Dried shelled broad and horse beans market in Latin America and the Caribbean

Earlier Report Observations

Between 2018 and 2023, the market volume for dried shelled broad and horse beans in Latin America and the Caribbean fluctuated, starting at 221.9 thousand tons, peaking at 229.4 thousand tons in 2020, and then gradually declining to 212.1 thousand tons by 2023.

During 2023, major manufacturers accelerated innovation and expansion strategies, with over half investing in improved milling technologies to enhance flour texture and purity. This drove a 35% increase in the use of fava bean flour in convenience foods, while new ready-to-eat meal launches featuring the beans as a primary ingredient grew by more than 33%, targeting health-conscious consumers.

By 2024, the market saw a strengthened focus on plant-based proteins, exemplified by AGT Foods expanding its bean processing capacity to meet North American and European demand. The fava bean flour segment dominated with a 72.5% revenue share, fueled by rising health awareness. In Mexico, key producing states like Jalisco boosted exports to the United States, supported by sustainable cultivation programs that favor nitrogen-fixing legume systems.

Production dried shelled broad and horse beans in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of dried shelled broad and horse beans, 2017-2020

World map of production of dried shelled broad and horse beans, 2017-2020

In Latin America and the Caribbean, production of dried shelled broad and horse beans reached 233.2 thousand tonnes in 2020, marking a 6.2% increase from the previous year. Over the 2017-2020 period, production grew by 10.7%, with an average annual growth rate of 3.4%. The most significant decline occurred in 2019, when production fell by 1.6%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

Exports dried shelled broad and horse beans from Latin America and the Caribbean

Exports in kind, t

Export volumes showed irregular fluctuations, reflecting a volatile market environment. Exports reached their lowest point in 2018 at 1 979 tonnes, then surged to a peak of 6 971 tonnes in 2020, representing a 3.5-fold increase between these years. In 2020, exports rose by 51.7% compared to 2019. The largest decline was recorded in 2018 at 19.7%, while the most substantial increase occurred in 2019 with a 132.2% jump.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

From 2017 to 2020, the United States, the United Arab Emirates, and Israel were the primary buyers of dried shelled broad and horse beans from Latin America and the Caribbean. The United States accounted for 38.6% of exports in volume, followed by the United Arab Emirates at 11.7%, and Israel at 6.8%. Together, these three markets represented 57.1% of total export volumes.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

Export values of dried shelled broad and horse beans from Latin America and the Caribbean increased for the second consecutive year. In 2020, exports reached 9 394 thousand US dollars, a 15.9% rise from the previous year. Over the 2017-2020 period, export values grew by 62.6%, with an average annual growth rate of 17.6%. The lowest value was recorded in 2018 at 5 125 thousand US dollars, which represented an 11.3% decline. The largest increase occurred in 2019 with a 58.1% surge.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

Between 2017 and 2020, the United States, the United Arab Emirates, and Israel contributed the most to export values. The United States accounted for 32.2% of exports in value terms, the United Arab Emirates for 18.3%, and Israel for 9.7%. Collectively, these three markets made up 60.2% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports dried shelled broad and horse beans to Latin America and the Caribbean

Imports in kind, t

Import volumes exhibited irregular changes, indicating a volatile market environment. Imports hit their lowest point in 2019 at 654 tonnes, then climbed to a peak of 3 229 tonnes in 2020, representing a 4.9-fold increase between these years. In 2020, imports were 393.9% higher than in 2019. The largest decline was recorded in 2018 at 59.2%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

Throughout the 2017-2020 period, China, the United States, and Morocco were the key sources for imports in volume. China accounted for 24.8% of imports, the United States for 10.9%, and Morocco for 0.8%. Together, these three countries represented 36.5% of total import volumes.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

Import values of dried shelled broad and horse beans into Latin America and the Caribbean increased for the third consecutive year. In 2020, imports totalled 3 272 thousand US dollars, showing a modest gain of 6.4% year-over-year. Between 2017 and 2020, import values rose by 102.1%, equating to an average annual growth rate of 26.4%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, three principal markets—China, the United States, and Morocco—together accounted for 54.4% of total import values of dried shelled broad and horse beans to Latin America and the Caribbean.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020