The nutraceutical industry is on the rise with the increase in number of health concerns among the consumers and increase in preference of consumer to have health-enhanced food. The Nutraceutical industry is evolving continuously providing products to consumers as per market trends and consumers demands. The nutraceutical industry consists of three major rising segments; natural products, functional food, and dietary supplements. Food with high fiber and protein content is preferred by consumers for the health benefits offered. Black bean flour is getting popularity among consumers for its high fiber, protein content as well as the amounts of flavonoids present in them which provide various health benefits. Black bean flour is a good source of dietary fiber along macronutrients like copper, phosphorous, manganese, magnesium, vitamins and proteins. Black beans are considered as one of the healthiest food in world owing to its health benefits and hence there is rise in demand for black bean flour from consumers as well as food, bakery, and confectionery sector. With the rising awareness about the health benefits provided by black bean flour, the black bean flour market is expected to grow positively during the forecast period.
The demand for processed food like black bean flour which can provide consumer with various health benefits is increasing day by day. Increase in number of health-conscious people and rising number health-related problems due changing lifestyle are the primary driver of black bean flour market. Black bean flour has various health benefits like prevention of cardiovascular disease, reduced risk of certain cancers, managing diabetes, relief from constipation, etc. The black bean flour is source of important macronutrients and micronutrients like calcium, phosphorous, iron, magnesium, manganese and zinc which important in maintaining bone strength and structure. Black bean flour is a good source of flavonoids like petunidin, malvidin, quercetin, and kaempferol. These flavonoids along with some mineral are known to lower the blood pressure and reduce the risk of cardiovascular diseases. The high fiber content in black bean flour helps to lower the lower the blood sugar levels and help in managing diabetes. The high fiber content also helps in digestion by promoting health of gut microflora. There is an increase in use of health supplements and protein shakes especially among the young generation. This trend is proving to be one of the key drivers for global black bean market as they as high in protein and easily available. The black bean flour has very mild taste and provides a creamier texture which makes it an ideal candidate to use in dips, sauces, snacks, etc. Thus with large number of health benefits and increasing application in food and beverages sector, the black bean flour market is expected to grow positively in the terms of value and volume during the forecast period.
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Some of the key players of black bean flour market are Bob’s Red Mill Natural Foods, NutsOnline, King Arthur Flour Company, Blue Mountain Organics, NutriCargo LLC., Local Harvest, Inc., More companies are taking interest to invest in black bean flour market due its wide benefits and applications.
The global Black Bean flour market is rapidly growing due to its versatile application and thus creating various opportunities to market participants. The increasing use of beans in various snacks and ready to cook mixtures has influenced the manufacturers to investigate and increase the value of black bean flour. The increasing trend of “go organic” has created opportunities for the manufacturers to increase the production of organic black bean flour. There is an increasing demand for organic black bean flour from bodybuilders and gym enthusiast as for its high protein content and other nutritional benefits. The Black Bean Flour being naturally gluten-free can be used in production of various gluten-free products. The rising number of people with gluten-intolerance has certainly created the opportunities for black bean flour manufacturers to launch the gluten-free products. The introduction of e-commerce has created new opportunities for manufacturers to advertise their product to consumers all over the world. With the increasing applications and opportunities, the global black bean flour market is expected to increase during the forecast period.
The global black bean flour market is regionally segmented into 5 regions; North America, Latin America, Asia Pacific, Europe, and MEA. APAC and Latin America region owing to its countries; India, China, Brazil, Mexico being largest producers of black bean account to the majority of market for black bean flour. Latin America is expected to be largest black bean flour market, being one of the lead producers and popularity of black beans among the people. North America, owing to US, its lead producer of black bean flour with rising health concern among people.