About Mung Bean Protein
Mung Bean which is also known as green gram is a species of legume family. The mung bean is mostly part of cuisine in Indian subcontinent. Because of their rich protein content as well as other essential vitamins, they are subject to excellent plant based protein applications. Thus, mung bean protein is rising in popularity. This is also led by growth of veganism and vegetarianism culture and the surge of the mung bean production. Organic mung bean protein is expected to rise in demand over the coming years, currently mung bean concentrate accounts for significant portion of the market. Currently, Asia Pacific accounts for largest market but North America is steadily catching up.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.7% |
Analyst at AMA Research estimates that united States Vendors will contribute the maximum growth to Global Mung Bean Protein market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Prinova Group LLC (United States), ET-Chem (China), FUJI Plant Protein Labs (United States), ETprotein (China), Henry Broch Foods (United States), Organicway Inc. (China), Laybio Natural (China), 3B Keto (United States), Bulk Powders (United Kingdom) and Proeon (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Equinom (Israel), TradeLink International Group Ltd. (United Kingdom) and Junior Industries (India).
Segmentation Overview
AMA Research has segmented the market of Global Mung Bean Protein market by Type (Concentrate, Isolate and Hydrolyzed), Application (Bakery and Confectionary, Sports Nutrition, Animal Feed, Snacks and Cereals and Others) and Region.
On the basis of geography, the market of Mung Bean Protein has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Nature, the sub-segment i.e. Organic will boost the Mung Bean Protein market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Mung Bean Protein market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Organic Mung Protein is rising in Demand due to Rising Popularity of Chemical Free Meal
Market Growth Drivers:
Growth of the Vegetarianism and Veganism Culture and Surge in Legume Production and Processed Food Applications
Challenges:
Competition from Alternate Protein Sources
Restraints:
Supply Chain Constraints especially due to Recent Pandemic
Opportunities:
Sports Nutrition has Exciting Opportunities to Offer especially due to Surge of Veganism and Gym Culture
Market Leaders and their expansionary development strategies
In September 2021,CHICAGO, IL – Expanding its global distribution presence, Prinova Group LLC ,a NAGASE Group Company, has entered into a definitive agreement to acquire industry expert The Ingredient House, LLC (“TIH”). TIH has a significant presence in the sweetener, polyol and specialty ingredient sectors both in the U.S. and internationally.
In July 2023,Global bulk ingredient supplier and custom food product development company Henry Broch & Company has launched two new “nutritional powerhouse ingredients” that can add protein, vitamins and minerals to a wide range of flour-based products – including bread, pancake and waffle mixes – as well as tortillas, chips and many other snack foods.
Key Target Audience
Mung Bean Protein Manufacturers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.