Mung Bean Market By Product (Concentrate, Isolate, Hydrolyzed), By Nature (Organic, Conventional), By Application (Sports nutrition, Food and Beverages, Dietary supplements, Animal feed, Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033
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This report was compiled by Shreyas Rokade Shreyas Rokade is a seasoned Research Analyst with CMFE, bringing extensive expertise in market research and consulting, with a strong background in Chemical Engineering. Correspondence Team Lead-CMFE Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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Report Overview
The Global Mung Bean Market was valued at USD 280.4 Mn in 2023. It is expected to reach USD 438.8 Mn by 2033, with a CAGR of 4.7% during the forecast period from 2024 to 2033.
The Mung Bean Market refers to the dynamic sector centered around the cultivation, distribution, and consumption of mung beans, a versatile legume renowned for its nutritional value and culinary adaptability. This market encompasses a broad spectrum of stakeholders, including farmers, processors, wholesalers, retailers, and consumers globally. Characterized by its resilience to diverse climatic conditions and growing consumer preference for plant-based protein sources, the Mung Bean Market presents lucrative opportunities for innovation in food products, sustainable agricultural practices, and market expansion strategies.
The Mung Bean Market is experiencing a notable surge driven by several key factors. With the increasing shift towards plant-based diets and the rising awareness of the health benefits associated with legumes, the demand for mung beans continues to escalate globally. This trend is particularly pronounced in regions where mung beans thrive, thanks to their adaptability to varied climatic conditions. The availability of diverse varieties such as Samrat, IPM2-3, SML 668 in India; Crystal, Jade-AU, Celera-AU, Satin II, Regur in Australia; and Zhonglv No. 1, Zhonglv No. 2, Jilv No. 2, Jilv No. 7, Weilv No. 4, Jihong 9218, Jihong 8937, Bao 876-16, Bao 8824-17 in China further fuels market growth and fosters innovation in cultivation techniques.
Moreover, the mung bean's versatility in culinary applications, coupled with its rich nutritional profile, positions it as a favored ingredient among consumers and food manufacturers alike. The ideal temperature range for mung bean germination and growth, spanning from 15–18°C (59–64°F), renders it suitable for cultivation across temperate, sub-tropical, and tropical regions, amplifying its market potential.
Despite the promising outlook, market stakeholders must navigate challenges such as fluctuating weather patterns, supply chain disruptions, and evolving consumer preferences. Understanding these dynamics and leveraging technological advancements in farming practices will be pivotal in maximizing opportunities within the burgeoning mung bean market landscape.
Key Takeaways
- Market Value: The Global Mung Bean Market was valued at USD 280.4 Mn in 2023. It is expected to reach USD 438.8 Mn by 2033, with a CAGR of 4.7% during the forecast period from 2024 to 2033.
- By Product: The Concentrate segment dominates with a market share of 40%, showcasing its significant presence in the market.
- By Nature: Conventional mung beans hold a majority share of 55%, indicating a preference for traditional cultivation methods.
- By Application: In the mung bean market, Food and Beverages claim a substantial portion, standing at 40%, reflecting their widespread use in culinary applications.
- Regional Dominance: Asia-Pacific region leads with 50% of the market share, driven by the significant consumption of mung beans in various traditional cuisines and growing demand for plant-based protein sources.
- Growth Opportunity: Expanding into emerging markets and diversifying product offerings to cater to the increasing demand for plant-based protein sources presents a significant growth opportunity.
Driving factors
Increased Focus on Health and Wellness
The burgeoning consumer interest in health and wellness is a primary driving force behind the growth of the Mung Bean market. Mung beans are renowned for their nutritional benefits, being rich sources of protein, fiber, vitamins, and minerals. As consumers increasingly prioritize healthier dietary choices, the demand for plant-based protein sources like mung beans surges. Mung beans are gluten-free product and low in calories, making them suitable for individuals with dietary restrictions or those seeking weight loss and diet control solutions. This versatility contributes to their appeal across a diverse consumer base.
As food manufacturers respond to this growing demand for healthier alternatives, they increasingly incorporate mung beans into an array of products, including healthy snacks, plant-based meats, dairy alternatives, and baked goods. This diversification of mung bean-based offerings expands their market reach and accessibility, fostering sustained growth in the global market.
Government Support for Farmers
Government support for farmers plays a pivotal role in driving the growth of the Mung Bean market by incentivizing cultivation and improving agricultural practices. Through subsidies, loans, and technical assistance programs, governments encourage farmers to expand mung bean production, thereby boosting supply and stabilizing prices. This support is particularly crucial in regions where mung bean cultivation is a vital component of the agricultural economy.
Additionally, government initiatives aimed at promoting sustainable farming practices align with the increasing consumer demand for ethically sourced and environmentally friendly products. By implementing measures to enhance soil fertility, conserve water, and reduce chemical inputs, these initiatives contribute to the production of high-quality mung beans while mitigating environmental impact.
Restraining Factors
Limited Arable Land
The constraint of limited arable land presents both challenges and opportunities for the Mung Bean market. As one of the most efficient crops in terms of land utilization, mung beans offer a viable solution for maximizing agricultural productivity within limited space. Their short growing season and ability to thrive in diverse soil conditions make them suitable for cultivation in regions where arable land is scarce or fragmented.
Moreover, the cultivation of mung beans as a rotational or intercrop enhances soil fertility and reduces the risk of soil degradation, thereby optimizing land use efficiency. This sustainable farming practice not only mitigates the impact of land scarcity but also contributes to long-term agricultural resilience.
Lack of Awareness
The lack of awareness about mung beans in certain regions represents a barrier to market growth, limiting consumer demand and market penetration. In these regions, mung beans may be underutilized or overlooked as a food source due to a lack of familiarity with their nutritional benefits, culinary versatility, and culinary applications.
Concerted efforts are needed to raise awareness about the nutritional value and culinary potential of mung beans through targeted marketing campaigns, educational initiatives, and culinary demonstrations. Highlighting the health benefits, sustainability credentials, and culinary diversity of mung beans can help to stimulate consumer interest and drive demand in regions where awareness is low.
By Product Analysis
The market is dominated by concentrate products, constituting 40% of the market.
In 2023, Concentrate held a dominant market position in the By Product segment of the Mung Bean Market, capturing more than a 40% share. Concentrate emerged as the frontrunner due to its robust nutritional profile and versatile applications across various industries. With its high protein content and essential amino acids, Concentrate caters to the growing demand for plant-based protein sources in the food and beverage sector, particularly in the manufacturing of protein bars, shakes, and dairy alternatives.
Isolate, another key player in the Mung Bean Market, closely trailed Concentrate in the By Product segment. Despite holding a slightly smaller market share, Isolate has gained traction among health-conscious consumers seeking purer forms of protein. Isolate's advanced processing techniques result in a product with higher protein content and lower levels of carbohydrates and fats, making it a preferred choice for fitness enthusiasts and athletes.
Hydrolyzed, while holding a smaller share compared to Concentrate and Isolate, has carved out a niche for itself in the By Product segment. Hydrolyzed Mung Bean protein offers unique benefits such as rapid absorption and improved digestibility, making it suitable for individuals with dietary restrictions or digestive issues. Its applications extend beyond the food industry to include pharmaceuticals and cosmetics, driving its adoption among manufacturers looking to incorporate sustainable and hypoallergenic ingredients into their products.
By Nature Analysis
Conventional mung beans hold the majority share at 55%.
In 2023, Conventional held a dominant market position in the By Nature segment of the Mung Bean Market, capturing more than a 55% share. Conventional Mung Bean products secured a substantial portion of the market due to their widespread availability, cost-effectiveness, and established supply chains. These factors resonate well with price-sensitive consumers and industrial buyers, driving the demand for Conventional Mung Bean offerings across various sectors.
Organic, while holding a smaller share compared to Conventional, has been steadily gaining traction in the By Nature segment. Organic Mung Bean products are favored by health-conscious consumers seeking natural and sustainably sourced options. With an increasing emphasis on environmental sustainability and health awareness, the demand for Organic Mung Bean products is expected to continue its upward trajectory, albeit at a slower pace due to premium pricing and limited availability compared to Conventional counterparts.
By Application Analysis
Within applications, food and beverages account for 40% of the market.
In 2023, Food and Beverages held a dominant market position in the By Application segment of the Mung Bean Market, capturing more than a 40% share. Food and Beverages emerged as the frontrunner in the market due to the versatile applications of Mung Bean ingredients across a wide array of food and beverage products. These include snacks, soups, spreads, and meat alternatives, among others. The rising consumer demand for plant-based protein sources, coupled with the increasing popularity of ethnic cuisines, has fueled the growth of Mung Bean-based products in the food and beverage industry.
Dietary supplements followed closely behind Food and Beverages in the By Application segment. With the growing emphasis on health and wellness, dietary supplements fortified with Mung Bean ingredients have gained traction among health-conscious consumers seeking convenient and nutrient-dense options to support their dietary needs. Mung Bean-based supplements offer a natural source of protein, fiber, vitamins, and minerals, appealing to a broad demographic of consumers looking to enhance their overall well-being.
Sports nutrition also constituted a significant portion of the By Application segment, albeit with a slightly smaller market share compared to Food and Beverages and Dietary supplements. Mung Bean protein powders and bars have become popular among athletes and fitness enthusiasts due to their high protein content, amino acid profile, and digestibility. These products cater to the growing demand for plant-based alternatives in the sports nutrition market, providing consumers with sustainable and performance-oriented nutrition options.
Key Market Segments
By Product
- Concentrate
- Isolate
- Hydrolyzed
By Nature
- Organic
- Conventional
By Application
- Sports nutrition
- Food and Beverages
- Dietary supplements
- Animal feed
- Others
Growth Opportunity
Advanced Farming Methods
The adoption of advanced farming methods presents a significant opportunity for the global Mung Bean market to enhance productivity, quality, and sustainability. Techniques such as precision agriculture, vertical farming, and hydroponics enable farmers to optimize resource utilization, minimize environmental impact, and maximize yields.
By leveraging technology-driven solutions such as sensors, drones, and automated irrigation systems, farmers can achieve greater precision in crop management, leading to improved mung bean production efficiency and profitability.
Demand for Plant-Based Food Products
The increasing consumer preference for plant-based food products presents a significant growth opportunity for the global Mung Bean market. As consumers become more health-conscious and environmentally aware, they are actively seeking nutritious and sustainable alternatives to traditional animal-derived products. Mung beans, being rich in protein, fiber, and essential nutrients, are well-positioned to meet this demand.
Food manufacturers are capitalizing on this trend by incorporating mung beans into a wide range of plant-based food products, including meat alternatives, dairy substitutes, snacks, and baked goods. This presents a lucrative opportunity for mung bean producers to expand their product offerings and capitalize on the rising demand for plant-based protein sources.
Latest Trends
Incorporation in Other Food Products
A prominent trend driving the global Mung Bean market in 2024 is the increasing incorporation of mung beans into a diverse array of food products beyond traditional uses. Food manufacturers are leveraging the nutritional profile and versatility of mung beans to develop innovative and appealing food items across various categories. From plant-based meat alternatives and dairy substitutes to snacks, cereals, and baked goods, mung beans are being integrated into an expanding range of culinary creations.
This trend reflects the growing consumer demand for healthier, plant-based options and the willingness of food producers to cater to evolving dietary preferences. As a result, mung beans are poised to become a staple ingredient in many households worldwide, driving market growth and diversification.
Organic and Sustainable Cultivation
Another significant trend shaping the global Mung Bean market in 2024 is the increasing emphasis on organic and sustainable cultivation practices. With rising consumer awareness about the environmental and health benefits of organic foods, there is a growing demand for mung beans produced using organic farming methods. Organic cultivation practices prioritize soil health, biodiversity, and natural inputs while minimizing the use of synthetic chemicals and pesticides. Sustainable farming techniques such as crop rotation, cover cropping, and water conservation contribute to the long-term viability of mung bean production.
This trend aligns with the broader movement towards sustainability in agriculture and reflects consumer preferences for ethically sourced and environmentally friendly products. As consumers seek out organic and sustainably produced mung beans, farmers and food producers are responding by adopting certified organic practices and promoting their commitment to sustainability, driving market differentiation and value.
Regional Analysis
Asia-Pacific dominates the Mung Bean market, capturing 50% of the global market share.
The Mung Bean market showcases a diversified landscape across key regions, including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Leading the charge, Asia-Pacific emerges as the dominant region, commanding a substantial market share of 50%. This dominance is underpinned by the region's extensive cultivation of mung beans, primarily in countries like India, China, and Vietnam, where these legumes hold significant cultural and dietary importance.
In North America, increasing consumer awareness regarding the health benefits of mung beans drives steady demand, with the United States being a key contributor to the regional market. Europe, characterized by a growing inclination towards plant-based diets and sustainable food choices, witnesses a notable uptake of mung beans, especially in countries like Germany and the United Kingdom.
The Middle East & Africa region exhibits moderate growth, with countries such as Egypt and Ethiopia showing a rising interest in mung beans due to their nutritional value and culinary versatility.
Latin America, while displaying potential for market expansion, benefits from the widespread consumption of mung beans in countries like Brazil and Mexico. Overall, Asia-Pacific stands out as the dominant force in the global Mung Bean market, leveraging its rich agricultural heritage and robust production capabilities, while other regions present varying degrees of growth opportunities driven by evolving consumer preferences and dietary trends.
Key Regions and Countries
North America
- US
- Canada
- Mexico
Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Players Analysis
In 2024, the global Mung Bean market showcases a diverse landscape with several key players vying for dominance. Among these, several stand out due to their innovative approaches, market presence, and strategic initiatives.
FUJI Plant Protein Labs emerges as a frontrunner, leveraging its expertise in plant-based proteins to capitalize on the growing demand for mung bean-based products. Their focus on research and development likely yields novel formulations, addressing consumer preferences for sustainable and nutritious food options.
Equinom, with its emphasis on seed technology and breeding, holds significant sway in the market. By enhancing mung bean varieties for higher yields, disease resistance, and nutritional content, Equinom contributes to the industry's sustainability and resilience.
Organicway Inc. is positioned as a key player, capitalizing on the burgeoning organic food movement. Their commitment to organic farming practices resonates with health-conscious consumers seeking clean-label products, thereby driving market growth.
Prinova Group LLC's expertise in ingredient solutions enables them to cater to the evolving needs of food manufacturers. Through innovative ingredient blends and formulations, they play a pivotal role in expanding the application scope of mung beans across various food categories.
3B Keto's specialization in ketogenic products positions them uniquely in the market, catering to the rising demand for low-carb, high-protein alternatives. Their mung bean-based offerings align with prevailing dietary trends, fostering consumer adoption and market expansion.
Market Key Players
- FUJI Plant Protein Labs
- Henry Broch Foods
- Equinom
- Organicway Inc.
- Prinova Group LLC
- ET-chem Natural Ingredients
- 3B Keto
- Alright G.C. (Jinan) Biotechnology Ltd.
- Bulk Powders
- ETprotein
- Laybio
Recent Development
- June 2024: MungFoods Inc. introduced a new sustainable packaging solution, reducing environmental impact.
- May 2024: The Mung Bean Co. launched a line of organic mung bean snacks, tapping into the health-conscious consumer market.
Report Scope
Report Features Description Market Value (2023) USD 280.4 Mn Forecast Revenue (2033) USD 438.8 Mn CAGR (2024-2033) 4.7% Base Year for Estimation 2023 Historic Period 2018-2023 Forecast Period 2024-2033 Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments Segments Covered By Product (Concentrate, Isolate, Hydrolyzed), By Nature (Organic, Conventional), By Application (Sports nutrition, Food and Beverages, Dietary supplements, Animal feed, Others) Regional Analysis North America - The US, Canada, & Mexico; Western Europe - Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe - Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC - China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America - Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa - Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape FUJI Plant Protein Labs, Henry Broch Foods, Equinom, Organicway Inc., Prinova Group LLC, ET-chem Natural Ingredients, 3B Keto, Alright G.C. (Jinan) Biotechnology Ltd., Bulk Powders, ETprotein, Laybio Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) -
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- FUJI Plant Protein Labs
- Henry Broch Foods
- Equinom
- Organicway Inc.
- Prinova Group LLC
- ET-chem Natural Ingredients
- 3B Keto
- Alright G.C. (Jinan) Biotechnology Ltd.
- Bulk Powders
- ETprotein
- Laybio