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Faba Beans Market Report: In-depth Analysis and Strategic Partnerships Drive Industry Growth || Prairie Fava Ltd., Unigrain Pty Ltd., Roland Beans
Faba Beans Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the faba beans industry. This report on faba beans market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The faba beans market size has grown steadily in recent years. It will grow from $3.41 billion in 2023 to $3.51 billion in 2024 at a compound annual growth rate (CAGR) of 2.9%. The growth in the historic period can be attributed to traditional food production, microbiome and gut health, food preservation, ethnic and cultural foods, nutritional benefits. The faba beans market size is expected to see steady growth in the next few years. It will grow to $4.09 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%.
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Key Market Players:
Prairie Fava Ltd., Unigrain Pty Ltd., Roland Beans, Aviip Group, Alberta Pulse Growers Commission, Stamp Seeds Inc are prominent players in the faba beans industry.
Market Drivers:
According to the Faba Beans Market Report 2023 by The Business Research Company, the key factors driving the growth of the faba beans market, includes the increasing consumption of nutritious foods. Nutritious food refers to food items that provide essential nutrients, such as vitamins, that are necessary for the proper functioning of the human body. Faba beans primarily used in nutritious foods for their high protein, fiber, and mineral content, contributing to a balanced diet and addressing the growing demand for plant-based, sustainable protein sources. For instance, in 2022, according to a survey report by the International Food Information Council, a US-based nonprofit organization, 52% of Americans reported that they followed a diet or eating pattern, a significant increase from the past year.
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Market segments for faba beans include:
1) By Nature: Organic, Conventional
2) By End Use: Food Processing, Animal Feed, Nutraceuticals, Sports Nutrition, Infant Nutrition
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retailers, Other Distribution Channels
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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