Mung Bean Protein Market: Market Outlook
Mung bean protein is a plant-based protein which is derived from the mung bean, which is a type of legume and grown across the globe. Mung bean protein is one of the emerging plant- based protein which is widely recognized to improve the health and enhance the protein content in the body. Mung bean protein is gluten-free and offers the benefits including the easing the digestibility and providing the better flavor than soy, pea and other protein alternatives.
Mung bean protein is applicable to multiple foods and beverages applications such as baked goods, pasta, protein bars, breakfast cereals, and others. Additionally, mung bean protein also utilized to make a blended protein powder to enhance muscular strength. Mung bean is high in protein as 100 g of the bean contains the 24 g of protein. As resulted, mung protein isolates content more than 80% of crude protein content. Mung bean protein is highly utilizing for producing the plant-based and egg substitutes due to comprising the high protein content and different flavors.
Growing utilization of plant-based protein in food and beverage industry is flourishing the demand of mung bean protein
The mung bean protein market is driven by the growing use of plant-based and protein in the food and beverage industry. Plant-based and protein is gaining the rapid traction from the past few years owing to increasing phenomena of plant- based diet across the world. Plant-based protein is progressively adopted by the manufacturers, especially by the vegan food manufacturers to further provide better and nutritious plant-based food to the consumers. Mung bean protein is an effective plant-based protein which is mostly used to produce the plant-based egg products. Mung bean protein can be also used for the sports supplement, nutrition additive, functional foods and other products. Furthermore, owing to the veganism trend, the consumption of meat substitute is rising, which, subsequently offering the beneficial opportunity to the growth of mung bean protein. However, the availability of a large number of substitutes for mung bean protein such as pea protein, soy protein is hampering the growth of mung bean protein market.
Global Mung Bean protein Market: Segmentation
On the basis of nature, the global mung bean protein market has been segmented as
On the basis of product type, the global mung bean protein market has been segmented as
On the basis of end use, the global mung bean protein market has been segmented as
On the basis of region, the global mung bean protein market has been segmented as
Global Mung Bean Protein Market: Key Players
Some of the key players of mung bean protein market are FUJI Plant Protein Labs, Henry Broch Foods, Equinom, Organicway Inc., Prinova Group LLC, ET-chem Natural Ingredients, 3B Keto, Bulk Powders., ETprotein , Laybio, and otehrs.
Opportunities for Market Participants in the Mung Bean Protein Market-
Since the consumption of plant-based foods are growing at the global level, the market participants will be getting a beneficial opportunity in the global mung bean protein market during the forecast period. The growing consumption of high protein diet could boost the demand of mung bean protein mostly in developed countries. This is offering a better market scenario to the manufacturers in the global mung bean protein market.
Global Mung Bean Protein Market: Regional Outlook
Europe is leading in the global mung bean protein market by showing the highest value share due to the high consumption of plant-based food products in the region. Whereas North America, is followed by Europe is also witnessing a significant value share in the global mung bean protein market and a major considerable factor is a large number of the manufacturer of plant-based protein. However, South and East Asia are displaying the highest growth in the global mung bean protein market due to growing consumption high protein diets along with rising health awareness among the consumers regarding the benefits of plant-based protein.
Mung bean protein market is expected to hit by the COVID-19 outbreak, as the consumption of out-of-home food would be reduced. Mung bean protein is one of the major ingredients for the plant-based food products such as plant-based food and beverages items such as burgers, plant based beverages, and others. Since the production of these food items has been interrupted, the use of mung bean protein is projected to be reduced. Nevertheless, the use of plant-based protein in pharmaceutical and nutraceutical industry couldn’t be more affected as consumption of medicine and dietary supplements has not been reduced that much. Hence, the COVID-19 disease would have moderate impact on the growth of mung bean protein market.