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Edible beans are an excellent source of protein, dietary fibres, vitamins, and other minerals, that have scientifically backed to improve gut health, reduce cholesterol, and reduce blood sugar levels of the consumers. There are numerous varieties of edible beans such as kidney beans, navy beans, and pinto beans which are gaining huge popularity among healthy food manufacturers. They are not only rich in flavonoids but also exhibits anti-inflammatory and antioxidant properties, which has led to their demand rise. The edible beans are widely incorporated in various processed foods such as sauces, soups, salads, and culinary preparations. Along with this, the increasing demand for healthy ready-to-eat (RTE) and ready-to-cook (RTC) foods has driven the edible beans market growth.
The growing consumer preferences toward organic and clean-label products have positively impacted the edible beans market. The consumption of edible beans has increased among the consumers due to their inclination towards plant-based products. Further, the wide consumption of edible beans to suffice the nutritional requirement of the body among gym-goers and athletes has boosted its market growth.
The edible beans market is mainly driven by the growing consumer preferences towards healthy and nutritious foods. Their growing interest in leading a healthy lifestyle and growing health awareness have led to the wide incorporation of edible beans in various processed foods. Moreover, the increase in consumption of plant-based protein food products owing to the global vegan trends has also supported in its market growth.
The seasonal dependency for harvesting and procurement of beans is a major factor responsible for the fluctuations in its price which acts as a major restraint in the market. For instance, according to the L.H. Hayward & Co. 2020- producer of Camellia Brands beans, there has been a shortage in edible bean production due to the Covid-19 pandemic and poor fall harvest.
Key Market Driver -
Increasing Consumers Demand for Healthy Foods
Key Market Restraint -
Seasonal Dependency for the Production and Procurement
The key companies operating in the global edible beans market are Archer-Daniels-Midland Company, Star of the West Milling Company, Eden Foods, Inc., Phalada Pure & Sure, Trader Joe's, Utz Quality Foods, LLC, Kirsten Company LLC, Chippewa Valley Bean Co., Inc., All Needs General Trading LLC, and Bush Brothers & Company.
The kidney beans segment is anticipated to hold the major share in the market as it is the most popular and common variant of edible beans consumed. The popularity of kidney beans is mainly due to its high nutritional value as it contains high amount of carbohydrates, folate, protein, and iron. Further, the low cost of the bean compared to the other variants is also expected to positively impact its market growth.
The supermarkets and hypermarkets are expected to hold the largest share in the market due to the high consumers’ dependency on these mass merchandisers for purchasing grocery products. The availability of various products in different price ranges and brands coupled with various discount schemes on bulk buying have also drawn the consumers’ attention. Further, the rapid rise in the number of supermarkets worldwide is anticipated to positively influence the edible beans market in the upcoming years.
North America is witnessing substantial growth in the edible beans sector due to the increasing consumer demands for organic and healthy products. The rise in vegan trends in the U.S. has led to an increase in the consumption of edible beans as a source of plant-based protein. Along with this, the U.S. is among the largest producer of kidney beans in the world. In addition, the rise in consumption of RTE and RTC foods by the consumers due to their fast-paced lifestyles is expected to fuel the regional market growth.
Asia Pacific is anticipated to exhibit significant growth in the market due to the high consumption rate of edible beans as one of the main foods in countries such as India, China, and Japan. The increasing population and the presence of a large consumer base in these countries are the factors expected to boost the market in the region.
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