The global mung beans market size reached US$ 3,913 Million in 2020. Looking forward, the market expects to grow at a CAGR of 3.5% during 2021-2026, according to the latest report by IMARC Group.
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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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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Market Summary:
- On the geographical front, the market has been segregated into India, China, Myanmar and others. At present, India holds the leading position in the market, accounting for the majority of the total market share.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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