Fava Beans Market: Growing demand by Middle eastern economies fuel the growth

Fava Beans

Also known as broad beans, fava beans are a member of the pea family which were first found to be cultivated around 10,000 years ago in the Middle East. Usually planted as a winter annual in subtropical areas, they are a good source of iron, potassium, magnesium, selenium, zinc and copper. In addition, protein levels in fava beans may vary depending on their variety and the environmental conditions. These beans can grow in a wide variety of soil types but loamy soil is best suited for their growth. In comparison to most legumes, fava beans have relatively low fat content with a good amount of dietary fibre and B-complex vitamins. Factors such as growing population, rising disposable incomes, adoption of healthier food habits and growing intake of legumes, particularly in emerging countries are currently driving the growth of the fava beans market.

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The global Fava Beans market was valued at USD 5.4 million in 2019 and projected to reach USD 7.55 million at a CAGR of 3.8 % over the forecast period. The global analytical report has been prepared by significant data research methodologies such as primary and secondary research. It classifies the global Fava Beans market in a precise manner to offer detailed insights about the different aspects responsible for augmenting as well as restraining the global market growth. Furthermore, it makes use of effective infographics while curating the global research report such as tables, charts, pictures, diagrams, and graphs. The scope of the analytical market research report extends from the basic outline of the global fava beans market to the complex structure of the market such as types, applications, and clients from global regions. Moreover, it offers data of global clients as well as some significant ways to explore global clients to increase the global fava beans market widely.

Following factors are encouraging the global market growth:

The global fava beans market is driven by various factors, like owing to its benefits towards maintaining a healthy lifestyle by way of healthy eating trends along with the growing awareness about the benefits associated with fava beans. Moreover, it offers effective results in maintaining blood pressure, and improving bone health, and boosting the immune system, and strengthening the human body.

Leading Players are:

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

Driving Factors:

  • The high nutritional benefits and growing accessibility and availability of fava bean through organized retailing have been important drivers of the global fava bean market.
  • Furthermore, increasing demand by regional consumers and healthy eating trends around the global regions are promoting the consumption of foods that are rich in nutrients. Thus, the demand for fava bean is growing among health-conscious consumers.
  • Moreover, the rapidly growing vegan population on a global level as a result of growing concerns regarding cardiovascular disorders associated with red meat is projected to boost the global market growth. These beans are a rich source of protein which has resulted in increased demand from fitness-conscious consumers across the global regions.

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