Global Shelled Beans Market: Volume to Reach 12M Tons and Value to Hit $7.9B by 2030

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Driven by global demand, the market for shelled beans (dry) is expected to see significant growth, with market volume projected to reach 12M tons and market value to reach $7.9B by the end of 2030. This growth trend is forecasted to continue at a steady pace, reflecting the growing popularity and consumption of shelled beans on a global scale.

Market Forecast

Driven by increasing demand for shelled beans (dry) worldwide, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.3% for the period from 2023 to 2030, which is projected to bring the market volume to 12M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2023 to 2030, which is projected to bring the market value to $7.9B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Shelled Beans (Dry)

In 2023, the amount of shelled beans (dry) consumed worldwide contracted to 9.6M tons, waning by -7.1% compared with the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Global consumption peaked at 10M tons in 2022, and then shrank in the following year.

The global shelled bean market size declined modestly to $5.5B in 2023, which is down by -4.3% against 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, showed a relatively flat trend pattern. Global consumption peaked at $6B in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2023 were Nigeria (4.2M tons), Niger (2.3M tons) and Burkina Faso (642K tons), with a combined 74% share of global consumption. Ghana, Mali, Senegal, Kenya, Cameroon, Sudan and the United States lagged somewhat behind, together accounting for a further 15%.

From 2013 to 2023, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Senegal (with a CAGR of +13.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Nigeria ($2.3B) led the market, alone. The second position in the ranking was taken by Niger ($947M). It was followed by Senegal.

In Nigeria, the shelled bean market shrank by an average annual rate of -1.1% over the period from 2013-2023. In the other countries, the average annual rates were as follows: Niger (+2.7% per year) and Senegal (+19.2% per year).

In 2023, the highest levels of shelled bean per capita consumption was registered in Niger (84 kg per person), followed by Burkina Faso (28 kg per person), Nigeria (19 kg per person) and Mali (11 kg per person), while the world average per capita consumption of shelled bean was estimated at 1.2 kg per person.

From 2013 to 2023, the average annual growth rate of the shelled bean per capita consumption in Niger stood at -1.5%. In the other countries, the average annual rates were as follows: Burkina Faso (-2.1% per year) and Nigeria (-3.5% per year).

Production

World Production of Shelled Beans (Dry)

In 2023, the amount of shelled beans (dry) produced worldwide shrank to 9.9M tons, falling by -5.1% on the year before. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 27%. Over the period under review, global production hit record highs at 10M tons in 2022, and then contracted in the following year. The general positive trend in terms output was largely conditioned by a relatively flat trend pattern of the harvested area and a mild descent in yield figures.

In value terms, shelled bean production declined slightly to $5.6B in 2023 estimated in export price. Overall, production, however, recorded slight growth. The most prominent rate of growth was recorded in 2016 with an increase of 33%. Over the period under review, global production attained the peak level at $6.2B in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2023 were Nigeria (4.2M tons), Niger (2.3M tons) and Burkina Faso (642K tons), with a combined 71% share of global production. Ghana, the United States, Mali, Canada, Senegal, Kenya, Cameroon, Sudan and Tanzania lagged somewhat behind, together comprising a further 19%.

From 2013 to 2023, the biggest increases were recorded for Senegal (with a CAGR of +13.5%), while production for the other global leaders experienced more modest paces of growth.

Yield

In 2023, the global average shelled bean yield reduced slightly to 665 kg per ha, waning by -3.3% compared with 2022. Overall, the yield showed a mild decline. The growth pace was the most rapid in 2016 with an increase of 12%. The global yield peaked at 751 kg per ha in 2013; however, from 2014 to 2023, the yield remained at a lower figure.

Harvested Area

In 2023, approx. 15M ha of shelled beans (dry) were harvested worldwide; dropping by -1.8% against 2022. The harvested area increased at an average annual rate of +2.0% over the period from 2013 to 2023; 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 2016 with an increase of 13%. Over the period under review, the harvested area dedicated to shelled bean production attained the maximum at 15M ha in 2022, and then reduced slightly in the following year.

Imports

World Imports of Shelled Beans (Dry)

In 2023, the amount of shelled beans (dry) imported worldwide expanded markedly to 500K tons, growing by 5.1% against the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 34%. As a result, imports reached the peak of 694K tons. From 2018 to 2023, the growth of global imports failed to regain momentum.

In value terms, shelled bean imports expanded sharply to $508M in 2023. The total import value increased at an average annual rate of +1.4% from 2013 to 2023; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 36% against the previous year. Global imports peaked in 2023 and are expected to retain growth in the immediate term.

Imports By Country

The United States represented the largest importer of shelled beans (dry) in the world, with the volume of imports recording 130K tons, which was near 26% of total imports in 2023. The Dominican Republic (55K tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by India (9.3%), Pakistan (8.4%), Afghanistan (5.4%) and Vietnam (4.7%). The following importers - Angola (15K tons), Japan (14K tons), Canada (11K tons), Rwanda (11K tons) and Haiti (9K tons) - together made up 12% of total imports.

Imports into the United States increased at an average annual rate of +5.4% from 2013 to 2023. At the same time, Rwanda (+49.2%), Vietnam (+18.6%), the Dominican Republic (+9.4%), Pakistan (+8.4%) and Angola (+7.5%) displayed positive paces of growth. Moreover, Rwanda emerged as the fastest-growing importer imported in the world, with a CAGR of +49.2% from 2013-2023. Haiti experienced a relatively flat trend pattern. By contrast, Afghanistan (-2.7%), Japan (-3.5%), Canada (-8.1%) and India (-10.1%) illustrated a downward trend over the same period. From 2013 to 2023, the share of the United States, the Dominican Republic, Pakistan, Vietnam, Rwanda and Angola increased by +11, +6.6, +4.7, +3.9, +2.2 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($159M) constitutes the largest market for imported shelled beans (dry) worldwide, comprising 31% of global imports. The second position in the ranking was held by the Dominican Republic ($62M), with a 12% share of global imports. It was followed by India, with a 7.5% share.

From 2013 to 2023, the average annual rate of growth in terms of value in the United States totaled +5.6%. In the other countries, the average annual rates were as follows: the Dominican Republic (+10.5% per year) and India (-7.6% per year).

Import Prices By Country

In 2023, the average shelled bean import price amounted to $1,017 per ton, growing by 4.7% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2019 when the average import price increased by 33%. Global import price peaked in 2023 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($1,446 per ton), while Rwanda ($218 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Angola (+6.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Shelled Beans (Dry)

In 2023, approx. 797K tons of shelled beans (dry) were exported worldwide; increasing by 41% against 2022 figures. Overall, total exports indicated a noticeable increase from 2013 to 2023: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The global exports peaked at 837K tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, shelled bean exports surged to $891M in 2023. In general, total exports indicated strong growth from 2013 to 2023: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2023, the United States (239K tons) and Canada (231K tons) represented the key exporters of shelled beans (dry)around the world, together recording approx. 59% of total exports. Uzbekistan (72K tons) held the next position in the ranking, followed by Madagascar (51K tons), Tanzania (47K tons) and Uganda (36K tons). All these countries together held near 26% share of total exports. Afghanistan (22K tons) followed a long way behind the leaders.

From 2013 to 2023, the biggest increases were recorded for Tanzania (with a CAGR of +28.9%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest shelled bean supplying countries worldwide were the United States ($271M), Canada ($240M) and Uzbekistan ($197M), with a combined 79% share of global exports.

Among the main exporting countries, Uzbekistan, with a CAGR of +37.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average shelled bean export price stood at $1,119 per ton in 2023, rising by 9.1% against the previous year. In general, export price indicated a slight expansion from 2013 to 2023: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, shelled bean export price increased by +29.5% against 2021 indices. The growth pace was the most rapid in 2019 an increase of 28%. Over the period under review, the average export prices reached the peak figure in 2023 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Uzbekistan ($2,731 per ton), while Madagascar ($362 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (+22.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform