Mung Bean Protein Market – Global Industry Analysis and Forecast (2023-2029) by Type, Application and Region

Mung Bean Protein Market was valued at US$ 226.6 Mn. in 2022. Global Mung Bean Protein Market size is estimated to grow at a CAGR of 3% over the forecast period.
Mung Bean Protein Market Overview:
Mung bean, sometimes known as green gramme, is a legume plant which is commonly grown in tropical and subtropical areas. Moong is high in nutrients, including fibers, proteins, vitamins, and minerals, and that has a host of health benefits. Salads, soups, sauces, as well as other savory foods, utilize mung beans frequently. Mung beans have been grown and consumed throughout South Asia since the beginning of time. Proteins, fibers, vitamins, minerals, antioxidants, and phytoestrogens are all abundant in mung beans. Mung beans, in addition to their nutritional content, aid in the prevention and management of diseases such as diabetes, osteoporosis, heart disease, anaemia, and cancer.

Several reasons are currently driving the market, including the numerous health benefits, population increase, changing dietary choices, new market opportunities, etc. With an increasing health-conscious global population looking for healthy options at an affordable price, all these factors set precedence for sustained stable growth of the Mung Bean Protein Market.

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Mung Bean Protein Market Dynamics:
Usage in Processed foods:

Mung Bean Protein because of its health benefits and long shelf life in hydrolyzed and concentrated form has led to its adoption in processed foods. Manufacturers have developed mung bean protein isolates with a flour-like consistency due to its high nutritious content and wide cultivation. Mung bean protein isolates are added to a variety of foods and goods to boost nutritional content or enhance specific types of foods, such as alternative meat products. They provide a balanced diet with essential amino acids in an easily digestible form making for ideal supplements. These factors set the precedence for the growth of the Mung Bean Protein Market.

Growing Usage of dietary supplements:

The COVID 19 pandemic led to a wave of health and fitness amongst the populations worldwide. Individuals across all age groups are actively investing in health and fitness products and supplements. Mung Bean Protein extract has proven itself to be an effective and cheap additive to various health proteins and processed foods owing to its high protein percentage and overall nutrition benefits. It is used as a dietary supplement in various ways such as powder and other forms of extracts thereby leading to the growth of the Mung Bean Protein Market.

Usage in plant-based food products:

The health benefit of the Mung Bean to be able to provide high protein content as well as essential amino acids that are often found only in meat-based products have made the product an ideal alternative to animal-based sources. Regions such as Europe and North America, where many people are actively taking up vegetarian lifestyles, therefore, have an immense potential to boost the Mung Bean Protein Market.
Mung Bean Protein Market Segment Analysis:
By Nature, Mung Bean Protein Market is segmented into Organic and Natural Mung Bean Protein. Natural Mung Bean Protein is expected to hold largest market share of 18% by 2029.

By Product-Type, The Mung Bean Protein Market is segmented into Concentrate, Isolate and Hydrolyzed protein. Mung bean protein hydrolyzed protein is an organic product that is high in micronutrients, amino acids, and minerals. It's commonly used to enhance the flavor of processed foods including seasonings, savory snacks, and more. It's simple to digest and has a number of health benefits, such as regulating and avoiding health problems, which is driving up demand. Product adoption in various industries is expected to be aided by the rising consumption of very nutritious and healthy foods. Because of these considerations, the hydrolyzed product market is expected to be worth more than USD 20 million by 2028.

By End-Use, Mung Bean Protein Market is segmented into Foods and Beverages, Sports Nutrition, Pharmaceuticals and Dietary Supplements. The dietary supplement segment holds the largest market share and is expected to reach more than USD 20 Bn. by 2029. Mung Bean Protein Market is expected to grow through usage in protein powders, immune supplements, and weight-gain supplements in dietary supplements. Growing demand for dietary supplements, as well as increased consumer knowledge of digestive and immunological health, are expected to drive category growth in the future years.
Mung Bean Protein Market Regional Insights:
Asia Pacific Region is expected to dominate the market owing to Demographic Demands:

The Mung Bean Protein Market is expected to be led by the Asia-Pacific market thanks to the region being one of the prime producers of the crop because of its climate. This can also be attributed to the Mung Bean being a part of many traditional recipes and therefore the existing adoption of its protein market. This is followed by North America where Mung Bean Protein is used extensively as a food supplement and for sports nutrition. Mung Bean Protein Market is also expected to have a strong foothold in the region because of the increased number of turned vegans. This is followed by the Europe market where consumption of fortified food products in the region has increased as healthy lifestyle patterns have become more popular.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Mung Bean Protein Market dynamic, structure by analyzing the market segments and projecting the Mung Bean Protein Market size. Clear representation of competitive analysis of key players by End-Use, price, financial position, product portfolio, growth strategies, and regional presence in the Mung Bean Protein Market make the report investor’s guide.
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Mung Bean Protein Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2022-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 226.6 Mn.


Forecast Period 2022 to 2029 CAGR:
3%
Market Size in 2029:
US $ 278.68 Mn.


 Segments Covered:
by Nature
• Organic
• Natural


by Product Type
• Concentrate
• Isolate
• Hydrolyzed


by End-Use
• Food and Beverages
• Sports Nutrition
• Pharmaceuticals
• Dietary Supplements



Mung Bean Protein Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Mung Bean Protein Market, Key Players are:
• FUJI Plant Protein Labs (Japan)
• Henry Broch Foods (US)
• Equinom (Israel)
• Organicway Inc. (US)
• Prinova Group LLC(US)
• ET-chem Natural Ingredients (China)
• 3B Keto (India)
• Bulk Powders (UK)
• ETprotein(China)
• Laybio(China)
• Organicway Inc. (US)
• Plantvita(India)
• Proeon(Norwich)
• Altein Ingredients Pvt. Ltd. (India)
• Laybionatural(China)

Frequently Asked Questions:

1. Which region has the largest share in Global Mung Bean Protein Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Mung Bean Protein Market?
Ans: The Global Mung Bean Protein Market is growing at a CAGR of 3% during forecasting period 2022-2029.

3. What is scope of the Global Mung Bean Protein Market report?
Ans: Global Mung Bean Protein Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Mung Bean Protein Market?
Ans: The important key players in the Global Mung Bean Protein Market are – FUJI Plant Protein Labs (Japan), Henry Broch Foods (US), Equinom (Israel), Organicway Inc. (US), Prinova Group LLC(US), ET-chem Natural Ingredients (China), 3B Keto (India), Bulk Powders (UK), ETprotein(China), Laybio(China), Organicway Inc. (US), Plantvita(India), Proeon(Norwich), Altein Ingredients Pvt. Ltd. (India), and Laybionatural(China)

5. What is the study period of this Market?
Ans: The Global Mung Bean Protein Market is studied from 2022 to 2029.