Dry Beans Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The global dry beans market is projected to register a CAGR of 4.3% during the forecast period (2021-2026).

Due to the Covid-19 outbreak and the imposing of lockdown restrictions, there has been a surge in demand for dry beans because of their long shelf-life. The global pandemic has made people health-conscious and improves their immune systems. Dry beans being considered as the best alternative source of protein and other nutrients had led to an increase in demand across the world. The sudden surge in demand has made it difficult to the producers to maintain a continuous flow of supply.

In 2019, Myanmar is the world's leading producer of dry beans, accounting for nearly 20.2% of the total output. In 2017, dry bean production declined, due to unfavorable weather conditions and uneven rainfall in the producing countries. The production of dry beans is majorly affected by several factors, such as environmental hazards, bio stress, and government policies of countries. Beans are subject to several bacterial and viral diseases as well, particularly at times of high temperature, high humidity, and heavy rainfall. Such unfavorable climatic conditions, along with diseases and pest infestation, often take a heavy toll on the yield of dry beans. Top global dry bean producers are Myanmar, India, Brazil, China, Mexico, Tanzania, the United States, Kenya, Uganda, and Rwanda. Major importers include India, China, Bangladesh, the United States, and Egypt.

Scope of the Report

Dry beans are a mixture of legumes which include popular beans like red kidney beans, pinto beans, black beans, etc. They are considered as rich sources of carbohydrates, proteins, fibers, minerals, and vitamins. The market has been segmented by Geography (North America, Europe, Asia-Pacific, South America, and Middle-East & Africa). The report includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis.

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Key Market Trends

Increasing Inclination Toward Vegan Diet

Food consumption patterns are changing rapidly. As of 2018, the number of people following the animal-free diet had significantly increased, which is one of the major drivers for the dry beans industry. Dried beans have a high content of fibers and proteins, which makes it ideal for people with diabetes, as well as for people who want to reduce their meat consumption. Over the years, there has been an increasing trend of veganism in Europe and the United States, which is spreading across the world. Moreover, people are focused on plant-based diets, which has been the reason for the higher consumption of dry beans. The intake of animal protein, which is associated with high cholesterol levels, fat, and calories, increases the risk of cardiac diseases, high blood sugar levels, and obesity. Hence, people have an inclination toward vegan sources of protein. In conclusion, increasing the adoption of plant-based protein, owing to the awareness about the benefits offered by a plant-based protein among consumers in the potential market, is one of the major factors spurring the demand for dry beans across the world.

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