Green Bean Market

The global green bean market is expected to see an upward consumption trend over the next decade, with forecasted increases in both volume and value. China remains the largest consumer and producer of green beans, with significant growth rates in both areas. The market also sees fluctuations in import and export volumes and prices, with various countries playing key roles in these aspects. Overall, the green bean market is set to see continued growth and development in the coming years.

Market Forecast

Driven by increasing demand for green beans worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 29M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $55B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Green Beans

Global green bean consumption contracted modestly to 25M tons in 2022, falling by -2% on the previous year's figure. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak volume of 26M tons. From 2016 to 2022, the growth of the global consumption failed to regain momentum.

The global green bean market value reduced modestly to $41B in 2022, dropping by -3.9% 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). The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the peak level at $42.7B in 2021, and then declined slightly in the following year.

Consumption By Country

China (18M tons) remains the largest green bean consuming country worldwide, accounting for 73% of total volume. Moreover, green bean consumption in China exceeded the figures recorded by the second-largest consumer, Indonesia (922K tons), more than tenfold. The third position in this ranking was held by the United States (762K tons), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. In the other countries, the average annual rates were as follows: Indonesia (+0.6% per year) and the United States (-2.2% per year).

In value terms, China ($19B) led the market, alone. The second position in the ranking was held by Indonesia ($2.5B). It was followed by the United States.

In China, the green bean market expanded at an average annual rate of +5.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+3.3% per year) and the United States (-1.5% per year).

The countries with the highest levels of green bean per capita consumption in 2022 were China (13 kg per person), Turkey (6.9 kg per person) and Indonesia (3.3 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by China (with a CAGR of +0.5%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.

Production

World Production of Green Beans

After two years of growth, production of green beans decreased by -2.1% to 25M tons in 2022. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 9.1% against the previous year. As a result, production reached the peak volume of 26M tons. From 2016 to 2022, global production growth remained at a lower figure. The general positive trend in terms output was largely conditioned by a relatively flat trend pattern of the harvested area and a relatively flat trend pattern in yield figures.

In value terms, green bean production dropped to $40.3B in 2022 estimated in export price. Overall, production, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 when the production volume increased by 109% against the previous year. As a result, production reached the peak level of $47.2B. From 2017 to 2022, global production growth failed to regain momentum.

Production By Country

China (18M tons) constituted the country with the largest volume of green bean production, comprising approx. 73% of total volume. Moreover, green bean production in China exceeded the figures recorded by the second-largest producer, Indonesia (923K tons), more than tenfold. The third position in this ranking was held by the United States (677K tons), with a 2.7% share.

In China, green bean production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+0.6% per year) and the United States (-3.0% per year).

Yield

In 2022, the global average green bean yield dropped slightly to 14 tons per ha, waning by -1.7% compared with the year before. Overall, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by 5.7% against the previous year. As a result, the yield reached the peak level of 15 tons per ha. From 2016 to 2022, the growth of the average green bean yield remained at a somewhat lower figure.

Harvested Area

In 2022, the total area harvested in terms of green beans production worldwide shrank modestly to 1.7M ha, remaining relatively unchanged against the year before. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the harvested area increased by 3.2% against the previous year. As a result, the harvested area attained the peak level of 1.8M ha. From 2016 to 2022, the growth of the global green bean harvested area remained at a lower figure.

Imports

World Imports of Green Beans

In 2022, after two years of growth, there was significant decline in overseas purchases of green beans, when their volume decreased by -8.1% to 631K tons. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 16% against the previous year. Global imports peaked at 686K tons in 2021, and then declined in the following year.

In value terms, green bean imports contracted to $1B in 2022. The total import value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 16% against the previous year. Over the period under review, global imports attained the peak figure at $1.1B in 2021, and then declined in the following year.

Imports By Country

In 2022, Spain (114K tons), the United States (112K tons) and Belgium (95K tons) was the main importer of green beans in the world, committing 51% of total import. The Netherlands (55K tons) held an 8.7% share (based on physical terms) of total imports, which put it in second place, followed by France (8.6%) and the UK (5.2%). Canada (27K tons), Germany (25K tons), Italy (19K tons), Singapore (12K tons), Tanzania (11K tons) and Madagascar (9.8K tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Tanzania (with a CAGR of +61.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($207M), Spain ($156M) and the Netherlands ($119M) constituted the countries with the highest levels of imports in 2022, together accounting for 47% of global imports. France, the UK, Canada, Germany, Belgium, Italy, Singapore, Madagascar and Tanzania lagged somewhat behind, together accounting for a further 43%.

Among the main importing countries, Tanzania, with a CAGR of +44.2%, recorded the highest growth rate of 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 green bean import price stood at $1,632 per ton in 2022, almost unchanged from the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 8%. As a result, import price reached the peak level of $1,770 per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 the UK ($2,969 per ton), while Tanzania ($103 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Green Beans

After two years of growth, overseas shipments of green beans decreased by -13% to 652K tons in 2022. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 21% against the previous year. Over the period under review, the global exports reached the maximum at 749K tons in 2021, and then contracted in the following year.

In value terms, green bean exports contracted to $1.1B in 2022. Over the period under review, total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.2% against 2015 indices. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. The global exports peaked at $1.2B in 2021, and then dropped in the following year.

Exports By Country

In 2022, Morocco (134K tons), France (109K tons), China (81K tons) and Mexico (56K tons) represented the key exporter of green beans in the world, making up 58% of total export. Guatemala (33K tons) held the next position in the ranking, followed by the Netherlands (31K tons). All these countries together held near 9.9% share of total exports. The following exporters - the United States (27K tons), Kenya (26K tons), Spain (19K tons), Senegal (19K tons), Egypt (13K tons), the UK (12K tons) and Germany (11K tons) - together made up 20% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +36.0%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest green bean supplying countries worldwide were Morocco ($241M), China ($179M) and Kenya ($103M), together accounting for 46% of global exports.

In terms of the main exporting countries, China, with a CAGR of +63.6%, saw the highest rates of growth with regard to 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

In 2022, the average green bean export price amounted to $1,757 per ton, growing by 8.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2017 when the average export price increased by 9.1%. The global export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kenya ($3,901 per ton), while the UK ($461 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+20.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform