Report Ocean introduces a fresh report examining the “US Packaged Dry Beans Market” encompassing its size, share, growth, industry trends, and forecast up to 2030. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
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 Million by 2024, from USD 616.0 Million in 2019.
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Dry packaged beans are beans that are re-conditioned and packed into containers, such as plastic bags, for the retail market.
The growth of the market is attributed to increasing health consciousness, a growing Hispanic population, easy storage of dry beans, and longer shelf life.
Based on product type, the pinto beans segment held a market share of more than half in 2018 and is expected to expand at a CAGR of 2.6% during the 2019-2024 period. This growth is driven by the growing Hispanic population, which consumes more than half of the total pinto beans in the market. The black beans segment follows, with a market share of around 24% in 2018, due to its increasing popularity among Mexican food consumers in the US. The navy beans segment is expected to have the highest CAGR (~19%) during the 2019-2024 period, owing to its popularity among the White population.
Based on the distribution channel, the supermarkets segment accounted for the highest market share (~69%) in 2018. The convenience stores segment is expected to expand at a CAGR of more than 10%, while the department stores segment is anticipated to experience a moderate growth rate of over 6% during the 2019-2024 period.
The leading companies operating in the US packaged dry beans market include 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.
These companies are focusing on expanding their product portfolios and investing in research and development to offer innovative and healthier packaged dry bean products to their customers. The market is highly competitive, and companies are adopting various strategies like mergers and acquisitions, partnerships, and collaborations to expand their market presence and gain a competitive advantage.
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The report addresses the following key questions regarding the US Packaged Dry Beans market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of US Packaged Dry Beans in the market?
- How are regulatory policies and government initiatives impacting the growth of the US Packaged Dry Beans market?
- What is the market share of the top 5 players in the US Packaged Dry Beans market and how is it likely to change in the future?
- What are the latest technologies and innovations in the US Packaged Dry Beans market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the US Packaged Dry Beans market?
- What are the challenges related to the supply chain and logistics that US Packaged Dry Beans market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the US Packaged Dry Beans market?
- What are the potential risks and uncertainties associated with investing in the US Packaged Dry Beans market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of US Packaged Dry Beans market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the US Packaged Dry Beans market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the US Packaged Dry Beans market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate US Packaged Dry Beans business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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