One of the main drivers of worldwide market growth for fava beans is the dietary advantages of fava beans and increasing knowledge about health. Vitamin A and soluble fibers that assist digestion are rich in fava bean. The vitamin K, potassium, copper, zinc, manganese, vitaminB-6, selenium and thiamin are of elevated concentration and benefit a good heart and brain. These legumes also have a higher protein content and are common among the growing amount of vegetarians. The growing amount of organized retail companies providing fava beans worldwide have made the finding of an appropriate retail channels easier for new entrants in the industry.
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High Demand for Plant-Based Proteins to Propel Fava Beans Market
The increasing vegan population has boosted fava bean consumption, which represents almost 25% of the daily protein intake requirements. This encourages suppliers to make protein concentrate and fava bean extracts, which are then used in nutraceuticals and food fortification. One of the main market trends in beans that boost further development is the increasing popularity of plant-based protein.
Asia Pacific to Emerge as Key Regional Market
Asia Pacific is expected to emerge as a prominent region in the global fava beans market. It is a significant ingredient in a number of traditional foods in nations such as India and China. In India and neighboring nations, growing consumption of roasted seeds as a low-grade snack is a driving force for the region’s demand. One of the world’s most leading consumer of fava beans is China and Australia. Further, the North America fava beans market is prognosticated to grow on account of surge in awareness of lactose and gluten intolerance.
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Leading vendors in the global fava beans market are Goya Foods, Bob’s Red Mill Natural Food, Nuttee Bean Co., GrainCorp Limited, and Prairie Fava.