Fava Beans Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to fava beans market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Fava Beans Market News

in Fava Beans Market
  • In May 2023, the French government launched the AlinOVeg project to support the domestic production of fava bean and pea proteins. The project signifies France's commitment to the development of plant-based protein industries through partnerships with agricultural associations as well as research and science organizations.
  • In March 2024, Canadian provinces like Saskatchewan and Alberta ramped up their efforts to encourage fava bean farming. The government supported sustainable agriculture, promoted environmentally friendly practices, and invested in research to create new fava bean varieties to satisfy both local and export markets.
  • In May 2024, Roquette launched NUTRALYS Fava S900M which is its first fava bean protein isolate on the European and North American markets. The new player in the NUTRALYS plant proteins portfolio is distinguished by its clean flavor and pale color. Formulated to increase the range of alternative protein sources for food producers, NUTRALYS Fava S900M is formulated to satisfy the demand for sustainable, healthy, and tasty plant-based foodstuffs.
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Global Fava Beans Market size was valued at USD 4.5 Billion in 2023 and is poised to grow from USD 4.7 Billion in 2024 to USD 6.9 Billion by 2032, growing at a CAGR of 4.8% during the forecast period (2025-2032).

The global fava beans market is experiencing positive growth due to strategic innovation and regional developments. The French government has initiated the AlinOVeg project supporting developments in plant proteins and particularly supporting the growth of fava beans and peas. Other firms which include Prairie Fava and BENEO are producing fava bean flours and protein isolates to their product portfolios which is meeting the growing need for plant-based alternatives. China is the leader in production because of its varied agro-climatic regions and strong logistics, whereas Australia's focus on making disease-resistant varieties has boosted its export strength. 'Prairie Fava Ltd. (Canada)', 'Unigrain Pty Ltd (Australia)', 'Roland Beans (US)', 'Alberta Pulse Growers Commission (Canada)', 'Stamp Seeds Inc. (Canada)', 'Pawnee Buttes Seed Inc. (US)', 'Archer Daniels Midland Company (ADM) (US)', 'Cargill Incorporated (US)', 'Bunge Limited (US)', 'AGT Food and Ingredients Inc. (Canada)', 'Ingredion Incorporated (US)', 'The Scoular Company (US)', 'Roquette Freres (France)', 'Grain Millers Inc. (US)', 'Best Cooking Pulses Inc. (Canada)', 'The Andersons Inc. (US)', 'Legumex Walker Inc. (Canada)'

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What Makes Asia-pacific a Leader in Fava Beans?

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Global Fava Beans Market
Fava Beans Market

Report ID: SQMIG30H2189

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