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Market Snapshot

CAGR:7.24

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	7.24

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Report Overview

The Vegetable Protein Market size is anticipated to witness a Compound Annual Growth Rate (CAGR) of 6.75% between 2022 and 2032. The market size is projected to expand by USD 10,325.78 million. The growth of the market hinges on several factors, including the increasing shift towards plant-based diets, rising awareness about the health benefits of vegetable protein, and growing demand for sustainable protein sources. Vegetable protein, derived from plant-based sources, serves as an alternative to animal-based protein and is gaining traction due to its nutritional and environmental benefits. It encompasses proteins extracted from legumes, grains, nuts, seeds, and other plant sources. Vegetable protein finds applications in a variety of food and beverage products, including plant-based meat substitutes, protein-rich snacks, and dairy alternatives.

Vegetable Protein Market Overview:

Drivers:

One of the pivotal drivers propelling the growth of the vegetable protein market is the rising consumer preference for plant-based diets. As individuals become more health-conscious and environmentally aware, there is a noticeable shift towards diets that emphasize plant-derived proteins. Vegetable protein offers a sustainable and ethical protein source that aligns with these preferences, leading to its increased adoption in various food products. Furthermore, the growing concern about the environmental impact of animal agriculture is pushing consumers towards sustainable protein alternatives, driving the demand for vegetable protein.

Trends:

An influential trend shaping the vegetable protein market is the innovation in product formulations and applications. Food manufacturers are continually exploring creative ways to incorporate vegetable protein into a wide range of products. This includes the development of plant-based burgers, sausages, dairy-free yogurt, and protein-enriched snacks. Additionally, the advancement of food technology is enabling the creation of more realistic and palatable plant-based meat alternatives, catering to the taste and texture preferences of consumers.

Restraints:

Supply chain complexities and sourcing challenges pose significant restraints to the vegetable protein market growth. The consistent supply of quality plant-based protein sources can be influenced by factors such as weather conditions, agricultural practices, and global trade dynamics. Variability in supply can lead to price fluctuations and affect the overall availability of vegetable protein, potentially impacting market growth.

Vegetable Protein Market Segmentation by Application: The plant-based meat substitutes segment is poised to experience substantial growth during the forecast period. As the demand for sustainable and cruelty-free protein sources increases, plant-based meat substitutes are gaining traction as a viable alternative to traditional meat products. Vegetable protein is a key ingredient in these substitutes, offering a texture and flavor reminiscent of animal-derived meats. This segment's growth is also fueled by the expansion of vegetarian and vegan diets, coupled with the desire for healthier and environmentally friendly dietary choices.

Vegetable Protein Market Segmentation by Type: The soy protein segment is expected to witness robust growth due to its versatility and nutritional profile. Soy protein, derived from soybeans, serves as a prominent source of vegetable protein and finds applications in various food products. It is a complete protein, containing all essential amino acids required by the human body. The demand for soy protein is driven by its incorporation into products like tofu, tempeh, soy milk, and meat alternatives.

Regional Overview:

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North America is projected to contribute significantly to the growth of the global vegetable protein market during the forecast period. The region's well-established plant-based food industry, coupled with the increasing adoption of vegetarian and vegan diets, is driving the demand for vegetable protein. Additionally, numerous food companies in North America are investing in research and development to create innovative plant-based products that cater to evolving consumer preferences for sustainable and healthy dietary options.

Vegetable Protein Market Customer Landscape: The vegetable protein market report encompasses the customer adoption lifecycle, ranging from early adopters to laggards. It delves into adoption rates across different regions based on market penetration. Furthermore, the report includes key purchasing criteria and drivers of price sensitivity to assist companies in devising effective growth strategies.

Major Vegetable Protein Market Companies: Companies in the vegetable protein market are employing diverse strategies, including partnerships, acquisitions, geographical expansion, product diversification, and new product launches, to enhance their market presence.

Beyond Meat Inc.
Archer Daniels Midland Company
Cargill Incorporated
Roquette Frères
Ingredion Incorporated
DuPont de Nemours, Inc.
Kerry Group PLC
Glanbia PLC
Axiom Foods Inc.
Cosucra Groupe Warcoing SA

The research report also provides comprehensive analyses of the competitive landscape, offering insights into 20 key market players, including their categorization as pure play, category-focused, industry-focused, or diversified companies. The qualitative and quantitative analyses help assess the broader business environment and the strengths and weaknesses of key market players.

Segment Overview:

The vegetable protein market report presents revenue growth forecasts at global, regional, and country levels, accompanied by an analysis of the latest trends and growth prospects from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032):

Plant-based meat substitutes
Dairy alternatives
Protein-rich snacks
Nutritional supplements
Others

Type Outlook (USD Million, 2019 - 2032):

Soy protein
Pea protein
Wheat protein
Rice protein
Others

Geography Outlook (USD Million, 2019 - 2032):

North America

The U.S.
Canada

Europe

U.K.
Germany
France
Rest of Europe

APAC

China
India

South America

Brazil
Argentina
Chile

Middle East & Africa

South Africa
Saudi Arabia
Rest of the Middle East & Africa

Table of Contents

Chapter 1 Vegetable Protein Market Overview
1.1 Vegetable Protein Definition
1.2 Global Vegetable Protein Market Size Status and Outlook (2013-2028)
1.3 Global Vegetable Protein Market Size Comparison by Region (2013-2028)
1.4 Global Vegetable Protein Market Size Comparison by Type (2013-2028)
1.5 Global Vegetable Protein Market Size Comparison by Application (2013-2028)
1.6 Global Vegetable Protein Market Size Comparison by Sales Channel (2013-2028)
1.7 Vegetable Protein Market Dynamics
1.7.1 Market Drivers/Opportunities
1.7.2 Market Challenges/Risks
1.7.3 Market News (Mergers/Acquisitions/ Expansion)
Chapter 2 Vegetable Protein Market Segment Analysis by Player
2.1 Global Vegetable Protein Sales and Market Share by Player (2016-2018)
2.2 Global Vegetable Protein Revenue and Market Share by Player (2016-2018)
2.3 Global Vegetable Protein Average Price by Player (2016-2018)
2.4 Players Competition Situation & Trends
2.5 Conclusion of Segment by Player
Chapter 3 Vegetable Protein Market Segment Analysis by Type
3.1 Global Vegetable Protein Market by Type
3.1.1 >80%
3.1.2 <80%
3.2 Global Vegetable Protein Sales and Market Share by Type (2013-2018)
3.3 Global Vegetable Protein Revenue and Market Share by Type (2013-2018)
3.4 Global Vegetable Protein Average Price by Type (2013-2018)
3.5 Leading Players of Vegetable Protein by Type in 2017
3.6 Conclusion of Segment by Type
Chapter 4 Vegetable Protein Market Segment Analysis by Application
4.1 Global Vegetable Protein Market by Application
4.1.1 For Food & Beverage
4.1.2 For Feed
4.2 Global Vegetable Protein Sales and Market Share by Application (2013-2018)
4.3 Leading Consumers of Vegetable Protein by Application in 2017
4.4 Conclusion of Segment by Application
Chapter 5 Vegetable Protein Market Segment Analysis by Sales Channel
5.1 Global Vegetable Protein Market by Sales Channel
5.1.1 Direct Channel
5.1.2 Distribution Channel
5.2 Global Vegetable Protein Sales and Market Share by Sales Channel (2013-2018)
5.3 Leading Distributors/Dealers of Vegetable Protein by Sales Channel in 2017
5.4 Conclusion of Segment by Sales Channel
Chapter 6 Vegetable Protein Market Segment Analysis by Region
6.1 Global Vegetable Protein Market Size and CAGR by Region (2013-2028)
6.2 Global Vegetable Protein Sales and Market Share by Region (2013-2018)
6.3 Global Vegetable Protein Revenue and Market Share by Region (2013-2018)
6.4 North America
6.4.1 North America Market by Country
6.4.2 North America Vegetable Protein Market Share by Type
6.4.3 North America Vegetable Protein Market Share by Application
6.4.4 United States
6.4.5 Canada
6.4.6 Mexico
6.5 Europe
6.5.1 Europe Market by Country
6.5.2 Europe Vegetable Protein Market Share by Type
6.5.3 Europe Vegetable Protein Market Share by Application
6.5.4 Germany
6.5.5 UK
6.5.6 France
6.5.7 Italy
6.5.8 Russia
6.5.9 Spain
6.6 Asia-Pacific
6.6.1 Asia-Pacific Market by Country
6.6.2 Asia-Pacific Vegetable Protein Market Share by Type
6.6.3 Asia-Pacific Vegetable Protein Market Share by Application
6.6.4 China
6.6.5 Japan
6.6.6 Korea
6.6.7 India
6.6.8 Southeast Asia
6.6.9 Australia
6.7 South America
6.7.1 South America Market by Country
6.7.2 South America Vegetable Protein Market Share by Type in 2017
6.7.3 South America Vegetable Protein Market Share by Application in 2017
6.7.4 Brazil
6.7.5 Argentina
6.7.6 Colombia
6.7.7 Chile
6.8 Middle East & Africa
6.8.1 Middle East & Africa Market by Country
6.8.2 Middle East & Africa Vegetable Protein Market Share by Type
6.8.3 Middle East & Africa Vegetable Protein Market Share by Application
6.8.4 Egypt
6.8.5 Saudi Arabia
6.8.6 South Africa
6.8.7 Nigeria
6.9 Conclusion of Segment by Region
Chapter 7 Profile of Leading Vegetable Protein Players
7.1 Danisco (Du Pont)
7.1.1 Company Snapshot
7.1.2 Product/Business Offered
7.1.3 Business Performance (Sales, Price, Revenue, Gross Margin and Market Share)
7.1.4 Strategy and SWOT Analysis
7.2 ADM
7.3 CHS
7.4 Manildra Group
7.5 Roquette
7.6 Midwest Grain
7.7 CropEnergies
7.8 Tereos Syral
7.9 Showa Sangyo
7.10 Fuji Oil
7.11 Cargill
7.12 Cosucra
7.13 Nisshin Oillio
7.14 Tate & Lyle
7.15 World Food Processing
7.16 Topagri
7.17 Gushen Biological
7.18 Shansong Biological
7.19 Tianguan
7.20 Yuwang Group
7.21 Scents Holdings
7.22 Chinalotus
7.23 Goldensea Industry
7.24 Sinoglory Health Food
7.25 Shuangta Food
7.26 Harbin Hi-tech Soybean
7.27 Fiber Source Biological Engineering
7.28 Oriental Protein Tech
7.29 Wonderful Industrial Group
7.29 Wonderful Industrial Group
Chapter 8 Upstream and Downstream Analysis of Vegetable Protein
8.1 Industrial Chain of Vegetable Protein
8.2 Upstream of Vegetable Protein
8.2.1 Raw Materials
8.2.2 Labor Cost
8.2.3 Manufacturing Expenses
8.2.4 Manufacturing Cost Structure
8.2.5 Manufacturing Process
8.3 Downstream of Vegetable Protein
8.3.1 Leading Distributors/Dealers of Vegetable Protein
8.3.2 Leading Consumers of Vegetable Protein
Chapter 9 Development Trend of Vegetable Protein (2018-2028)
9.1 Global Vegetable Protein Market Size (Sales and Revenue) Forecast (2018-2028)
9.2 Global Vegetable Protein Market Size and CAGR Forecast by Region (2018-2028)
9.3 Global Vegetable Protein Market Size and CAGR Forecast by Type (2018-2028)
9.4 Global Vegetable Protein Market Size and CAGR Forecast by Application (2018-2028)
9.5 Global Vegetable Protein Market Size Forecast by Sales Channel (2018-2028)
Chapter 10 Appendix
10.1 Research Methodology
10.2 Data Sources
10.3 Disclaimer
10.4 Analysts Certification

List of Tables and Figures

Figure Vegetable Protein Example
Figure Global Vegetable Protein Revenue (Million $) Status and Outlook (2013-2028)
Figure Global Vegetable Protein Revenue (Million $) Comparison by Region (2013-2028)
Figure Global Vegetable Protein Sales Comparison by Type (2013-2028)
Figure Global Vegetable Protein Sales Comparison by Application (2013-2028)
Figure Global Vegetable Protein Sales Comparison by Sales Channel (2013-2028)
Table Global Vegetable Protein Sales by Player (2016-2018)
Table Global Vegetable Protein Sales Market Share by Player (2016-2018)
Figure Global Vegetable Protein Sales Market Share by Player in 2017
Table Global Vegetable Protein Revenue (Million $) by Player (2016-2018)
Table Global Vegetable Protein Revenue Market Share by Player (2016-2018)
Figure Global Vegetable Protein Revenue Market Share by Player in 2017
Table Global Vegetable Protein Average Price by Player (2016-2018)
Figure Global Vegetable Protein Average Price by Player in 2017
Figure Global Vegetable Protein Players Competition Situation - Top 5 Players' Revenue Market Share in 2017
Figure Global Vegetable Protein Players Competition Trends - Top 5 Players' Revenue Market Share in 2018
Figure Example of >80%
Figure Global >80% Sales and Growth Rate (2013-2018)
Figure Example of <80%
Figure Global <80% Sales and Growth Rate (2013-2018)
Table Global Vegetable Protein Sales by Type (2013-2018)
Table Global Vegetable Protein Sales Market Share by Type (2013-2018)
Figure Global Vegetable Protein Sales Market Share by Type in 2017
Table Global Vegetable Protein Revenue (Million $) by Type (2013-2018)
Table Global Vegetable Protein Revenue Market Share by Type (2013-2018)
Figure Global Vegetable Protein Revenue Market Share by Type in 2017
Table Global Vegetable Protein Average Price by Type (2013-2018)
Figure Global Vegetable Protein Average Price by Type in 2017
Table Leading Players of Vegetable Protein by Type in 2017
Figure Example of For Food & Beverage
Figure Global Vegetable Protein for For Food & Beverage Sales and Growth Rate (2013-2018)
Figure Example of For Feed
Figure Global Vegetable Protein for For Feed Sales and Growth Rate (2013-2018)
Table Global Vegetable Protein Sales by Application (2013-2018)
Table Global Vegetable Protein Sales Market Share by Application (2013-2018)
Figure Global Vegetable Protein Sales Market Share by Application in 2017
Table Leading Consumers of Vegetable Protein by Application in 2017
Figure Example of Direct Channel
Figure Global Vegetable Protein for Direct Channel Sales and Growth Rate (2013-2018)
Figure Example of Distribution Channel
Figure Global Vegetable Protein for Distribution Channel Sales and Growth Rate (2013-2018)
Table Global Vegetable Protein Sales by Sales Channel (2013-2018)
Table Global Vegetable Protein Sales Market Share by Sales Channel (2013-2018)
Figure Global Vegetable Protein Sales Market Share by Sales Channel in 2017
Table Leading Distributors/Dealers of Vegetable Protein by Sales Channel in 2017
Table Global Vegetable Protein Market Size and CAGR by Region (2013-2028)
Table Global Vegetable Protein Sales by Region (2013-2018)
Table Global Vegetable Protein Sales Market Share by Region (2013-2018)
Figure Global Vegetable Protein Sales Market Share by Region in 2017
Table Global Vegetable Protein Revenue (Million $) by Region (2013-2018)
Table Global Vegetable Protein Revenue Market Share by Region (2013-2018)
Figure Global Vegetable Protein Revenue Market Share by Region in 2017
Table North America Vegetable Protein Sales by Country (2013-2018)
Figure North America Vegetable Protein Sales Market Share by Country (2013-2018)
Table North America Vegetable Protein Revenue by Country (2013-2018)
Figure North America Vegetable Protein Revenue Market Share by Country (2013-2018)
Figure North America Vegetable Protein Sales Market Share by Type in 2017
Figure North America Vegetable Protein Sales Market Share by Application in 2017
Figure United States Vegetable Protein Sales and Growth Rate (2013-2018)
Figure United States Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Canada Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Canada Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Mexico Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Mexico Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Table Europe Vegetable Protein Sales by Country (2013-2018)
Figure Europe Vegetable Protein Sales Market Share by Country (2013-2018)
Table Europe Vegetable Protein Revenue by Country (2013-2018)
Figure Europe Vegetable Protein Revenue Market Share by Country (2013-2018)
Figure Europe Vegetable Protein Sales Market Share by Type in 2017
Figure Europe Vegetable Protein Sales Market Share by Application in 2017
Figure Germany Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Germany Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure UK Vegetable Protein Sales and Growth Rate (2013-2018)
Figure UK Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure France Vegetable Protein Sales and Growth Rate (2013-2018)
Figure France Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Italy Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Italy Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Russia Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Russia Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Spain Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Spain Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Table Asia-Pacific Vegetable Protein Sales by Country (2013-2018)
Figure Asia-Pacific Vegetable Protein Sales Market Share by Country (2013-2018)
Table Asia-Pacific Vegetable Protein Revenue by Country (2013-2018)
Figure Asia-Pacific Vegetable Protein Revenue Market Share by Country (2013-2018)
Figure Asia-Pacific Vegetable Protein Sales Market Share by Type in 2017
Figure Asia-Pacific Vegetable Protein Sales Market Share by Application in 2017
Figure China Vegetable Protein Sales and Growth Rate (2013-2018)
Figure China Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Japan Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Japan Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Korea Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Korea Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure India Vegetable Protein Sales and Growth Rate (2013-2018)
Figure India Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Southeast Asia Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Southeast Asia Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Australia Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Australia Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Table South America Vegetable Protein Sales by Country (2013-2018)
Figure South America Vegetable Protein Sales Market Share by Country (2013-2018)
Table South America Vegetable Protein Revenue by Country (2013-2018)
Figure South America Vegetable Protein Revenue Market Share by Country (2013-2018)
Figure South America Vegetable Protein Sales Market Share by Type in 2017
Figure South America Vegetable Protein Sales Market Share by Application in 2017
Figure Brazil Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Brazil Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Argentina Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Argentina Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Colombia Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Colombia Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Chile Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Chile Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Table Middle East & Africa Vegetable Protein Sales by Country (2013-2018)
Figure Middle East & Africa Vegetable Protein Sales Market Share by Country (2013-2018)
Table Middle East & Africa Vegetable Protein Revenue by Country (2013-2018)
Figure Middle East & Africa Vegetable Protein Revenue Market Share by Country (2013-2018)
Figure Middle East & Africa Vegetable Protein Sales Market Share by Type in 2017
Figure Middle East & Africa Vegetable Protein Sales Market Share by Application in 2017
Figure Egypt Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Egypt Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Saudi Arabia Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Saudi Arabia Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure South Africa Vegetable Protein Sales and Growth Rate (2013-2018)
Figure South Africa Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Figure Nigeria Vegetable Protein Sales and Growth Rate (2013-2018)
Figure Nigeria Vegetable Protein Revenue (Million $) and Growth Rate (2013-2018)
Table Company Snapshot of Danisco (Du Pont)
Table Vegetable Protein Introduction of Danisco (Du Pont)
Table Vegetable Protein Sales, Price, Revenue, Gross Margin and Market Share of Danisco (Du Pont) (2016-2018)
Table Industrial Chain of Vegetable Protein
Table Manufacturing Cost Structure of Vegetable Protein
Table General Manufacturing Process of Vegetable Protein
Table Leading Distributors/Dealers of Vegetable Protein
Table Leading Consumers of Vegetable Protein
Figure Global Vegetable Protein Sales and Growth Rate Forecast (2018-2028)
Figure Global Vegetable Protein Revenue and Growth Rate Forecast (2018-2028)
Table Global Vegetable Protein Market Size and CAGR Forecast by Region (2018-2028)
Table Global Vegetable Protein Market Size and CAGR Forecast by Type (2018-2028)
Table Global Vegetable Protein Market Size and CAGR Forecast by Application (2018-2028)
Table Global Vegetable Protein Market Size and CAGR Forecast by Sales Channel (2018-2028)

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Vegetable Protein Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032