Fava Bean Protein Market Is Anticipated To Reach US$ 85.6 Million By 2032

In 2022, the global market for fava bean protein is estimated to reach a value of US$ 56.7 million, with a year-on-year growth of 4.2%. Projections indicate a robust Compound Annual Growth Rate (CAGR) of 4.2% for the consumption of fava bean proteins worldwide from 2022 to 2032. The United States is anticipated to contribute significantly to this growth, with over 35% increase in revenue.

Fava beans are recognized as a vital source of protein for both humans and animals. According to the United Nations Food and Agriculture Organization (FAO), fava beans fulfill approximately 26% of the daily protein requirements in regions grappling with malnutrition.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=4929

While fava bean prices have traditionally exhibited stability across regions, variations in prices have been noted among countries, largely influenced by regional attributes. Countries that heavily rely on fava bean imports tend to experience higher price points.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐓𝐫𝐞𝐧𝐝𝐬:

Rising Demand for Plant-Based Proteins: With growing concerns about health, sustainability, and animal welfare, there is a rising demand for plant-based protein sources. Fava beans are gaining popularity as a sustainable and nutritious protein alternative, particularly among consumers seeking vegetarian, vegan, or flexitarian diets.

Health and Wellness Trends: Fava beans are naturally high in protein, fiber, and various micronutrients, making them attractive to health-conscious consumers. The increasing awareness of the health benefits associated with fava beans, such as their cholesterol-lowering properties and ability to support weight management, is driving their consumption.

Expansion of Food Product Offerings: Food manufacturers are incorporating fava bean protein into a wide range of food products, including plant-based meat substitutes, dairy alternatives, snacks, and baked goods. This expansion of product offerings is fueling the growth of the fava bean protein market, as consumers seek out innovative and nutritious food options.

Clean Label and Natural Ingredients: Consumers are increasingly looking for clean label products made with natural and minimally processed ingredients. Fava bean protein aligns with these preferences as it is perceived as a clean and natural source of protein without the need for extensive processing or additives.

Food Industry Innovation: Ongoing research and development efforts in the food industry are driving innovation in fava bean protein extraction and processing technologies. These advancements are improving the taste, texture, and nutritional profile of fava bean-based products, making them more appealing to consumers.

Sustainable Agriculture Practices: Fava beans are recognized for their ability to enrich soil fertility and reduce the need for synthetic fertilizers, making them an environmentally sustainable crop. As sustainability becomes a greater focus in food production, the adoption of fava beans in crop rotations and sustainable farming practices is expected to increase.

Regional Market Growth: While fava beans have a long history of consumption in certain regions, such as the Mediterranean and Middle East, there is growing interest in fava bean protein in other parts of the world, including North America and Asia-Pacific. This expansion of the market is driven by increasing globalization, changing dietary habits, and the promotion of plant-based diets.

𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝

• AGT Food and Ingredients
• Ingredion Inc.
• Roquette Freres
• Prairie Fava
• Puris Proteins LLC
• Vestkorn Milling AS
• Australian Plant Protein

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

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.

𝐂𝐚𝐭𝐞𝐠𝐨𝐫𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐅𝐚𝐛𝐚 𝐁𝐞𝐚𝐧 𝐏𝐫𝐨𝐭𝐞𝐢𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

• By Product Type :
o Protein Isolates
o Protein Concentrates
o Flour
o Other Product Types

• By Nature :
o Organic Fava Bean Protein
o Conventional Fava Bean Protein

• By End Use :
o Food Processing
 Bakery & Confectionery
 Meat Alternatives
 Functional Foods
 Dairy Replacements
 Infant Foods
 Other Food Applications
o Animal Feed
o Nutraceuticals
o Sports Nutrition
o Infant Nutrition

• By Processing Type :
o Dry Processing
o Wet Processing

• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia
o Oceania
o MEA

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://www.factmr.com/report/4929/faba-bean-protein-market

𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭:

Soy Protein Hydrolysate Market: https://www.factmr.com/report/322/soy-protein-hydrolysate-market

Rice Protein Market: https://www.factmr.com/report/520/rice-protein-market

Textured Soy Protein Market: https://www.factmr.com/report/527/textured-soy-protein-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

𝐀𝐛𝐨𝐮𝐭 𝐅𝐚𝐜𝐭.𝐌𝐑
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

This release was published on openPR.