Quadintel published a new report on the US Packaged Dry Beans Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Beans which are re-conditioned and packed into containers (such as plastic bags) for the retail market are known as dry packaged beans. Increasing health consciousness, a growing Hispanic population, easy storage of dry beans, and longer shelf life are some of the factors that will aid the growth of the market. Variants like pinto beans, navy beans, black beans, and kidney beans are used in dishes like soups, stews, sauces, and salads, and are often paired with rice. 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.
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A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for US Packaged Dry Beans Market.
COVID-19 Impact Analysis
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
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Segmentation based on product type
Based on product type, the pinto beans segment held a market share of more than half in 2018, and is anticipated to expand at a CAGR of 2.6% during the 2019-2024 period. A growing Hispanic population, which consumes more than half of the total pinto beans in the market, makes up for a significant portion of the demand for this segment. It was followed by the black beans segment, with a market share of around 24% in 2018, owing to its increasing popularity among Mexican food consumers in the US. During the 2019-2024 period, the navy beans segment is expected to have the highest CAGR (~19%), owing to its popularity among the White population.
Segmentation based on distribution channel
Based on the distribution channel, the supermarkets segment accounted for the highest market share (~69%) in 2018. Supermarkets house several brands and different types of packaged dry beans for consumers to choose from. The convenience stores segment is expected to expand at a CAGR of more than 10%. These type of stores are in the vicinity of residential areas and are open for a greater part of the day. This gives consumers the flexibility to buy packaged dry beans from their nearby stores, whenever they are free to do so. It is anticipated that the department stores segment will experience a moderate growth rate of over 6% during the 2019-2024 period, and will reach a value of USD 186.18 Mn by 2024. The consolidation of department stores, growing online and e-commerce channels, and the introduction of small shops in the U.S. are expected to contribute to this modest growth rate.
Chippewa Valley Beans
21st Century Bean
N.K. Hurst Co.
Kelly Bean Co.
Hayes Food Products
Russel E. Womack, Inc.
Bobs Red Mill Natural Foods
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Table of Contents:
- Market Overview
- Market Definition and Scope
- Market Dynamics
- Market Industry Analysis
- Market, Regional Analysis
- Analysis of Leading Companies
- Competitive Intelligence
- Research Process
- Market Analysis and Forecast, By Product Types
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