Analysis of Bean Pasta market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global bean pasta market is estimated to grow at a CAGR of over 12% during the forecast period (2019-2029) and reach a value pool of over US$ 7 Bn.
Bean pasta is slowly but steadily becoming popular worldwide on the dint of being a simple dish that can be prepared without much effort.
Continuing advances in gluten-free food with a jostle from the international market is creating a burgeoning pasta category from beans and legumes. This, combined with their longer shelf life, has powered this market's growth so far.
Consumers are favoring organically grown food products over the last decade because of their quality and health benefits.
Bean pasta is slowly turning to be one of the most popular pasta variants worldwide and is now on demand due to its organic aspects.
The strong nutritional quotient of pasta and widening distribution channels such as supermarkets/hypermarkets and departmental stores are other factors offering tailwinds for the bean pasta market.
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Increasing health & wellbeing issues have contributed to changing consumer habits. Such factors are shifting inclinations towards the demand for bean pasta.
Thanks to the changing customer requirement for clean-label goods, demand for bean pasta is also on the rise.
Over time, customer inclinations are constantly changing, and with these evolving tastes, their expectations are also anticipated to change.
The inability to obtain products which fulfill these demands leads consumers to switch to other brands.
Hence producers want to ultimately innovate their products. This has led producers to divert high capital for the construction of R&D facilities that could meet these growing demands.
In addition, there is a very strong competition between bean pasta manufacturers, and creativity is important to attain an edge.
Bean pasta manufacturers aim to overtake their rivals in terms of sales & regional reach. By distribution channel, store based retailing will outpace online distribution in all the key regions.
Greater product visibility coupled with smart and clean labelling will give traction to the growth of this segment.
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North America has maintained its supremacy in the global bean pasta market with a share of over 40%. The U.S. has the highest consumption of bean pasta and is also experiencing a substantial rise in the market for bean pasta due to the high demand for organic products.
Consumption of bean pasta in APAC is relatively low, due to lack of knowledge and high product pricing. Nevertheless, the market is expected to expand at a high growth rate in the coming years.
In view of the strong economic growth in Asian countries and the resulting rise in disposable income per capita, the growth rate is high.
APAC is witnessing an increase in the number of health-conscious consumers, resulting in more than 60% of consumers preferring gluten-free products.
The bean pasta market is thus expected to grow at a faster rate in Europe during the forecast period.
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The demand for bean pasta is still in its infancy, with plenty of space to develop. Analysts are hedging their bets on the future when variants of bean pasta will hit the shelves as the manufacturers emphasize 'organic' and 'gluten-free' features to ensure better product quality and nutritional benefits.
The global market for bean pasta is highly fragmented in nature where top producers and artisanal producers are scattered.
Some of the key players in the bean pasta market include Harvest Innovations, Pedon SPA, Gold Harbor and Trader Joe’s.
Furthermore, bean pasta fortification will target groups of customers based on various health parameters. Manufacturers are thus implementing strategies to enhance nutritional value of food.
The demand for fortified pasta with vitamins, calcium, minerals and natural sources of beta carotene is on the rise.
The global bean pasta market is segmented on the basis of nature, product type, pasta type, packaging type, distribution channel and region
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Country-specific assessment on demand for bean pasta has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous bean pasta manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates.
The report provides detailed competitive and company profiles of key participants operating in the global bean pasta market.
Some of the major competitors operating in the bean pasta market are:
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Some of the major competitors operating in the bean pasta market are harvest innovations, trader joe's, pedon SPA, gold harbor, jinan mintian flour Co., Ltd., ceres enterprises Ltd.
North America has maintained its supremacy in the global bean pasta market with a share of over 40%.
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