Dry Beans Market By Bean Type, By Packaging Type, By End-User By Distribution Channel, & Region for 2024-2031

Dry Beans Market Valuation - 2024-2031

The increasing demand from consumers for plant-based protein sources, health-conscious eating patterns, and sustainable bean cultivation methods are driving factors in the dry bean market. According to the analyst from Verified Market Research, the dry beans market is estimated to reach a valuation of USD 6.79 Billion by 2031 over the forecast subjugating around USD 4.93 Billion in 2024.

The growing popularity of vegetarian and vegan diets, increased health consciousness, and the versatility of beans as an affordable, nutrient-dense ingredient in a wide range of culinary applications all contribute to the projected strong growth of the dry bean market. It enables the market to grow at a CAGR of 4.5% from 2024 to 2031.

Dry Beans Market: Definition/Overview

Dry beans are mature seeds of leguminous plants, particularly those in the Fabaceae family, that are picked and allowed to dry before consumption. They are distinguished by their tough exterior shells and starchy inside, making them an adaptable element in a variety of culinary applications. Dry beans are popular in soups, stews, and salads due to their high protein and fiber content, making them a vegetarian and vegan mainstay.

What are the Primary Drivers for the Growth of the Dry Beans Market?

The growing popularity of plant-based diets and the acknowledgment of beans as a healthy protein source are driving market growth. The Good Food Institute reported that plant-based food retail sales in the United States increased by 27% in 2020, reaching USD 7 Billion. The plant-based protein category, which includes dry beans, increased by 24% during the same period. This trend points to a growing consumer demand for plant-based protein sources such as dry beans.

Dry beans are becoming increasingly popular for their health benefits, such as high fiber content and low glycemic index. According to the Centers for Disease Control and Prevention (CDC), barely one in every ten persons in the United States consumes the recommended amount of fruits and vegetables each day. This has led to increased attempts to promote healthful foods like beans. The U.S. Department of Agriculture's MyPlate guidelines recommend adults consume 1.5 to 3 cups of beans per week, further driving demand for dry beans as a healthy food option.

Furthermore, the COVID-19 pandemic has raised concerns about food security, resulting in increased demand for non-perishable items such as dried beans. According to the Food and Agriculture Organization (FAO), global dry bean production has climbed from 28.9 million tons in 2010 to 34.5 million tons in 2020, indicating a growing demand. Also, the United Nations designated 2016 as the International Year of Pulses, which includes dry beans, to promote awareness about their nutritional value and significance in sustainable food production.

What are the Key Challenges faced by the Dry Beans Market?

Dry beans' productivity is influenced by elements such as soil quality, rainfall, and temperature since they are sensitive to environmental conditions. Climate change and harsh weather threaten the consistent and dependable production of dry beans, resulting in supply disruptions and price volatility, and limiting market expansion.

Alternative and plant-based protein sources compete with dried beans. Dry beans are struggling to maintain or increase their market share as goods such as peas, lentils, and soy gain popularity. Furthermore, because dry beans take longer to cook than canned or processed beans, some customers assume they require more time to prepare. This misconception prevents many from embracing them, especially those seeking quick and easy supper options.

Category-Wise Acumens

How Does the Rising Popularity of Plant-based Diets Propel the Demand for Pinto Beans?

According to VMR analysis, the pinto beans segment is estimated to hold the largest market share during the forecast period. Pinto beans are known for their high nutritional content, which includes protein, dietary fiber, vitamins, and minerals. This health appeal coincides with the expanding consumer trend toward plant-based diets, making pinto beans a popular choice among health-conscious people looking for healthful food options.

The adaptability of pinto beans in diverse cuisines contributes greatly to their market dominance. They are commonly used in popular meals like chili, burritos, and refried beans, especially in Mexican and Southwestern cuisines. This widespread use in a variety of culinary applications increases their demand in both the retail and restaurant industries.

Furthermore, the growing popularity of vegetarian and vegan lifestyles has increased demand for pinto beans as a primary plant-based protein source. As consumers seek alternatives to animal proteins, pinto beans provide a cost-effective and nutritional option, maintaining their position as the market leader in dry beans.

How Does Increasing Demand in Households Promote the Dry Beans Market Growth?

The household segment is estimated to dominate the dry beans market during the forecast period. The growing understanding of dry beans' health benefits, such as their high protein and fiber content, encourages households to incorporate them into their meals. As customers seek healthful and economical food options, dry beans have become a household staple, contributing to their dominance.

Dry beans are popular in families because they are versatile in cooking and easy to store. They can be used in a variety of cuisines, including soups & stews, salads, and side dishes. This versatility makes them a popular choice among home cooks, contributing to their sizable market share in the household segment.

Furthermore, the surge in plant-based diets and vegetarianism in homes has greatly increased the demand for dried beans. As consumers seek animal alternatives for health and environmental reasons, dried beans serve as a key source of plant-based protein, reinforcing their dominance in the household end-use segment.

Country/Region-wise Acumens

How Does the Growing Hispanic Population Drive the Dry Beans Market in North America?

According to VMR analyst, North America is expected to exhibit substantial growth within the dry beans market during the forecast period. The Hispanic population in North America, especially in the United States, is quickly expanding and influencing gastronomic trends. The Hispanic population is expected to reach 111 million by 2060, accounting for 28% of the overall US population. Beans are an essential ingredient in many Hispanic cuisines. According to the U.S. Dry Bean Council, Hispanic Americans consume dry beans at a 2-3 times higher rate than the general population, which is fueling market expansion.

Furthermore, the COVID-19 pandemic has raised awareness about food security and emergency preparedness in North America. According to the United States Department of Agriculture (USDA), 10.5% of U.S. households (13.8 million households) experienced food insecurity at some point in 2020. Dry beans, with their lengthy shelf life and nutritional value, have become a popular emergency food source. North American dry bean output has increased to satisfy this need, with the USDA estimating that US dry bean production will reach 1.46 million metric tons in 2020, up 59% from the previous year.

What Factors Are Driving the Growth of the Market in the Asia Pacific Region?

The Asia Pacific region is estimated to dominate the dry beans market during the forecast period. The Asia Pacific region, which accounts for over 60% of the world's population, has a substantial impact on worldwide food consumption trends. According to the United Nations, the population of Asia and the Pacific was 4.3 billion in 2019 and is expected to rise to 4.7 billion by 2050. The Food and Agriculture Organization (FAO) states that Asia accounts for about 45% of global dry bean production, with China being the leading producer. This vast and expanding population generates a significant demand for staple foods such as dry beans.

Furthermore, several Asian governments have established strategies to encourage the use of pulses, such as dry beans. For example, India, a big user of dry beans, began the National Food Security Mission in 2007 with the goal of increasing pulse production. As a result, India's pulse production rose from 14.76 million tons in 2007-08 to 23.01 million tons in 2019-20, according to the Indian Ministry of Agriculture and Farmers Welfare. Such activities across the region are propelling the dry bean market forward.

Competitive Landscape

The competitive landscape of the dry bean market is characterized by a varied range of firms involved in various elements of production, processing, and distribution. Product innovation, price strategies, and the ability to adapt to changing consumer preferences for health and sustainability are all important elements driving competition.

Some of the prominent players operating in the dry beans market include:

Ruchi Foods

Colin Ingredients

MacTaggart's Brand

Eden Foods

Amadeus

Kelley Bean Co

Goya Foods

Hayes Food Products

Nielsen-Massey Vanillas

Vanilla Food Company

21st Century Bean

Garlico Industries

Harmony House Foods

Latest Developments

In October 2022, the United States Dry Bean Council (USDBC) contracted LOTUS, a UK-based public relations agency, to analyze the prospects and problems in the UK market for US dry beans.