Fava Beans Market Report 2024 (Global Edition)

Global Fava Beans Market Report 2024 Market Size Split by Type (Fresh, Frozen, Pod, Organic, Others), by Application (Animal Feed, Human Nutrition), by Distribution Channel (Supermarket/Hypermarket, G...

Fava Beans Market Report Description

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Competitive Landscape of the Fava Beans Market

Fava bean enterprises actively cultivate and farm fava beans. They constantly invest in agricultural strategies to increase yields, improve crop quality, and ensure long-term farming methods. They are also expanding their product options beyond conventional fava bean variations, such as fava bean snacks, spreads, and fava-based protein products, to cater to a wide range of consumer preferences. Aside from that, they employ stringent testing and quality control procedures at every stage of production to ensure the safety and quality of their products.

Fava Beans Industry News

In January 2023, Tesco PLC, a British multinational retailer, collaborated with fava bean processor AB Mauri and its own-brand suppliers, including ready meal producer Samworth Brothers, to test the fava bean in various product lines and ingredients. This will enhance demand in the United Kingdom. 

(Source: https://www.fruitnet.com/fresh-produce-journal/tesco-has-grand-plans-for-fava-beans/248107.article)

In September 2021, Verso Food, a Finnish firm that manufactures faba bean products, purchased Raisio Food Solutions for an unknown sum. Verso Food's acquisition intends to strengthen its position in the fava bean sector. Raisio Food Solutions is a Finland-based firm that specializes in healthy foods.

(Source: https://www.just-food.com/news/raisio-acquires-beanit-owner-verso-food/)

Top Companies Market Share in Fava Beans Industry: (In no particular order of Rank)

• Prairie Fava Ltd.
• Unigrain Pty Ltd.
• Roland Beans
• Aviip Group
• Alberta Pulse Growers Commission
• Stamp Seeds Inc.
• Pawnee Buttes Seed Inc.
• Archer Daniels Midland Company
• Cargill Incorporated
• Bunge Limited
• AGT Food and Ingredients Inc.
• Ingredion Incorporated
• SunOpta Inc.
• The Scoular Company
• Roquette Frères
• Verdient Foods Inc.
• Grain Millers Inc.
• Best Cooking Pulses Inc.
• The Andersons Inc.
• Legumex Walker Inc.
• Bonduelle Group
• Dakota Dry Bean Inc.
• Nordic Foods Inc.
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In terms of revenue, the North America Fava Bean Market share was 40% of the total marke

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. A growing interest in sustainable agriculture and plant-based nutrition drives the fava bean market in North America. Individuals' health-conscious diet choices in the United States have resulted in a diverse client base for fava beans. The increased popularity of Mediterranean diets has impacted fava bean consumption in this region. Organic and non-GMO fava bean varieties are in high demand, with several start-ups and established businesses investing in product innovation and marketing techniques highlighting the health and environmental benefits of fava beans.

The Asia Pacific region is witnessing an increase in the sales of reagents. The Asia Pacific area, particularly China and India, exhibits robust changes in the fava bean landscape due to their large population and shifting eating habits. In China and India, demand is fueled by traditional cuisine incorporating fava beans and a growing awareness of plant-based proteins among the middle class. There has been an increase in investments in food technology and developments in fava bean products, with China holding important patents relating to fava bean processing and meat substitute uses.

The current report Scope analyzes Fava Beans Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Fava Beans Market

According to Cognitive Market Research, the global fava beans market size was estimated at USD 2951.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1180.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 0.5% from 2024 to 2031. The future of the North American fava bean market appears bright. The market is likely to expand with increasing consumer interest in healthy and sustainable foods and industry innovation. Consumers increasingly seek nutritional and sustainable food options; fava beans suit the criteria wonderfully. They contain protein, fiber, and essential minerals such as iron and calcium. The rise of veganism and vegetarianism is increasing the demand for plant-based protein sources. Fava beans are a potential meat and dairy substitute with a neutral flavor and adaptability in preparation. Human nutrition in North America is intricately tied to the expanding fava beans market. Consumers increasingly seek nutritional and sustainable food options; fava beans suit the criteria wonderfully, driving sales in application types. 

• According to Cognitive Market Research, the US had a major share in the fava beans market with a market size of USD 931.40 million in 2024, and it is projected to grow at a CAGR of 0.3% during the forecast period. The US fava bean market is anticipated to rise steadily in the upcoming years due to rising customer desire for wholesome, nutrient-dense foods.
• The Canadian fava beans market had a market share of USD 141.66 million in 2024 and is projected to grow at a CAGR of 1.3% during the forecast period. Growing interest in plant-based proteins and sustainable agriculture could propel the fava bean market in Canada.
• The Mexico fava beans market is projected to grow at a CAGR of 1.0% during the forecast period, with a market size of USD 107.42 million in 2024.

Europe Fava Beans Market

Cognitive Market Research shows a market value of USD 2951.2 million in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 0.8% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 885.36 million. Promoting sustainable agricultural techniques is a top priority for the European Union. As a result, there is more encouragement for the production of pulses, such as fava beans. Research and development expenditures for novel fava bean types and products are rising. This makes fava beans more appealing to consumers and food makers by enhancing their yield, quality, and taste. Human nutrition application is expected to grow as fava beans are becoming more and more popular as people choose vegetarian and vegan diets. This is because they have a high protein content—roughly 25%. They make a healthy substitute for meat and other animal protein derived from animals.

• The United Kingdom's fava beans market had a market share of USD 148.74 million in 2024 and is projected to grow at a CAGR of 1.6% during the forecast period. The food sector and the UK government fund research and development of fava beans. This is assisting in the development of novel and consumer-pleasing products.
• The French fava beans market is projected to grow at a CAGR of 0.0% during the forecast period, with a market size of USD 81.45 million in 2024.
• According to Cognitive Market Research, the German fava beans market size was valued at USD 175.30 million in 2024 and is projected to grow at a CAGR of 1.0% during the forecast period. Fava bean farming is one of the sustainable agricultural practices the German government encourages. This is contributing to the nation's increased fava bean supply.
• The Italian fava beans market is projected to grow at a CAGR of 0.2% during the forecast period, with a market size of USD 76.14 million in 2024.
• The Russian fava beans market is projected to grow at a CAGR of -0.2% during the forecast period, with a market size of USD 137.23 million in 2024.
• The Spanish fava beans market is projected to grow at a CAGR of -0.1% during the forecast period, with a market size of USD 72.60 million in 2024.
• The Luxembourg fava beans market is projected to grow at a CAGR of 0.9% during the forecast period, with a market size of USD 27.45 million in 2024.
• The Portuguese fava beans market is projected to grow at a CAGR of 0.6% during the forecast period, with a market size of USD 18.59 million in 2024.
• The Greece fava beans market is projected to grow at a CAGR of 1.1% during the forecast period, with a market size of USD 10.62 million in 2024.
• The rest of Europe's fava beans market is projected to grow at a CAGR of -0.5% during the forecast period, with a market size of USD 137.23 million in 2024.

Asia Pacific Fava Beans Market

According to Cognitive Market Research, the global fava beans market size was estimated at USD 2951.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 678.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. A common dietary item in several Asian nations, including China, India, and Myanmar, is fava beans. They are utilized in many classic recipes, including ful medames and falafel. The world's greatest population is in the Asia Pacific region, which means there is a sizable potential market for fava beans. Although they may be produced in many different regions, fava beans prefer warm, humid climes, prevalent throughout much of Asia Pacific. Additionally, some governments in the area—like China's—are encouraging farmers to cultivate fava beans, contributing to increased production.

• According to Cognitive Market Research, the size of the Chinese fava beans market was valued at USD 305.45 million in 2024 and is projected to grow at a CAGR of 3.8% during the forecast period. China's fava bean market is anticipated to expand over the next several years due to growing customer demand and acceptance of healthful eating.
• The Japan fava beans market is projected to grow at a CAGR of 2.8% during the forecast period, with a market size of USD 93.67 million in 2024.
• The India fava beans market had a market share of USD 81.45 million in 2024 and is projected to grow at a CAGR of 6.1% during the forecast period. Although the consumption of fava beans is currently small in India, it is steadily rising. Usually eaten dry or split, the beans are utilized in full medames and falafel recipes.
• The South Korean fava beans market is projected to grow at a CAGR of 3.4% during the forecast period, with a market size of USD 67.88 million in 2024.
• The Australian fava beans market is projected to grow at a CAGR of 4.0% during the forecast period, with a market size of USD 35.30 million in 2024.
• The Southeast East Asia fava beans market is projected to grow at a CAGR of 5.3% during the forecast period, with a market size of USD 46.84 million in 2024.
• The Rest of the Asia Pacific fava beans market is projected to grow at a CAGR of 4.1% during the forecast period, with a market size of USD 48.19 million in 2024.

South America Fava Beans Market

According to Cognitive Market Research, the global Fava beans market size was estimated at USD 2951.2 Million, out of which Latin America market of more than 5% of the global revenue with a market size of USD 147.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.7% from 2024 to 2031. Producers, processors, and food companies have a lot of intriguing potential in the Latin American fava bean industry. The area may greatly impact the global fava bean market by tackling the issues and taking advantage of the rising demand for sustainable and healthful protein sources. The market for fava beans used in human nutrition in Latin America is anticipated to expand rapidly in the upcoming years. The rising interest in plant-based protein and the expanding knowledge of the health advantages of fava beans are probably driving this expansion.

• According to Cognitive Market Research, Brazil's fava beans market size was valued at USD 63.16 million in 2024 and is projected to grow at a CAGR of 2.3% during the forecast period. In many civilizations worldwide, fava beans are a staple diet; their popularity is growing in Brazil.
• The Argentina fava beans market had a share of USD 24.79 million in 2024 and is projected to grow at a CAGR of 2.6% during the forecast period. Fava beans, sometimes called broad beans, are produced and exported in large quantities by Argentina. It is the world's second-largest producer of fava beans, surpassed only by China.
• The Colombia fava beans market is projected to grow at a CAGR of 1.5% during the forecast period, with a market size of USD 13.13 million in 2024.
• The Peru fava beans market is projected to grow at a CAGR of 1.9% during the forecast period with a market size of USD 12.10 million in 2024.
• The Chile fava beans market is projected to grow at a CAGR of 2.0% during the forecast period, with a market size of USD 10.62 million in 2024.
• The Rest of the Latin America fava beans market is projected to grow at a CAGR of 0.8% during the forecast period, with a market size of USD 23.76 million in 2024.

Middle East and Africa Fava Beans Market

According to Cognitive Market Research, the global fava beans market size was estimated at USD 2951.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 59.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.0% from 2024 to 2031. The Middle East and Africa region is predicted to be one of the fastest-growing markets for fava beans, owing to rising population, rising disposable incomes, and increased knowledge of fava beans' health advantages. In the region, fava beans are primarily used for human consumption (as a pulse or flour), animal feed, and industrial use. The fava bean market in the Middle East and Africa is predicted to expand rapidly in the next years. The growing need for plant-based protein, expanding urbanization, and government initiatives are projected to be the primary drivers of this expansion.

• According to Cognitive Market Research, the GCC Countries' fava beans market size was valued at USD 25.26 million in 2024 and is projected to grow at a CAGR of 2.8% during the forecast period. GCC countries produce a small amount of fava beans, with Saudi Arabia being the largest producer, followed by the UAE and Qatar.
• The Egyptian fava beans market is projected to grow at a CAGR of 2.3% during the forecast period, with a market size of USD 6.20 million in 2024.
• The South African fava beans market is projected to grow at a CAGR of 3.0% during the forecast period, with a market size of USD 9.33 million in 2024. South Africa's fava bean market is tiny compared to other major producers and consumers of the crop. However, it has demonstrated the potential for expansion in recent years.
• The Turkish fava beans market is projected to grow at a CAGR of 1.5% during the forecast period, with a market size of USD 5.08 million in 2024.
• The Nigeria fava beans market is projected to grow at a CAGR of 1.1% during the forecast period, with a market size of USD 6.20 million in 2024.
• The Rest of the MEA fava beans market is projected to grow at a CAGR of 1.0% during the forecast period, with a market size of USD 6.96 million in 2024.

Fava Beans Market Analysis

Fava Beans Market Type Segment Analysis

According to Cognitive Market Research, fresh beans held the major market share over the forecast period. Comparing fresh fava beans to other legumes like lentils or chickpeas, the market for them is smaller and more seasonal. Fresh favas are becoming increasingly popular in the kitchen because of their distinct flavor and adaptability. Fresh fava beans are in high demand across Europe and the Middle East, where they are a common addition to regional cuisine. Although it is currently quite modest, the fresh fava bean market in the United States is expanding. Purchasing directly from farmers at farmers' markets or through community-supported agriculture (CSA) initiatives is becoming increasingly common.

Organic is the fastest-growing category over the forecast period. Due to their perception that organic products are healthier and more sustainable, consumers are becoming more interested in buying them. This trend is anticipated to continue in the upcoming years, propelling the market for organic fava beans to increase. As more people explore ways to reduce their intake of animal products, plant-based diets are growing in popularity. Fava beans are a popular option for vegans and vegetarians since they are high in fiber and protein.

• Fresh
• Frozen
• Pod
• Organic
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Fava Beans Industry. Request a Free Sample PDF!

Fava Beans Market Application Segment Analysis

According to Cognitive Market Research, human nutrition holds a prominent market share. Due to their high nutritious content, wide beans are becoming increasingly in demand as vegetarianism and the trend toward healthier eating gain traction. As the consumption trend shifts from processed meat to plant-based proteins, increasing the inclusion of these beans in the normal diet is anticipated to raise demand for fava beans.

Animal nutrition is the fastest-growing category over the forecast period. The existence of anti-nutritional elements restricted the use of fava beans in animal feed. However, its presence has diminished due to plant breeding and feed processing technology advances. Although the amount of fava beans in animal feed varies depending on the type and age of the animal, they are mainly employed in the diets of pigs and poultry.

• Animal Feed
• Human Nutrition

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Fava Beans Distribution Channel Segment Analysis

According to Cognitive Market Research, supermarket/hypermarket holds a prominent market share. One important avenue for the sale of fava beans is supermarkets and hypermarkets. They provide an extensive range of fava bean goods, including pasta and flour made from fava beans and dried, tinned, and fresh beans. Supermarkets and hypermarkets also provide a range of ethnic delicacies like hummus and falafel made using fava beans. Supermarkets and hypermarkets have the potential to contribute to this increase by providing a greater range of fava bean products, informing customers about the advantages of fava beans, and lowering their prices.

E-commerce platforms are the fastest-growing category over the forecast period. The online channel has grown significantly in popularity over the past several years among customers who favor convenience and mobile purchasing. Online retailers like Amazon sell many fava beans, including whole, unpeeled, and cooked beans. Fava beans are a popular snack in the Asia-Pacific region, where the trend is growing.

• Supermarket/Hypermarket
• Grocery Stores
• E-commerce Platform
• Others

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

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I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

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