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:
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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.
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