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Bean Flour Market Share

Report ID: GMI11629
Published Date: Sep 2024
Report Format: PDF

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Bean Flour Market Share

The competitive landscape of the global bean flour industry is characterized by the presence of key players who are leveraging various strategies to enhance their market presence. The industry includes both large multinational companies and smaller regional players who are catering to the growing demand for bean-based products.

The bean flour market is fragmented, with a mix of global and local companies offering diverse bean flour products. These companies compete based on factors such as product quality, pricing, sustainability initiatives, and innovation in product offerings. The increasing consumer demand for plant-based and gluten-free products has attracted new entrants into the market, further intensifying the competition.

Leading companies in the bean flour market are focusing on diversifying their product portfolios to cater to a broad range of consumers. This includes offering different types of bean flour (e.g., chickpea, black bean, lentil) as well as blending them with other flours to create unique nutritional profiles. Investment in research and development (R&D) has allowed companies to introduce new products and improve the quality and shelf-life of bean flour. For instance, companies are exploring new processing techniques to reduce the bean flour’s bitter aftertaste, which has historically been a challenge for manufacturers.

Bean Flour Market Companies

Top companies operating in the bean flour industry include:

Nikken Foods
Ardent Mills
Arva Flour Mill
Avena Foods Limited
Ingredion
Jiangsu Zhenya Biotechnology
Living Foods
Molendum Ingredients
Sakhti Soyas Limited
Vestkorn

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of bean flour reached USD 2.9 billion in 2023 and is set to grow at a 6.8% CAGR from 2024 to 2032, led by increasing consumer preferences for gluten-free, high-protein, and plant-based products.

The black bean flour segment held USD 535.5 million in 2023 and is anticipated to expand at a 7.1% CAGR during 2024-2032, due to its nutrient-rich profile, particularly its high fiber and protein content, appealing to health-conscious consumers and finding increasing use in gluten-free baking and plant-based snacks.

The bean flour market size from the food & beverage segment was valued at USD 2.2 billion in 2023 and is expected to grow at a 7% CAGR from 2024 to 2032.

The supermarkets/hypermarkets segment was valued at USD 1 billion in 2023 and is projected to grow at a 7.2% CAGR from 2024 to 2032. Supermarkets and hypermarkets remain the primary distribution channels for bean flour, offering a wide range of options to consumers seeking gluten-free, vegan, or specialty flours.

The North America market was valued at USD 1.1 billion in 2023 and is expected to grow at a 7.4% CAGR, driven by strong consumer demand for gluten-free and plant-based products.