Fava Bean Protein Market

Fava Bean Protein Market Outlook (2022 to 2032)

The fava bean protein market is likely to register a CAGR of 4.2% during the forecast period, up from USD 56.79 Billion in 2022 to reach a valuation of USD 85.69 Billion by 2032.

The fava bean protein market is expected to show promising growth prospects during the forecast period.

Attributes	Details
Fava Bean Protein Market CAGR (2022-2032)	4.2%
Fava Bean Protein Market Value (2022)	USD 56.79 Billion
Fava Bean Protein Market Value (2032)	USD 85.69 Billion

Sales of fava bean protein is expected to rise due to growing demand for natural and plant-based proteins, evolving consumer behavior, and rising demand for fava bean protein in the nutraceutical sector.

Rising interest in fava bean protein from the nutraceutical sector is also projected to contribute to the growth of the fava bean protein market share.

Some of the key fava bean protein market trends promoting the demand for fava bean protein include the transition from traditional manual agricultural practices to the adoption of automated and modern agricultural equipment and techniques.

The sales of fava bean protein is growing due to these technological advancements that result in higher yield value, improved fava bean quality, and several other benefits. As a result of this factor, the global fava bean protein market share is predicted to grow during the forecast period.

What are the Key Drivers to the Fava Bean Protein Market Share?

As a result, demand for plant-based proteins has increased significantly, fueling demand for fava bean protein over the predicted period. Increased marketing access, improved agronomic practices around the world, and the growing adoption of an integrated approach to crop improvement are some of the other significant factors that are expected to drive the sales of fava bean protein.

The growing emphasis on collaborative research initiatives is projected to play a critical role in enhancing fava bean quality, a factor that is expected to boost the demand for fava bean protein throughout the assessment period. Collaborative research projects all across the world have helped to provide lucrative opportunities for the global fava bean protein market growth.

Due to its low cost, high protein content, and low allergenicity, manufacturers favor fava beans over other plant-based protein sources such as soy protein components and pea protein. As a result, the demand for fava bean protein is projected to grow during the forecast period.

Furthermore, while pea and wheat proteins account for a sizable portion of the vegetable- or plant-based protein market, manufacturers are focusing on expanding their protein portfolio by turning to novel sources. This, in turn, is projected to increase the sales of fava bean protein during the projected period.

In the next few years, the above-mentioned factors are projected to encourage plant protein manufacturers to enter the fava bean protein market.

The use of novel protein sources such as fava beans in the extraction of protein concentrates is increasing in response to the growing sales of fava bean protein and high-quality plant-based proteins.

Consumer processing, nutritional, and specialty demand for fava bean protein are determining manufacturers' and other stakeholders' future plans in the fava bean protein market.

Given the increased demand for fava bean protein in a variety of food and beverage end-uses and applications, major market participants are concentrating on altering product attributes to fulfil specific end-user demands. The sales of fava bean protein is growing as manufacturers are attempting to improve the flavor, texture, and taste of fava bean protein powders to appeal to various types of end users.

Furthermore, rising public knowledge of the fava bean's health benefits is predicted to boost fava bean protein concentrate extraction. In terms of texture, nutrition, and savory profile, fava bean protein powders are predicted to become a popular trend in the fava bean protein market.

Which is the Leading Region in the Fava Bean Protein Market?

In 2021, Asia Pacific accounted for more than 40.0 percent of the global fava bean protein market. It is an essential element in a range of traditional meals in countries such as India and China. One of the elements fueling demand for fava bean protein in the region is the growing use of roasted seeds as a low-fat snack in India and surrounding countries. China and Australia are two of the world's top producers of fava beans.

From 2022 to 2032, North America is expected to rise by more than 2%. The increased importance of plant-based protein sources in the United States and Canada as a result of rising concerns about glutamate disorders and lactose intolerance is predicted to boost overall fava bean protein consumption.

How is the Competitive Landscape in the Fava Bean Protein Market?

Key players in the fava bean protein market are BI Nutraceuticals, Alberta Pulse Growers, Prairie Fava., Puris Proteins, LLC., Dunns (Long Sutton) Limited, Sun Impex B.V., Nuttee Bean Co., Vestkorn Milling AS, Roquette Frères, GrainCorp Limited., Centre State Exports Pty Ltd, Australian Plant Proteins.

Market participants are using innovative ways of extracting fava bean protein concentrates, taking into account the customer preference for pulses as a healthier choice of plant-based protein source. As a result, this is projected to drive the sales of fava bean protein during the forecast period.

Key Developments

• Vestkorn, a renowned European producer of pea and bean components, announced the launch of new products in November 2019, including textured pea protein and textured fava bean protein. 
• Roquette Freres SA, a family-owned firm based in France that produces over 650 by-products from the starch extracted from potatoes, peas, corn, and wheat, said in October 2019 that it is exploring expanding outside the pea protein sector and into the fava bean protein market.

Report Scope

Report Attribute	Details
Growth rate	CAGR of 4.2% from 2022 to 2032
Base year for estimation	2021
Historical data	2014 to 2018
Forecast period	2022 to 2032
Quantitative units	Revenue in USD Million and CAGR from 2022 to 2032
Report coverage	Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered	Type, Application, End use industries, Region
Regional scope	North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand
Country scope	USA, Canada, Mexico, Germany, UK., France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa
Key companies profiled	BI Nutraceuticals; Alberta Pulse Growers; Prairie Fava.; Puris Proteins; LLC.; Dunns (Long Sutton) Limited; Sun Impex B.V.; Nuttee Bean Co.; Vestkorn Milling AS; Roquette Frères; GrainCorp Limited.; Centre State Exports Pty Ltd; Australian Plant Proteins.
Customization scope	Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.

Key Segments

By Type:

• Isolates
• Concentrates

By Application:

• Animal Nutrition
• Human Nutrition

By End-use Industries:

• Food and Beverages Industry
• Pharmaceutical Industry

By Region:

• North America
• Latin America
• Asia Pacific
• MEA
• Europe

Frequently Asked Questions

What is the Growth Outlook for the Fava Bean Protein Market?

The fava bean protein market is predicted to register a CAGR of 4.2% during the forecast period.

Who are the Key Players in the Fava Bean Protein Market?

Key players holding substantial fava bean protein market share include BI Nutraceuticals, Alberta Pulse Growers, Prairie Fava., Puris Proteins, LLC., Dunns (Long Sutton) Limited, Sun Impex B.V., Nuttee Bean Co., Vestkorn Milling AS, Roquette Frères, GrainCorp Limited., Centre State Exports Pty Ltd, Australian Plant Proteins.

What is the Future of the Fava Bean Protein Market?

As per the analysis, the fava bean protein market share is likely to be USD 85.69 Billion by 2032.

Which is the Key Driver in the Fava Bean Protein Market?

Demand for fava bean protein is likely to rise due to demand for natural and plant-based proteins and evolving consumer behavior.