Canned Beans Market Insights: Top Companies, Demand, and Forecast to 2032.
Market Scope
Canned Beans Market Size was valued at USD 0.7 Billion in 2022. The canned beans market industry is projected to grow from USD 0.729 Billion in 2023 to USD 1.0136 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.20% during the forecast period (2023 - 2032).
Canned beans Market insights offer a convenient and nutritious solution to busy modern lifestyles. These shelf-stable legumes are not only a time-saver in the kitchen but also provide a rich source of plant-based protein, fiber, and essential nutrients. They can be easily incorporated into various recipes, from hearty chili to colorful salads, making them a versatile pantry staple that promotes both culinary creativity and health-conscious choices. Additionally, their long shelf life reduces food waste, making them an environmentally-friendly option for households seeking sustainable alternatives.
Top Boosters and Key Restraints
Evolving taste of consumers with surging interest in vegan food items for use in different cuisines, given the high content of fiber and proteins, can favor the canned beans industry in subsequent years. Beans are considered as a healthy and delicious food product that has become predominantly popular among the fitness-conscious population.
Consumption, as well as sales of canned beans, have been going up, owing to their rich nutritional features, and savory taste. In the past few years, the canned beans market has witnessed a drastic shift owing to the escalating production rate along with the high price competition as well as rising use of advanced and modern manufacturing technologies.
Players active in the worldwide market are highly focused on boosting their position across numerous regions while reaching out to more consumers. With the rise in people’s income levels, particularly in developing countries and the surging knowledge level regarding healthy food, brands are presented with various lucrative opportunities. Moreover, the convenience of storage and handling canned beans propels the industry’s growth potential.
Segmental Review
The canned beans industry has been considered for types, category and distribution channel.
The different types of canned beans are Kidney Beans, Navy Beans, Pinto Beans, Garbanzo Beans, and more. Garbanzo beans, or chickpeas, are the most consumed types of canned beans, as these contain high protein content and have a buttery flavor as well as a nutty texture. These are primarily used to prepare salads, curries, and various local dishes across the Middle East, South Asia and Europe. Chickpeas are one of the most popular vegan food products since these are have high content of proteins as well as fibers.
The categories of canned beans are organic and conventional. Conventionally developed beans are heading the market at present, since these are the most available types. But on the other hand, the demand for organic canned beans has been surging at an extremely fast rate. However, the supply of organic canned beans is much lower compared to the demand.
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The distribution channels are store-based along with non-store based. The store-based segment can be segregated into convenience stores, supermarkets and hypermarkets, and others. Store-based channels are dominating the worldwide market given their higher customer reach. They are in closer contact to the consumers, catering to almost every demand. On the other hand, the supermarket segment shall witness fast growth due to promotions as well as in-store that these offer.
Regional Insight
Europe is currently the leading market for canned beans, thanks to the surging preference for a variety of canned food products including canned beans owing to their high nutritional profile as well as extended shelf life. The market growth in the region is further bolstered by the significant disposable income of the consumers and the substantial demand for high-quality products. On top of this, the escalating adoption rate of vegetarian and vegan food habits among people cements the region’s position as the market leader.
Asia Pacific will be the fastest progressing market, given the rising preference for vegan and vegetarian diet among consumers, with particularly high demand for canned beans. The surging focus on managing post-harvest loss and in-value addition will also propel the market growth in the years to come.
The Americas accounts for a substantial share of the worldwide market. The rising consumer dependence and preference for packaged food items is likely to foster the demand for canned beans.
The canned beans market outlook remains positive, with consumers increasingly valuing their convenience, long shelf life, and nutritional benefits. As dietary preferences shift towards plant-based and healthy eating, canned beans continue to serve as a versatile and affordable source of protein, fiber, and essential nutrients. Additionally, the ongoing focus on sustainability and reduced food waste aligns well with the extended shelf life of canned beans, making them a staple in many households and a valuable ingredient for both traditional and innovative recipes.
Prominent Companies
H. J. Heinz Company (US), Grandma Brown's Beans Inc. (US), Bush Brothers & Company (US), B&G Foods, Inc. (US), ConAgra Foods, Inc. (US), Del Monte Foods (US), American Garden (US), Windmill Organics Limited (UK), Bonduelle (France), and Epicure (UK).
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