Vegetable Protein Market Synopsis

Vegetable Protein Market Size Was Valued at USD 11.66 Billion in 2023, and is Projected to Reach USD 21.8 Billion by 2032, Growing at a CAGR of 7.2% From 2024-2032.

• Vegetable protein refers to proteins derived from plant sources, encompassing a diverse range of plant-based ingredients like soy, pea, wheat, rice, and more. These proteins serve as crucial nutritional components, offering an alternative to animal-based proteins for individuals following vegetarian, vegan, or flexitarian diets. Rich in essential amino acids, vegetable proteins are integral to various food and beverage applications, including plant-based meat alternatives, dairy substitutes, and nutrition supplements. Recognized for environmental sustainability, health benefits, and ethical considerations, the growing demand for vegetable proteins reflects a broader shift towards plant-centric diets and the development of sustainable food systems.
• There is an increasing awareness of the health benefits associated with plant-based diets, leading to a growing demand for vegetable proteins as alternatives to traditional animal-derived proteins. Consumers are embracing plant-based lifestyles for reasons such as weight management, heart health, and sustainability. The market is witnessing a surge in innovation and product development. Food companies are investing in research and development to enhance the taste, texture, and nutritional profile of vegetable protein products, making them more appealing to a broader consumer base. Technological advancements in extraction and processing methods are also contributing to the market's growth by improving the quality and versatility of vegetable proteins. Vegetable proteins are increasingly viewed as environmentally friendly, influencing consumer preferences and corporate strategies. As demand for plant-based protein rises, the vegetable protein market is expected to expand, catering to health-conscious consumers worldwide.

Vegetable Protein Market Trend Analysis

Growing Health and Wellness Trends

• Vegetable proteins tend to be lower in saturated fat and cholesterol while offering substantial fiber, iron, and zinc content. This correlates with a diminished risk of cardiovascular diseases, type 2 diabetes, and improved gut health. The emphasis on preventative health positions vegetable protein as an appealing option for health-conscious individuals targeting to efficiently nourish their bodies and enhance their long-term well-being.
• This trend extends beyond disease prevention, with plant-based proteins increasingly linked to improved weight management, heightened energy levels, and even enhanced athletic performance. This holistic health approach resonates with consumers seeking not only disease prevention but also overall physical and mental well-being. The vegetable protein market is fuelled by the health and wellness trend, as consumers seek a nutritious, delectable solution for their bodies, promoting a healthier future and promoting preventive health.

Growing Demand for Plant-Based Diets

• The growing demand for plant-based diets represents a significant opportunity factor in the vegetable protein market. As consumers increasingly prioritize health and sustainability, plant-based diets have gained substantial popularity. This shift is driven by various factors, including concerns about animal welfare, environmental sustainability, and the recognition of the health benefits associated with plant-centric eating.
• Consumers are becoming more conscious of their food choices and are actively seeking alternatives to animal-derived proteins. Vegetable proteins, sourced from plants such as soy, pea, and wheat, offer a viable and nutritious solution. The rise in vegetarianism and veganism, with a broader trend towards flexitarianism, has created a healthy market for vegetable proteins. Food manufacturers are responding to this demand by innovating and introducing a diverse range of plant-based products, further raising the growth of the vegetable protein market. Businesses in the vegetable protein sector are presented with a convincing opportunity to meet the escalating demand for sustainable and plant-based protein sources.

Vegetable Protein Market Segment Analysis:

Vegetable Protein Market Segmented based on Source, Type, Form, Application, End-User.

By Type, Protein Concentrates segment is expected to dominate the market during the forecast period

• Protein concentrates offer a cost-effective solution, catering to a broader consumer base compared to pricier isolates. Their moderate protein content packs a nutritional punch, appealing to health-conscious individuals seeking a good protein boost without breaking the bank. The Concentrates boast a richer blend of nutrients beyond just protein, including fiber, vitamins, and minerals, making them well-rounded dietary additions. Their versatility shines in various applications, excelling in food and beverage formulations, dietary supplements, and even animal feed. This ability to seamlessly integrate into diverse products fuels their widespread adoption and market dominance

By Form, the Dry segment held the largest share of 83.5% in 2022

• The dry form of vegetable protein involves the removal of moisture content through processes such as drying and dehydration. This form offers several advantages, including longer shelf life, ease of storage, and convenient transportation, making it a preferred choice for manufacturers and consumers alike. The popularity of dry vegetable protein is attributed to its versatility in various food applications. It serves as a crucial ingredient in the formulation of plant-based products such as protein bars, snacks, powdered supplements, and meat alternatives. Dry vegetable protein concentrates and isolates can be easily incorporated into a wide range of recipes, providing an efficient way to boost the protein content of food products. As consumers increasingly seek convenient and shelf-stable protein sources, the Dry segment in the Vegetable Protein market is composed for sustained growth, reflecting the demand for practical and adaptable plant-based protein solutions.

Vegetable Protein Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

• Asia Pacific is optimistic to dominate the Vegetable Protein market over the forecast period, driven by a confluence of factors that emphasize the region's economic, demographic, and dietary dynamics. The increasing population, attached to rising health consciousness and awareness of sustainable food choices, has led to an increased adoption of plant-based diets across countries in the Asia Pacific. The traditional diets in many Asian cultures often incorporate plant-based protein sources, aligning with the global trend toward healthier and more sustainable eating habits.
• Furthermore, the region's economic growth has resulted in an expanding middle-class population with higher disposable incomes, enabling consumers to invest in premium and health-conscious food choices. As a response to this demand, both local and international food manufacturers are introducing a diverse range of vegetable protein products, contributing to the market's robust growth in the Asia Pacific. The region's dominance in the Vegetable Protein market reflects a combination of cultural, economic, and health-driven factors that position it as a key player in the evolving landscape of plant-based nutrition.

Vegetable Protein Market Top Key Players:

• DuPont Industrial Biosciences (USA)
• Ingredion Incorporated (USA)
• Archer Daniels Midland (ADM) (USA)
• Bunge Limited (USA)
• Cargill, Inc.(USA)
• Conagra Brands, Inc. (USA)
• Beyond Meat, Inc. (USA)
• Impossible Foods Inc. (USA)
• Hain Celestial Group, Inc. (USA)
• Mondelez International, Inc. (USA)
• Blue Diamond Growers (USA)
• SunFood Superfoods Inc. (USA)
• Axiom Foods, Inc. (USA)
• Amy's Kitchen Inc. (USA)
• Evonik Industries (Germany)
• Kerry Group plc (Ireland)
• Roquette Frères (France)
• Aarkay Foods & Proteins Ltd. (India)
• Burcon NutraScience Inc. (Canada)
• Olam International Ltd. (Singapore), AND Other Major Players.

Key Industry Developments in the Vegetable Protein Market:

• In February 2024, Roquette is pushing the frontiers of the plant protein market by launching four multi-functional pea proteins designed to improve taste, texture, and creativity in plant-based food and high-protein nutritional products. By further expanding its established NUTRALYS plant protein portfolio, the leading ingredients company is bringing a host of new and improved application opportunities to the table for food manufacturers.
• In February 2024, Louis Dreyfus Company (LDC) announced the construction of a pea protein isolate production plant dedicated to its Plant Proteins business, at the site of its existing industrial complex in Yorkton, Saskatchewan, Canada.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. VEGETABLE PROTEIN MARKET BY SOURCE (2016-2030)
   1. VEGETABLE PROTEIN MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. SOY
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. PEAS
   5. WHEAT
   6. RICE
   7. CORN
   8. POTATO
7. VEGETABLE PROTEIN MARKET BY TYPE (2016-2030)
   1. VEGETABLE PROTEIN MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. PROTEIN CONCENTRATES
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. PROTEIN ISOLATES
   5. TEXTURED VEGETABLE PROTEIN
8. VEGETABLE PROTEIN MARKET BY FORM (2016-2030)
   1. VEGETABLE PROTEIN MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. DRY
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. LIQUID
9. VEGETABLE PROTEIN MARKET BY APPLICATION (2016-2030)
   1. VEGETABLE PROTEIN MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. FOOD AND BEVERAGES
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. DIETARY SUPPLEMENTS
   5. FEED
   6. BAKERY PRODUCTS
10. VEGETABLE PROTEIN MARKET BY END-USER (2016-2030)
    1. VEGETABLE PROTEIN MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. RETAIL
       1. Introduction And Market Overview
       2. Historic And Forecasted Market Size in Value (2016 – 2030F)
       3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
       4. Key Market Trends, Growth Factors And Opportunities
       5. Geographic Segmentation Analysis
    4. FOOD SERVICE
    5. INDUSTRIAL
11. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Positioning
       2. Vegetable Protein market Share By Manufacturer (2022)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. DUPONT INDUSTRIAL BIOSCIENCES (USA)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. INGREDION INCORPORATED (USA)
    4. ARCHER DANIELS MIDLAND (ADM) (USA)
    5. BUNGE LIMITED (USA)
    6. CARGILL, INC. (USA)
    7. CONAGRA BRANDS, INC. (USA)
    8. BEYOND MEAT, INC. (USA)
    9. IMPOSSIBLE FOODS INC. (USA)
    10. HAIN CELESTIAL GROUP, INC. (USA)
    11. MONDELEZ INTERNATIONAL, INC. (USA)
    12. BLUE DIAMOND GROWERS (USA)
    13. SUNFOOD SUPERFOODS INC. (USA)
    14. AXIOM FOODS, INC. (USA)
    15. AMY'S KITCHEN INC. (USA)
    16. EVONIK INDUSTRIES (GERMANY)
    17. KERRY GROUP PLC (IRELAND)
    18. ROQUETTE FRÈRES (FRANCE)
    19. AARKAY FOODS & PROTEINS LTD. (INDIA)
    20. BURCON NUTRASCIENCE INC. (CANADA)
    21. OLAM INTERNATIONAL LTD. (SINGAPORE)
12. GLOBAL VEGETABLE PROTEIN MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Source
       4. Historic And Forecasted Market Size By Type
       5. Historic And Forecasted Market Size By Form
       6. Historic And Forecasted Market Size By Application
       7. Historic And Forecasted Market Size By End-User
       8. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
13. INVESTMENT ANALYSIS
14. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. VEGETABLE PROTEIN MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. VEGETABLE PROTEIN MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. VEGETABLE PROTEIN MARKET COMPETITIVE RIVALRY
TABLE 005. VEGETABLE PROTEIN MARKET THREAT OF NEW ENTRANTS
TABLE 006. VEGETABLE PROTEIN MARKET THREAT OF SUBSTITUTES
TABLE 007. VEGETABLE PROTEIN MARKET BY TYPE
TABLE 008. BY NUTRITION MARKET OVERVIEW (2016-2028)
TABLE 009. COMPLETE PROTEIN MARKET OVERVIEW (2016-2028)
TABLE 010. INCOMPLETE PROTEIN MARKET OVERVIEW (2016-2028)
TABLE 011. BY SOURCE MARKET OVERVIEW (2016-2028)
TABLE 012. CEREAL PROTEIN MARKET OVERVIEW (2016-2028)
TABLE 013. LEGUME PROTEIN MARKET OVERVIEW (2016-2028)
TABLE 014. VEGETABLE PROTEIN MARKET BY APPLICATION
TABLE 015. FOOD INDUSTRY MARKET OVERVIEW (2016-2028)
TABLE 016. BEVERAGE MARKET OVERVIEW (2016-2028)
TABLE 017. MEDICAL & HEALTHCARE MARKET OVERVIEW (2016-2028)
TABLE 018. NORTH AMERICA VEGETABLE PROTEIN MARKET, BY TYPE (2016-2028)
TABLE 019. NORTH AMERICA VEGETABLE PROTEIN MARKET, BY APPLICATION (2016-2028)
TABLE 020. N VEGETABLE PROTEIN MARKET, BY COUNTRY (2016-2028)
TABLE 021. EUROPE VEGETABLE PROTEIN MARKET, BY TYPE (2016-2028)
TABLE 022. EUROPE VEGETABLE PROTEIN MARKET, BY APPLICATION (2016-2028)
TABLE 023. VEGETABLE PROTEIN MARKET, BY COUNTRY (2016-2028)
TABLE 024. ASIA PACIFIC VEGETABLE PROTEIN MARKET, BY TYPE (2016-2028)
TABLE 025. ASIA PACIFIC VEGETABLE PROTEIN MARKET, BY APPLICATION (2016-2028)
TABLE 026. VEGETABLE PROTEIN MARKET, BY COUNTRY (2016-2028)
TABLE 027. MIDDLE EAST & AFRICA VEGETABLE PROTEIN MARKET, BY TYPE (2016-2028)
TABLE 028. MIDDLE EAST & AFRICA VEGETABLE PROTEIN MARKET, BY APPLICATION (2016-2028)
TABLE 029. VEGETABLE PROTEIN MARKET, BY COUNTRY (2016-2028)
TABLE 030. SOUTH AMERICA VEGETABLE PROTEIN MARKET, BY TYPE (2016-2028)
TABLE 031. SOUTH AMERICA VEGETABLE PROTEIN MARKET, BY APPLICATION (2016-2028)
TABLE 032. VEGETABLE PROTEIN MARKET, BY COUNTRY (2016-2028)
TABLE 033. DUPONT: SNAPSHOT
TABLE 034. DUPONT: BUSINESS PERFORMANCE
TABLE 035. DUPONT: PRODUCT PORTFOLIO
TABLE 036. DUPONT: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 036. ADM: SNAPSHOT
TABLE 037. ADM: BUSINESS PERFORMANCE
TABLE 038. ADM: PRODUCT PORTFOLIO
TABLE 039. ADM: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 039. FUJIOIL: SNAPSHOT
TABLE 040. FUJIOIL: BUSINESS PERFORMANCE
TABLE 041. FUJIOIL: PRODUCT PORTFOLIO
TABLE 042. FUJIOIL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 042. WORLD FOOD PROCESSING: SNAPSHOT
TABLE 043. WORLD FOOD PROCESSING: BUSINESS PERFORMANCE
TABLE 044. WORLD FOOD PROCESSING: PRODUCT PORTFOLIO
TABLE 045. WORLD FOOD PROCESSING: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 045. CARGILL: SNAPSHOT
TABLE 046. CARGILL: BUSINESS PERFORMANCE
TABLE 047. CARGILL: PRODUCT PORTFOLIO
TABLE 048. CARGILL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 048. TOPAGRI: SNAPSHOT
TABLE 049. TOPAGRI: BUSINESS PERFORMANCE
TABLE 050. TOPAGRI: PRODUCT PORTFOLIO
TABLE 051. TOPAGRI: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 051. VICTORIA GROUP: SNAPSHOT
TABLE 052. VICTORIA GROUP: BUSINESS PERFORMANCE
TABLE 053. VICTORIA GROUP: PRODUCT PORTFOLIO
TABLE 054. VICTORIA GROUP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 054. ROQUETTE: SNAPSHOT
TABLE 055. ROQUETTE: BUSINESS PERFORMANCE
TABLE 056. ROQUETTE: PRODUCT PORTFOLIO
TABLE 057. ROQUETTE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 057. INNOVA FLAVORS: SNAPSHOT
TABLE 058. INNOVA FLAVORS: BUSINESS PERFORMANCE
TABLE 059. INNOVA FLAVORS: PRODUCT PORTFOLIO
TABLE 060. INNOVA FLAVORS: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. VEGETABLE PROTEIN MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. VEGETABLE PROTEIN MARKET OVERVIEW BY TYPE
FIGURE 012. BY NUTRITION MARKET OVERVIEW (2016-2028)
FIGURE 013. COMPLETE PROTEIN MARKET OVERVIEW (2016-2028)
FIGURE 014. INCOMPLETE PROTEIN MARKET OVERVIEW (2016-2028)
FIGURE 015. BY SOURCE MARKET OVERVIEW (2016-2028)
FIGURE 016. CEREAL PROTEIN MARKET OVERVIEW (2016-2028)
FIGURE 017. LEGUME PROTEIN MARKET OVERVIEW (2016-2028)
FIGURE 018. VEGETABLE PROTEIN MARKET OVERVIEW BY APPLICATION
FIGURE 019. FOOD INDUSTRY MARKET OVERVIEW (2016-2028)
FIGURE 020. BEVERAGE MARKET OVERVIEW (2016-2028)
FIGURE 021. MEDICAL & HEALTHCARE MARKET OVERVIEW (2016-2028)
FIGURE 022. NORTH AMERICA VEGETABLE PROTEIN MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 023. EUROPE VEGETABLE PROTEIN MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 024. ASIA PACIFIC VEGETABLE PROTEIN MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 025. MIDDLE EAST & AFRICA VEGETABLE PROTEIN MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 026. SOUTH AMERICA VEGETABLE PROTEIN MARKET OVERVIEW BY COUNTRY (2016-2028)