Summary

Overview
Global Textured Vegetable Protein Market reached US$ 2.57 billion in 2022 and is expected to reach US$ 4.38 billion by 2030, growing with a CAGR of 6.91% during the forecast period 2023-2030.
Increasing health consciousness among consumers has led to a demand for healthier textured vegetable protein to fulfill their protein content. The growing number of individuals adopting vegetarian and vegan diets has driven the demand for plant-based protein sources such as textured vegetable protein.
Textured vegetable protein is a new product gaining popularity in India due to the increasing consumer shift toward alternative proteins that are considered to sustainably feed a growing global population. Textured vegetable protein is exported from Europe and China to India. On June 29, 2021, the first time a shipment has arrived from Argentina.
Major key players in the market launched new products with textured vegetable protein in the market to fulfill consumer demand for textured vegetable protein. For instance, on April 20, 2023, Meat. The End, an Israeli food tech startup announced the launch of the world’s first texturized plant-based burger made from textured vegetable protein. The company uses 100% chickpea protein concentrate in granular or powder form.
Dynamics
Expanding Adoption of Plant-Based Diets
The combination of environmental and ethical issues is a key driver behind the growing popularity of diets that are plant-based like textured vegetable protein. Customers nowadays are growing more aware of the ethical issues posed by industrialized animal farming. These issues involve how animals receive care, cramped circumstances for living, and the usage of drugs. A growing number of individuals are switching to plant-based diets as an approach to reducing their contribution to the agony of livestock due to these ethical issues.
According to data from the World Animal Foundation's 2023 research, 88 million individuals worldwide identify as vegans. The typical annual rate of growth in the number of plant-based and natural products produced around the world climbed by 21% to 58%, respectively, between 2018 and 2021. This increasing demand for plant-based diets helps to boost the market growth of the textured vegetable protein.
Increasing Health and Wellness Awareness
The textured vegetable protein market is experiencing substantial growth, driven by the increasing awareness of health and wellness. This driver encompasses a heightened emphasis on the impact of dietary choices on personal well-being. A primary catalyst behind the surging demand for textured vegetable protein stems from the expanding nutritional consciousness among consumers.
Consumers who place a premium on their health actively seek out products that feature textured vegetable protein. This encompasses a diverse array of offerings, spanning from plant-based meat alternatives and dairy substitutes to protein-packed snacks and nutritional supplements. The nutritional excellence of textured vegetable protein aligns harmoniously with the dietary preferences of those endeavoring to sustain or enhance their health, signifying a fundamental market driver.
Regulatory and Labeling Challenges
Regulatory and labeling issues pose substantial restraints in the textured vegetable protein market. The lack of regulatory clarity and the labeling disputes create obstacles for manufacturers and give rise to consumer confusion. These challenges also provoke questions about how plant-based products are marketed and labeled.
Resolving these regulatory and labeling challenges demands cooperative efforts from industry stakeholders and governmental bodies. The establishment of unambiguous and consistent guidelines and standards for labeling and marketing plant-based products is of paramount importance. Transparency is the linchpin, and consumers should possess accurate information about the products they select.
Segment Analysis
The global textured vegetable protein market is segmented based on product, form, distribution channel, end-user, and region.
Growing Consumers' Demand for Pea-Textured Vegetable Protein
Pea-textured vegetable protein accounted largest market share accounting for 41.36 % in the global textured vegetable protein market due to an increase in the demand for plant-based protein. Pea protein is frequently considered a healthful substitute for animal protein because of its dietary profile. Pea protein is a suited source of protein because it's miles low in fats, cholesterol-free, and excessive in amino acids. Consumers seeking nutritious and wholesome food options find textured pea protein appealing.
An increase in product launches by major key players helps to boost market growth over the forecast period. For instance, on June 01, 2022, Roquette, a plant-based ingredients manufacturer launched Nutralys, an organic range of texturized pea and fava proteins in European markets. The new product launch helps to enhance the company’s strong position on the overall protein market.
Geographical Penetration
Growing Consumption of Textured Vegetable Protein in North America
North America region accounted largest market share around 39.2% in the global textured vegetable protein market due to the increase in consumption. Consumers in the region become more aware of the health and environmental benefits of plant-based diets made from textured vegetable protein. Major manufacturers in the region focus on creating flavored and pre-seasoned products in the market. Also, an increase in the demand for textured vegetable protein in sports and fitness nutrition products further helps to boost regional market growth over the forecast period.
The growing vegan population in the region also helps to boost the demand for the textured vegetable protein market. According to the data given by the World Animal Foundation in 2023, in the United States, there are more than 15.5 million Vegans. Around 6% of the United States consumers are vegan. A recent survey of 11,000 individuals aged 17 and older found that 2% are vegetarian, with a quarter of them being vegan, making up 0.5% of the total population.
Competitive Landscape
The major global players in the market include ADM, Cargill, Incorporated., CHS Inc., Roquette Freres, Beneo GmbH, Wilmar International, The Scoular Company, Puris Foods, VestKorn, and MGP.
COVID-19 Impact Analysis
The pandemic led to supply chain disruptions globally. Restrictions on movement, lockdowns, and labor shortages affected the production, transportation, and distribution of textured vegetable protein and its raw materials. This disruption, in turn, impacted the availability of textured vegetable protein in the market. The closure or limited operation of restaurants and the food service industry reduced the demand for textured vegetable protein in the food service sector. Textured vegetable protein products that were primarily supplied to these establishments saw a decrease in sales.
On the other hand, the demand for textured vegetable protein experienced fluctuations during the pandemic. There was a surge in demand for plant-based proteins as consumers sought alternatives to meat products due to concerns about meat supply chain disruptions. This resulted in increased sales of textured vegetable protein.
Russia-Ukraine War Impact Analysis
Russia and Ukraine are significant suppliers of key ingredients used in the production of textured vegetable protein, such as soybeans or other plant-based protein sources, any disruption in the supply chain from these countries leads to shortages and increased prices. This affects textured vegetable protein production and availability. Instability in the region results in fluctuations in commodity prices, including soybeans and other raw materials used in textured vegetable protein production. This leads to cost increases for textured vegetable protein manufacturers, which may be passed on to consumers.
The war impacted exchange rates and currency values, potentially affecting the cost of imports and exports. Fluctuations in currency values impact the competitiveness of textured vegetable protein in international markets. Geopolitical tensions and economic sanctions create uncertainty in international trade. Manufacturers need to navigate a complex web of trade regulations and restrictions, potentially affecting textured vegetable protein exports and imports.
By Product
• Soy
• Spirulina
• Pumpkin Seed
• Hemp
• Rice
• Pea
• Others
By Form
• Chunks
• Flakes
• Granules
• Others
By Distribution Channel
• Supermarket and Hypermarket
• E-Commerce
• Specialty Stores
• Convenience Stores
• Others
By End User
• Household
• Commercial
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Key Developments
• On December 05, 2022, Royal DSM, a science-based company launched vertis a textured pea canola protein in the market. It contains necessary levels of all nine essential amino acids which has unique textural benefits. It is soy-free, gluten-free, and dairy-free.
• On May 08, 2023, Kansas Protein Foods LLC, launched Imagic Plant-Based Smoky Breakfast Meat in the market. The newly launched product is a ready-to-eat textured vegetable protein that is made from soy flour.
• On December 11, 2020, Axiom Foods launched New Versions of VegOtein TX texturized pea protein for vegan and processed meats. It helps to replace fat and bind flavor and retain water, and adding cost-saving volume.
Why Purchase the Report?
• To visualize the global textured vegetable protein market segmentation based on product, form, distribution channel, end user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of textured vegetable protein market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global textured vegetable protein market report would provide approximately 69 tables, 74 figures and 190 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

ページTOPに戻る

Table of Contents

1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by Product
3.2. Snippet by Form
3.3. Snippet by Distribution Channel
3.4. Snippet by End User
3.5. Snippet by Region
4. Dynamics
4.1. Impacting Factors
4.1.1. Drivers
4.1.1.1. Expanding Adoption of Plant-Based Diets
4.1.1.2. Increasing Health and Wellness Awareness
4.1.2. Restraints
4.1.2.1. Regulatory and Labeling Challenges
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Industry Analysis
5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
6. COVID-19 Analysis
6.1. Analysis of COVID-19
6.1.1. Scenario Before COVID
6.1.2. Scenario During COVID
6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. By Product
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
7.1.2. Market Attractiveness Index, By Product
7.2. Soy*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Spirulina
7.4. Pumpkin Seed
7.5. Hemp
7.6. Rice
7.7. Pea
7.8. Others
8. By Form
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
8.1.2. Market Attractiveness Index, By Form
8.2. Chunks*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Flakes
8.4. Granules
8.5. Others
9. By Distribution Channel
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
9.1.2. Market Attractiveness Index, By Distribution Channel
9.2. Supermarket and Hypermarket*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. E-Commerce
9.4. Specialty Stores
9.5. Convenience Stores
9.6. Others
10. By End User
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
10.1.2. Market Attractiveness Index, By End User
10.2. Household*
10.2.1. Introduction
10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Commercial
10.4. Others
11. By Region
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
11.1.2. Market Attractiveness Index, By Region
11.2. North America
11.2.1. Introduction
11.2.2. Key Region-Specific Dynamics
11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.2.7.1. U.S.
11.2.7.2. Canada
11.2.7.3. Mexico
11.3. Europe
11.3.1. Introduction
11.3.2. Key Region-Specific Dynamics
11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.3.7.1. Germany
11.3.7.2. UK
11.3.7.3. France
11.3.7.4. Italy
11.3.7.5. Russia
11.3.7.6. Rest of Europe
11.4. South America
11.4.1. Introduction
11.4.2. Key Region-Specific Dynamics
11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.4.7.1. Brazil
11.4.7.2. Argentina
11.4.7.3. Rest of South America
11.5. Asia-Pacific
11.5.1. Introduction
11.5.2. Key Region-Specific Dynamics
11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.5.7.1. China
11.5.7.2. India
11.5.7.3. Japan
11.5.7.4. Australia
11.5.7.5. Rest of Asia-Pacific
11.6. Middle East and Africa
11.6.1. Introduction
11.6.2. Key Region-Specific Dynamics
11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
12. Competitive Landscape
12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis
13. Company Profiles
13.1. ADM*
13.1.1. Company Overview
13.1.2. Product Portfolio and Description
13.1.3. Financial Overview
13.1.4. Key Developments
13.2. Cargill, Incorporated.
13.3. CHS Inc.
13.4. Roquette Freres
13.5. Beneo GmbH
13.6. Wilmar International
13.7. The Scoular Company
13.8. Puris Foods
13.9. VestKorn
13.10. MGP
LIST NOT EXHAUSTIVE
14. Appendix
14.1. About Us and Services
14.2. Contact Us