Canned Beans Market size was over USD 729.4 million in 2023 and is poised to cross USD 1.29 billion by 2036, witnessing more than 4.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of canned beans is evaluated at USD 755.66 million.
The growth of the market can be attributed to the increasing demand for ready-to-eat food backed by the changing lifestyle in urban areas. Canned beans are pre-cooked and frozen, and just need to be heated before consumption. This makes their consumption easy, quick and convenient. Moreover, they are a rich source of protein and are very affordable, with prolonged shelf life. This is estimated to drive the growth of the market. Furthermore, the growing adoption of vegan diet, and availability of packaged vegan food, is also estimated to boost the market growth, as beans are a major source of plant protein. For instance, in the U.S., veganism has raised by more than 20% from 2015, with over 6% of the total population choosing vegan diet in 2020, and is further estimated to increase in the coming years.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
4.5% |
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Base Year Market Size (2023) |
USD 729.4 million |
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Forecast Year Market Size (2036) |
USD 1.29 billion |
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Regional Scope |
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The global canned beans market is segmented by distribution channel into supermarket, conventional stores, online retailers, and others, out of which, the supermarket segment is anticipated to hold the notable share in the market during the forecast period on account of increasing footfall in supermarkets, backed by the availability of almost every essential items. Moreover, more supermarkets are being opened across the globe, which is further estimated to boost the segment growth.
Our in-depth analysis of the global canned beans market includes the following segments
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By Type |
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By Distribution Channel
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North America Market Statistics
Regionally, the global canned beans market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is predicted to dominate majority revenue share by 2036, on the back of busy lifestyle, growth in the number of working women, and raised disposable income. As per the statistics by the World Bank, the total percentage of working women aged 15-64 in North America increased by 1.96% from 2015 to 2019. Moreover, rising demand for ready-to-eat foods is estimated to boost the market growth in the region. Additionally, the increasing trend of opting vegan food, is also estimated to promote the market growth.
APAC Market Analysis
The canned beans market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period, on the back of increasing population, and changing lifestyle. Moreover, increasing adoption of packaged food and beverages, is estimated to boost the market growth in the region.
Author Credits: Parul Atri
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