Bambara beans Market Report 2024 (Global Edition)

Market Dynamics of Bambara beans

Key Drivers of Bambara beans Market

• High adoption of Bambara beans in rural households of the Sub-Saharan region of Africa, is favoring the market growth

According to a UN Climate Change report, changes in precipitation patterns, increasing sea levels, and increasingly extreme weather are endangering not just human health and safety but also the socio-economic development of Africa and the security of food and water supplies. The report claims that substantial coastal erosion and degradation are occurring in West Africa, greatly increasing the continent's vulnerability. 56% of the areas in Senegal, Benin, Cote d'Ivoire, and Togo. Due to these subsistence farming is very crucial in Africa. Since the Bambara Beans are adapted to dry conditions and can even grow in areas with limited water availability, market growth is favored. According to the Agriculture Forestry and Fisheries report, the Bambara needs moderate rainfall from sowing until flowering. An annual rainfall of 500 to 1200 mm is required during the growing season. Too much rainfall at harvest may result in yield losses. The Bambara groundnut can also survive in hot dry areas where other crops would not survive. Moreover, Bambara beans are drought-tolerant legumes that boost their demand more in the African region. The African region is open to drought-like situations. For instance, according to Statista, between 2010-2022, the African region countries experienced a very high number of droughts, especially in Kenya and Somalia. In addition, non-governmental organizations fund various training initiatives to help the local small-scale farmers' agricultural research institutes. The producers of Bambara beans are leveraging consumer support for local farmers to expand their product lines by developing value-added products. Due to the distinct qualities of the bean and the unfavorable climate in the African region, growth and demand are what propel the Bambara bean market.

(Source:https://unfccc.int/news/climate-change-is-an-increasing-threat-to-africa, https://www.dalrrd.gov.za/phocadownloadpap/Brochures_and_Production_Guidelines/Bambara.pdf, https://www.statista.com/statistics/1328581/african-countries-with-largest-number-of-drought-events-in-africa/ ) 

• Consumers growing demand for healthier products is favoring the market growth

Bambara beans are an excellent source of minerals, protein, and dietary fiber. Bambara beans are rich in calcium, which prevents bone diseases, and iron, which raises blood levels in the body. It prevents malnourishment and strengthens children's immune systems. According to a survey by McKinsey & Company reported that 70% of respondents said they would like to be healthy. Food is crucial to reaching that objective, and across all age categories, over 50% of customers indicate that eating healthily is their top priority. Furthermore, cutting back on processed foods and sugar—two of this consumer group's top concerns—as well as fat, salt, and, in certain cases, red meat, is part of a healthy diet. This favors the market growth for Bambara beans. Additionally, it is an antioxidant found in Bambara beans that aids in the prevention of cancer. The World Cancer Research Fund International says that there were an estimated 18.1 million cancer cases around the world in 2020, out of which, 9.3 million cases were in men and 8.8 million in women. Due to the Bambara bean's benefit for cancer patients, the market is expanding. These elements encourage the global Bambara bean market's expansion. Globally, people are more aware of the concept of healthy life. People are now very focused on what they’re eating and in what quantity. Moreover, ever since the pandemic, people are now more focused on eating healthy food. Consumers are eating items that will make their immune systems strong, improve mental health, and provide nutrition. All these features are allowing for the Bambara market to grow. Therefore, the market is growing majorly due to the Bambara beans being an excellent source of minerals and proteins, their market growth is growing.

•  The Rapid Change in the Lifestyle Propels the Market Growth

Restraining Factors of Bambara beansMarket

• The after-effects of COVID-19 still impact the supply chain disruptions, manufacturing issues, and demand issues in the Bambara market

Uncertainty surrounding the pandemic and variations in supply and demand dynamics led to price volatility in the Bambara bean market. Farmers lost income, while consumers' expenses went up as a result of price instability, which hurt both producers and consumers. The market for Bambara beans is fragmented, with a large number of small-scale growers and traders, making it particularly susceptible to the effects of COVID-19. Market participants' lack of cooperation and resources made the difficulties encountered during the pandemic worse. The nationwide shutdown that followed the start of COVID-19 effectively disrupted the supply chain. For instance, a 2020 Statista poll found that the COVID-19 pandemic had a major effect on supply chains. For instance, 35 percent of participants said that their business was completely unaffected by delays in cross-border transportation. Similar production and supply and demand problems were present in the Bambara bean market during COVID-19. According to data from the U.S. Bureau of Labor Statistics, the COVID-19 pandemic resulted in a 38 percent annual reduction in hours worked and a 43 percent annual decline in manufacturing production in the second quarter of 2020. Even after when the pandemic was over, the after-effects were still present in the Bambara beans market. The manufacturing and supply chain of the market faced significant problems in terms of shortage, proper processes, etc. Therefore, when everything is taken into account, the COVID-19 pandemic significantly affected the global market for Bambara beans, leading to problems with production, the supply chain, decreased demand, restrictions on exports, unstable prices, market fragmentation, whose after-effects are still felt by the market and its restraining for its market growth.

(Source: https://www.statista.com/statistics/1182233/impact-covid-19-supply-chain/, https://www.bls.gov/opub/ted/2022/) 

How did COVID-19 impact the global bamboo beans?

During COVID-19, the global market for Bambara beans suffered significantly. The supply chain was severely disrupted when the entire nation was put under lockdown. According to an EY survey, 57% of participants experienced major disruptions, and 72% of them said it hurt their lives (17% said it had a very negative impact and 55% said it was mostly negative). Globally, Bambara beans went through a similar trying time during the pandemic. Lower sales were observed in the Bambara bean market as a result of adverse effects on both supply and demand. The global pandemic also affected the market for Bambara beans by creating a labor shortage for the planting and harvesting of non-staple crops like fruits and vegetables. Since Africa is the primary growing region for Bambara beans, the region was severely affected by the high rates of unemployment, hunger, and malnutrition. All these factors caused serious harm to the Bambara Market. (Source: https://www.ey.com/en_us/supply-chain/how-covid-19-impacted-supply-chains-and-what-comes-next) 
 

Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.

The Global Bambara beans Market is witnessing significant growth in the near future.

In 2023, the Organic segment accounted for noticeable share of global Bambara beans Market and is projected to experience significant growth in the near future.

The Home Uses segment is expected to expand at the significant CAGR retaining position throughout the forecast period.

Some of the key companies African Flavour’s , Oro Seeds and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.

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