US Packaged Dry Beans Market to Expand at 8.8% CAGR Till 2024
Research On Global Markets has announced the addition of a market research report titled “US Packaged Dry Beans Market (2019-2024)” to their offering. According to the report, 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. Increasing health consciousness, a growing Hispanic population, easy storage of dry beans, and longer shelf life are some of the factors that are expected to aid the growth of the market.
The research report published by Research On Global Markets features a comprehensive analysis of the segments of the packaged dry beans market in the US based on product type and distribution channel. Based on product type, the pinto beans segment held a market share of more than 50% in 2018, and is anticipated to expand at a CAGR of 2.6% during the forecasted period. A growing Hispanic population, which consumes more than half of the total pinto beans in the market, constitutes a significant share of the demand for this segment. The black beans segment held a market share of around 24% in 2018, driven by its increasing popularity among Mexican food consumers in the US. During the forecasted period, the navy beans segment is expected to have the highest CAGR (19%), owing to its popularity among the rest of the population.
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%. It is anticipated that the department stores segment will experience a moderate CAGR of 6% during the forecasted 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, according to Research On Global Markets.
Research On Global Markets tracks the performance of the major players operating in the packaged dry beans market in the US including 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, among others.
Key highlights of this report:
- US Packaged Dry Beans Market Overview
- US market revenue – (2016-2018) (USD Bn)
- US forecast market revenue – (2019-2024) (USD Bn)
- US Packaged Dry Beans Market - Segment Insights based on product type (black beans, navy beans, pinto beans, and kidney beans) and distribution channel (supermarkets, convenience stores, department stores, and others)
- Qualitative analysis of the major drivers and challenges affecting the market
- Analysis of the competitive landscape and profiles of major players operating in the market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for packaged dry beans in the US to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.