Global Green Beans Market to Grow at +2.0% CAGR until 2030, Reaching 29M Tons

IndexBox has just published a new report: World - Green Beans - Market Analysis, Forecast, Size, Trends and Insights.

Driven by a growing demand for green beans worldwide, the market is projected to see continued growth from 2023 to 2030. Consumption trends have shown an upward trajectory, with an anticipated CAGR of +2.0% in volume and +4.0% in value. China leads in both consumption and production, with significant contributions to the global market. Import and export trends also indicate steady growth, with countries like Morocco, France, and China emerging as key players in the green bean market.

Market Forecast

Driven by increasing demand for green beans worldwide, the market is expected to continue an upward consumption trend over the next seven-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.0% for the period from 2023 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 +4.0% for the period from 2023 to 2030, which is projected to bring the market value to $55B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Green Beans

In 2023, after two years of decline, there was growth in consumption of green beans, when its volume increased by 1.2% to 25M tons. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak volume of 26M tons. From 2016 to 2023, the growth of the global consumption failed to regain momentum.

The global green bean market revenue rose to $41.9B in 2023, surging by 2.1% 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 +3.0% from 2013 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the global market hit record highs at $42.7B in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Consumption By Country

The country with the largest volume of green bean consumption was China (18M tons), accounting for 72% of total volume. Moreover, green bean consumption in China exceeded the figures recorded by the second-largest consumer, Indonesia (919K tons), more than tenfold. The third position in this ranking was held by the United States (777K tons), with a 3.1% share.

From 2013 to 2023, the average annual rate of growth in terms of volume in China was relatively modest. The remaining consuming countries recorded the following average annual rates of consumption growth: Indonesia (+0.4% per year) and the United States (-1.2% per year).

In value terms, China ($19.4B) led the market, alone. The second position in the ranking was held by Indonesia ($2.7B). It was followed by the United States.

From 2013 to 2023, the average annual rate of growth in terms of value in China totaled +4.3%. In the other countries, the average annual rates were as follows: Indonesia (+3.3% per year) and the United States (-1.6% per year).

The countries with the highest levels of green bean per capita consumption in 2023 were China (13 kg per person), France (8 kg per person) and Turkey (6.9 kg per person).

From 2013 to 2023, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by France (with a CAGR of +5.8%), while consumption for the other global leaders experienced mixed trends in the per capita consumption figures.

Production

World Production of Green Beans

Global green bean production stood at 25M tons in 2023, therefore, remained relatively stable against 2022. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 9.1%. As a result, production attained the peak volume of 26M tons. From 2016 to 2023, global production growth failed to regain momentum. 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 totaled $41.9B in 2023 estimated in export price. In general, production posted prominent growth. The pace of growth was the most pronounced in 2016 with an increase of 109%. As a result, production attained the peak level of $47.2B. From 2017 to 2023, global production growth failed to regain momentum.

Production By Country

China (18M tons) constituted the country with the largest volume of green bean production, accounting for 72% of total volume. Moreover, green bean production in China exceeded the figures recorded by the second-largest producer, Indonesia (921K tons), more than tenfold. The third position in this ranking was held by the United States (693K tons), with a 2.8% share.

In China, green bean production remained relatively stable over the period from 2013-2023. The remaining producing countries recorded the following average annual rates of production growth: Indonesia (+0.4% per year) and the United States (-1.9% per year).

Yield

In 2023, the global average green bean yield stood at 14 tons per ha, therefore, remained relatively stable against the previous year. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 5.7% against the previous year. As a result, the yield reached the peak level of 15 tons per ha. From 2016 to 2023, the growth of the average green bean yield remained at a somewhat lower figure.

Harvested Area

In 2023, the global green bean harvested area was estimated at 1.7M ha, approximately equating the previous year. In general, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 3.2%. As a result, the harvested area attained the peak level of 1.8M ha. From 2016 to 2023, the growth of the global green bean harvested area failed to regain momentum.

Imports

World Imports of Green Beans

In 2023, supplies from abroad of green beans decreased by -3.1% to 611K tons, falling for the second year in a row after two years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 12%. Global imports peaked at 686K tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, green bean imports stood at $1.1B in 2023. The total import value increased at an average annual rate of +1.4% over the period from 2013 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, global imports attained the peak figure at $1.1B in 2021; afterwards, it flattened through to 2023.

Imports By Country

The United States (116K tons), Spain (101K tons) and Belgium (100K tons) represented roughly 52% of total imports in 2023. It was distantly followed by the Netherlands (51K tons), France (45K tons) and the UK (30K tons), together committing a 21% share of total imports. Canada (26K tons), Germany (24K tons), Italy (19K tons), Singapore (13K tons) and Madagascar (11K tons) took a little share of total imports.

From 2013 to 2023, the biggest increases were recorded for Madagascar (with a CAGR of +9.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest green bean importing markets worldwide were the United States ($232M), Spain ($180M) and the Netherlands ($124M), together comprising 47% of global imports.

The United States, with a CAGR of +8.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2023, the average green bean import price amounted to $1,851 per ton, growing by 13% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of +1.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 the UK ($3,333 per ton), while Madagascar ($232 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Green Beans

In 2023, shipments abroad of green beans decreased by -5.2% to 618K tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 21%. Over the period under review, the global exports reached the maximum at 749K tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, green bean exports expanded significantly to $1.2B in 2023. In general, total exports indicated a noticeable expansion from 2013 to 2023: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by +56.7% against 2015 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 19%. The global exports peaked in 2023 and are likely to see steady growth in years to come.

Exports By Country

Morocco (120K tons) and France (116K tons) were the largest exporters of green beans in 2023, recording approx. 19% and 19% of total exports, respectively. China (65K tons) ranks next in terms of the total exports with a 10% share, followed by Mexico (9.3%), Guatemala (5.2%), the United States (5.2%) and Kenya (4.6%). The Netherlands (27K tons), Senegal (23K tons), Spain (14K tons), Egypt (13K tons), Malaysia (11K tons) and Germany (10K tons) took a minor share of total exports.

From 2013 to 2023, the biggest increases were recorded for China (with a CAGR of +40.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest green bean supplying countries worldwide were Morocco ($254M), China ($175M) and Kenya ($117M), together comprising 45% of global exports.

China, with a CAGR of +70.7%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2023, the average green bean export price amounted to $1,973 per ton, growing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kenya ($4,131 per ton), while Malaysia ($729 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by China (+21.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform