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Global Vegetable Protein Market to Reach USD 13.58 Billion by 2026, Aided by the Growing Health Awareness and Rise of the Vegan Culture

According to a new report by EMR titled, ‘Global Vegetable Protein Market Report and Forecast 2021-2026’, the global market for vegetable protein reached a value of USD 9.55 billion in 2020. The industry is further expected to grow at a CAGR of 7.3% between 2021 and 2026 to attain USD 13.58 billion by 2025.

The growing acceptance of veganism and rising awareness of animal exploitation are the major factors propelling the growth of the vegetable protein industry. Different plant sources such as peas, soy, and oats are witnessing increased popularity amongst the demographics for their nutritional content and health benefits. The vegetable protein products are being increasingly adopted across a wide range of industries. These proteins are widely used to prepare various health supplements and dietary supplements. The growing demand for these supplements is significantly contributing to the growth of the industry. Moreover, the easy availability of dietary supplements through e-commerce platforms like Amazon and others is expected to further contribute to the industry growth.

Some of the leading players in the industry include Archer Daniels Midland Company (NYSE: ADM) and DuPont de Nemours Inc (NYSE: DD). Being a leader in the plant-based protein solutions, Archer Daniels Midland offers a variety of textured soy proteins and crisps, which are versatile and economical in nature. They help enhance the quality of the finished product across a multitude of applications, and their protein content ranges from 50% to 85%, depending on the formulation needs. Further, the company is increasingly investing in R&D activities to fulfill the wide gap between what consumers’ desire, including great taste, and what is available in plant-based, protein-forward foods. Such investments by the leading manufacturers are expected to significantly contribute to the industry growth over the forecast period.

Market Breakup by Source, Type, Form, End Use, and Region:

  • The various sources of vegetable protein are soy, hemp, rice, pea, potato, oat, and chickpea, among others.
  • Based on type, the industry can be divided into concentrates, textured, and isolates.
  • By form, the industry can be bifurcated into dry and liquid.
  • On the basis of end use, the industry is broadly categorised into food and feed.
  • Region-wise, the global market for vegetable protein can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for vegetable protein is being driven by the growing adoption of veganism across the globe and the increasing flexitarian population.
  • The market is receiving a further impetus with the rising health concern among consumers and the increasing knowledge regarding the benefits of plant-based proteins.
  • The advancements in the food processing sector and the growing R&D activities are further aiding the industry growth.
  • The growing preference for clean labelled food products and the increasing demand for sustainable alternatives over animal-derived proteins are significantly contributing to the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for vegetable protein for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the sources, types, forms, end uses, and major regions of vegetable protein.
  • 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 vegetable protein market are Archer Daniels Midland Company, DuPont de Nemours, Inc., Cargill, Incorporated, BENEO GmbH, Roquette Frères, and Coöperatie AVEBE U.A., 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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