New York, NY, May 24, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Faba Beans Market By Application (Human Nutritional Products & Animal Feed), By Distribution Channel (Online & Offline), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026”.
“According to the research report, the global Faba Beans Market was estimated at USD 2,500 Million in 2020 and is expected to reach USD 2,800 Billion by 2026. The global Faba Beans Market is expected to grow at a compound annual growth rate (CAGR) of 2.1% from 2021 to 2026”.
Faba Beans Market: Key Market Insights Overview
Despite losing a dominant grip on the market over the past several decades, faba beans seem to be making a triumphant return. The nutraceutical sector witnesses growth due to greater awareness regarding the consumption of faba beans, data-driven studies showing valid results as well as the traditional shift from century-old traditional practices to modern measures.
Following the current trends in the industry, key players in the market have taken several steps to rack up revenue streams such as upgrading the quality of their products, higher volume production, greater marketing gimmicks, and also by updating agronomic practices, amongst others.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 225+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Faba Beans Market?
2) What is the market size, share of the Faba Beans Market?
3) Who are the top market players in Faba Beans Market?
4) What will be the future market of Faba Beans Market?
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Faba Beans Market: Industry Major Market Players
- GrainCorp Limited
- BI Nutraceuticals
- Prairie Faba
- Dunns (Long Sutton) Limited
- Centre State Exports Pty Ltd
- Nuttee Bean Co
- Sub Impex B.V
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Market Dynamics
An increase in consumers driven toward the practice of veganism or a vegetarian diet has been observed around the globe. This current fire is also fueled by notable factors such as a hands-on modification for the betterment of crop farming. The present-day attention seems to be on joint research programs which are further meant to pave the way for the future of faba beans. As such, several collaborative research programs across the globe have played a significant role in upscaling the latter. The International Center for Agricultural Research (ICARDA) and the European Union are extremely vital in increasing the footprint of faba beans in Europe. Furthermore, ICARDA is even working to push the combination of advanced technologies such as bioengineering tools towards the breeding of faba beans in hopes of ramping up greater quality products.
The distribution channel consists of offline and online means of disposition measures. The offline measures include other sub-categories such as supermarket, special retail stores and other third party vendors. The latter occupies the larger market share due to the large quality of alternative in lieu of the former.
The application segment is further disintegrated toward human nutritional products and animal feed. Revenue generated by the human nutritional products accounts for the larger revenue w.r.t market share. Given the restricted use cases in the animal feed sector coupled with extreme scientific developments in human nutritional products, the following statement proves itself.
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Global Faba Beans Market: Segmentation
The Faba beans market can be segmented in accordance with the application, distribution channels, and regions.
The application segment can be segregated among the major frontrunners for the Faba market – Human Nutritional products and Animal Feed. The sales proceeding towards nutritional products dominate the category as the use of the former outweighs the latter. Scientific advancements toward the science of plant breeding have further proved the prevalent growth of nutrition products over animal feed. Furthermore, the use for animal feed tilts on being limited with less existence of nourishing elements. The distribution channels can be divided into offline and online means. The offline means can be further bifurcated into supermarkets, convenience stores, and speciality stores. The offline channels account for most sales of the market share as most consumers prefer shopping from the latter due to the larger variety and convenience at a variable price point. However, with the advent of COVID-19 and constant lockdown, the online channels have begun to be picking up steam.
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The Asia-Pacific Region Is Set to dominate the Global Faba Market
India and China gobble up the major sales when it comes to import and production of faba beans. The principal reason can be attributed to the sheer population as well as the fact that the main components in faba beans make up for a variety of staple dishes for both the powerful economies. The region is further expected to keep its strong stance on the market due to allocated reasons such as studies indicating the health benefits, raising awareness among the robust population, and the ease of availability of the product due to its ability to grow in almost any kind of soil. Furthermore, China and India both belong to a culture of strong agricultural background.
However, the region of North America will witness the highest growing CAGR due to health-related concerns amongst their population w.r.t obesity-related conditions.
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The global faba beans market is segmented as follows:
Global Faba Beans Market: By Application Segment Analysis
- Human Nutritional Products
- Animal Feed
Global Faba Beans Market: By Distribution Channel Segment Analysis
- Online
- Offline
- Supermarkets
- Convenience Stores
- Speciality Stores
Frequently Asked Questions
What are the key factors driving the Global Faba Beans Market?
Additional health benefits such as increase in intake of nutritious elements such as proteins & starch along with L-Dopa levels as well as raised awareness about advantages of modern farming measures from the traditional farming means. Furthermore, initiatives such as stepping up of marketing materials and a rise in disposable incomes should further support the rise of the industry.
What will be the revenue generated by the Faba Market during 2021 – 2026?
According to Facts and Factors, global demand for the global faba market is expected to generate revenue of around USD 2,800 Million by end of 2026, growing at a CAGR of around 2% between 2021 and 2026.
Which region will dominate in terms of revenue in the global Faba Market?
Australia is expected to import a huge intake of the global faba supply, however, the regions of North America and Europe are expected to generate revenue worth 70% of the total global share.
KEY REPORT POINTERS & HIGHLIGHTS:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Micro, Meso, Macro, and In-Depth Analysis of Technically relevant and Commercially viable Segments and Sub-segments of the Market
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
- Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Value Chain and Supply Chain Analysis along with Horizontal and Vertical Integration Scenarios
- Manufacturing and Production Cost Structure Analysis including Labor Cost, Raw Material Expenses, and Other Manufacturing Expenses, wherever relevant
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
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