Mung Bean Protein Market Insights | Growth, Emerging Trends And Forecast [ 2021-2031]

Mung Bean Protein Market - Overview

The global mung bean protein market is anticipated to grow at a favorable rate from 2021 to 2031 (forecast period). Mung bean protein is often used in savory foods such as soups, sauces, sausages, and confectionery and pastry items. It is abundant in antioxidants, phenolic acid, and cinnamic acid, which help minimize damaging radicals and increase product uptake. Moreover, the increasing use of organic food items in the food and beverage industry and the rising preference for conventional goods over synthetic ones are expected to boost the global mung bean protein market share throughout the projected period.

Mung Bean Protein Market - Competitive Landscape

Leading players in the mung bean protein market are ET-chem Natural Ingredients, Prinova Group LLC, Equinom, Bulk Powders, Laybio, FUJI Plant Protein Labs, ETprotein, Henry Broch Foods, and Organicway Inc.

To get a significant market share, the industry's top players are primarily concentrating on new product releases, acquisitions, and growth in emerging and developed economies.

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Mung Bean Protein Market - Trends and Opportunities

The increased usage of plant-based protein in the food and beverage sector is expected to drive the global mung bean protein market. Plant-based proteins have gained tremendous popularity in recent years as a result of the growing phenomenon of plant-based diets throughout the world. Plant-based protein is being increasingly accepted by makers, particularly vegan food makers, in order to give better and more nutritional plant-based food to customers. Mung bean protein is a powerful plant-based protein that is commonly employed in the production of plant-based egg products.

Mung bean protein can also be utilized in nutrition supplements, sports supplements, functional meals, and other goods. Moreover, as a result of the vegan movement, the intake of meat substitutes is increasing, providing a positive opportunity for the expansion of the global mung bean protein market.

Since worldwide consumption of plant-based meals is booming, market participants are expected to benefit from a favorable opportunity in the worldwide mung bean protein market during the projected period. Moreover, the rising popularity of high-protein diets is projected to increase the sales of mung bean protein, particularly in developed nations. This is likely to provide producers in the worldwide mung bean protein market with a more favorable market condition.

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COVID-19 pandemic had a significant impact on the global mung bean protein market. Due to supply chain interruptions throughout the world and increased health consciousness and understanding of vegan diets among customers, the COVID-19 pandemic altered consumption habits of alternative proteins. Moreover, due to their numerous health advantages, increasing demand for plant-based proteins has encouraged manufacturers to ramp up manufacturing these proteins. Consumer demand for plant-based proteins has been critical in driving market expansion throughout the COVID-19 crisis.

Mung Bean Protein Market - Regional Landscape

The mung bean protein market in Europe is projected to grow during the forecast period. The growing popularity of healthy lifestyle habits has increased the use of enriched food items in the region. Mung bean features, such as high fiber, vitamin, mineral, and protein content, which improves the nutritive value of food goods, are anticipated to boost the mung bean protein market outlook in Europe. Moreover, the increased acceptance of plant-based goods over animal-based goods in Europe, as a result of increasing awareness about animal abuse, is expected to drive regional market growth.

Asia Pacific is anticipated to witness considerable growth in the global mung bean protein market during the forecast period. Regional expansion is likely to be driven by growing demand for mung bean protein from the food and beverage, and sports nutrition. Asia Pacific nations such as India, Myanmar, and China are the world's top producers of mung. India is the region's largest producer, responsible for almost half of the world's mung bean output. Moreover, rising urbanization and increased consumer knowledge about fitness and health are major aspects projected to boost the regional market.

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This release was published on openPR.