The latest market report published by Credence Research, Inc. “Global Mung Beans Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Mung Beans Market generated revenue of around USD 3,787.83 million in 2021 and is anticipated to grow a CAGR of over 3.31% during the forecast period from 2021 to 2028 to reach around USD 4,757.59 million in 2028. While, cumulative growth opportunity presented by the global Mung Beans is around USD 30.25 billion during 2022 to 2028.
Global Mung Beans Market, 2021 – 2028 (USD Million)
Browse the full report at Mung Beans Market Size, Trends, Share and Growth Report | Forecast to 2028 (credenceresearch.com)
Due to the rapidly expanding world population, the mung beans market will increase dramatically. These small beans have a green color, classified as legumes. The cultivation of mung beans goes back to ancient epochs.
Mung beans are a native Indian crop. They eventually reached other areas of southeast Asia and even China from India. As a result, mung beans are now cultivated in many parts of the world.
Non GMO Seeds to Lead
GMO Seed and Non-GMO Seed are two major types of mung beans. Non-GMO seeds are expected to dominate the global mung bean market with over 75% share in total consumption as well as production. Non-GMO seeds dominate the global market due to increasing trend of organic food around the world. Consumers are increasingly being aware about their health and environment. Non-GMO mung bean are also available as organic food.
Offline Distribution Channel to Dominate the Market
Offline and Online are two major distribution channels available for the global mung beans market. Offline channel is widely being used and accepted by the farmers, distributors, wholesalers as well as consumers. However, online channel is also expected to increase in its market share over the years to come.
Key players operating in the global mung beans market include, Australian Mungbean Company, Arkar Oo Co., Ltd., Llc Agrochiminvest, Yesraj Agro Exports Pvt. Ltd., Geo Agrotech, Shanxi Xinfei Agriculture Development Co.ltd and Tri Diamond Trading Company.
Asia Pacific Dominates the Mung Bean Market
Asia Pacific is leading regional market for mung bean with over three fourth market share in 2021. Asia Pacific is dominated by the India with over 55% share in the regional market in 2021. India is world’s largest consumer of mung beans. In 2019, India consumed almost 51% of total mung beans consumed in the world. Mung beans are widely popular and used in broad range if Indian cuisines. Mung beans without skins are more commonly used. Mung beans are used across the country in one way or other.
Global Mung Beans Market by Type, 2016 – 2028
Global Mung Beans Market by Distribution Channel, 2016 – 2028
Global Mung Beans Market by Company, 2016 – 2028
- Australian Mungbean Company
- Arkar Oo Co., Ltd.
- Llc Agrochiminvest
- Yesraj Agro Exports Pvt. Ltd.
- Geo Agrotech
- Shanxi Xinfei Agriculture Development Co.ltd
- Tri Diamond Trading Company