Black Beans, also known as black kidney beans, kala rajma, and kala ghevda, are a type of legume that provides a wide range of nutrients and health benefits to the human body. They are known to be rich in protein, potassium, iron, vitamins, and fibre, with a dense, meaty texture. Black beans are often used in vegetarian dishes, providing a great enhancement of taste and enriching the dish with extra nutrients.
Introduction:
The global black beans market is expected to witness significant growth during the forecasted period of 2024-2029 due to several factors, such as the increase in consumption of plant-based foods and protein, which was further influenced by the increase in health-conscious consumers in the market. The increase in growth of health-conscious consumers in the market will boost the awareness of the health benefits that black beans provide, further increasing the market growth during the forecast period.
Market Drivers:
- Health Benefits: Black beans are known to provide a wide range of health benefits that help in the improvement of the human body. Black Beans have been a staple diet for at least 7000 years in the North American region. Black beans provide maximum nutrition with very little fat or sugar content, making them a nutritious legume for consumption. The increasing growth of health-conscious consumers in the market will drive the black bean market growth, due to the increase in awareness of the benefits that black beans provide. Black beans provide a wide range of benefits to a person's diet, which include
- High nutrition: One cup of black beans contains 15 grams of protein and fibre, making it a suitable option for plant-based diets. It also contains various vitamins and minerals, 64% of the daily folate requirement, and is rich in copper, manganese, magnesium, iron, selenium, and thiamine.
- Rich in Antioxidants: Antioxidants from black beans provide counteraction towards oxidative stress, which helps in the reduction of risk of chronic health conditions such as heart disease, type 2 diabetes, and some cancers. It also contains a significant number of polyphenols like anthocyanins and flavonoids, such as catechin, myricetin, kaempferol, and quercetin, that help fight cancer cells.
- Improves heart health: Black beans contain a high amount of fibre and no cholesterol. Fibre helps in lowering the amount of bad cholesterol in the blood and the vitamins help prevent the build-up of homocysteine, reducing the damage of blood vessels.
- Good for diabetics: Nutrients found in black beans help boost insulin sensitivity, which further leads to the reduction of blood sugar. They are also good for diabetics due to the properties of not increasing blood sugar while consumed, helping maintain a healthy and stable body.
- Increasing demand for plant-based protein: The increase in demand for plant-based protein is expected to increase the black bean market growth, due to the increase in consumption of plant-based products worldwide. Black beans are considered a good healthy alternative due to their high amount of various nutrients and minerals, providing improved body health. As per ASSOCHAM, the global market for plant-based protein is expected to increase to reach a value of US$162 billion by 2030, which will account for 7.7% of the world protein market. This increase in growth of the plant-based protein will provide the necessary boost towards the global black beans market growth during the forecasted period of 2024-2029.
Key Players:
- Conagra Brands, Inc.: A well-known company known for the manufacturing and distribution of several branded food products, ingredients, and food service items. They are known for offering black bean products as well, which include the Ranch Style Black Label Beans.
- Nikken Foods: A company known for the manufacturing of food products and ingredients, including black bean products such as the Black Bean Powder, which is a vacuum-dried black bean paste.
Regional Analysis:
The North American region is expected to witness significant growth in the black beans market during the forecasted period of 2024-2029. The factors that affect the market growth is the increasing growth of the plant-based industry in the region, which is further influenced by the increasing population of the region. Black beans serve a very major role in the plant-based industry due to the high protein content that black beans contain. These beans are known to be a widely consumed legume in the North American region and have been a stable food of the Americas. The United States Department of Agriculture displays the increase in growth of the overall black bean production in the United States, which accounts for an estimated increase from 4.60 million hundredweight in 2021 to 6.70 million hundredweight in 2023. This increase in the production of black beans can be linked to the increase in demand for plant-based foods in the United States. The Plant-Based Association states that the US retail sales of plant-based foods displayed an increase, which displayed a growth of 6.2% from 2020 to 2021, with a valuation of the total plant-based market reaching US$7.4 billion. It also displays an increase of growth of 54% during the period of 2019 to 2021. ASSOCHAM also states that the plant-based protein market is expected to reach an estimated $40 billion by 2030. The increase in consumption of plant-based foods and protein will drive the regional black beans market growth during the forecasted period.
Market Developments:
- June 2021: Conagra Brands Inc. announced the launch of several product innovations during the summer of 2021. This includes various products ranging from meals to sides that are bursting with flavour and quality. These products are also plant-based offerings that deliver great taste, convenience, and value that is perfect for any occasion. The various products in the portfolio include a black beans product dubbed Gardein Ultimate Veggie Burger range, which consists of the Ultimate Black Bean Burger that is made from black beans, quinoa, cauliflower, red bell peppers, and avocado puree. This product range also contains two more different varieties, which include the Ultimate Chickpea Burger, and the Ultimate Felafel Burger.
Segmentation:
- By Product Type:
- Black Beans (Dry)
- Canned Black Beans
- Black Bean Powder
- Others
- By Application:
- Food & Beverage
- Dietary Supplements
- Animal Feed
- Others
- By Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Online Retail
- Specialty Stores
- Others
- By Geography:
- North America
- United States
- Canada
- Mexico
- South America
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Others
- Middle East and Africa
- Asia Pacific
- Japan
- China
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others