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US Packaged Dry Beans Market Insight and Key Players with Forecasts up to 2030
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Dry packaged beans are beans that are re-conditioned and packed into containers, such as plastic bags, for the retail market.
The US packaged dry beans market is anticipated to expand at a CAGR of 8.8% during the 2019-2024 period, and will reach a value of USD 939.2 Mn by 2024, from USD 616.0 Mn in 2019.
The growth of the market is attributed to increasing health consciousness, a growing Hispanic population, easy storage of dry beans, and longer shelf life.
Based on product type, the pinto beans segment held a market share of more than half in 2018 and is expected to expand at a CAGR of 2.6% during the 2019-2024 period. This growth is driven by the growing Hispanic population, which consumes more than half of the total pinto beans in the market. The black beans segment follows, with a market share of around 24% in 2018, due to its increasing popularity among Mexican food consumers in the US. The navy beans segment is expected to have the highest CAGR (~19%) during the 2019-2024 period, owing to its popularity among the White population.
Based on the distribution channel, the supermarkets segment accounted for the highest market share (~69%) in 2018. The convenience stores segment is expected to expand at a CAGR of more than 10%, while the department stores segment is anticipated to experience a moderate growth rate of over 6% during the 2019-2024 period.
The leading companies operating in the US packaged dry beans market include Eden Foods, Chippewa Valley Beans, 21st Century Bean, Goya Foods, LH Hayward, N.K. Hurst Co., Kelly Bean Co., Hayes Food Products, Russel E. Womack, Inc., and Bob's Red Mill Natural Foods.
These companies are focusing on expanding their product portfolios and investing in research and development to offer innovative and healthier packaged dry bean products to their customers. The market is highly competitive, and companies are adopting various strategies like mergers and acquisitions, partnerships, and collaborations to expand their market presence and gain a competitive advantage.
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The scope of this report encompasses a comprehensive analysis of the market growth expected to occur from 2023 to 2030. Through meticulous research, we have organized data pertaining to the evolving market structures that exert influence on industries, markets, technologies, and capabilities. Our report presents a thorough examination of relevant statistics, opportunities, challenges, drivers, restraints, limits, market size, share, and trends. By delivering valuable insights, we aim to provide a comprehensive understanding of the market landscape.
Here are the key highlights of the report:
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• Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER's five forces.
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• Guidance provided for new market entrants, assisting them in navigating the industry landscape.
• Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
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• Top Market Players: The report includes a comprehensive analysis of the leading market players, highlighting their business strategies, sales volume, and revenue analysis.
• Facts and Factors Research Methodology: Our research methodology is based on a rigorous approach, ensuring the accuracy and reliability of the information presented in the report.
Our most recent research report showcases the thriving expansion of the global US Packaged Dry Beans Market and offers in-depth insights into the projected market size, share, and revenue until 2030.
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