Faba Beans Market: Introduction
A recent study published by Transparency Market Research on the global faba beans market covers global industry analysis and opportunity assessment for 2020-2030. The complete revenue generated from the global faba beans market is estimated to be ~US$ 52.3 Mn in 2020 that is anticipated to surge at a CAGR of 4.2%, to reach ~US$ 79 Mn by 2030.
Despite losing its popularity over the past century, faba beans are gradually making a comeback. Increasing awareness pertaining to the benefits of consuming faba beans, growing demand for natural and plant-based proteins, evolving consumer behavior, and rising interest in faba beans from the nutraceutical sector are some of the key drivers expected to augment the growth of the global faba beans market during the forecast period.
The shift from traditional manual agricultural practices to the adoption of automated and modern agricultural equipment and techniques has resulted in a higher yield value, improvement in the quality of faba beans, and several other benefits, which is anticipated to bolster the expansion of the global faba beans market during the assessment period.
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Rising Demand for Faba Beans in Aquaculture and Animal Feed
Aquaculture is one of the fastest growing sectors; cultivators of the aquaculture are looking for healthy and nutritive aqua feed products. In addition, various feedstock producers are focusing on the procurement of healthy diet to feed their livestock. Pulses are a cherished stock feed, owing to their high protein content and palatability, and are used as supplements for livestock.
Faba bean is highly digestible in nature and is a metabolisable source of energy for poultry, ruminants, and swine. Faba beans and other legumes eradicate deficits in dry feed or cereal stubbles superior than grains. These are key factors responsible for the rising demand for faba beans in aquaculture, poultry, horse, and swine feed industries, as protein source are also used as substitute to fishmeal, soybean meal, or other animal protein supplements.
Faba Beans Market: Players
- Key manufacturers operating in the global faba beans market,
- as profiled in the study
- include BI Nutraceuticals
- Alberta Pulse Growers
- Prairie Fava.
- Puris Proteins, LLC.
- Dunns (Long Sutton) Limited
Use of Faba Beans as Flavor Enhancer and Moisture Retainer
Faba beans are estimated to witness remarkable growth in use in food, beverages, animal feed, and pet food products, as they improve flavors and texture. Moreover, faba beans are used to enhance moisture retention in meat products to improve taste and avoid shrinking of meat. Hence, it is likely to be used to enhance meat product texture. Moreover, faba beans act as a natural alternative to fat and are free from cholesterol.
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Thus, they are highly used as hydrolyzed protein in a range of processed food products such as sauces, dressings, soups, seasoned snack food, breakfast cereals, meat products, and meat alternative products. Therefore, with the rising demand for processed meat and meat alternative products with added nutritive contents along with tempting food traits, faba beans producers are anticipated to witness considerable growth in food processing segment during the forecast period.
Key Questions Answered in TMR’s Faba Beans Market Report
- Which region will continue to remain the most profitable regional market for faba beans market players?
- Which factors will induce a change in the demand for faba beans during the assessment period?
- How will the changing trends impact the faba beans market?
- How can market players capitalize on low-hanging opportunities in the faba beans market in developed regions?
- Which companies are leading the faba beans market?
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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