Mung Bean Protein Market

Mung Bean Protein Market Value And Growth Analysis:

Mung Bean Protein Market was worth US$ 225 million in 2021 and is anticipated to reach a valuation of US$ 282 million by 2027 and is predicted to register a CAGR of 3.2% during 2022-2027.

Mung Bean Protein Market Scenario:

Mung bean protein is a plant-based protein extracted from the mung bean, a legume that is widely grown around the world. Mung bean protein is a new type of plant-based protein that has been shown to boost health and increase protein levels in the body.Mung bean protein is gluten-free and has several advantages over soy, pea, and other protein alternatives, including improved digestion and flavour.Mung bean protein can be used in a variety of foods and beverages, including baked products, pasta, protein snacks, breakfast cereals, and more. Mung bean protein is also used to manufacture a mixed protein powder that improves muscle strength.Mung bean is high in protein, with 24 grammes of protein per 100 grammes of bean. As a result, mung protein isolates have a crude protein concentration of more than 80%. Because of its high protein content and variety of flavours, mung bean protein is widely used in the production of plant-based and egg alternatives.

Mung Bean Protein Market Growth:

The growing preference of consumers for natural items over synthetic products has had a favourable impact on the industry. These factors are anticipated to contribute to the Mung Bean Protein Market growth.

REPORT COVERAGE:

Mung Bean Protein Market Drivers:

The growing preference of consumers for natural items over synthetic products has had a favourable impact on industry. Furthermore, it is highly adaptable and may be used in a variety of recipes, cultures, and food products, such as baked goods, confectioneries, and savoury snacks.

The market will rise as young fitness-oriented people become more aware of the importance of daily protein intake in maintaining their fitness goals. Because of their high nutritious content, mung beans are commonly used in protein powder and dietary supplements. Mung has a mildly sweetened taste by nature, thus it's commonly utilised in protein and supplement powders to give sweetness as well as nourishment. Furthermore, professional athletes and fitness fanatics are increasingly using plant-based supplements as a substitute for whey protein, which will have a favourable impact on the mung bean protein market.

The increased usage of plant-based and protein in the food and beverage industry is also driving the mung bean protein market. Plant-based and protein have gained rapid pace in recent years as a result of the growing popularity of plant-based diets around the world.Makers are gradually adopting plant-based protein, particularly vegan food manufacturers, in order to supply consumers with better and more nutritious plant-based foods. Mung bean protein is a high-quality plant-based protein that is commonly utilised to make plant-based egg substitutes. Mung bean protein can be used in a variety of products, including sports supplements, nutrition additives, functional foods, and more. Furthermore, as a result of the veganism trend, meat substitute consumption is on the rise, providing an advantageous chance for the market growth of the mung bean protein market. These factors are anticipated to propel the Mung Bean Protein Market growth.

Mung Bean Protein Market Restraints:

The availability of a large variety of mung bean protein replacements, such as pea protein and soy protein, is stifling the market's expansion. These are some of the factors which are holding back the Mung Bean Protein Market growth.

Recent Developments in the Mung Bean Protein Market:

GOOD Meat is Eat Just's cultivated meat subsidiary, and it recently signed a multi-year restricted contract with bioprocess equipment innovator ABEC, Inc to design, fabricate, install, and commission the world's largest bioreactors, which GOOD Meat will use to sprout mammalian and avian cells into real meat without animal slaughtering.

Mung Bean Protein Market Segmentation: 

By Product:

• Concentrate

• Isolate

• Hydrolyzed

The Mung Bean Protein Market has been divided by product into, concentrate, isolate and hydrolyzed. The grade segment of the Mung Bean Protein market is dominated by the concentrate grade with the highest market share. From 2022 to 2027, the market for concentrated mung bean protein is expected to rise at a significant rate of over 3%. During the post-pandemic period, demand for protein powders and dietary supplements has increased significantly, owing to increased consumer health awareness. Furthermore, plant-based proteins and supplements are in high demand compared to animal-based supplements because they have less potential side effects and are more readily available on the market.

Despite the fact that concentrated protein has a lower nutritional content than isolated protein, demand for the product is growing due to its ease of processing and low cost. Furthermore, the increasing popularity of plant-based protein over meat-based protein due to its higher nutritious value in fewer calories and lower price will aid market expansion.

By Nature:

• Organic
• Non-Organic

The Mung Bean Protein Market has been divided by nature into, organic and non-organic. The nature segment of the Mung Bean Protein market is dominated by the organic category with the higher market share. By 2027, the organic mung bean protein market is expected to be worth more than USD 50.5 million. The mung bean protein market is growing due to rising demand for organic products due to their authenticity and quality assurance. Moongs are high in protein, vitamins, minerals, and fibre, and are grown organically. Because organic green grammes do not contain any artificial chemicals for flavour, taste, or texture, the nutritional content of the product is unaffected.

Because there are no pesticides or chemicals added to organic items, they are healthier and more useful than inorganic products. Furthermore, the global market is being aided by an increase in the number of consumers suffering from obesity and a growing preference for functional food products.

By Application:

• Food & beverages

• Sports Nutrition

• Dietary Supplements

• Pharmaceuticals

• Animal Feed

• Others

By 2027, the market for mung bean protein in food and beverages is estimated to reach USD 168 million. Rising health-care and wellness consciousness, as well as busy lives, have boosted non-artificial beverage consumption, supporting market growth. Bakery & confectionery snacks & cereals, meat additives, and beverages are all part of the food & beverage business.

Mung is commonly included in energy drinks, smoothies, immunity-boosting shakes, and other functional beverages, as well as soups and other liquids. It's also utilised in a variety of dietary drinks, such as diet shakes and protein juices, due to its great nutritional value. The growing trend of using plant-based fortified beverages would boost market growth in the food & beverages industry.

Mung Bean Protein Market Regional Analysis: 

The Mung Bean Protein Market Report includes the segmentation of Regions:

• North America

1. The U.S.

2. Canada

Following Europe, North America is witnessing a high value share in the global mung bean protein market, with a big number of plant-based protein manufacturers being a prominent component.

• Europe

1. The U.K.

2. France

3. Germany

4. Netherlands

5. Russia

6. Italy

Europe dominates the global mung bean protein market, with the biggest value share, owing to the region's significant consumption of plant-based foods.

• Asia Pacific

1. India

2. China

3. Japan

Due to its excellent climate, Asia is the largest producer and distributor of mung beans. During the growth season, mung beans require mean diurnal temperatures of 20°C or more, and the climate in east and southeast Asia is ideal. Furthermore, growing public awareness of animal cruelty has accelerated the uptake of plant-based products. Mung bean products' low-calorie composition, high protein, and high fibre content are also driving up demand globally.

Mung bean is produced in the biggest quantities in Asia Pacific countries such as India, China, and Myanmar. India is the region's largest producer, accounting for more than half of all global mung bean production. Rapid urbanisation, increased consumer awareness of health and fitness, and the fact that India is the largest producer of mung are all driving factors in the market across the region.

Mung Bean Protein Market Key Players:

1. Prinova Group LLC

2. ET-chem Natural Ingredients

3. 3B Keto

4. Bulk Powders

5. ETprotein

6. Laybio

7. FUJI Plant Protein Labs

8. Henry Broch Foods

9. Equinom

10. Organicway Inc