Mung Bean Protein Market Size, Share and Industry Analysis by Nature (Organic, Conventional), Product (Concentrate, Isolate, Hydrolyzed) and Application (Food and Beverages {Bakery & Confectionery, Snacks & Cereal, Meat Alternatives, Beverages}, Sports Nu

Mung Bean Protein Market Size, Share and Industry Analysis by Nature (Organic, Conventional), Product (Concentrate, Isolate, Hydrolyzed) and Application (Food and Beverages {Bakery & Confectionery, Snacks & Cereal, Meat Alternatives, Beverages}, Sports Nutrition, Dietary Supplements, Animal Feed, Others), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2023- 2032

Global mung bean protein market is set to witness a robust growth through 2032 owing to the increasing usage in the dietary supplement industry. Besides, an increasing focus of pharmaceutical manufacturers toward organic plant-based sources of protein will also drive the market in the upcoming times.

Overall, the mung bean protein market has been bifurcated in terms of product, nature, application, and region.

Based on product, the market is likely to be characterized by the hydrolyzed segment. Mung beans are widely used in a range of immune system boosters, protein powders, and weight-gainers. There is an increasing demand for dietary supplements and the importance of digestive and immunological health is also gaining traction.

Besides, hydrolyzed mung beans contain a good level of amino acids, micronutrients, and minerals. It is also used to enhance the flavor of processed goods such as seasonings, salty snacks, and others.

Not only can mung beans avoid and regulate health problems it also offers a series of health advantages and is easy to digest as well. All these factors will cumulatively fuel the segmental growth of the hydrolyzed segment.

Based on nature, the market has been further categorized in conventional and organic. Between them, the organic segment is slated to grow in the upcoming time, as mung bean contains globulin, which has high medicinal and nutritional properties. In addition, the demand for plant-based food items is also growing owing to the increasing awareness about animal cruelty. This trend will positively impact the market through the analysis timeframe.

In terms of application, the mung bean protein market has been segmented into food and beverages, dietary supplements, animal feed, sorts nutrition, and others. Among these, the dietary supplements segment is slated to witness a massive growth due to an increasing popularity of vegan and vegetarian diet. Furthermore, since mung beans offer holistic nutrition and strengthen immunity, dietary supplements and nutraceuticals were widely embraced during the recent Covid-19 pandemic, which has spurred the market growth of this segment.

In the regional landscape, the mung bean protein market in the Europe will witness a 3% CAGR during the studied timeframe. Throughout Europe, various governments are launching new campaigns, which stress on the detrimental effects of eating artificially grown food items. This, in turn, is increasing the demand for organic mung bean varieties and providing the current market participants with lucrative potential.

Some of the well-known entities of the mung bean protein market comprise of ET-chem Natural Ingredients, Bulk Powders, Laybio, Top Health Ingredients and Alright G.C. (Jinan) Biotechnology Ltd., Prinova Group LLC, Henry Broch Foods, Organicway Inc., Proeon, and Fuji Europe Africa B.V. (Fuji Oils).