share. Due to their high nutritious content, wide beans are becoming increasingly in demand as vegetarianism and the trend toward healthier eating gain traction. As the consumption trend shifts from processed meat to plant-based proteins, increasing the inclusion of these beans in the normal diet is anticipated to raise demand for fava beans.
Animal nutrition is the fastest-growing category over the forecast period. The existence of anti-nutritional elements restricted the use of fava beans in animal feed. However, its presence has diminished due to plant breeding and feed processing technology advances. Although the amount of fava beans in animal feed varies depending on the type and age of the animal, they are mainly employed in the diets of pigs and poultry.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
According to Cognitive Market Research, supermarket/hypermarket holds a prominent market share. One important avenue for the sale of fava beans is supermarkets and hypermarkets. They provide an extensive range of fava bean goods, including pasta and flour made from fava beans and dried, tinned, and fresh beans. Supermarkets and hypermarkets also provide a range of ethnic delicacies like hummus and falafel made using fava beans. Supermarkets and hypermarkets have the potential to contribute to this increase by providing a greater range of fava bean products, informing customers about the advantages of fava beans, and lowering their prices.
E-commerce platforms are the fastest-growing category over the forecast period. The online channel has grown significantly in popularity over the past several years among customers who favor convenience and mobile purchasing. Online retailers like Amazon sell many fava beans, including whole, unpeeled, and cooked beans. Fava beans are a popular snack in the Asia-Pacific region, where the trend is growing.
Research Analyst at Cognitive Market Research
I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.
Nisha Deore is a highly skilled Research Analyst with over three years of experience specializing in the agriculture and food & beverage sectors. Her expertise encompasses secondary research, data mining, competitive analysis, and the development of detailed collateral and PR materials. Known for her meticulous approach, Nisha designs robust research methodologies and delivers actionable insights that support her organization’s commercial and financial objectives.
In her current role, Nisha manages research for both the agriculture and food & beverage categories, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With a deep passion for both sectors and a commitment to continuous professional development, Nisha remains an invaluable asset in the dynamic landscape of market research.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Fresh, Frozen, Pod, Organic, Others |
Application | Animal Feed, Human Nutrition |
Distribution Channel | Supermarket/Hypermarket, Grocery Stores, E-commerce Platform, Others |
List of Competitors | Prairie Fava Ltd., Unigrain Pty Ltd., Roland Beans, Aviip Group, Alberta Pulse Growers Commission, Stamp Seeds Inc., Pawnee Buttes Seed Inc., Archer Daniels Midland Company, Cargill Incorporated, Bunge Limited, AGT Food and Ingredients Inc., Ingredion Incorporated, SunOpta Inc., The Scoular Company, Roquette Frères, Verdient Foods Inc., Grain Millers Inc., Best Cooking Pulses Inc., The Andersons Inc., Legumex Walker Inc., Bonduelle Group, Dakota Dry Bean Inc., Nordic Foods Inc. |
This chapter will help you gain GLOBAL Market Analysis of Fava Beans. Further deep in this chapter, you will be able to review Global Fava Beans Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Fava Beans Market Trends North America Fava Beans Technological Road Map North America Fava Beans Market Drivers North America Fava Beans Market Restraints North America Fava Beans Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
You can purchase only the Executive Summary South America Market (2019 vs 2024 vs 2031)
Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Distribution Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Fava Beans market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Fresh have a significant impact on Fava Beans market? |
What are the key factors affecting the Fresh and Frozen of Fava Beans Market? |
What is the CAGR/Growth Rate of Animal Feed during the forecast period? |
By type, which segment accounted for largest share of the global Fava Beans Market? |
Which region is expected to dominate the global Fava Beans Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|
Published Report Editions
are Just a Tip of an Iceberg
Access the Complete Database of
Fava Beans Market
Request Sample