Global canned legumes market value is projected to be US$ 3.05 billion in 2023 and will grow at a CAGR of 4.5% as canned foods become more widely accepted. During the forecast period, manufacturers are likely to introduce canned legumes to meet this growing demand, and the market is expected to reach US$ 4.74 billion by 2033.
Since canned legumes are a rich source of plant-based proteins, the demand for them has increased as consumers’ health concerns rise as a result of the increased number of working populations, particularly dual-income households. Due to the growing popularity of ethnic foods, lentils and chickpeas are expected to gain importance in the coming years.
A busy lifestyle and an increasing household income in developed and developing regions will continue to drive the global market in the upcoming years. This is the result of the growing demand for healthy and convenient ready-to-cook foods. The global food market is growing due to the rising number of working population groups, particularly dual-income households.
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Key Takeaways from Market Study
- The market for canned legumes is expected to grow at a CAGR of 4.5% over the forecast period.
- According to estimates, the canned legumes market in the United States remains strong throughout the length of the forecast period.
- Beans segment dominated the canned legume market in 2023, with more than 42.0% of the total market share.
- It is expected that the canned legumes market in China may demonstrate a high level of growth to reach a projected market size of US$ 1082.71 million by 2033, growing at a CAGR of 6.8%.
Competitive Landscape:
In the canned legumes market, there are numerous international and regional players competing, making it highly competitive. Several prominent companies dominate this market, including Alimenco Srl; Bush Brothers & Company; Conagra Brands; Co-op Food; Del Monte Food, Inc.; Del Monte Pacific Limited (Nutriasia, Inc.); Eden Foods, Inc.; Faribault Foods, Inc.; Fujian Chenggong Canned Food Co., Ltd.; Fujian Chenggong Fruits & Vegetables Food co.,ltd; General Mills, Inc.; Goya Foods, Inc.; Kyknos; Napolina; SATKO; Supermercados Mayoristas Yaguar S.A.; Teasdale Foods, Inc.; Teasdale Latin Foods; The Hain Celestial Group, Inc.; The Kraft Heinz Company; and Yichang Tianyuan Canned Food Co., Ltd.
It is a highly consolidated market, with these players holding the significant share. Companies are focusing on price, quality, ingredients, and promotions to gain a dominant market share. These companies are investing more in research and development (R&D) to develop consumer-driven flavors and ingredients to expand their presence and maintain their position in the market.
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Recent Developments:
- A vegan-friendly canned sausage and bean product was introduced by The Co-op Food Company in April 2019. In addition to baked beans that are flavored with tomato sauce, herbs, and spices, chickpeas and lentils will gain popularity due to their shorter cooking times in the upcoming years. As consumers become more accustomed to dried foods, precooked and ready-to-eat varieties are becoming increasingly popular.
- The Bush Brothers brand partnered with Beanstalk, a global brand extension and licensing company, in June 2020. The partnership was aimed at extending the brand’s reach into complementary food categories to provide healthy and delicious food to consumers.
- Teasdale launched its Simply Especial line of teas in April 2019. The Simply Especial line is available in five varieties: Chili Verde, Chipotle Rojo, Mexican Chili, Peruvian, and Spicy Cuban.
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The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill clients’ unique business intelligence needs worldwide. With a catalog of more than 500 reports about the latest statistics and analyses from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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Canned Legumes Market by Category
By Type, the Canned Legumes Market is Segmented as:
- Navy Beans
- Peas
- Chickpeas
- Others
By Type of Category, the Canned Legumes Market is Segmented as:
- Conventional
- Organic
By Distribution Channel, Canned Legumes Market is Segmented as:
- Supermarkets/Hypermarkets
- Online Retail Stores
- Convenience Stores
- Others
By Region, Canned Legumes Market is Segmented as:
- North America
- Latin America
- Europe
- The Middle East & Africa (MEA)
- East Asia
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