Bambara Bean Market

The article provides an in-depth analysis of the global bambara bean market, highlighting trends in consumption, production, imports, and exports. Forecasts suggest a continued increase in market volume and value by 2030. Key insights include the top consuming and producing countries, import and export data, and price trends over the past decade.

Market Forecast

Driven by increasing demand for bambara beans worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 302K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $472M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Bambara Beans

In 2022, the amount of bambara beans consumed worldwide rose sharply to 261K tons, with an increase of 15% on the previous year. The total consumption volume increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at 278K tons in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

The global bambara bean market value skyrocketed to $372M in 2022, increasing by 18% 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). Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the global market attained the peak level at $440M in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Niger (62K tons), Burkina Faso (57K tons) and Cameroon (41K tons), with a combined 61% share of global consumption. Mali, Togo, Zimbabwe and Democratic Republic of the Congo lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +14.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Cameroon ($118M), Burkina Faso ($93M) and Niger ($49M) appeared to be the countries with the highest levels of market value in 2022, with a combined 70% share of the global market. Mali, Togo, Democratic Republic of the Congo and Zimbabwe lagged somewhat behind, together accounting for a further 25%.

In terms of the main consuming countries, Togo, with a CAGR of +12.7%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of bambara bean per capita consumption in 2022 were Togo (2.6 kg per person), Burkina Faso (2.6 kg per person) and Niger (2.4 kg per person).

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +11.5%), while consumption for the other global leaders experienced mixed trends in the per capita consumption figures.

Production

World Production of Bambara Beans

In 2022, approx. 262K tons of bambara beans were produced worldwide; growing by 14% on the year before. The total output volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Global production peaked at 277K tons in 2020; however, from 2021 to 2022, production remained at a lower figure. The general positive trend in terms output was largely conditioned by a moderate expansion of the harvested area and a relatively flat trend pattern in yield figures.

In value terms, bambara bean production soared to $329M in 2022 estimated in export price. Over the period under review, production, however, showed a pronounced descent. The growth pace was the most rapid in 2019 when the production volume increased by 184%. As a result, production reached the peak level of $733M. From 2020 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Niger (62K tons), Burkina Faso (57K tons) and Cameroon (41K tons), together accounting for 61% of global production. Mali, Togo, Zimbabwe, Democratic Republic of the Congo and Zambia lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +14.3%), while production for the other global leaders experienced more modest paces of growth.

Yield

The global average bambara bean yield expanded sharply to 657 kg per ha in 2022, growing by 9.6% against the previous year's figure. Over the period under review, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 10%. Over the period under review, the average bambara bean yield attained the peak level at 714 kg per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure.

Harvested Area

In 2022, the total area harvested in terms of bambara beans production worldwide reached 399K ha, surging by 3.7% on the year before. The harvested area increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 7.2% against the previous year. The global harvested area peaked in 2022 and is expected to retain growth in years to come.

Imports

World Imports of Bambara Beans

In 2022, supplies from abroad of bambara beans increased by 43% to 3.7K tons, rising for the third year in a row after three years of decline. In general, imports, however, showed a deep setback. The most prominent rate of growth was recorded in 2016 when imports increased by 218%. Over the period under review, global imports reached the peak figure at 8K tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, bambara bean imports skyrocketed to $4M in 2022. Overall, imports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2016 when imports increased by 86% against the previous year. Global imports peaked at $7.8M in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

China was the largest importer of bambara beans in the world, with the volume of imports recording 1.6K tons, which was near 44% of total imports in 2022. Botswana (317 tons) held an 8.7% share (based on physical terms) of total imports, which put it in second place, followed by the United States (6.2%) and Lebanon (4.9%). The Dominican Republic (136 tons), India (120 tons), Venezuela (120 tons), Yemen (103 tons), Uganda (93 tons), the UK (79 tons), South Africa (77 tons), El Salvador (73 tons) and Syrian Arab Republic (60 tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to bambara bean imports into China stood at +64.0%. At the same time, South Africa (+71.7%), Venezuela (+65.8%), Syrian Arab Republic (+62.6%), Uganda (+47.2%), the UK (+28.3%), Botswana (+22.6%), the United States (+4.1%) and El Salvador (+3.3%) displayed positive paces of growth. Moreover, South Africa emerged as the fastest-growing importer imported in the world, with a CAGR of +71.7% from 2012-2022. India and the Dominican Republic experienced a relatively flat trend pattern. By contrast, Lebanon (-6.5%) and Yemen (-8.2%) illustrated a downward trend over the same period. While the share of China (+44 p.p.), Botswana (+8.1 p.p.), the United States (+4.3 p.p.), India (+3.3 p.p.), Venezuela (+3.3 p.p.), Uganda (+2.5 p.p.), South Africa (+2.1 p.p.), the UK (+2.1 p.p.), El Salvador (+2 p.p.), the Dominican Republic (+1.8 p.p.) and Syrian Arab Republic (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.3M) constitutes the largest market for imported bambara beans worldwide, comprising 33% of global imports. The second position in the ranking was held by Venezuela ($351K), with an 8.8% share of global imports. It was followed by the United States, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +54.1%. The remaining importing countries recorded the following average annual rates of imports growth: Venezuela (+67.1% per year) and the United States (+4.1% per year).

Import Prices By Country

The average bambara bean import price stood at $1,087 per ton in 2022, rising by 23% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bambara bean import price increased by +33.1% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 28% against the previous year. Global import price peaked at $1,213 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Venezuela ($2,925 per ton), while Yemen ($271 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uganda (+14.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Bambara Beans

After two years of growth, shipments abroad of bambara beans decreased by -10.1% to 4.7K tons in 2022. Overall, exports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 280%. The global exports peaked at 6.6K tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, bambara bean exports dropped remarkably to $3.6M in 2022. Over the period under review, exports showed a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 236% against the previous year. Over the period under review, the global exports hit record highs at $6.9M in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

Myanmar (1.6K tons) and Zambia (1.3K tons) represented roughly 62% of total exports in 2022. It was distantly followed by Malawi (694 tons), making up a 15% share of total exports. Argentina (156 tons), Brazil (120 tons), Madagascar (111 tons), Canada (103 tons), Nigeria (80 tons) and Ethiopia (78 tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Madagascar (with a CAGR of +58.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Myanmar ($1.3M) emerged as the largest bambara bean supplier worldwide, comprising 36% of global exports. The second position in the ranking was taken by Malawi ($436K), with a 12% share of global exports. It was followed by Brazil, with a 9.8% share.

In Myanmar, bambara bean exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malawi (+28.9% per year) and Brazil (+48.6% per year).

Export Prices By Country

In 2022, the average bambara bean export price amounted to $765 per ton, shrinking by -14.5% against the previous year. Overall, the export price showed a perceptible reduction. The pace of growth appeared the most rapid in 2020 an increase of 11% against the previous year. The global export price peaked at $1,082 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($2,925 per ton), while Zambia ($264 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+7.6%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform