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Pulished Date November, 2019
ID: 8894
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Fava Beans Market Segmented by Application (Human Nutrition, Animal Feed), by Distribution Channel (Offline (Supermarkets/Hypermarkets, Specialty Stores, Departmental Stores,) Online Retailers) Regional analysis- Global Industry Analysis, Forecast, Trends and Market Size and Forecast to 2024

Pulished: November, 2019
ID: 8894
Pages: 175

Fava Beans Market Size & Growth (2019-2024):

Fava Beans Market size was estimated at USD 3.1 billion in 2018 and is expected to expand at CAGR of 1.8% to reach USD 4.3 Billion by 2024. Fava beans are a set of nutritious, rich seeds with dietary ingredients as protein, vitamin K, vitamin B complex, potassium, zinc, copper, selenium, iron, magnesium, and fiber. The increasing popularity of vegan culture in countries such as the United States, Germany, the United Kingdom, and France as a result of growing concerns about adverse effects associated with the rising intake of meat products is likely to increase the value of broad beans in the formulation of functional foods. Product innovations are the key trend that is taking over the fava beans market.

Drivers and Restraints of Fava Beans Market:

Drivers:

  • Growing populations with rising disposable income are the key factor that drives the fava beans market.
  • Adoption of healthier food habits with increased intake of legumes is expected to drive the fava beans market.
  • Emerging economies like India and China in the Asia-Pacific region, followed by the increased demand in Middle Eastern countries will propel the fava beans market forward.

Restraints:

Fava Beans market is a densely crowded market with constant product innovations, to keep up with the constantly changing customer requirements.

Recent Developments:

For example, in 2016, Bi Nutraceuticals, a leading manufacturer of botanical ingredients, introduced two protein powders–Faba Bean Protein Concentrate 80 per cent and Faba Bean Protein Concentrate 60 percent.

Market Segmentation Analysis:

By Application:

  •  Human Nutrition
  • Animal Feed

Out of these, Human nutrition products dominated the market, accounting for more than 75.0 per cent of global sales in 2018. The increasing popularity of vegetarianism, combined with the trend of healthy eating, is driving demand for broad beans, as they are a rich source of nutrients. In the coming years, increasing the inclusion of these beans in the regular diet is expected to drive demand for fava beans market as the trend of consumption continues to move from processed meat to plant-based proteins.

Fava bean flour is also used for the production of bread and pasta. Medamis, Falafel, Bissara and Nabet soups are among the popular dishes made with Faba beans. The use of fava bean in animal feed was limited due to the presence of anti-nutritional factors. However, the advancement in plant breeding and feed processing technology has lowered its presence. Fava beans are primarily used in poultry and pig diets, but the quantity in animal feed tends to vary based on animal species and age.

By Distribution Channel:

In 2018, the offline distribution channel dominated the market, accounting for more than 90.0%. Most consumers prefer to shop from offline retailers such as hypermarkets, supermarkets and convenience stores as they store a wide range of products available at different price points.

The online channel is predicted to be the fastest-growing segment of the CAGR by more than 3.4% from 2019 to 2024. Over the last few years, the online channel has become very popular among consumers who prefer the convenience and on-the-go shopping. A wide variety of fava beans, including whole, unpeeled and cooked beans, are sold through online portals such as Amazon. The trend is gaining traction in the Asia Pacific, where fava beans are enjoyed as snacks.

Fava Beans Market Region wise analysis:

Marked Segmentation Based on the region:

North America

  • U.S
  • Canada

Europe

  • Norway
  • Germany
  • Sweden

Asia Pacific

  • China
  • India
  • Japan

Latin America and Middle East Africa

  • Brazil
  • Saudi Arabia

The Asia Pacific region accounted for more than 40.0% of the market in 2017. In countries such as India and China, it is an important ingredient in a variety of traditional dishes. Growing consumption of toasted seeds as a low-fat snack in India and neighboring countries is one of the factors driving demand in the region. China and Australia are among the world's leading fava beans producing countries.

North America is projected to grow by more than 2.0% from 2019 to 2024. The increasing importance of plant-based protein products in the U.S. and Canada due to growing concerns about glutamic disorders and lactose intolerance is expected to have a positive impact on the overall consumption of beans. The high obesity rate in the U.S. is also expected to support the demand for these beans as low-fat protein alternatives.

Key Players in the Market:

New product launches are expected to be one of the key competitive strategies for producers. Manufacturers have also increased their expenditure on developing new products based on fava beans.

  • GrainCorp Limited
  • BI Nutraceuticals
  • Dunns (Long Sutton) Limited
  • Centre State Exports Pty Ltd
  • Sun Impex B.V
  • Nuttee Bean Co
  • Prairie Fava

The major exporting countries include Australia, China, Ethiopia, France, France, Egypt, Germany, Saudi Arabia, and the UK.

Global Fava Beans Market Research Report Key Highlights:

  • Evaluation of the current stage of market and future implications of the market based on the detailed observation of Recent key developments.
  • Address the matter by better understanding the market size estimates through CAGR analysis to forecast the future market.
  • Comprehensive segmentations of the market, the detailed evaluation of the market by further sub-segments.
  • Address Market Drivers, Restraints and providing insights for gaining market share.
  • Porter’s Five Forces are used to analyze the factors responsible for the shaping of the industry as it is as a result of competitive environment.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                           

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                              

                2.2 Research Phases                      

                                2.2.1 Secondary Research            

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling     

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                      

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                             

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                      

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market               

5. Market Segmentation                                              

                5.1 Application                 

                                5.1.1 Introduction           

                                5.1.2 Human Nutrition  

                                5.1.3 Animal Feed           

                                5.1.4 Others      

                                5.1.5  Y-o-Y Growth Analysis, By Product               

                                5.1.6  Market Attractiveness Analysis, By Product             

                                5.1.7  Market Share Analysis, By Product               

                5.2 Distribution Channel                              

                                5.2.1 Introduction           

                                5.2.2 Supermarkets/Hypermarkets         

                                5.2.3 Speciality/Departmental Stores     

                                5.2.4 Online Retailers    

                                5.2.5 Y-o-Y Growth Analysis, By Type      

                                5.2.6 Market Attractiveness Analysis, By Type     

                                5.2.7 Market Share Analysis, By Type      

6. Geographical Analysis                                              

                6.1 Introduction                              

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Application

                                                6.1.3.3 By Distribution Channel

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Application

                                                6.1.4.3 By Distribution Channel

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Application

                                                6.1.5.3 By Distribution Channel

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy           

                                6.2.6 France      

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan        

                                6.3.5 Australia  

                                6.3.6 South Korea           

                6.5 Latin America                            

                                6.4.1 Introduction           

                                6.4.2 Brazil         

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America         

                6.6 Middle East & Africa               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa        

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental      

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services

                                7.2.5 Competitive Rivalry within the Industry      

8. Market Leaders' Analysis                                        

                8.1 Grain Crop                  

                                8.1.1 Overview

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 BI Naturaceuticals                   

                8.3 Dunns                           

                8.4 Centre State Exports                              

                8.5 Sun Impex                  

                8.6 Nuttee Bean Co.                       

                8.7 Prairie Fava                

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                        

                9.3 Agreements, collaborations and Joint Ventures                          

                9.4 New Product Launches                          

10. Market Outlook and Investment Opportunities                                          

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of By Application, Distribution channel and along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

 

 

  1. Global Fava Beans Market By Region, From 2019-2024 ( USD Billion )
  2. Global Fava Beans Market By Application, From 2019-2024 ( USD Billion )
  3. Global Human Nutrition Market By Region, From 2019-2024 ( USD Billion )
  4. Global Animal Feed Market By Region, From 2019-2024 ( USD Billion )
  5. Global Fava Beans Market By Distribution Channel, From 2019-2024 ( USD Billion )
  6. Global Supermarkets Market By Region, From 2019-2024 ( USD Billion )
  7. Global Hypermarkets Market By Region, From 2019-2024 ( USD Billion )
  8. Global Speciality Stores Market By Region, From 2019-2024 ( USD Billion )
  9. Global Deparmental Stores Market By Region, From 2019-2024 ( USD Billion )
  10. Global Online Retailers Market By Region, From 2019-2024 ( USD Billion )

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