Broad Bean And Horse Bean Market

The global market for broad beans and horse beans (dry) is expected to continue an upward consumption trend over the next eight years, with forecasted growth in both market volume and value. In 2022, consumption decreased slightly but is anticipated to increase in the immediate term. Production also saw a slight decline in 2022 but has shown consistent growth over the past decade. Imports and exports of broad beans and horse beans (dry) have been on the rise, with significant increases in both volume and value. Key importing and exporting countries include Egypt, Norway, Australia, the UK, and Lithuania. Average prices for imports and exports have shown fluctuations but are expected to continue growth in the near future. Overall, the global market for broad beans and horse beans (dry) shows positive trends in consumption, production, imports, and exports, with steady growth expected in the immediate term.

Market Forecast

Driven by increasing demand for broad beans and horse beans (dry) worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market volume to 7.2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market value to $6.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Broad Beans And Horse Beans

In 2022, consumption of broad beans and horse beans (dry) decreased by -0.8% to 6M tons for the first time since 2019, thus ending a two-year rising trend. The total consumption volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, global consumption attained the maximum volume at 6M tons in 2021, and then declined in the following year.

The size of the market for broad beans and horse beans (dry) worldwide was estimated at $4.7B in 2022, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a mild increase. Over the period under review, the global market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (1.7M tons), Ethiopia (1.1M tons) and Egypt (418K tons), with a combined 54% share of global consumption. The UK, Germany, Norway, Sudan, France, Italy, Denmark, Lithuania and the Netherlands lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +44.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.8B) led the market, alone. The second position in the ranking was held by Ethiopia ($641M). It was followed by Egypt.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest. The remaining consuming countries recorded the following average annual rates of market growth: Ethiopia (+1.5% per year) and Egypt (-1.4% per year).

The countries with the highest levels of broad bean and horse bean per capita consumption in 2022 were Lithuania (40 kg per person), Norway (37 kg per person) and Denmark (20 kg per person).

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +44.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Broad Beans And Horse Beans

In 2022, production of broad beans and horse beans (dry) decreased by -1.4% to 6.2M tons for the first time since 2019, thus ending a two-year rising trend. The total output volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 13%. Global production peaked at 6.3M tons in 2021, and then shrank modestly in the following year. The general positive trend in terms output was largely conditioned by a temperate expansion of the harvested area and pronounced growth in yield figures.

In value terms, broad bean and horse bean production fell to $4.5B in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 52%. Global production peaked at $4.6B in 2021, and then declined modestly in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (1.7M tons), Ethiopia (1.1M tons) and Australia (646K tons), together accounting for 56% of global production. The UK, Germany, Lithuania, Sudan, France, Egypt, Denmark, Poland, Italy and Latvia lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +15.1%), while production for the other global leaders experienced more modest paces of growth.

Yield

The global average broad bean and horse bean yield reached 2.3 tons per ha in 2022, stabilizing at 2021. The yield figure increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when the yield increased by 14%. The global yield peaked in 2022 and is expected to retain growth in the near future.

Harvested Area

The global broad bean and horse bean harvested area declined to 2.7M ha in 2022, waning by -1.5% against 2021. Over the period under review, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 6.7% against the previous year. Over the period under review, the harvested area dedicated to broad bean and horse bean production reached the maximum at 2.8M ha in 2018; however, from 2019 to 2022, the harvested area failed to regain momentum.

Imports

World Imports of Broad Beans And Horse Beans

In 2022, approx. 1.1M tons of broad beans and horse beans (dry) were imported worldwide; picking up by 20% against the previous year. Overall, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.3% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, broad bean and horse bean imports skyrocketed to $682M in 2022. The total import value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

Egypt represented the key importing country with an import of around 372K tons, which accounted for 33% of total imports. Norway (203K tons) ranks second in terms of the total imports with an 18% share, followed by the Netherlands (8.8%), France (5.8%) and Denmark (5.3%). Italy (31K tons), Latvia (31K tons), the United Arab Emirates (27K tons), Morocco (23K tons), Sudan (19K tons) and Spain (17K tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Latvia (with a CAGR of +68.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Egypt ($286M) constitutes the largest market for imported broad beans and horse beans (dry) worldwide, comprising 42% of global imports. The second position in the ranking was held by Norway ($109M), with a 16% share of global imports. It was followed by the Netherlands, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Egypt was relatively modest. In the other countries, the average annual rates were as follows: Norway (+20.1% per year) and the Netherlands (+49.7% per year).

Import Prices By Country

The average import price for broad beans and horse beans (dry) stood at $609 per ton in 2022, rising by 6% against the previous year. In general, the import price, however, continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2019 when the average import price increased by 50% against the previous year. Over the period under review, average import prices reached the peak figure at $893 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($769 per ton), while Latvia ($353 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sudan (+0.5%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Broad Beans And Horse Beans

For the third consecutive year, the global market recorded growth in overseas shipments of broad beans and horse beans (dry), which increased by 12% to 1.4M tons in 2022. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 24% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, broad bean and horse bean exports skyrocketed to $636M in 2022. Overall, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.1% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

Australia was the main exporter of broad beans and horse beans (dry) in the world, with the volume of exports reaching 576K tons, which was approx. 42% of total exports in 2022. The UK (269K tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Lithuania (7.7%) and France (5.5%). Latvia (59K tons), Egypt (58K tons), Germany (50K tons), Denmark (44K tons) and Poland (23K tons) took a minor share of total exports.

Exports from Australia increased at an average annual rate of +6.7% from 2012 to 2022. At the same time, Latvia (+79.0%), Poland (+72.7%), Lithuania (+66.6%), Denmark (+64.4%), Germany (+31.4%), Egypt (+12.4%) and the UK (+7.5%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in the world, with a CAGR of +79.0% from 2012-2022. By contrast, France (-12.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Lithuania, Latvia, Australia, Germany, Denmark, the UK, Egypt and Poland increased by +7.6, +4.3, +3.9, +3.3, +3.2, +3.1, +2 and +1.7 percentage points, respectively.

In value terms, Australia ($249M) remains the largest broad bean and horse bean supplier worldwide, comprising 39% of global exports. The second position in the ranking was taken by the UK ($113M), with an 18% share of global exports. It was followed by Lithuania, with a 6.5% share.

In Australia, broad bean and horse bean exports expanded at an average annual rate of +4.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the UK (+5.3% per year) and Lithuania (+63.2% per year).

Export Prices By Country

The average export price for broad beans and horse beans (dry) stood at $468 per ton in 2022, rising by 17% against the previous year. Overall, the export price, however, showed a slight slump. The growth pace was the most rapid in 2019 an increase of 33%. The global export price peaked at $574 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Egypt ($561 per ton) and Poland ($512 per ton), while Lithuania ($393 per ton) and Latvia ($400 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+0.8%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform