Faba Beans Global Market To Reach Value Of About $3.47 Billion In 2025
8 Jun, 2021
The faba beans market consists of sales of faba beans. The market consists of revenue generated by establishments that are engaged in the production of faba beans. The faba bean is a common legume cultivated for its edible seeds or beans. Some varieties of faba beans are used as a source of protein for livestock. Faba beans are also widely used in the production of products such as protein powders and custom blends. The companies in the faba beans production distribute their products through various distribution channels to both individual customers and commercial establishments.
Global Faba Beans Market Size And Drivers:
The global faba beans market is expected to grow from $3.06 billion in 2020 to $3.18 billion in 2021 at a compound annual growth rate (CAGR) of 3.77%. The growth is mainly due to the growing demand for natural and plant-based proteins. The faba beans market is expected to reach $3.47 billion in 2025 at a CAGR of 2.19%. The increasing shift towards veganism boosted the growth of the faba beans market during the historic period.
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Trends In The Global Faba Beans Market
Major companies in the market are focusing on technical advancements of their products in order to cater to the growing need for plant-based proteins. For instance, in 2020, Belgium based Verso Food using wet extrusion, developed a method to manufacture a faba-based food product with a fibrous structure close to cooked meat and chicken.
Global Faba Beans Market Segments:
The global faba beans market is further segmented based on nature, end use, distribution channel and geography.
By Nature: Organic, Conventional
By End-Use: Food Processing, Animal Feed, Nutraceuticals, Sports Nutrition, Infant Nutrition
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retailers, Others
By Geography: The global faba beans market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the faba beans market in 2020.
Read More On The Report For The Global Faba Beans Market At:https://www.thebusinessresearchcompany.com/report/faba-beans-global-market-report
Faba Beans Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides faba beans market overviews, analyzes and forecasts market size and growth for the global faba beans market, faba beans market share, faba beans market players, faba beans market segments and geographies, faba beans market’s leading competitors’ revenues, profiles and market shares. The faba beans market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.