Dry Beans Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The dry beans market is projected to register a CAGR of 4.5% during the forecast period.

Due to the COVID-19 outbreak and the imposition of lockdown restrictions, there was a surge in demand for dry beans because of their long shelf-life. The global pandemic has made people health-conscious and has made them shift toward consuming organic and healthy food. Dry beans, being considered 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 for the producers to maintain a continuous flow of supply.

Dried beans are lightweight. They form the ideal starter kit for a home-cooked meal in a new kitchen. Thus, it is the meal of choice for a quick lifestyle, where people cannot afford to spend a lot of time cooking elaborate meals.

In 2020, India was the world's leading producer of dry beans, accounting for nearly 20% of the total output. In India, dry beans are majorly grown in the states like Gujarat, Jharkhand, Tamil Nadu, Karnataka, Uttar Pradesh, Andhra Pradesh, West Bengal, Bihar, Madhya Pradesh, and Chhattisgarh. The production is further expected to enhance during the forecast period with the increasing domestic demand. The major factors driving the market for dry beans in India are the increasing demand for dry beans in the domestic and international markets and the growing demand from the processing industries.

Dry Beans 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 negative impact 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 is an important factor for people to turn towards vegan sources of protein. Therefore, increasing the adoption of plant-based protein, owing to the awareness of 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.

Asia-Pacific is Dominating the Market, in Terms of Production

Myanmar is one of the largest producers and exporters of dry beans in Asia-Pacific globally. One of the principal factors responsible for the highest production of beans in Myanmar is the need to use land instead of keeping it idle after rice cultivation. Beans can be planted at the beginning of the winter season and can thrive on the leftover moisture of the rainy season, as they do not require additional artificial irrigation facilities in the absence of rain, which makes the cultivation cost-effective with no additional allocation of resources required for cultivation. Myanmar is also one of the largest exporters of dry beans, and a ready Indian market imported a significant portion of its production, although the restriction on the import quota of beans by the Indian government adversely affected the market for dry beans in Myanmar in 2017. The major countries that imported dry beans from Myanmar, in terms of value, as of 2020, were India (USD 391,406 thousand), China (USD 368,407 thousand), Singapore (USD 106,420 thousand), and Indonesia (USD 53,417 thousand).

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• The market estimate (ME) sheet in Excel format
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