A latest report by IMARC Group entitled “Mung Beans Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global mung beans market reached a volume of 2.5 Million Tons in 2017. Mung beans are the seeds of a plant called Vigna radiata, which belongs to the Fabaceae family. Like most other lentils, they are rich in essential dietary nutrients such as proteins, fibre, anti-oxidants and vitamins. The various minerals found in mung beans include potassium, copper, magnesium, manganese, zinc, etc. They are used with or without skin, split or whole, cooked or sprouted depending on the cuisine and properties desired in the dish. According to the report, the market is further expected to reach a volume of 3.2 Million Tons by 2023 growing at a CAGR of 4.3% during 2018-2023.
The primary factor which has driven the demand for mung beans is their diverse applications in the food industry. Mung beans are used in ready-to-eat food products such as canned soups, noodles, hummus, dips, protein powders, sandwiches and several other health foods. Due to their high nutritional value, mung beans are seen as an important and inexpensive source of energy and essential nutrients in developing regions such as India, China, Thailand, etc. Furthermore, mung beans also help in preventing and controlling certain ailments and lifestyle diseases such as diabetes, heart diseases, cancer, celiac disease, anaemia, osteoporosis, digestion, inflammation, etc. The phytoestrogens present in mung beans help in the production of collagen, hyaluronic acid and elastin which are essential for young and healthy skin.
An analysis of the production and consumption trends of the mung beans market has been presented in the report. Mung beans have been cultivated in India, China and the South-east Asian region since ages. They are an important part of the various local cuisines including Indian, Chinese, Japanese, Korean, Vietnamese, Thai, Filipino, etc. On the basis of production, India represents the largest producer of mung beans accounting for the majority of the total global production in 2015. Other major producers of mung beans include China and Thailand. The report also covers the competitive landscape of the market and finds that it is fragmented in nature with a number of global and local players. The report further provides a detailed value chain analysis of mung beans. This encompasses all the activities in the value chain such as cultivation, procurement, processing, sales and distribution.
The report provides a detailed roadmap for setting up a mung beans processing plant. The study, which has been done by one of the world’s leading research and advisory firms, covers all the essential aspects of the mung beans industry. This ranges from a comprehensive view of the market to minute details of the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. It also offers SWOT, Value Chain and Porter’s Five Forces analysis and regional segmentation followed by an analysis of the competitive landscape. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists and all those who have any kind of stake or are planning to foray into the mung beans industry in any manner.
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