IndexBox has published a new report: ‘World – Dry Bean – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
The global dry bean market revenue amounted to $30,1 billion in 2018, reducing by 2,4% against the previous year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). In general, dry bean consumption continues to indicate a relatively flat trend pattern.
The pace of growth appeared the most rapid in 2016 with an increase of 7,7% year-on-year. In that year, the global dry bean market peaked at $31 billion. From 2017 to 2018, the growth of the global dry bean market remained at a lower figure.
Consumption by country
The countries that consumed the highest volumes of dry beans in 2018 were India (6,9 million tons), Myanmar (3,9 million tons) and Brazil (2,8 million tons), together accounting for 36% of global consumption. These countries were followed by Nigeria, Niger, the United States, Tanzania, Mexico, Kenya, Uganda, China and Burkina Faso, which together accounted for a further 34%.
From 2014 to 2018, the most notable rate of growth in terms of dry bean consumption, among the main consuming countries, was attained by China, while dry bean consumption for the other global leaders experienced more modest paces of growth.
In value terms, India ($6,9 billion) led the market. The second position in the ranking was occupied by Myanmar ($2,7 billion), followed by Nigeria.
The countries with the highest levels of dry bean per capita consumption in 2018 were Niger (111kg/person), Myanmar (72kg/person) and Burkina Faso (35kg/per person).
Market forecast to 2030
Driven by an increasing demand for dry beans worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated compound annual growth rate (CAGR) of 2,1% for the period from 2018 to 2030, which is projected to bring the market volume to 48 million tons by the end of 2030.
Production by country
The countries that produced the highest volumes of dry beans in 2018 were India (6,2 million tons), Myanmar (4,9 million tons) and Brazil (2,9 million tons), with a combined 37% share of global production. Nigeria, Niger, the United States, Tanzania, China, Mexico, Uganda, Kenya and Burkina Faso lagged somewhat behind, together comprising a further 36%.
From 2014 to 2018, the most notable rate of growth in terms of dry bean production, among the main producing countries, was attained by Niger, while dry bean production for the other global leaders experienced more modest paces of growth.
In 2018, approximately 48 million hectares of beans were harvested worldwide, down by 3,2% against the previous year. The harvested area increased at an average annual rate of 2,2% from 2014 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analysed period. The growth pace was the most rapid in 2016 when the harvested area increased by 8,8% year-on-year. From 2014 to 2018, the harvested area dedicated to dry bean production reached a maximum of 49 million hectares in 2017, and then declined slightly the following year.
Dry bean yield
In 2018, the global average dry bean yield amounted to 788kg/ha, increasing by 3,9% against the previous year. The yield figure increased at an average annual rate of 1,2% from 2014 to 2018. In 2018, the average dry bean yield reached its peak level and is likely to continue its growth in the immediate term.
Global exports amounted to 3,9 million tons in 2018, remaining relatively stable against the previous year. In value terms, dry bean exports amounted to $3,3 billion (IndexBox estimates) in 2018.
Exports by country
Myanmar was the key exporter of dry beans in the world, with the volume of exports amounting to one million tons, which was approximately 27% of total exports in 2018. The United States (439 000 tons) held an 11% share (based on tons) of total exports, which put it in second place, followed by China (10%), Argentina (8,9%) and Canada (8,8%). Brazil (162 000 tons), Ethiopia (136 000 tons), Egypt (102 000 tons), Nicaragua (83 000 tons), Australia (75 000 tons) and Kyrgyzstan (75 000 tons) followed a long way behind the leaders.
From 2014 to 2018, average annual rates of growth with regard to dry bean exports from Myanmar stood at 11,1%. At the same time, Brazil (25,7%), Australia (24,2%), Kyrgyzstan (19,2%), Argentina (8,3%), Egypt (4,8%), Nicaragua (4,2%) and Canada (3,9%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter in the world, with a CAGR of 25,7% from 2014 to 2018. By contrast, the United States (-2,5%), China (-5,7%) and Ethiopia (-12,1%) illustrated a downward trend over the same period.
Myanmar (9,1pp), Brazil (2,5pp) and Argentina (2,4pp) significantly strengthened its position in terms of the global exports, while Ethiopia and China saw its share reduced by 2,3% and 2,7% from 2014 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analysed period.
In value terms, the largest dry bean supplying countries worldwide were China ($573 million), Myanmar ($570 million) and the United States ($390 million), with a combined 47% share of global exports. Canada, Argentina, Egypt, Brazil, Nicaragua, Ethiopia, Australia and Kyrgyzstan lagged somewhat behind, together comprising a further 34%.
In terms of the main exporting countries, Australia recorded the highest growth rate in terms of export value over the period under review, while exports for the other global leaders experienced more modest paces of growth.
Export prices by country
The average dry bean export price stood at $831/ton in 2018, shrinking by 6% against the previous year. Over the period under review, the dry bean export price continues to indicate a deep decrease. The most prominent rate of growth was recorded in 2016 when it increased by 0,3% against the previous year. Over the period under review, the average export prices for dry beans attained their maximum at $1,083/ton in 2014; however, from 2015 to 2018, export prices remained at a lower figure.
There were significant differences in the average prices among the major exporting countries. In 2018, the country with the highest price was China ($1,422/ton), while Myanmar ($548/ton) was among the lowest.
From 2014 to 2018, the most notable rate of growth in terms of prices was attained by the United States, while the other global leaders experienced a decline in export price figures. – IndexBox