Natural And Plant-Based Ingredients Trend Is Propelling The Demand For Faba Beans Flour

The global fava bean protein market is expected to be worth $56.7 million in 2022, representing a 4.2% year-on-year increase. According to projections, global consumption of fava bean proteins will grow at a healthy CAGR of 4.2% between 2022 and 2032, with the United States accounting for more than 35% of the increase in revenue.

Fava beans are regarded as an important source of protein for both humans and animals. According to the United Nations Food and Agriculture Organization (FAO), fava beans meet approximately 26% of daily protein requirements in malnourished countries.

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Competitive Landscape

The global faba bean protein market is consolidated in nature with a few key manufacturers operating in this space. However, with the rising number of new entrants, the competitive nature of the market is anticipated to grow more rigorous, making the market low to moderately consolidated.

Key industry leaders are predominantly taking efforts to bring innovation in fava bean protein products, for which, they are investing in developing R&D facilities. Some inorganic strategies such as mergers, acquisitions, and joint ventures are also supporting geographical expansion as well as the building of production facilities for several manufacturers.
All these strategies will help to add to the profit margin of fava bean protein manufacturers over the coming years.

For instance :

• In November 2021, AGT Foods, a key leader in the fava bean protein market, entered into a partnership with dairy ingredient supplier Friesland Campina, to launch a new product - Plantaris Fava Isolate 90 A.
• In December 2019, Roquette Freres, a market leader in the plant-based protein market, announced the expansion of its plant-based protein portfolio by launching a new textured fava bean protein NUTRALYS® TF-C.

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Faba Beans Flour Market: Segmentation

Faba beans flour market is segmented into different parts based on the nature, application, end use and distribution channel. On the basis of application, bakery and confectionary is holding highest market share in faba beans flour market. It is due to its higher nutritive value. Offline distribution channels hold major portion of faba beans flour market as they stock variety at varying price points.

Based on nature, faba beans flour market is segmented into:

• Organic
• Conventional

Based on application, faba beans flour market is segmented into:

• Protein bars
• Confectionary
• Pasta
• Bakery
• Meat Products

Based on distribution channel, faba beans flour market is segmented into:

• Modern Trade
• Speciality Stores
• Online Stores
• Other Sales Channels

What European countries have the highest demand for Faba Bean Protein?

The European fava bean protein market is expected to be worth $23.5 million by 2032. The European faba bean protein market is expected to be dominated by Germany, France, and the United Kingdom.
Germany is expected to account for more than 20% of the European market in 2022, while France and the United Kingdom are expected to account for 33.5% of the region's consumption of faba bean protein.
Growing health-conscious populations and rising per capita disposable income are driving up consumption and demand for fava bean proteins in Europe, particularly in these three countries.

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This release was published on openPR.