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Bambara Beans Market by Nature (Organic, Synthetic), by Application (Dairy Alternative, Flour, Animal Feed, Dietary Supplements, Snack Foods, and Cooking Ingredient), by Distribution Channel (Specialty Stores, Online Stores, Hypermarkets/Supermarkets, Indirect Sales (B2C), Direct Sales (B2B), and Other Retailers), and Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa, and Rest of the world) – Industry Size, Share, Trends, Demand, Growth, Value and Competitive Analysis Forecast Report 2023-2028

Published: March, 2023
ID: 10726
Pages: 150
Formats: report pdf report excel report power bi report ppt

Bambara Beans Market Size, Share, Growth (2023-2028)

Bambara Beans Market was at USD 112.8 million in 2023 to USD 199 million by 2028, recording a CAGR of 5.8% throughout the foreseen period 2023-2028.

Bambara Beans Market overview:

The Bambara beans is a reliable and inexpensive agricultural resource that thrives in harsh environments where other crops can fail. Recognized as a complete food, the Bambara bean contains an average of 19% protein and around 6.5% fat, making it a vital source of dietary protein. Bambara beans are very tolerant of poor soil quality and drought where they are grown. Bambara bean leaves are rich in potassium and therefore are an excellent source of animal nutrition. Beans are difficult to harvest mechanically, and therefore large commercial farmers refrain from growing Bambara beans, making them an ideal crop for small farmers. Bambara beans are widely used in food and beverages due to their high protein content and ability to improve digestion. Bambara bean seed is known to improve soil because it can fix nitrogen. Bambara bean nuts are also eaten as a snack, salted or roasted. According to a study, consumer demand for Bambara beans is supposed to increase dramatically, driven by their growing applications in healthy foods and snacks.

Recent Developments

  1. Miles Software NSE -0.94% Solutions has acquired Beans & Intellect Financial Technology, a Mumbai-based startup, to enhance its wealth and asset management solutions. Beans & Intellect offers a risk analysis technology to business institutions in India, the Middle East, and Southeast Asia nations. Miles, also based in Mumbai, declined to disclose the financial details of the deal.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022–2028

Base Year

2022

Forecast Period

2023-2028

CAGR

5.8%

Segments Covered

By Nature, By Application, By Distributional Channel, By Direct Sales, and By Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Princebrim Foods, Elite Trading Company, Lazima Farm Company, Henan Changling Food Co. Ltd., Earth Expo Company, BUSH’S, and among others

Bambara Beans Market Drivers and Restraints:

Global food and beverage trends are largely influenced by changing consumer preferences.

In today's era, consumers around the world, especially the Millennial population, are increasingly open to opt for niche, sustainable, healthy, and food products, through which cross-border trade of a number of ingredients and regional and unusual products has grown steadily in recent years. This trend is supposed to continue in the coming years. Among the many new products that are gaining popularity around the world, Bambara beans are gradually making their way in various parts of the world. The growing demand for plant-based food products, veganism, the number of health-conscious consumers, the willingness to minimize the consumption of meat products, and the awareness of the benefits of consuming Bambara beans are some key factors supposed to drive the global Bambara bean market. Additionally, as various emerging and established brands increasingly focus on targeting a health-conscious audience, Bambara beans are increasingly in the limelight. Bambara beans are increasingly used for sustainable nutrition and food security purposes in various parts of the African continent, a factor that is estimated to drive the market for Bambara beans during the forecast period.

Bambara Beans Market Segmentation:

The Bambara beans market can be divided based on

  • Nature

  • Application

  • Distribution channel

The market by Nature can be divided into

  • Organic

  • Synthetic

Based on the Applications, the market is segmented into

  • Dairy Alternative

  • Flour

  • Animal Feed

  • Dietary Supplements

  • Snack Foods

  • Cooking ingredients

On the basis of the distribution channel, the market for Bambara beans has been segmented as

  • Specialty Stores

  • Online Stores

  • Hypermarkets/Supermarkets

  • Indirect Sales (B2C)

  • Direct Sales (B2B)

Impact of COVID-19 on Bambara Beans Market

The main players involved in the cultivation of Bambara beans are increasingly focusing on solving various challenges within the value chain to gain a competitive advantage amid coronavirus. Improvements in the value chain play a fundamental role in the dissemination and promotion of cultures. In addition, a strong and efficient value chain can play a critical role in strengthening the presence of a particular crop in the market and allowing producers to attract consumers. At present, farmers operating in today's market for Bambara beans are increasingly focusing on overcoming obstacles related to marketing to improve trade, retail, processing, etc. Several key international and national organizations are increasingly working together to enhance the development of the Bambara bean value chain in various regions. For example, the Institute for Rural Economy (IER) and Bioversity International are working together to drive the development of the Bambara bean value chain in Mali. The Middle East and Africa region is foreseen to record a considerable growth rate in the Bambara bean market value and worth over the envisioned period.

Bambara Beans Market Regional Analysis:

The Global Bambara Beans Market has been categorized by geography into

  • North America,

  • Asia Pacific,

  • Europe,

  • Latin America,

  • the Middle East and Africa.

In several countries in sub-Saharan Africa, subsistence agriculture is an imperative aspect of sustainable food security. Environmental changes and fluctuating rainfall patterns play a key role in the growth of the agricultural sector in the African region. However, in recent years, a significant increase in the number of droughts and high uncertainty related to weather conditions have had negative effects on the overall productivity of the agricultural sector. For this reason, farmer organizations and policymakers are now focusing on seizing the potential opportunities of underutilized crops such as Bambara beans for nutrition and food security, income generation in rural areas, and resolution of economic and agronomic challenges. Furthermore, research and development activities mainly indicate the promotion and cultivation of indigenous and drought-tolerant legumes, including Bambara beans, a factor that is expected to increase the market during the evaluation period. Farmers in several African countries are now increasingly concentrating on the applications, storage, and marketing of Bambara beans to gain a competitive edge in the current market scenario.

Bambara Beans Market Key Players

  1. Princebrim Foods

  2. Elite Trading Company

  3. Lazima Farm Company

  4. Henan Changling Food Co. Ltd.

  5. Earth Expo Company

  6. BUSH’S

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