The Global Canned Beans Market was valued at USD 92.0 Billion in 2018, and is expected to register a CAGR of 3.5% during forecast period 2020–2026. Change in lifestyle, rise in the working population, increasing demand for healthier food and easy consumption coupled with growing health concerns are the key factors driving the market growth.
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Beans are popular form of nutritional value and also one of the most planted species in the world. However, instant foods have taken the food industry by storm and food packaging turns out to be one of the lucrative business within the food and beverages sector. Modern consumer demands and industrially processed beans have gained a wide attention owing to the rise in consumer needs for consumption of processed canned beans. In fact, canned beans can prove as a good substitute for preparing dry packaged beans that comprise solids and liquids termed as brine that enhances the sodium content when consumed in minute quantities. In addition, consumption of dried beans develops a good diet quality and minimizes health risks. However, many consumers are unfamiliar with the concept of dried beans.
Canned beans are also a form of dry beans having a high share of starch, fibers, vitamins and minerals. Beans have a culinary aspects that enable them to be viable alternatives to fulfil demand of consumers across the world, thus adding value to the food and reducing cooking times. The nutrient composition for canned beans mainly involves edibility levels without addition of sodium and fat prior cooking. On the commercial basis, pricing for canned beans is mostly based on nutrient levels offered
Canned Beans Market Drivers:
Canned beans market is driven by increase in the health benefits offered to consumers. The canned beans market witnessed a high growth curve owing to significance of canned beans to first time users as the products offer a high convenience. Rise in health concerns, and growing demand for healthy food is likely to trigger the demand for canned beans in the long term. In addition, growth in working population followed by rise in preference for convenient foods is likely to propel the market growth. However, use of chemical additive such as Bisphenol A during packaging is most probably to relay harmful effects on human health. In addition, other restraints such as poor packaging and low quality of food ingredients due to exposure to moisture is constricting the market growth.