According to IMARC Group latest published report, The global mung beans market size reached US$ 4,093 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 5,003 Million by 2027, exhibiting a growth rate (CAGR) of 3.52% during 2022-2027.
Global Mung Beans Market Trends:
The global market is primarily driven by the growing health consciousness among the masses. The rising prevalence of lifestyle diseases, including obesity, diabetes and cardiovascular disorders, has led individuals to adopt a healthy lifestyle with a nutrient-rich diet. This has consequently contributed to the increasing demand for mung beans since their regular consumption is widely associated with preventing numerous diseases.
The market is further driven by the growing trend of veganism and vegetarianism on the global level. In line with this, the shifting preference of individuals from animal-based to plant-based proteins is creating a positive outlook for the market. These beans also form an essential component of numerous dietary supplements and various ready-to-eat (RTE) food products. Facilitated further by changing lifestyle patterns and inflating per capita income levels, this is providing a thrust to the market growth.
Furthermore, the expansion of e-commerce platforms and the increasing sales of mung beans through online grocery stores have significantly contributed to the market growth. These platforms not only provide enhanced convenience at a better price point as compared to traditional retailers but also offer flexible payment and return/exchange options. Some of the other factors influencing the market growth include shifting dietary preferences of the masses and the increasing popularity of organic bean variants.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Definition and Application:
Mung beans are small and green-colored beans obtained from the plant called Vigna radiata, which belongs to the legume family. They are characterized by a slightly sweet taste and are usually sold in fresh, sprouted or dried forms. They are rich in essential nutrients, including iron, proteins, fiber, potassium, manganese, copper, zinc, folate, and vitamins B1, B2, B3, B5 and B6. They are also a rich source of essential amino acids, such as valine, lysine, leucine, phenylalanine, isoleucine and arginine, while comprising high concentrations of healthy antioxidants, which include flavonoids, phenolic acids, caffeic acid and cinnamic acid. Their regular consumption is associated with combating inflammation, lowering blood pressure levels, preventing obesity, regulating digestion and reducing the chances of developing chronic diseases. As a result, they are widely used for preparing a vast array of dishes, such as salads, soups and stir-frys, across households and the food and beverages sector.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global mung beans market report, along with forecasts at the global and regional level from 2022-2027.
Breakup by Region:
India currently enjoys the leading position in the market as mung beans have been cultivated in the country since ancient times. Moreover, they help suffice the protein requirement of the vegetarian population.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.
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