Bambara Beans Market: Introduction
A recent study published by Transparency Market Research on the Bambara beans market includes global industry analysis and opportunity assessment for 2020-2030. Revenue generated from the global Bambara beans market was valued at ~US$ 112.8 Mn in 2020, which is estimated to rise at a CAGR of ~5.8%, to reach ~US$ 199 Mn by 2030.
Consumers prefer excellence in both quality and service. Companies are, therefore, investing in research and development to create unique and innovative high-quality products, and are focusing on adopting latest technologies that will enable them maintain high-quality standards. Consumers primarily favor brands that have the best quality products and a wide range of options to choose from. Hence, competition is increasing in the Bambara beans market, and consumers are ready to pay a higher price for high-quality products. For instance, consumers prefer food products that are made using natural food ingredients as compared to conventional food ingredients.
Rising Demand for Natural and Organic Ingredients
Companies are more focused on offering organic Bambara beans to food and beverage manufacturers, owing to the increasing demand for products with higher nutritional content and natural and organic ingredients. In addition, the demand for organic Bambara beans is increasing among dietary supplement manufacturers, as companies are especially targeting consumers seeking plant-based products.
Currently, organic Bambara beans manufacturers are also offering their products to private label brands engaged in the business of offering sports nutrition, weight management supplements, infant nutrition, and flavoured protein powders.
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Allergen-free Natural Products to Unleash Growth Potential in Bambara Beans Market
New opportunities for Bambara beans have risen due to increase in demand for allergen-free ingredients, supported by both environmental and nutritional concerns. The global demand for plant-based ingredients such as Bambara beans in formulated foods is growing significantly and is forecast to increase in the upcoming years. The rapid increase in Bambara beans is supported by changes in consumer preferences, including demand for healthier allergen-free nutrition. Based on findings from the Centers for Disease Control and Prevention (CDC), FDA, and other national surveys, it indicates roughly 10 percent of Americans suffer from some form of food allergy. While more than 170 foods have been reported to cause allergic reactions, majority of serious reactions are caused by eight major food allergens: milk, eggs, peanut, tree nuts, wheat, soy, fish, and shellfish.
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