Fava Bean Market By Type (Dry Fava Beans, Fresh Fava Beans); By Application (Food Products (Snacks, Bakery and Confectionery, Plant-Based Protein, Flour and Pasta), Animal Feed, Industrial Uses, Others); By End-User (Food and Beverage Industry, Animal Feed Industry, Retail and Household Consumers, Aquaculture); By Geography (Segment revenue estimation, Forecast, 2024–2032).

The global fava bean market was USD 4.2 billion in 2023 and is anticipated to reach USD 6.9 billion by 2030, at a CAGR of 6.7% from 2024 to 2030. The expansion is fueled by consumer desire for plant protein, awareness of well-being, and consumer migration to green farming.

 

Fava beans are leguminous crops cultivated mainly because of their higher protein content and nutritional values, which make them acceptable from a culinary point of view. These products are commonly applied to food, feed, and processed foods, including sweet snacks, wheat flour, and protein-containing ingredients from plants. Fava beans are gradually being sought after worldwide because people are increasingly embracing plants as their protein source and looking for intermediate foods.

 

Fava beans, also known as broad beans, contain high fiber, iron, and vitamins, making them suitable crops for vegetarians and vegans. The market has also observed a rise in the need for animal feed, the food processing industry, and plant-based products.

 

Market Drivers

Rising Demand for Plant-Based Proteins: Consumers have shifted to vegetarian and vegan diets globally, leading to the high demand for plant-based products such as fava beans. Fava beans prepare plant-based meats, protein concentrate/meal, and plant-based milk and cheese products for nutraceutical, health-conscious, and eco-conscious consumers. Example: The global plant-based protein market expanded by 12% in 2023, and fava beans were identified as the critical components for plant-based meat makers like Beyond Meat and Impossible Foods.

 

Growing Awareness of Health Benefits: Fava beans are protein-rich, having dietary fiber and iron besides antioxidants, which makes them fit for healthy diets. The beans assist in regulating cholesterol levels and digestion and are products free from gluten, which appeals to a group of consumers with special dietary needs. Example: According to a survey on health trends In Europe, 25% of consumers consumed fava beans in 2023 since they are rich in protein and have low-fat content. It was especially common among athletes and those who follow a fitness program actively.

 

Increasing Applications in Food and Feed: Due to their utility, fava beans can be utilized in flour, protein isolates, snack bars, and animal feed. Due to their low cost and high nutrient value, fava beans are also being applied in aquaculture feed due to the increasing livestock and aqua farming industries. Example: In 2023, livestock growers in Australia used fava beans to replace 15% of soybean meal in the feed formulation and equally improved animal health and production without incurring higher costs.

 

Market Opportunities

Growing Demand for Gluten-Free Products: Due to increased incidences of gluten intolerance and celiac disease, there is a growing consumption of gluten-free products. The latest on gluten-free fava bean flour is a notable application in baking, pasta production, and snacks. Example: North America: In 2023, Gluten-Free Fava Bean Flour recorded an 18% rise, resulting from consumers’ preference for foods made from fava bean flour rather than wheat flour substitutes.

 

Expanding Role in Plant-Based Meat Alternatives: New-generation plant-based food manufacturing uses fava beans to formulate meatless products because of the mild taste, protein, and texture. Development in processing technology has ensured fava beans are suitable for plant-based meat products. Example: In Germany, a startup added fava bean-based burger patties in 2023 and achieved 10% of the market share within six months of the vegan protein market.

 

Use in Animal Feed and Aquafeed: Fava beans are commonly used as an alternative to conventional protein sources like soybean meal in livestock and aquaculture feeds. They are cheaper, renewable, and have high nutritional value through their supply of amino acids for animals. Example: A large fish farming company in Northern Europe reduced feed costs by 15% in 2023 after migrating its salmon feed to include fava beans.

 

Market Restraints

Competition from Other Pulses and Protein Sources: Other pulses, such as chickpeas, fava beans, lentils, and soybeans, are stiffly competing. These are used widely in food, feed, and industrial markets, and their existence can constrain the cultivation of fava beans. Example: Globally, chickpeas and soybeans constitute over 60% of the market share of plant protein products that have replaced fava beans.

 

Limited Consumer Awareness: While fava beans are packed with nutrition, there is still little consumer knowledge regarding them in some parts of the globe, especially in the developing world. This, in turn, limits market and demand. Example: Across the Southeast Asian countries, consumers’ awareness of fava beans and their health perspective and multiple usage were measured at a slightly higher 30 percent.

 

Market Segmentation

By Type

• Dry Fava Beans

• Fresh Fava Beans

By Application

• Food Products

  • Snacks

  • Bakery and Confectionery

  • Plant-Based Protein

  • Flour and Pasta

• Animal Feed

• Industrial Uses

• Others

By End-User

• Food and Beverage Industry

• Animal Feed Industry

• Retail and Household Consumers

• Aquaculture

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

 

Regional Analysis

North America occupies a large share of the demand for plant-based protein, gluten-free products, and environmentally friendly agriculture. The United States and Canada are the two primary producers and consumers of fava beans. As of 2023, farmers from Canada yielded more than 200,000 metric tonnes of fava beans, and they have been employing many of them for food and nutritional purposes as well as for feed.

 

Europe accounts for a significant share of the fava bean market as it has a huge demand for vegan diets and supports organic farming. Germany, France, and the U.K. are among the nations committing resources to domestic cultivating fava beans, mainly to reduce soybean imports. Example: In France, fava beans were incorporated into the programs of the Ministry of Agriculture, and thus, fava bean agriculture increased by 15% in 2023.

 

Asia-Pacific is the fastest-growing market due to the growth in demand for cheap protein sources, government support for pulse production, and shifting preference for plant protein. For example, Favas are used traditionally in China, and production expanded by 10% in 2023 to satisfy domestic consumption.

 

Key Players

• ADM (Archer Daniels Midland)

• AGT Food and Ingredients

• BroadGrain Commodities Inc.

• The Scoular Company

• Viterra Inc.

• Louis Dreyfus Company (LDC)

• Cargill, Inc.

• NORDIC Grain Oy

• Bayer CropScience

• United Pulse Trading

 

Future Outlook

The market for Fava Beans is expected to grow positively due to the rising trend of consuming plant-based protein, organic farming, and its use in various food products. Opportunities are based on expanding production and increasing consumers' knowledge in emerging markets such as Asia-Pacific, Africa, and Latin America.

 

In addition, an exponential impact from innovation in food processing, gluten-free food, and plant-based proteins by 2030 will further drive the market. They project that fava beans will meet future global protein needs due to this crop’s ability to supply dietary protein for human food and animal feed.