Global Mayocoba Beans Market to Grow at a CAGR of 4.2% in the Forecast Period of 2024-2032, Aided by the Rising Vegan and Vegetarian Population

The global market for mayocoba beans is primarily being driven by the rising awareness about its health benefits among consumers. With the hectic lifestyles, consumers are shifting towards healthier food options such as mayocoba beans. The rapid growth in the population shifting to vegan diets is also propelling the development of the industry. The growth is supported by the growing shelf space for vegan food in major supermarkets. In 2018, the UK supermarket, Waitrose, included a dedicated vegan section in over 130 of its outlets. The rising popularity of Latin American cuisine and the growth of companies and brands like Goya, El Mexicano, and Verde Valle are further propelling the market growth.

In October 2021, Archer Daniels Midland Company (NYSE: ADM), one of the global leaders in nutrition and supporters of the world's leading consumer brands, published its opinion on the five trends in food and beverage that will help in changing the way customers eat and drink in the coming year. These trends forecast the growing demand for healthier food products, including mayocoba beans. Such growing trends are expected to propel the industry growth further in the forecast period of 2024-2032.

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Market Analysis by Origin, End Use, and Region:

• Based on origin, the industry can be divided into organic and conventional.

• By end use, the market is segmented into food service, hospitals, and household.

• The regional markets for mayocoba beans include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising awareness about the health benefits of mayocoba beans, including the high nutritional content of the beans, is driving the growth of the market.

• Mayocoba beans are a vegetarian alternative for meat for the vegetarian or vegan population and, thus, witnessing a growth in demand among the vegan population.

• The rising food and beverage industry is also supporting the market growth.

• The growing demand for the organic type of the product has been rising and is expected to continue to witness a robust growth due to the rising demand for organic food products.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for mayocoba beans for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for the origins, end-uses, and major regions of mayocoba beans. 

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global mayocoba beans market are Archer Daniels Midland Company and Woodland Foods, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.