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Vegetable Protein Market

Global Vegetable Protein Market Size, Share, Forecast: 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; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Vegetable Protein Market Outlook

The global vegetable protein market reached a value of USD 11.64 billion in 2023. The market is further expected to grow at a CAGR of 6% in the forecast period of 2024-2032 to reach a value of USD 19.60 billion by 2032.

 

Global Vegetable Protein Market

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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: Market 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.

 

Global Vegetable Protein Market By Form

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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.

 

Global Vegetable Protein Market By Region

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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 market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Source
  • Type
  • Form
  • End Use
  • Region

 

Breakup by Source
  • Soy
  • Hemp
  • Rice
  • Pea
  • Potato
  • Oat
  • Chickpea
  • Others
Breakup by Type
  • Concentrates
  • Textured
  • Isolates
Breakup by Form
  • Dry
  • Liquid
Breakup by End Use
  • Food
  • Feed
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Archer Daniels Midland Company
  • DuPont de Nemours, Inc.
  • Cargill, Incorporated
  • BENEO GmbH
  • Roquette Frères
  • Coöperatie AVEBE U.A.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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    Opportunities and Challenges in the Market
8    Global Vegetable Protein Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Vegetable Protein Historical Market (2018-2023) 
    8.3    Global Vegetable Protein Market Forecast (2024-2032)
    8.4    Global Vegetable Protein Market by Source
        8.4.1    Soy
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Hemp
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Rice
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Pea
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Potato
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
        8.4.6    Oat
            8.4.6.1    Historical Trend (2018-2023)
            8.4.6.2    Forecast Trend (2024-2032)
        8.4.7    Chickpea
            8.4.7.1    Historical Trend (2018-2023)
            8.4.7.2    Forecast Trend (2024-2032)
        8.4.8    Others
    8.5    Global Vegetable Protein Market by Type
        8.5.1    Concentrates
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Textured
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Isolates
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Vegetable Protein Market by Form
        8.6.1    Dry
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Liquid
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Vegetable Protein Market by End Use
        8.7.1    Food
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Feed
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
    8.8    Global Vegetable Protein Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032) 
9    North America Vegetable Protein Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Vegetable Protein Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Vegetable Protein Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Vegetable Protein Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Vegetable Protein Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Archer Daniels Midland Company
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    DuPont de Nemours, Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Cargill, Incorporated
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    BENEO GmbH
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Roquette Frères
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Coöperatie AVEBE U.A.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market

 

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 Key Figures and Tables

1.    Global Vegetable Protein Market: Key Industry Highlights, 2018 and 2032
2.    Global Vegetable Protein Historical Market: Breakup by Sources (USD Billion), 2018-2023
3.    Global Vegetable Protein Market Forecast: Breakup by Sources (USD Billion), 2024-2032
4.    Global Vegetable Protein Historical Market: Breakup by Type (USD Billion), 2018-2023
5.    Global Vegetable Protein Market Forecast: Breakup by Type (USD Billion), 2024-2032
6.    Global Vegetable Protein Historical Market: Breakup by Form (USD Billion), 2018-2023
7.    Global Vegetable Protein Market Forecast: Breakup by Form (USD Billion), 2024-2032
8.    Global Vegetable Protein Historical Market: Breakup by End Use (USD Billion), 2018-2023
9.    Global Vegetable Protein Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10.    Global Vegetable Protein Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Vegetable Protein Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Vegetable Protein Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Vegetable Protein Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Vegetable Protein Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Vegetable Protein Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Vegetable Protein Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Vegetable Protein Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Vegetable Protein Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Vegetable Protein Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Vegetable Protein Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Vegetable Protein Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Global Vegetable Protein Market Structure

Key Questions Answered in the Report

In 2023, the global vegetable protein market attained a value of nearly USD 11.64 billion.

The market is projected to grow at a CAGR of 6% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 19.60 billion by 2032.

The major market drivers include rising disposable incomes, growing vegan and flexitarian population, the increasing health awareness, the rising demand for dietary supplements, and advancements in the food processing sector.

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

The major regions in the vegetable protein market 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 market are concentrates, textured, and isolates.

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

The various end uses of vegetable protein are food and feed.

The major players in the market 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 11.64 billion in 2023, 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 2024-2032, growing at a CAGR of 6%. The market is projected to reach USD 19.60 billion by 2032.

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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