Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Faba bean is legume crop grown for its edible seeds and it is a major legume seed consumed by human. Faba beans provide protein which is healthier option for human body. Some varieties seeds are grown as a fodder and it is an important livestock feed. This is used as a source of protein in human diets and they are nutritious and excellent source of soluble, fiber, folate, manganese, copper and several other micronutrients. Eating these beans provide benefits to cure diseases. Faba beans are possible source of protein for livestock. Faba beans help to lower blood pressure and lose weight also help to boost immunity.
Increased demand among consumer for plant-based proteins has drive the growth in faba beans market. Consumers are shifting toward vegetarian diet and increase veganism across world are key factor fuel the growth of the faba beans market. Improved agronomic practices and growing adoption of integrated farming for crop improvement increase demand for faba beans. Increased awareness among consumer for benefit of consuming faba beans such factor rise interest in faba beans. Faba beans are low coast lean protein source. Growing demand for rich nutritional animal feed and conventional food products boost the market growth.
Covid-19 has negatively affected industries across the globe. Day by day as the situation worsened, quarantines, social distance practices were imposed and nations have begun instituting lockdowns. This pandemic is created pressure on agriculture industry as worker shortage. The shutdown of economic activities affected all the sectors. Labor shortage is due to movement restriction imposed by Government. This situation created difficulties in importing and exporting agriculture products as whole supply affected. Due a complete stay at home order lower crop production taking place. Due to lower production result in shortage of products, affecting the supply demand of clients.
The report analyses the faba beans market based on type, nature, distribution channel, end-user and geography.
Protein isolate, protein concentrate, flours are the major type of faba beans available in the market. Faba beans flour is likely to grow significantly in forecast period. Besides, beans flour is mostly used in production of pasta and bread. Beans flour is a thicker for souces and gravies as well as it is used for base of dips and sources. Faba beans are rich in protein such as lysine also flour help to adds proteins, fiber, and iron to a baked food.
Faba beans are either organic or conventional by nature. Organic faba beans segment is likely to grow rapidly during the forecast period. They are also called as broad beans. These beans are fully dried and whole legumes. Broad beans are excellent source of protein and fiber. It is also used by farmers as a cover crop to prevent soil erosion, regulate moisture.
Based on end-user, faba beans market is segmented into, food processing, animal feed, nutraceuticals, sport nutrition, infant nutrition. Food processing segment is likely to dominate the market over the forecast period. Faba beans are one of the oldest crops grown by humans as it is used as best source of protein in human diet. Increasing popularity for plant based nutrient and vegetarianism use of faba beans increased. Demand for nutrient based product increased production in food industry. Different types of soups are made by faba beans such as falafel soup, bissara soup. In animal feed, faba beans are not used in large quantity due to the presence of anti-nutritional factors.
The major distribution channels through which faba beans are made available include supermarket, convenience stores, specialty stores and online stores. Most of the people purchase product from offline channel such as supermarket, convenience store. In offline store, wide range of products are available. Increase in preference and popularity of supermarket or offline stores is developing in emerging countries. These shops are considered as a major distribution channel for sale of products and these are self-service shops which offer several categories of products. Supermarkets offer different product under one roof with affordable prices compared to other distribution channels. Also, better service and pleasant customer experience increases the supermarket growth.
Geographically, the Faba beans market is studied across the countries of key regions such as North America, Europe, Asia Pacific and the rest of the World which includes Latin America and Middle East & Africa. Asia pacific is expected to the fastest growing region in the forecast period. In countries such as India and China faba beans is used as an important ingredient in various dishes. In China, these beans are used in cuisines and as vegetable and seasoning. China and Australia are world’s leading faba beans producing countries. North America is also expected to grow significantly for faba beans market owing to increasing awareness of plant-based protein products. IN U.S., and Canada, consumer concerns related to glutamic disorders is expected to impact positively for adoption of faba beans.
Some of the major player operating in the faba market include, BI Nutraceuticals, Alberta Pulse Growers, Prairie Fava, Puris Proteins, LLC., Dunns (Long Sutton) Limited, Sun Impex B.V, Sun Impex B.V., Vestkorn Milling AS, Roquette Frères, GrainCorp Limited., Centre State Exports Pty Ltd, Australian Plant Proteins.
The report analyses the faba beans market based on type, nature, distribution channel, end-user and geography. Protein isolate, protein concentrate, flours are the major type of faba beans available in the market. Faba beans are either organic or conventional by nature. Organic faba beans segment is likely to grow rapidly during the forecast period. Based on end-user, faba beans market is segmented into, food processing, animal feed, nutraceuticals, sports nutrition, infant nutrition. Food processing segment is likely to dominate the market over the forecast period. The major distribution channels through which faba beans are made available include supermarket, convenience stores, specialty stores and online stores. Geographically, the Faba beans market is studied across the countries of key regions such as North America, Europe, Asia Pacific and the rest of the World which includes Latin America and Middle East & Africa.
Some of the major player operating in the faba market include, BI Nutraceuticals, Alberta Pulse Growers, Prairie Fava, Puris Proteins, LLC., Dunns (Long Sutton) Limited, Sun Impex B.V, Sun Impex B.V., Vestkorn Milling AS, Roquette Frères, GrainCorp Limited., Centre State Exports Pty Ltd, Australian Plant Proteins,
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