South America Mung Bean Market Analysis 2026

According to Cognitive Market Research, the global mung bean market size was estimated at USD 4351.2 Million out of which Latin America market of around 5% of the global revenue with a market size of USD 217.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.9% from 2024 to 2031. Sales of mung beans in Latin America are expected to increase due to the region's rich culinary heritage and the versatility of mung beans in traditional dishes. Moreover, the rise of vegetarian and flexitarian diets in the region fuels interest in plant-based protein sources like mung beans. Furthermore, the convenience of packaged mung beans appeals to urban consumers in Latin American cities. In Latin America, the commercial segment is expected to grow substantially, as restaurants and food service industries incorporate mung beans into their menus to cater to health-conscious consumers.

• According to Cognitive Market Research, Brazil mung bean market had a market share of USD 93.12 million in 2024 and is projected to grow at a CAGR of 3.5% during the forecast period. Sales of mung beans in Brazil are set to increase due to the country's diverse culinary landscape, the popularity of plant-based diets, and the versatility of mung beans in Brazilian cuisine.
• Argentina mung bean market had a market share of USD 36.55 million in 2024 and is projected to grow at a CAGR of 3.8% during the forecast period. In Argentina, the sales of mung beans are expected to rise as consumers seek out nutritious and affordable food options, driven by the country's economic growth and changing dietary habits.
• Colombia mung bean market had a market share of USD 19.36 million in 2024 and is projected to grow at a CAGR of 2.7% during the forecast period.
• Peru mung bean market had a market share of USD 17.84 million in 2024 and is projected to grow at a CAGR of 3.1% during the forecast period.
• Chile mung bean market had a market share of USD 15.66 million in 2024 and is projected to grow at a CAGR of 3.2% during the forecast period.
• Rest of Latin America mung bean market had a market share of USD 35.03 million in 2024 and is projected to grow at a CAGR of 2.0% during the forecast period.

According to Cognitive Market Research, key market drivers are fueling growth and influencing sales for South America Mung Bean Market Analysis in the agriculture industry. This understanding enables farmers and agribusinesses to make strategic, data-driven decisions. However, the sector also navigates significant restraints, including high production costs, strict regulatory compliance, supply chain disruptions, and climate-related uncertainties. Challenges such as fluctuating commodity prices, environmental pressures, and labor shortages further impact the market.

Despite these hurdles, this analysis pinpoints emerging market opportunities, providing a clear roadmap for businesses to innovate, adapt, and secure a competitive advantage.