- Summary
- Table Of Content
- Methodology
Canned Beans Market Introduction :
Consegic Business Intelligence analyzes that the Global Canned Beans Market size is growing with a CAGR of 5.8% during the forecast period (2023-2031), and the market is projected to be valued at USD 4,326.55 Million by 2031 and USD 2,764.27 Million in 2023 from USD 2,622.73 Million in 2022.
Canned Beans Market Definition & Overview:
Canned beans are defined as a type of beans which are preserved in cans and rich in sodium content. These beans are considered a popular choice as a convenient food option as they are used to prepare food items such as hummus, salads, stews chili, among others. They are a good source of healthy pantry staple. These beans provide protein, fiber, folate, and various minerals, including iron, magnesium, potassium, and zinc.
They are highly popular in convenient food segments owing to their high nutrient content and associated health benefits. Additionally, this type of beans are a rich source of fibre and reduce the risk of chronic health problems such as hypertension, obesity, and heart problems. Further, they are a good choice for consumers who are looking for healthy and convenient food options.
Canned Beans Market Insights :
Canned Beans Market Dynamics - (DRO) :
Key Drivers :
Increasing health benefits associated with beans
Canned beans are a type of beans which are preserved in cans after being cooked partially to eliminate the presence of microorganisms. These beans are an important protein source and a good substitute for meat. Such beans are highly nutritious in nature and consist of ingredients such as dietary fiber and plant protein. These ingredients play a crucial role in managing digestive health of the human body as they take more time to digest and help to reduce weight. Such effects decrease the possibility of chronic diseases such as cardiovascular diseases, hypertension, obesity, diabetes, and gastrointestinal disorders. Analysis of market trends concludes that the overall health benefits and nutrient content associated with beans have surged the canned beans market demand. For instance, according to the article published by the American Health Association in October 2023, beans are rich source of plant-based proteins, minerals, and dietary fiber. Thus, beans are highly recommended by the American Health Association in day-to-day diet for healthy eating pattern.
Growing preference for convenient food meals
Beans sold in canned packaging are precooked and consume less time as compared to dry beans. Convenient food meals are a popular trend occurring in the market and highly preferred by working women who have busy schedules and more responsibilities. They can be eaten regularly as they increase the nutrient ingredients and the quality of the diet. Furthermore, the growing preference for convenience food is experiencing a significant increase in their consumption. Analysis of market trends concludes that increasing rate of working women across the globe is another prominent factor propelling the market proliferation. For instance, according to the report published by the Ministry of Labour and Employment, the Periodic Labour Force Survey (2021-2022) has observed an increase in Female Labour Force Participation Rate (LFPR) in India. Approximately 32.8% females of working age (15 years and above) were in labour force in 2021-22 which was just 23.3% in 2017-18. Thus, the aforementioned factors are driving a substantiate growth in the canned beans market.
Key Restraints :
Growing preference for dried beans among consumers
Canned beans are a processed food, and the process requires various preservatives to increase its shelf-life. However, the shift in consumer preference towards preservative-free products is a major factor limiting the market proliferation. Further, dried beans represent an excellent alternative for them. Dried beans are highly popular in middle class households, owing to its low prices comparative to canned alternatives. For instance, according to a study conducted by Northarvest Bean Growers Association in 2023, Dry beans cost less than canned alternatives per serving. For instance, a one-pound bag of dry pinto beans costs USD 1.79 and prepare serving of 12.5 cup, whereas a can of pinto beans costs USD 1.69, and provides 3.5 cup servings. This means that a serving of dry bag of pinto beans costs just USD 0.15 while a serving of canned pinto beans costs USD 0.48. Hence, as a result, the families having constrained budgets prefer using dried beans and it is expected to reduce the consumption for canned alterantive by the consumers. Analysis of market trends concludes that the increasing competition from dried beans segment owing to their low cost and higher benefits, dried beans present a significant threat to the growth of the canned beans market.
Future Opportunities :
Rising investment activities for developing plant-based protein alternatives to replace meat
Meat is considered as an excellent source of protein and is heavily consumed by protein demanding population.
Canned beans, being a rich source of protein and mineral, are favored by the previously mentioned population. Increasing consumer preference for healthy products, sustainable choices and reduced intake of protein calories is expected to create enormous opportunities in the global canned beans market.
The growing requirement for plant-based protein alternatives is anticipated to expand the product offerings in the canned beans market. Analysis of market trends concludes that the phenomenal increased investment in the production of plant-based protein alternatives is expected to fuel the demand for canned food alternatives across the world. For instance, according to the article published by the Good Food Institute (GFI) in 2023, the alternative protein industry raised investment of USD 2.9 billion in 2022. This investment accounted for 21% of all-time investments made in the industry, summarizing overall investments to USD 14.6 billion in the past decade. Thus, the evident increase in investments occurred in alternative plant-based protein industry is emerging as one of many canned beans market opportunities that will drive market expansion over the forecast period.
Canned Beans Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 4,326.55 Million |
| CAGR (2023-2031) | 5.8% |
| By Type | Navy Beans, Kidney Beans, Garbanzo Beans, Pinto Beans, Lima Beans, Black Beans, and Others |
| By Product Type | Organic and Conventional |
| By Distribution Channel | Online (Company Websites and E-commerce Websites) and Offline (Retail stores, Supermarkets, and Others) |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | The Kraft Heinz Company, La Doria S.p.A., Furmano's, Menifine Industries Pvt. Ltd., Del Monte Foods, Inc, Shah Trading Company Ltd., MCCALL FARMS, Rosa Food Products, HANOVER FOODS, Mangia Inc., California Garden Products Inc, Serious Bean Co. (Lakeside Foods Inc.) |
Canned Beans Market Segmental Analysis :
Based on the Type :
The type segment is categorized into navy beans, kidney beans, garbanzo beans, pinto beans, lima beans, black beans, and others. In 2022, the pinto beans segment accounted for the highest market share of 29.85% in the overall canned beans market and is also expected to grow at fastest CAGR over the forecast period. Pinto beans contain variety of nutrients and provide several health benefits to the consumers. These beans are rich source of protein, phosphorus, manganese, dietary fibre, and folate. Pinto beans are widely consumed to prepare a variety of dishes across some parts of Europe and Americas. For instance, according to an report published by the United States Dry Bean Council, in 2023, pinto beans are most used beans in United States followed by navy beans and kidney beans. Thus, the increasing consumption of pinto beans is a prominent factor accelerating the segment growth.
Based on the Product Type :
The product type segment is categorized into organic and conventional. In 2022, the conventional segment accounted for the highest canned beans market share. Conventional beans that are canned have been grown by using traditional farming practices. These beans are highly popular across the globe due to their affordability. Thus, this is one of the prominent factors contributing to the dominant market share for the conventional segment.
Furthermore, the organic segment is expected to grow at the fastest CAGR over the forecast period. The demand for organic beans is increasing, owing to the associated health benefits with organic foods. Organic beans are grown without using synthetic chemicals such as fertilizers, herbicides, and pesticides. These products are environmentally friendly and highly preferred by consumers opting for sustainable products. The increasing consumer preference towards organic products is expected to affect the organic canned beans market. For instance, according to the article published by the Department of Health, State Government of Victoria, Australia, in 2023, consumer demand for organic food is growing at a rate of 20% to 30% annually. Thus, owing to the shift in buying behavior of consumers, the demand for organic beans is expected to grow significantly over the forecast period.
Based on the Distribution Channel :
The distribution channel segment is categorized into online and offline. In 2022, the offline segment accounted for the highest market share in the canned beans market. The offline segment is further bifurcated into retail stores, supermarkets, and others. Offline distribution requires an effective planning regarding production, storage to support daily operation and strategic reserve, processing and shredding as well as transport logistics. This method is highly popular among consumers who prefer to buy products in person, owing to high assurance of product quality. Additionally, the offline buying offers instant gratification to the buyer as there is no delivery time required in this process. Hence, the above mentioned factors are driving the segment growth.
However, the online segment is expected to grow at the fastest CAGR over the forecast period. The online segment is further bifurcated into company websites and e-commerce websites. Technological advancements and digitalization are the prime factors that are likely to bolster the segment growth in the following years. The rise in number of consumers shopping online for groceries and household items is another influencing factor contributing to the segment growth. For instance, according to the report published by the Census Bureau of the Department of Commerce of United States, in August 2023, the retail e-commerce sales of U.S. increased to USD 269.5 billion with increase of 6.6% in second quarter of 2023. Thus, the growing ecommerce market across the world is expected to influence the online distribution of beans in the market.
Based on the Region :
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
In 2022, Europe accounted for the highest market share of 35.10% valued at USD 920.58 Million in 2022 and USD 971.09 Million in 2023 and is expected to reach USD 1,522.94 Million in 2031. In the European region, Germany accounted for the highest market share of 23.70% in 2022. Analysis of canned beans market trends concludes that the growth in the region is attributed to the increasing preference of European consumers for plant-based protein substitutes to replace meat and shift in consumer preference for BPA-free packaging for food products. The beans are considered an excellent ready to eat food option, as they take less time to cook due to their partially cooked nature. Additionally, the rising popularity of ethnic cuisines across the region and the expanding distribution network is boosting the canned beans market growth in Europe.
However, North America is expected to grow at the fastest CAGR of 6.3% during the forecast period. The evident rise in use of ready to eat foods is one of the primary factors influencing the demand of the beans in the region. The canned beans market analysis concluded that the increasing investment in research and development activities of canned foods by countries in North America is also expected to fuel the expansion of canned beans market in in the region. For instance, according to the report published by the U.S. Department of Agriculture in February 2023, the U.S. announced plans to purchase canned food to distribute under various food nutrition assistance programs. Hence, the growing consumption of beans in the region is anticipated to boost the market expansion in the following years.
Top Key Players & Market Share Insights:
The canned beans market is highly competitive, with several large players and numerous small and medium-sized enterprises. The major companies operating in the canned beans industry have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. Analysis of market trends concludes that market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
- The Kraft Heinz Company
- La Doria S.p.A.
- HANOVER FOODS
- Mangia Inc.
- California Garden Products Inc
- Serious Bean Co. (Lakeside Foods Inc.)
- Furmano's
- Menifine Industries Pvt. Ltd.
- Del Monte Foods, Inc
- Shah Trading Company Ltd.
- MCCALL FARMS
- Rosa Food Products
Recent Industry Developments :
- In April 2023, Del Monte announced its expansion of canned beans production in the US. The company is investing USD 50 million in new production development at its plant in California. The new line is expected to operate from 2024 and expected to contribute to enhance 20% production capacity of canned products.
- In March 2023, La Doria acquired the canned beans business segment of French company known as Conserve France. The acquisition is expected to provide a stronger presence for La Doria in the European market.
Key Questions Answered in the Report
What was the market size of the canned beans market in 2022? +
In 2022, the market size of colorectal cancer was USD 2,622.73 million.
What will be the potential market valuation for the canned beans market by 2031? +
In 2031, the market size of colorectal cancer is expected to reach USD 4,326.55 million.
What are the key factors driving the growth of the canned beans market? +
The increasing consumer preference for plant-based proteins is fostering the market growth.
What is the dominating segment in the canned beans market by type? +
In 2022, the pinto beans segment accounted for the highest market share in the overall canned beans market.
Based on current market trends and future predictions, which geographical region will have the fastest impact on the canned beans market's growth in the coming years? +
North America is expected to grow at the fastest CAGR in the overall canned beans market.
