Rockville , April 13, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global canned beans market is expected to reach US$ 15 million by 2033, expanding at a high-value CAGR of 10.3% from 2023 to 2033.
Canned beans are a type of beans sold in various types of tin cans. Beans have numerous health benefits, including reducing cholesterol, heart disease risk, and diabetes risk. Canned beans are particularly convenient as they do not require prior cleaning, cutting, or peeling.
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The market for canned beans is expanding due to several factors, including an increase in the number of people working and their preference for quick meals. Rising awareness about the benefits of nutrient-dense canned food products and an increase in per capita disposable income are also contributing to the growth of this market.
Factors that are driving market expansion include changing lifestyles, modernization, and increasing research and development efforts made by large companies, particularly in developing economies. Sales of canned beans are increasing because of improvements in the product distribution system, growing demand for ready-to-eat food products, growth of the retail industry in developing countries, rising health consciousness among consumers, and consumers’ evolving tastes and preferences.
Key Takeaways from Market Study
- As of 2023, the global canned beans market is valued at US$ 5.65 billion.
- Worldwide demand for canned beans is projected to increase at a CAGR of 10.3% from 2023 to 2033.
- The market is estimated to touch US$ 15 billion by the end of 2033.
- Europe is predicted to hold a 48% share of the global canned beans market by 2033.
- Sales of canned beans in Europe are anticipated to increase at a CAGR of 5.9% through 2033.
“The market for canned food is expanding due to increasing need for convenient food options, particularly among the growing working population, including dual-income households,” says a Fact.MR analyst.
Key Companies Profiled in This report
- Epicure
- Windmill Organic Limited
- American Garden
- ConAgra Foods, Inc.
- Bush Brothers & Company
- Van Camp's
- Luck's Bean
- Heinz Baked Beans
- Goya Foods Inc.
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Market Competition
The development of alternative packaging formats such as bags and boxes has increased competitiveness for producers who solely supply canned goods. To acquire an edge over their competitors, companies in this market have started releasing innovative canned legumes.
- For instance, Teasdale Latin Foods launched a new line of canned beans in April 2019 under the Teasdale Simply Especial brand. These beans come in five distinct varieties.
- On December 1, 2020, B&G Foods, Inc. announced that it had purchased the Crisco brand of oils and shortening from J. M. Smucker Co.
Canned Beans Industry Segmentation
- By Type :
- Kidney Beans
- Lima Beans
- Black Beans
- Baked Beans
- Others
- By Category :
- Conventional
- Organic
- By Distribution Channel :
- Store-based (Supermarkets and Convenience Stores)
- Non-store-based
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global canned beans market, presenting historical demand data from 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on type (kidney beans, lima beans, baked beans, black beans, others), category (conventional, organic), and distribution channel (store-based [supermarkets and convenience stores], non-store-based), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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