ALBANY, N.Y, Nov. 9, 2020 /PRNewswire/ — Healthy eating trends are rapidly spreading among the global populace. The awareness about leading a healthy lifestyle is spiraling extensively across the globe. As faba beans have high nutritional benefits, it is expected to be in expansive demand over the assessment period. Hence, this aspect may bring tremendous growth opportunities for the faba beans market from 2020 to 2030.
Faba bean falls under the purview of the family Fabaceae. These are green legumes and come in pods. Faba beans are also known as broad beans. The beans are loaded with fiber, vitamins, protein, and minerals. This aspect makes them one of the preferred choices as a superfood.
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The researchers at Transparency Market Research (TMR) have studied and scrutinized every aspect related to growth. After a thorough analysis of all the factors, they have concluded that the global faba beans market is expected to expand at a CAGR of 4.2 percent through the forecast period of 2020-2030. The global faba beans market was valued at ~US$ 52.3 mn in 2020 and is expected to reach a valuation of ~US$ 79 mn by 2030.
The rapidly expanding vegan population across the globe and the increasing health concerns regarding cardiovascular disorders due to red meat may help the faba beans market to gain extensive growth across the assessment period. Other benefits of faba beans such as easy digestibility and high metabolism may bring expansive growth prospects for the faba beans market.
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Faba Beans Market: From Analysts’ Perspective
The analysts at Transparency Market Research (TMR) attribute the growth of the faba beans market to factors like extensive demand for plant-based proteins, intense research activities, and development of faba beans agronomics. The analysts advise the market players to focus on advertising activities and engaging branding strategies to be a step ahead of the competition across the faba beans market.
Faba Beans Market: Key Findings
- Based on the product type, the protein isolate segment is leading with a market share of ~45.9 percent in terms of market value
- Conventional is a dominating nature segment that’s expected to account for 95.4 percent
- On the basis of processing type, wet processing type is expected to expand at a CAGR of 4.9 percent across the forecast period
- Regionally, North America and Europe holds a ~69 percent share
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Faba Beans Market: Growth Prospects
The adoption of a healthy lifestyle by a considerable populace and the inclination toward a vegan lifestyle may bring extensive growth opportunities for the faba beans market.
- Anti-cancer properties associated with faba beans may bring enormous growth prospects
- Escalating demand for meat alternative products with added nutritive contents may invite substantial growth for the faba beans market
- Magnanimous demand in aquaculture brings promising growth for the faba beans market
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Are Faba Beans the New Soy?
The emergence of faba beans as a greener substitute to soy market may bring exponential growth for the faba beans market. Rising concerns about the environmental sustainability of soybean farming are leading to a search for better alternatives. Research studies suggest that faba beans may serve as a better alternative to soybeans. The researchers applied the ‘wet fractionation’ technique for viable findings. Such developments may bring promising growth prospects for the faba beans market.
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Global Faba Beans Market: Segmentation
By Product Type
- Protein Isolates
- Protein Concentrates
- Other Product Types
By End Use
- Food processing
- Animal Feed
- Sports Nutrition
- Infant Nutrition
By Processing Type
- Dry Processing
- Wet Processing
- North America
- Latin America
- East Asia
- South Asia
- The Middle East and Africa
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