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Global Mayocoba Beans Market to Grow at a CAGR of 4.2% in the Forecast Period of 2021-2026, Aided by the Rising Vegan and Vegetarian Population

According to a new report by EMR titled, ‘Global Mayocoba Beans Market Report and Forecast 2021-2026’, the global market for mayocoba beans is projected to grow at a CAGR of 4.2% in the forecast period of 2021-2026.

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 2021-2026.

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 (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecasted (2021-2026) 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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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