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Upgraded Formulation Aiding Fava Bean Protein Digestibility & Absorption to Amplify Demand Growth, States Fact.MR

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United States, Rockville MD, June 14, 2022 (GLOBE NEWSWIRE) — According to a recently published report by Fact.MR, a market research and competitive intelligence provider, the global fava bean protein market is estimated at US$ 56.7 million in 2022. The market is predicted to expand at a healthy CAGR of 4.2% during the forecast years 2022-2032. Over the 2017-2021 historical period, worldwide fava bean protein consumption registered a CAGR of 2.2%.

The gradual shift from meat or dairy-based protein toward plant-based protein ingredients is a key factor driving the consumption of fava bean proteins. To generate more popularity, manufacturers are upgrading fava bean protein formulations by adapting innovative ways to extract and process the final product. Additionally, varied processes have been endeavoured to standardize fava bean protein’s bioaccessibility and digestibility. Consequently, enhanced fava bean protein quality will drive its penetration across regions.

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Apart from this, intensifying veganism across the world owing to rising awareness about healthy vegan diets and high digestibility is also one of the supporting factors that will propel the adoption and consumption of fava bean proteins going forward.

How is the Faba Bean Protein Market Poised?
“Plant-based Protein Market to Be Revolutionized by Fava Beans”

The ever-evolving plant-based protein market is encouraging the utilization of unusual plant-based proteins such as fava bean protein as a rich source of protein.

Fava bean proteins are a preferable choice for manufacturers because of their low cost. Market leaders are aiming to diversify their protein portfolio by reinstating innovative sources such as fava bean. Additionally, nowadays, consumers are inclining towards pulses for higher health benefits, which opens the gate for fava bean protein to revolutionize the plant-based protein industry.

Why is the U.S. a Prominent Fava Bean Protein Market?
The U.S. is a prominent consumer of fava bean proteins. It is anticipated to account for 87.7% of the market share in the North American region and 35% of the global market share by 2032.

The influence of social media and high fitness standards are driving mindful eating in the country. Several government regulations and guidelines are also driving health awareness in the U.S., thereby driving the consumption of fava bean protein products.

To learn more about Faba Bean Protein Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=4929

Key Segments Covered in the Fava Bean Protein Industry Survey

  • By Product Type :
    • Protein Isolates
    • Protein Concentrates
    • Flour
    • Other Product Types
  • By Nature :
    • Organic Fava Bean Protein
    • Conventional Fava Bean Protein
  • By End Use :
    • Food Processing
      • Bakery & Confectionery
      • Meat Alternatives
      • Functional Foods
      • Dairy Replacements
      • Infant Foods
      • Other Food Applications
    • Animal Feed
    • Nutraceuticals
    • Sports Nutrition
    • Infant Nutrition
  • By Processing Type :
    • Dry Processing
    • Wet Processing

Competitive Landscape

Key industry leaders are predominantly taking efforts to bring innovation in fava bean protein products, for which, they are investing in developing R&D facilities. Some inorganic strategies such as mergers, acquisitions, and joint ventures are also supporting geographical expansion as well as the building of production facilities for several manufacturers.

For instance:

  • In November 2021, AGT Foods, a key leader in the fava bean protein market, entered into a partnership with dairy ingredient supplier Friesland Campina, to launch a new product – Plantaris Fava Isolate 90 A.
  • In December 2019, Roquette Freres, a market leader in the plant-based protein market, announced the expansion of its plant-based protein portfolio by launching a new textured fava bean protein NUTRALYS® TF-C.

Get Customization on Faba Bean Protein Market Report for Specific Research Solutions
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Key players in the Fava Bean Protein Market

  • AGT Food and Ingredients
  • Ingredion Inc.
  • Roquette Freres
  • Prairie Fava
  • Puris Proteins LLC
  • Vestkorn Milling AS
  • Australian Plant Protein

Key Takeaways from Fava Bean Protein Market Study

  • The global fava bean protein market is projected to expand at a steady CAGR of 4.2% to be valued at US$ 85.6 million by 2032.
  • Under product type segment, protein isolates dominate the market and are valued at US$ 26.1 million in 2022.
  • North America dominated the global market by holding 38.5% market share in 2021, which is estimated to rise to 39.9% by the end of 2032.
  • Together, North America and Europe are likely to represent 69.3% of the overall market share in 2022.
  • Based on region, demand for fava bean proteins is expected to increase at CAGRs of 4.5% and 2.7% in North America and Europe, respectively, over the forecast period.

Fact.MR’s Domain Knowledge in Food & Beverage Division

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food and beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs.

With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the food and beverage domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.

Explore Fact.MR’s Coverage on the Food & Beverage Domain-

Snacks MarketGlobal demand for snacks is expected to proliferate at a CAGR of 6.5% from 2021 to 2031, according to a recently published study by Fact.MR. By the end of the aforementioned forecast period, the market is likely to be valued at US$ 751 Bn, with consumer inclining towards organic snacks consumption. By 2021-end, demand for snacks is expected to reach US$ 400 Bn.

Palm Oil MarketGlobal palm oil market size in 2022 is expected to top nearly US$ 33 Bn. As per the report, palm oil market revenues are anticipated to grow 1.5x to reach nearly US$ 50 Bn by 2031, experiencing a compounded annual growth rate (CAGR) of nearly 5%.

Soybean Oil Market– The global sales of soybean oil are expected to grow moderately in 2021 with sales of just over 57 Mn tons in 2020. While Fact.MR still expects the market for soybean oil to grow slightly, however, the decade long compound annual growth rate (CAGR) remains positive at 5%.

Rapeseed Oil Market– The rapeseed oil sales are expected to be valued at nearly US$ 17 Bn by 2021. Long-term projections appear more positive, with the market for rapeseed oil will reach US$ 32 Bn, growing at a CAGR surpassing 6% from 2020 to 2031.

Energy Drinks Market– The global demand for energy drinks will increase positively in 2021, surpassing US$ 35 Bn. Driven by the rise in health consciousness, as well as changes in consumer lifestyle and increased awareness of health wellness goods, the market is expected to register growth at a CAGR of approximately 8% by 2031.

Sports Nutrition Market– The global sports nutrition market report indicates that sales of overall sports nutrition enjoyed year-on-year (YoY) growth of 5.3% in 2021. Fact.MR estimates that the sports nutrition market accounted for US$ 15.8 Bn in 2021, and is expected to witness a prominent CAGR of 7.9% over the decade.

In-Flight Catering Market– The global In-flight catering market exceeding a valuation of around USD 7.3 billion by 2021, and it is projected to reach USD 13.7 billion by 2031, registering a CAGR of 6.5% during the forecast period 2021-2031.

Non-Alcoholic Beer Market– The non-alcoholic beer industry is expected to witness soaring growth, expected to surpass US$ 28 Bn in by 2031, with a decade long compounded annual growth rate (CAGR) of 7% across the forecast period.

Commercial Seaweed Market– The global seaweed market was worth over US$ 10 Bn in 2020 and is predicted to exceed US$ 15 Bn by the end of the forecast period (2021-2031). Extensive applications of seaweed in pharmaceuticals, nutraceuticals, antimicrobial goods, and biotechnological applications is primarily steering growth across the market.

CBD Gummies Market– Fact.MR- a market research and competitive intelligence provider- expects the global CBD gummies market to surge exponentially at a prolific 28% CAGR throughout the 2021-2031 forecast period. Increasing drives to legalize cannabis for recreational and medical purposes is acting as the primary growth lever for the market.

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