Report Ocean introduces a fresh report examining the ‘US Packaged Dry Beans Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Obtain a comprehensive report on the US Packaged Dry Beans Market, which includes a full table of contents, over 120 tables and figures, and charts. The report provides precise information on the market before and after the COVID-19 outbreak, segmented by region.
The market is set to expand at a notable Compound Annual Growth Rate (CAGR) of 8.8% during the period from 2019 to 2024, reaching a valuation of USD 939.2 million by 2024, up from USD 616.0 million in 2019.
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The U.S. packaged dry beans market is experiencing remarkable growth, driven by factors like increasing health consciousness, the expanding Hispanic population, the convenience of dry bean storage, and extended shelf life. This market primarily deals with beans that are re-conditioned and packaged into various containers, such as plastic bags, for retail consumption. Varieties including pinto beans, navy beans, black beans, and kidney beans feature prominently in dishes like soups, stews, sauces, and salads and are frequently paired with rice.
Product Type Segmentation:
Pinto beans, a market leader in 2018 with over half the market share, are poised to continue their dominance with a CAGR of 2.6% during the 2019-2024 period. This growth is attributed to the rising demand from the growing Hispanic population, which accounts for a substantial portion of the pinto beans consumption. The black beans segment, comprising approximately 24% of the market in 2018, is driven by the increasing popularity of Mexican cuisine in the U.S. Over the same period, navy beans are projected to witness the highest CAGR (~19%) due to their growing popularity among the White population.
Distribution Channel Segmentation:
Supermarkets reigned supreme in 2018, capturing nearly 69% of the market share. These retail giants offer a plethora of brands and a wide variety of packaged dry beans, affording consumers ample choice. Convenience stores are anticipated to experience a CAGR of more than 10%, thanks to their strategic locations within residential areas and extended operating hours, making packaged dry beans readily accessible. The department stores segment is expected to grow steadily, with a growth rate of over 6% during the 2019-2024 period, reaching a value of USD 186.18 million by 2024. This growth can be attributed to department store consolidation, the increasing presence of online and e-commerce channels, and the emergence of small shops across the U.S.
Key Market Players:
- 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.
- Bob’s Red Mill Natural Foods
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Comprehensive Market Insights: Delve into the depths of the US Packaged Dry Beans Market Report to gain an all-encompassing and meticulous analysis of the market landscape. Uncover details such as market size, share, trends, and growth catalysts, which provide invaluable perspectives on both the present market scenario and its promising future prospects.
Reliable Projections: Rely on the report’s dependable forecasts and projections, which are underpinned by rigorous research methodologies, insights into industry expenditures, and assessments of market expansion rates. These foresights empower businesses to make well-informed decisions and chart out effective strategies for the times ahead.
In-depth Competition Analysis: Equip yourself with an extensive evaluation of key market players, their array of products, and the strategies they employ. This comprehensive understanding arms businesses with the knowledge needed to not only comprehend their rivals but also to craft strategies that position them ahead in the dynamic market arena.
Clear Market Scope and Segmentation: Gain clarity on the broad expanse of the market through the report’s clear delineation of market scope. With detailed insights into diverse market segments and their growth potential, businesses can discern and capitalize on opportunities that align with their objectives.
Insightful Regional Examination: Assess the market’s performance across different regions, enabling enterprises to pinpoint lucrative markets and tailor their approaches accordingly. With region-specific insights, businesses can adapt strategies that resonate with the unique dynamics of each area.
Evaluation of Industry Technology: Grasp the pulse of technological progress within the US Packaged Dry Beans market. The report dissects cutting-edge advancements and trends, providing businesses with a window into emerging technologies that have the potential to reshape the industry.
Dynamics of Supply and Demand: Acquire a profound comprehension of supply-demand dynamics. This understanding empowers businesses to optimize production, distribution, and inventory management processes, resulting in enhanced operational efficiency.
Informed Investment Decision Making: Leverage the report’s critical information and data-driven insights to facilitate informed investment choices within the US Packaged Dry Beans market. Equipped with this knowledge, businesses can confidently allocate resources to avenues with the greatest potential for returns.
Unveiling Long-Term Growth Avenues: Through the scrutiny of trends and growth stimulants, the report illuminates the enduring opportunities the US Packaged Dry Beans market holds. By identifying these sustainable growth prospects, businesses are poised to set a course for lasting success.
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