A recently released report by IMARC Group titled “Fava Beans Market – Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue” provides a deep insight into the global market for fava beans. Fava beans are also called broad beans and belong to the pea family which were first found to be cultivated around 10,000 years ago in the Middle East. Usually planted as a winter annual in subtropical areas, fava beans can grow in a wide variety of soil types but grow best in loamy soil. They serve as an important source of nutrition and are rich in protein, potassium, magnesium, selenium, iron, zinc and copper. However, protein levels in fava beans may vary depending on their variety and the environmental conditions. In comparison to most legumes, fava beans are also relatively low in fat with a good amount of dietary fibre and B-complex vitamins. Apart from nutritional benefits, fava bean also help to prevent and combat various health diseases such as Parkinson's disease and dopamine responsive dystonia disorders.
Currently, fava beans are extensively used in ready to eat foods as well as in taste and aroma enhancing products such as dips, spreads, soups, sauces, etc. Moreover, the flour and the fractions of split fava beans find applications in a variety of industries like bakery, batter and breading, beverages, meat and snack food industry. The report also cites several factors that are currently stimulating the growth of the global fava beans market. Growing health consciousness and health benefits of fava beans among the consumers have led to a rise in the global demand for fava beans. Other factors such as population growth, rising disposable incomes, adoption of healthier food habits, increasing intake of legumes and growing demand particularly in the South Asian countries such as India, Pakistan, Sri Lanka and Bangladesh are currently driving the growth of the fava beans market. Estimates by IMARC Group suggest that the global fava beans market is expected to grow at a CAGR of around 0.7% during 2016-2021, reaching a volume of 4.8 Million Tons by 2021.
The report has segmented the global fava beans market according to its key regions. Currently, China represents the largest producer of fava beans and accounts for nearly 40% of the total global production. China is followed by Ethiopia, Australia, France, Morocco, Egypt, United Kingdom, Germany, Peru and Italy. Among the top exporting countries, Australia represents the biggest exporter of fava beans accounting for more than 40% of the total global export volumes. Australia is followed by France, United Kingdom, Ethiopia, the United States, Egypt, China, Canada, Lithuania and Latvia.
This report provides a comprehensive analysis for setting up a fava beans processing plant. The study covers all the requisite aspects of the fava beans industry and provides an in-depth analysis of the market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the fava beans market in any manner.
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