Dry Bean Market

The global dry bean market is expected to see continued growth in both consumption and production over the next eight years. Consumption increased in 2022, with India, Nigeria, and Niger being the top consuming countries. Production also rose in the same year, with India, Nigeria, and Niger leading the way. Global imports and exports of dry beans also show fluctuations in volume and value, with Myanmar being the top exporting country in terms of value. The average dry bean import price remained stable in 2022, and export prices varied by country of origin. Overall, the market is forecasted to expand with positive growth rates in the coming years.

Market Forecast

Driven by increasing demand for beans (dry) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 46M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market value to $77.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Dry Bean

In 2022, consumption of beans (dry) increased by 4.6% to 39M tons, rising for the third year in a row after two years of decline. The total consumption volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 9.3% against the previous year. Over the period under review, global consumption attained the peak volume in 2022 and is expected to retain growth in the near future.

The global dry bean market value stood at $57.7B in 2022, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a relatively flat trend pattern. Global consumption peaked at $62B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were India (7.3M tons), Nigeria (4.1M tons) and Niger (2.9M tons), together accounting for 37% of global consumption. Brazil, China, Tanzania, Uganda, Myanmar, Mexico, the United States, Burkina Faso, Kenya and Cameroon lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +23.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Nigeria ($27B) led the market, alone. The second position in the ranking was taken by India ($7.4B). It was followed by China.

In Nigeria, the dry bean market decreased by an average annual rate of -3.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: India (+3.7% per year) and China (+28.2% per year).

In 2022, the highest levels of dry bean per capita consumption was registered in Niger (113 kg per person), followed by Burkina Faso (40 kg per person), Uganda (27 kg per person) and Tanzania (23 kg per person), while the world average per capita consumption of dry bean was estimated at 5 kg per person.

From 2012 to 2022, the average annual growth rate of the dry bean per capita consumption in Niger totaled +3.8%. In the other countries, the average annual rates were as follows: Burkina Faso (+0.2% per year) and Uganda (+0.6% per year).

Production

World Production of Dry Bean

In 2022, production of beans (dry) increased by 3.3% to 39M tons, rising for the third year in a row after two years of decline. The total output volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 9.7% against the previous year. Over the period under review, global production hit record highs in 2022 and is likely to see gradual growth in the immediate term. The general positive trend in terms output was largely conditioned by a mild expansion of the harvested area and a relatively flat trend pattern in yield figures.

In value terms, dry bean production fell to $33B in 2022 estimated in export price. In general, production, however, continues to indicate a precipitous decline. The pace of growth appeared the most rapid in 2016 when the production volume increased by 21%. Over the period under review, global production hit record highs at $527.5B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were India (6.6M tons), Nigeria (4.1M tons) and Niger (2.9M tons), together comprising 35% of global production.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +7.9%), while production for the other global leaders experienced more modest paces of growth.

Yield

In 2022, the global average yield of beans (dry) stood at 749 kg per ha, with an increase of 1.6% on 2021. In general, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 3.8%. Over the period under review, the average dry bean yield hit record highs at 820 kg per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure.

Harvested Area

In 2022, approx. 53M ha of beans (dry) were harvested worldwide; rising by 1.7% compared with the previous year. The harvested area increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 with an increase of 11% against the previous year. The global harvested area peaked in 2022 and is expected to retain growth in the near future.

Imports

World Imports of Dry Bean

Global dry bean imports was estimated at 4.4M tons in 2022, picking up by 2% against the previous year's figure. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 10% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, dry bean imports rose slightly to $4.6B in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 19%. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

India (781K tons) and China (766K tons) represented roughly 36% of total imports in 2022. It was distantly followed by the United States (205K tons), constituting a 4.7% share of total imports. The following importers - Pakistan (136K tons), Italy (129K tons), Vietnam (124K tons), the UK (119K tons), Turkey (115K tons), Japan (112K tons), the United Arab Emirates (87K tons), Indonesia (85K tons), Mexico (76K tons) and Brazil (76K tons) - together made up 24% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +34.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest dry bean importing markets worldwide were India ($722M), China ($690M) and the United States ($270M), together comprising 36% of global imports.

In terms of the main importing countries, China, with a CAGR of +36.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average dry bean import price stood at $1,064 per ton in 2022, remaining stable against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 12% against the previous year. Over the period under review, average import prices hit record highs at $1,104 per ton in 2014; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($1,779 per ton), while Pakistan ($705 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Dry Bean

In 2022, after two years of growth, there was significant decline in overseas shipments of beans (dry), when their volume decreased by -7.1% to 4.6M tons. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. Over the period under review, the global exports attained the peak figure at 5M tons in 2021, and then shrank in the following year.

In value terms, dry bean exports contracted to $4.5B in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 17% against the previous year. Over the period under review, the global exports hit record highs at $4.9B in 2021, and then declined in the following year.

Exports By Country

Myanmar represented the main exporting country with an export of about 1.5M tons, which resulted at 33% of total exports. Argentina (424K tons) held the second position in the ranking, followed by the United States (348K tons), Canada (322K tons) and Uzbekistan (224K tons). All these countries together held near 28% share of total exports. The following exporters - China (153K tons), Ethiopia (139K tons), Egypt (139K tons), Brazil (136K tons), Australia (116K tons), Turkey (99K tons), Nicaragua (90K tons) and Tanzania (71K tons) - together made up 20% of total exports.

Exports from Myanmar increased at an average annual rate of +2.0% from 2012 to 2022. At the same time, Turkey (+53.2%), Uzbekistan (+22.8%), Tanzania (+15.9%), Brazil (+12.1%), Egypt (+7.1%), Nicaragua (+5.9%), Argentina (+2.0%), Canada (+2.0%) and Australia (+1.8%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +53.2% from 2012-2022. Ethiopia experienced a relatively flat trend pattern. By contrast, the United States (-3.8%) and China (-16.6%) illustrated a downward trend over the same period. Uzbekistan (+4.8 p.p.), Myanmar (+4.3 p.p.), Turkey (+2.1 p.p.) and Brazil (+1.9 p.p.) significantly strengthened its position in terms of the global exports, while the United States and China saw its share reduced by -4.3% and -18.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Myanmar ($1.2B) remains the largest dry bean supplier worldwide, comprising 27% of global exports. The second position in the ranking was taken by the United States ($402M), with an 8.9% share of global exports. It was followed by Canada, with a 7.8% share.

In Myanmar, dry bean exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (-1.0% per year) and Canada (+1.3% per year).

Export Prices By Country

The average dry bean export price stood at $970 per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 13%. As a result, the export price attained the peak level of $1,191 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($1,956 per ton), while Tanzania ($511 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform