Bean Sprouts Market Size, Share, Growth, and Industry Analysis, By Type (Mung Bean Sprouts, Soybean Sprouts, Others), By Application (Food Service, Retails, Others), Regional Insights, and Forecast From 2024 To 2031

Bean Sprouts Market Regional Insights

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The global bean sprouts market size was USD 4339.8 million in 2022 and is expected to reach USD 5812.55 million in 2031, exhibiting a CAGR of 3.3% during the forecast period.

Bean sprouts are a type of sprouted vegetable that are commonly used in many Asian cuisines. They are typically made from mung beans or soybeans and are known for their crunchy texture and mild, fresh flavour. Bean Sprout is highly nutritious and are a good source of vitamins, minerals, and dietary fiber.

To grow bean sprout, you start with dried mung beans or soybeans. The beans are soaked in water for several hours or overnight until they swell up. After soaking, the beans are drained and placed in a container or sprouting tray. The container should be covered with a breathable lid or cloth to allow air circulation while keeping out dust and insects. In recent years, there has been a growing interest in healthy eating and plant-based diets, which has led to an increased demand for bean sprout as a nutritious and versatile ingredient.

COVID-19 Impact: Pandemic Hampered the Demand for Market

The global COVID-19 pandemic has been unprecedented and staggering, with bean sprouts market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

COVID-19 led to disruptions in transportation and logistics, affecting the supply of bean sprouts. Restrictions on movement and lockdown measures implemented in various countries impacted the availability and distribution of bean sprout, leading to supply shortages in some areas. The closure of restaurants, cafes, and other foodservice establishments during the pandemic resulted in a significant decline in demand for bean sprout. With fewer consumers eating out, the overall demand for bean sprout in bulk quantities decreased substantially. Bean sprout is typically grown in controlled environments, such as sprouting facilities or by individuals at home. However, due to labor shortages and restrictions on movement, there were challenges in maintaining regular production levels. This, in turn, affected the availability of bean sprout in some regions. The pandemic highlighted the vulnerabilities of global supply chains, leading to a growing interest in local and regional sourcing. This trend also affected the bean sprout market, with consumers showing preference for locally grown sprout, which were perceived as fresher and more secure in terms of supply.

Latest Trends

"Growing Demand for Healthy and Plant-Based Foods to Fuel Market Growth"

As people become more health-conscious, there has been an increasing interest in incorporating plant-based foods into diets. Bean sprout, being a nutritious and versatile ingredient, has gained popularity as part of this trend. Asian cuisine, including dishes like stir-fries, noodle dishes, and salads, has gained widespread popularity worldwide. Bean sprouts are commonly used in these dishes, which has contributed to the growth in demand for bean sprout. There is a growing emphasis on sustainable food production and reducing the carbon footprint associated with food transportation. Local sourcing of bean sprout, either through home cultivation or sourcing from nearby farms, has gained attention in certain regions. he demands for organic and specialty food products has been increasing in recent years. Similarly, organic and specialty bean sprout, such as mung bean sprout or soybean sprout, have gained attention from health-conscious consumers.

Bean Sprouts Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into mung bean sprouts, soybean sprouts, others.

• By Application Analysis

Based on application, the market can be divided into food service, retails, others.

Driving Factors

"Health and Nutritional Benefits to Stimulate Market Growth"

Bean sprout is highly nutritious and offer numerous health benefits. They are rich in vitamins, minerals, fiber, and enzymes, making them a popular choice among health-conscious consumers. The increasing awareness of the nutritional value of bean sprout has driven their demand in the market. With the rising trend of vegetarian and vegan lifestyles, sprout beans have gained popularity as an essential ingredient in plant-based diets. Bean sprout serves as a valuable source of protein, making them a preferred choice for individuals following vegetarian or vegan diets.

"Rise in Demand from Consumer to Surge Market Growth "

The growing demand from this consumer segment has fuelled the bean sprouts market growth. Rapid urbanization and changing lifestyles have resulted in an increased demand for convenience foods. Bean sprout is convenient to use, require minimal preparation, and have a relatively long shelf life, making them a popular choice among urban dwellers with busy schedules. The convenience factor has boosted the demand for market. Consumers are increasingly concerned about food safety and quality. Sprouted beans that are produced under controlled conditions, with strict adherence to safety standards and regulations, are perceived as safer and of higher quality. This growing awareness regarding food safety and quality has boosted the demand for regulated and certified bean sprout.

Restraining Factors

"Seasonal Availability and Perishability to Restrict Market Growth "

Sprouted beans are often produced through sprouting techniques, which require specific environmental conditions. The availability of fresh sprouts can be limited during certain seasons, leading to fluctuations in supply and potentially higher prices. Bean sprout has a relatively short shelf life compared to other vegetables. They are highly perishable and can spoil quickly if not stored properly. This perishability poses challenges in terms of transportation, storage, and distribution, which can limit market reach and increase costs.

Bean Sprouts Market Regional Insights

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"Presence of Key Players in Asia-Pacific Anticipated to Drive Market Expansion "

Asia-Pacific holds the leading position in bean sprouts market share. Countries like China, Japan, South Korea, and Southeast Asian nations have a strong tradition of consuming sprouted beans and incorporating them into various dishes. China is one of the largest consumers and producers of sprouted beans, with a significant domestic market. Japanese cuisine, including dishes like stir-fries and sushi rolls, commonly features sprouted beans. South Korea is also known for its consumption of sprouted beans in dishes such as bibimbap and kimchi.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are Henan Lvsezhongyuan, Zhengzhou New Village, Ningbo Wulongtan, Anhui Anxin, Chengdu Ande, Hubei Yuruyi, Suzhou Zhongshida, Shenyang Green Source of Life, Hubei Lvquan, Nanjing Tanshanhu, Shanghai Yuanye, Hangzhou Qingshanhu, Hebei Tianyi, Beijing Dongshengfangyuan, Narita Foods, Fuji Natural Foods, Pulmuone, Daesang. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

LIST OF TOP BEAN SPROUTS COMPANIES

• Henan Lvsezhongyuan
• Zhengzhou New Village
• Ningbo Wulongtan
• Anhui Anxin
• Chengdu Ande
• Hubei Yuruyi
• Suzhou Zhongshida
• Shenyang Green Source of Life
• Hubei Lvquan
• Nanjing Tanshanhu
• Shanghai Yuanye
• Hangzhou Qingshanhu
• Hebei Tianyi
• Beijing Dongshengfangyuan
• Narita Foods
• Fuji Natural Foods
• Pulmuone
• Daesang

Report Coverage

This report examines an understanding of the Bean sprouts market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.