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Mung Bean Protein Market Size, Share and Industry Analysis Report by Nature (Organic, Natural), Product (Concentrate, Isolate, Hydrolysed) and Application (Food and beverages {Bakery & Confectionery, Snacks & Cereal, Meat Alternatives, Beverages}, Sports Nutrition, Dietary Supplements, Pharmaceuticals, Animal Feed), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI5232
  • Published Date: Mar 2022
  • Report Format: PDF

Industry Overview

Mung Bean Protein Market size exceeded USD 220 million in 2021 and is estimated to grow at over 3% CAGR from 2022 to 2028 owing to the increasing demand for plant-based ingredients in processed food & beverage products on account of health benefits & high awareness.

Mung bean, also known as green gram is plant species belonging to the legume family and is widely cultivated in warm regions. Moong is naturally high in nutrition including fibers, proteins, vitamins, minerals and provides various health benefits. Mung beans are particularly used in salads, soups,  sauces, and other savory snacks.

mung bean protein market outlook

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Increasing consumer inclination towards consumption of natural products over synthetic products has positively influenced business. Further, it is very versatile in nature and can be used in various dishes, cuisines, and food products including baked goods, confectioneries, and savory snacks.

Rising awareness and increasing daily protein intake by a young fitness-oriented populace to maintain the fitness goal will propel the market growth. Mung beans are widely used in protein powder and dietary supplements owing to their high nutrient content. Naturally, moong comes with a slightly sweetened taste thus highly used in protein & supplements to add sweetness along with nutrition. Further, increasing consumption of plant-based supplements as an alternative to whey protein by professional athletes and fitness enthusiasts will positively influence the mung bean protein market growth.

Growing demand for plant-based food products in regions including North America, Europe, and Africa will foster product demand. Currently, Asia is leading producer and distributor of mung beans due to its favorable climate conditions. Moong beans require to mean diurnal temperatures of 20°C and above during the growing season and east and southeast Asia provide an appropriate climate for production. Moreover increasing awareness about animal cruelty has fueled the adoption rate of plant-based products. Further, benefits like low-calorie content, high protein, and rich fibers in mung bean products are accelerating its demand globally.

Several government initiatives for promoting the intake of natural plant-based food in daily diet will help to enhance business growth. Increasing government support, aiming to aid the farmers with the launch of various programs and subsidy policies will help to grow business. Further, to strengthen the international mung bean market, the World Vegetable Center established the International Mung Bean Improvement Network. This organization is aimed to connect plant-based researchers around the globe to share technology, experience, and knowledge.

Increasing consumption of organic moong over non-organic to drive the market demand globally

organic mung bean protein market

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The organic mung bean protein market is anticipated to reach over USD 50.5 million by 2028. Increasing demand for organic products owing to their authenticity and quality assurance is stimulating the business growth. Organic moongs are a good source of protein, vitamins, minerals, and fibers. Organic green grams do not contain any artificial chemicals for flavor, taste, or texture hence it does not affect the nutritional content of the product.

Organic products are healthier and more beneficial as compared to inorganic products due to no added pesticides or chemicals. Further, the growing number of consumers suffering from obesity and rising inclination towards functional food products across the globe is augmenting the market growth.

The rising consumption of concentrated mung bean protein owing to its low cost will drive the market demand globally

concentrated mung bean protein market

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The concentrated mung bean protein market is anticipated to grow at a considerable rate of over 3% from 2022 to 2028. The demand for protein powders and dietary supplements has witnessed significant growth during the post-pandemic associated with a rise in health awareness among consumers. Further, the demand for plant-based proteins and supplements is booming as compared to animal-based supplements due to their fewer potential harmful effects and easy availability in the market.

The nutritional content of concentrated protein is slightly low as compared to isolated protein, yet the demand for the product is increasing owing to its simple processing and affordable cost. Furthermore, the gaining popularity of plant-based protein over their meat counterparts due to its more nutrient value into fewer calories and comparatively low price will help accelerate market growth.

Growing consumer awareness towards benefits of plant-based food & beverages are expected to drive the business

mung bean protein market by application

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Mung bean protein market from food & beverages is expected to cross USD 168 million by 2028. Rising health care & wellness awareness and busy lifestyles have propelled the consumption of non-artificial beverages thus boosting the market growth. The food & beverages industry includes bakery & confectionery snacks & cereals, meat additives, and beverages.

Mung is widely used in various functional beverages such as energy drinks, smoothies, immunity-boosting shakes, and others, along with soups and other drinks. In addition, due to its high nutrition value, it is used in several dietary drinks including diet shakes and protein juices. The growing trend of utilizing plant-based fortified beverages will support food & beverages segment in turn accelerating market growth.

Increase in population along with rising demand for vegan food products to drive product demand in the Asia Pacific

mung bean protein market by region

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In terms of region, Asia Pacific mung bean protein market is projected to cross USD 163 million by 2028. High demand growth for products from food & beverages, dietary supplements, and the sports nutrition industry is expected to steer regional growth. Asia Pacific countries such as India, China, and Myanmar are the largest producers of moong across the globe. India is the highest producer in the region, accounting for more than 50% share of global mung bean production. Further, rapid urbanization, increase in consumer awareness about health & fitness, and is the largest producer of moong are the key factors for driving the market across the region.

New product development along with acquisition, and expansion is among the primary business strategies adopted by manufacturers

Mung bean protein industry is a fragmented market owing to the presence of various global as well as local companies regulating industry growth. Some of the key players in the market include Prinova Group LLC, ET-chem Natural Ingredients, 3B Keto, Bulk Powders, ETprotein, Laybio, FUJI Plant Protein Labs, Henry Broch Foods, Equinom, and Organicway Inc. The key players in the market are mainly focusing on new product launches, acquisitions, and expansion in developing and developed economies to capture a good market share.

The mung bean protein market report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in Kilo Tons and revenue in USD million from 2022 to 2028 for the following segments:

By Nature

  • Organic
  • Natural

By Product

  • Concentrated
  • Isolate
  • Hydrolyzed

By Application

  • Food & beverages
    • Bakery & Confectionary
    • Snacks & Cereal
    • Meat additives
    • Beverages
  • Sports Nutrition
  • Dietary Supplements
  • Pharmaceuticals
  • Animal Feed
  • Others

The above information has been provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Russia
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

Mung bean protein market is slated to surpass USD 280 million by 2028 and is expected to expand at a CAGR of 3% between 2022 and 2028 considering the surging demand for plant-based ingredients in processed food & beverage products.

Organic mung bean protein market size is estimated to exceed USD 50.5 million by 2028 owing to the rising demand for organic products on account of quality assurance and authenticity.

Concentrated mung bean protein market value is anticipated to foresee a growth rate of 3% through 2028 driven by the rising demand for dietary supplements and protein powders.

Asia Pacific mung bean protein industry is set to surpass USD 163 million until 2028 impelled by the growing product usage in dietary supplements and food & beverages industry.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 10
  • Tables & Figures: 249
  • Countries covered: 20
  • Pages: 300

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