Below are some of the key findings from the fava beans market research report
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Global fava beans industry overview
The high nutritional benefits of fava beans and growing health awareness is one of the primary factors driving the global fava beans market growth. Fava beans are rich in vitamin A and soluble fiber that helps in digestion. They have a high concentration of vitamin K, potassium, copper, zinc, manganese, vitamin B-6, selenium, and thiamin and are beneficial for a healthy heart and brain. Eating fava beans also promotes cardiovascular health, helps in mitigating Parkinson’s disease, and prevents congenital disabilities. These health benefits are enhancing their growing consumption among health-conscious consumers and is driving the fava beans market growth.
The growing popularity of plant-based proteins is one of the key fava beans market trends which will further stimulate market growth. The growing vegan population has resulted in the increased consumption of fava beans as they provide almost 25% of one’s daily requirement of protein intake. This is encouraging vendors to prepare protein concentrates and extracts from fava beans, which then are used in nutraceuticals and in fortifying foods. The fava beans market forecast report predicts that fueled by these factors, the market will grow at a CAGR of over 2% during the forecast period.
Top fava beans companies covered in this market research report
The fava beans market is moderately fragmented and in the growth phase. As a differentiation strategy, the fav bean vendors are collaborating with packaging companies to introduce new packaging formats for their products. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this fava beans industry analysis report will aid clients to identify new growth opportunities and design new growth strategies.
The report offers a complete analysis of various companies including:
- Bob’s Red Mill Natural Foods
- Fresh Del Monte Produce
- Goya Foods
- Greenyard
- Simplot Australia
Fava beans market segmentation based on geographic regions
- Americas
- APAC
- EMEA
Global fava beans market analysis reveals that the APAC region will lead the fava beans market share till the end of the forecast period. The Americas will account for the highest fava beans market growth throughout the forecast period.
Fava beans market segmentation based on product
- Whole fava beans
- Powdered fava beans
Whole fava beans will continue to dominate the fava beans market share during the forecast period. Organic fava beans will account for the highest fava beans market growth. Additionally, the report also provides an accurate prediction of the contribution of the various products segments to the growth of the fava beans market size.
Key highlights of the global fava beans market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the fava beans market during the next five years
- Precise estimation of the global fava beans market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the fava beans industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of fava beans companies
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