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Global Vegetable Protein Market: By Source: Soy, Hemp, Rice, Pea, Potato, Oat, Chickpea, Others; By Type: Concentrates, Textured, Isolates; By Form: Dry, Liquid; By End Use: Food, Feed; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Vegetable Protein Market Outlook

The global vegetable protein market reached a value of USD 9.55 billion in 2020. The market is further expected to grow at a CAGR of 7.3% in the forecast period of 2021-2026 to reach a value of USD 13.58 billion by 2026.

 

Rising Demand for Texturised Vegetable Proteins to Augment the Growth of the Industry

Based on type, there has been a rise in demand for texturised vegetable proteins in the food and beverage sector. Texturised vegetable proteins are becoming an integral part of meat analogues, and meat substitutes as more and more people shift to vegetarianism. This is expected to significantly contribute to the growth of the overall vegetable protein industry in the forecast period.  Meanwhile, hydrolysed vegetable proteins are now being utilised as flavour enhancers in various vegetarian/non-vegetarian food products over animal proteins or yeast proteins.

Region-wise, the Asia Pacific is expected to provide significant growth opportunities to the market over the forecast period. This can be accredited to the increasing health awareness in the region and the advancing food and beverages industry. The growing demand for food products that mimic animal-derived products is aiding the growth of the industry. Moreover, the region also has a strong agricultural production base, which is a significant factor in the manufacture of proteins derived from vegetables.

 

Vegetable Protein: Industry Definition and Segmentation

Vegetable proteins refer to the proteins that are present in or isolated from vegetables or vegetable products used as food. In general, plant-based proteins are known to provide digestive balance as they contain healthy amounts of fibre. Unlike dairy products, plant-based proteins are a lot easier for the body to digest, and, thus, they are gaining heavy traction across numerous forums.

Based on sources, the market is divided into:

  • Soy
  • Hemp
  • Rice
  • Pea
  • Potato
  • Oat
  • Chickpea
  • Others

By type, the industry can be segmented into:

  • Concentrates
  • Textured
  • Isolates

The forms in which vegetable proteins are available include:

  • Dry
  • Liquid

On the basis of end use, the industry can be categorised into:

  • Food
  • Feed

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Growing Shift Towards Veganism to Boost the Growth of the Vegetable Protein Industry

The growing adoption of veganism and the rise in flexitarian population are driving the growth of the global market for vegetable protein. The market is further supported by the rising health awareness among consumers and the increasing demand for meat alternatives. Other factors like the escalating disposable incomes, increasing demand for protein-rich food products, and advancements in the food processing sector are further propelling the industry growth. Over the forecast period, the growing preference for cruelty-free products and the rising demand for environment-friendly alternatives to animal-derived proteins/ food products is expected to further boost the industry growth. The market is projected to be supported by the launch of new products and increased investments in R&D activities by the manufacturers.

 

Key Industry Players in the Global Vegetable Protein Market

The report gives a detailed analysis of the following key players in the global vegetable protein market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Archer Daniels Midland Company
  • DuPont de Nemours, Inc.
  • Cargill, Incorporated
  • BENEO GmbH
  • Roquette Frères
  • Coöperatie AVEBE U.A.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Vegetable Protein Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Vegetable Protein Historical Market (2016-2020) 
    8.3    Global Vegetable Protein Market Forecast (2021-2026)
    8.4    Global Vegetable Protein Market by Source
        8.4.1    Soy
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Hemp
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Rice
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Pea
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Potato
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2016-2020)
            8.4.5.3    Forecast Trend (2021-2026)
        8.4.6    Oat
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2016-2020)
            8.4.6.3    Forecast Trend (2021-2026)
        8.4.7    Chickpea
            8.4.7.1    Market Share
            8.4.7.2    Historical Trend (2016-2020)
            8.4.7.3    Forecast Trend (2021-2026)
        8.4.8    Others
    8.5    Global Vegetable Protein Market by Type
        8.5.1    Concentrates
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Textured
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Isolates
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
    8.6    Global Vegetable Protein Market by Form
        8.6.1    Dry
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Liquid
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    Global Vegetable Protein Market by End Use
        8.7.1    Food
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Feed
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
    8.8    Global Vegetable Protein Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Archer Daniels Midland Company
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    DuPont de Nemours, Inc.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Cargill, Incorporated
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    BENEO GmbH
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Roquette Frères
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Coöperatie AVEBE U.A.
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Figures and Tables

1.    Global Vegetable Protein Market: Key Industry Highlights, 2016 and 2026
2.    Global Vegetable Protein Historical Market: Breakup by Sources (USD Billion), 2016-2020
3.    Global Vegetable Protein Market Forecast: Breakup by Sources (USD Billion), 2021-2026
4.    Global Vegetable Protein Historical Market: Breakup by Type (USD Billion), 2016-2020
5.    Global Vegetable Protein Market Forecast: Breakup by Type (USD Billion), 2021-2026
6.    Global Vegetable Protein Historical Market: Breakup by Form (USD Billion), 2016-2020
7.    Global Vegetable Protein Market Forecast: Breakup by Form (USD Billion), 2021-2026
8.    Global Vegetable Protein Historical Market: Breakup by End Use (USD Billion), 2016-2020
9.    Global Vegetable Protein Market Forecast: Breakup by End Use (USD Billion), 2021-2026
10.    Global Vegetable Protein Historical Market: Breakup by Region (USD Billion), 2016-2020
11.    Global Vegetable Protein Market Forecast: Breakup by Region (USD Billion), 2021-2026
12.    North America Vegetable Protein Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    North America Vegetable Protein Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Europe Vegetable Protein Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Europe Vegetable Protein Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Asia Pacific Vegetable Protein Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Asia Pacific Vegetable Protein Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Latin America Vegetable Protein Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Latin America Vegetable Protein Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Middle East and Africa Vegetable Protein Historical Market: Breakup by Country (USD Billion), 2016-2020
21.    Middle East and Africa Vegetable Protein Market Forecast: Breakup by Country (USD Billion), 2021-2026
22.    Global Vegetable Protein Market Structure

Key Questions Answered in the Report

In 2020, the global vegetable protein market attained a value of nearly USD 9.55 billion.

The market is projected to grow at a CAGR of 7.3% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 13.58 billion by 2026.

The major drivers of the industry, such as the rising disposable incomes, growing vegan and flexitarian population, increasing health awareness, rising demand for dietary supplements, and advancements in the food processing sector, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the launch of new products by manufacturers and the rising demand for cruelty-free, eco-friendly, and sustainable food products.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The leading sources of vegetable protein in the market are soy, hemp, rice, pea, potato, oat, and chickpea, among others.

The major types of vegetable protein in the industry are concentrates, textured, and isolates.

The significant forms of vegetable protein in the market are dry and liquid.

The leading end use sectors in the industry are food and feed.

The major players in the industry are Archer Daniels Midland Company, DuPont de Nemours, Inc., Cargill, Incorporated, BENEO GmbH, Roquette Frères, and Coöperatie AVEBE U.A., among others.

Analyst Review

The global vegetable protein market attained a value of USD 9.55 billion in 2020, driven by the rising vegan and flexitarian population. Aided by the increasing launch of new products, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 7.3%. The market is projected to reach USD 13.58 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By sources, the market is segmented into soy, hemp, rice, pea, potato, oat, and chickpea, among others. Based on type, the industry is divided into concentrates, textured, and isolates. On the basis of form, the market is bifurcated into dry and liquid. By end use, the industry is segmented into food and feed. The major regional markets for vegetable protein are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Archer Daniels Midland Company, DuPont de Nemours, Inc., Cargill, Incorporated, BENEO GmbH, Roquette Frères, and Coöperatie AVEBE U.A., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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