Canned Legumes Market Size Worth $3.50 Billion y 2027 | CAGR

4.0%: Grand View Research, Inc.

SAN FRANCISCO, July 9, 2020 /PRNewswire/ -- The global canned legumes market size is expected to reach USD 3.50 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.0% over the forecast period. Changing lifestyle, along with busy work schedule, has been increasing the demand for processed and packaged foods across the globe. In addition, high nutritional value of the product has widened the opportunity for canned legumes among the growing vegan population.

Increasing inclination of the consumers towards organic food is also observable across the globe. This trend has widened the scope of canned legumes. Furthermore, manufacturers of canned legumes are using less sugar and salt in their products owing to rising consumers' concern about the ingredients. Lately, there has been a significant rise in the demand for small serving cans that serve single person.

Key suggestions from the report:

• In terms of product, beans dominated the market for canned legumes with over 45.0% share of the global revenue in 2019 on account of increasing awareness among consumers regarding health benefits associated with various beans
• North America is expected to register the fastest CAGR of 4.7% from 2020 to 2027 owing to growing demand for convenience food in U.S.
• Offline distribution channel dominated the market in 2019 and accounted for more than 70.0% share of the global revenue. Increased importance of such channels for providing a choice of physical verification to the buyers while purchasing is expected to boost the growth of offline channel
• Product innovation is expected to remain one of the key success factors among industry players in order to maintain a competitive edge.

Read 80 page research report with ToC on "Canned Legumes Market Size, Share & Trends Analysis Report By Product (Beans, Peas, Chickpeas), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/canned-legumes-market

Europe led the market with more than 50.0% share in 2019. High demand for convenient food, along with growing vegan population, has driven the market in Europe. In addition, increasing popularity of the ethnical cuisines, such as Japanese, Mediterranean, and Indian, is boosting the demand for several beans and pulses including chickpeas, lupin beans, adzuki beans, fava beans, and lentils.