Texturized Vegetable Protein Market

2021 Analysis and Review: Texturized Vegetable Protein Market by Product Type – Soy, Wheat, Pea, and Rice for 2021-2031

About the Report

The number of flexitarians is rapidly increasing, thus propelling the demand for texturized vegetable protein products. As a result of increasing incidence of chronic ailments, consumers are shifting towards healthy food choices. A significant number of these conditions are considered preventable with healthy diets and few lifestyle changes. As a result of the increasing health awareness, the demand for texturized vegetable proteins is set to increase. Also consumer preference for high protein diet has been favoring the overall expansion.

In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for texturized vegetable protein. The report tracks the global sales of texturized vegetable protein products in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the food industry in general, and texturized vegetable protein products in particular.

How Lucrative is Future Outlook for Texturized Vegetables Market in Comparison to Historical Pattern?

Over the past few years, there has been an increasing shift towards vegetarianism among consumers. This trend has positively affected the demand for plant-based products such as texturized vegetable protein products. In 2008, according to the Vegetarian Times Magazine, over 7.3 million adults in the U.S. were vegetarians, which is 3.2% of the total population. With the number of consumers following vegetarian or flexitarian diet set to rise in the coming years, the demand for texturized vegetable protein is expected to scale higher.

Texturized vegetable protein has emerged as a replacement for proteins such as whey protein, meat protein, egg protein, and others for consumers favoring the vegan trend. Some of the leading names in the food sector have already joined the bandwagon, paving way for the growth of the market. For instance, Beyond Meat uses soy protein with non-genetically modified soy in its chicken-free strips. Consumers are now following the new trend of consuming food containing texturized vegetable protein such as yoghurt smoothies, breakfast cereals, Bakery products and many more.

The increasing demand for texturized vegetable protein has led to the emergence and presence of a significantly high number of domestic and small-scale texturized vegetable protein manufacturers across the globe. Moreover, their increasing presence across online platforms has bode well for the overall market. FMI has forecast the texturized vegetable protein market to exhibit 6.5% CAGR between 2021 and 2031 in comparison to 5.8% registered between 2016 and 2020 as focus towards healthy lifestyle increases.

How is Demand for Vegan and High-protein Ingredients Driving Texturized Vegetable Protein Sales?

Along with health consciousness among consumers, their preferences are evolving. As a result they are inclining towards consuming food where no animal is harmed and that causes less environmental damages. This trend has catapulted texturized vegetable protein products to the fore of retail shelves. The growing acceptance of veganism has been aiding overall expansion. According to the Plant Based Foods Association, the retail sales of plant-based foods in the U.S. increased by 11.4% in the past year. Also the increasing demand for vegan, gluten free, and nutrition rich sources of protein has been favoring the surging sales.

Why are Texturized Vegetables More Popular Among Athletes?

Texturized vegetable proteins are easier to digest as compared to other animal-derived proteins, which also includes dairy products such as whey protein. For instance, pea protein is naturally high in branched chain amino acids- leucine, isoleucine and valine (BCCAAs). Its chemical structure is absorbed and catabolized (broken down for energy) within the muscle. This aspect is particularly important to athletes and fitness enthusiasts, which has resulted into increasing demand for texturized vegetable protein nutrition.

What are Label Claims for Conventional Texturized Vegetable Protein Foods and Dietary Supplements?

The popularity of texturized vegetable protein is increasing among food manufacturers, as it is a clean label ingredient. According to the U.S. Food & Drug Administration (FDA), regulations for Label Claims for Conventional Foods and Dietary Supplements has to be followed by every texturized vegetable protein manufacturer in this market. A food label of texturized vegetable protein should contain information describing the food product and ingredients used. Because textured vegetable protein are derived from plant-based sources they are considered ideal candidate clean label.

What is the Effect of Increasing Healthcare Cost on Texturized Vegetable Protein Sales?

Increasing healthcare cost has been compelling consumers to follow a healthy lifestyle to improve immunity against chronic ailments. Consequently, there is rising demand for protein derived plant-based sources. Besides this, the rising incidence of various chronic ailments has been supporting the overall expansion of the market.

Consumers across some of the mature markets have been focusing on diet control, thanks to high prevalence of obesity, diabetes, heart ailments, and other chronic diseases. According to the Centers for Disease Control and Prevention (CDC), the prevalence of obesity in the U.S. stood at 42.4% in 2017-2018 and the estimated annual medical cost of obesity in the U.S. was recorded at US$ 147 Bn in 2008. Since then healthcare spending has significantly increased, compelling consumers to focus on healthier lifestyle and rethink about their food habits.

According to the World Health Organization (WHO), diabetes continues to be a major cause of heart attacks, stroke, kidney failure, and other chronic diseases. Besides this, the WHO has found that cardiovascular diseases account for nearly 17.9 million deaths worldwide each year. With the burden of various chronic ailments rising, coupled with increasing healthcare costs, more consumers are likely to shift towards a healthier living, creating prospects for textured vegetable protein sales.

Opportunities Abound in Texturized Vegetable Protein

As consumer interest and demand for new products increases, a reduction in the consumption of meat will be observed. One approach is to develop meat analogues which will be similar in taste and texture just like meat itself individual focus towards the development of texture and taste must be considered by texturized vegetable protein manufacturers, as consumer approach towards product texture and savory aspects vary significantly.

Further in developing countries, young consumers are now demanding more of clean labeled protein as sport nutrition. This also leads to an opportunity for texturized vegetable protein.

Country-wise Insights

How big is the Opportunity in US Texturized Vegetable Protein?

FMI has projected North America to remain one of the most lucrative texturized vegetable protein markets throughout the course of the forecast period. One of the key factors supporting expansion of texturized vegetable protein is the U.S. is increasing per capita consumption expenditure is due to rising awareness about health-related issues. Further it is estimated that increasing per capita expenditure on beverages will continue supporting growth of the texturized vegetable protein industry.

U.S. remains one of the largest markets for texturized vegetable protein in the world, which invariably makes it a lucrative pocket for manufacturers. The U.S. accounted for 91.7% of the North America market for texturized vegetable protein in 2019. The increasing demand for natural ingredients is an opportunity for the manufacturers to expand their portfolio over the forecast period. In the meantime, increasing vegan population in the U.S. will immensely support sales of plant-based protein. According to a survey (sample size – 1,033) conducted by Gallup in 2018, 3% of Americans said that they were vegans. With vegan population set to rise in America, the demand for texturized vegetable proteins will increase in the coming years.

How big is the Opportunity in China Texturized Vegetable Protein?

FMI has projected China to remain one of the most lucrative markets in East Asia throughout the course of the forecast period. The rising incidence of various chronic diseases, besides high prevalence of obesity in China has been contributing towards changing eating patterns among consumers. According to the World Heart Federation, non-communicable diseases including heart diseases are expected to cause 87% of mortality in China.

A National Health Commission report, released in China in 2020 has found that more than half of adults in the country can be classified as overweight, of whom nearly 16.4% are overweight. The rising prevalence of obesity, besides cardiovascular ailments has been pushing for healthier lifestyle, creating growth opportunities for the market in China.

How big is the Opportunity in Germany Texturized Vegetable Protein?

In recent years, the vegan population in Germany has rapidly expanded. Much of the vegan population sees veganism as a lifestyle choice, not just a dietary restriction. An increase in desired wellness resulted in changes in consumer diets, facilitating the rise texturized vegetable protein among the German population, that is increasingly concerned about animal welfare, the environment, and, especially, their health. Besides this, the presence of companies such as Cargill Inc. has been supporting expansion in Germany.

How Big is Opportunity for Texturized Vegetable Sales in India?

According to the National Diabetes and Diabetic Retinopathy Survey Report, the prevalence of diabetes in India stood at 11.8%. Diabetes and diabetic retinopathy have emerged as a significant non-communicable disease, resulting in ocular morbidity. With the incidence of various chronic ailments showing no signs of slowing down, an increasing number of people are likely to adopt food promoting a better health.

A survey conducted by the United Nations Food and Agriculture Organization has indicated that India has more number of vegetarians than rest of the world put together. With an increasing number of consumers adopting a vegetarian lifestyle, India will make for a lucrative market for texturized vegetable sales.

What Supports Texturized Vegetable Protein Sales in U.K.?

The U.K. is expected to remain one of the key markets for texturized vegetable protein. The high prevalence of diabetes has been supporting sales in the country. According to the Diabetes.co.uk statistics, the prevalence of diabetes in the country is forecast to touch 5 million by the end of 2025. While mortality because of heart diseases is on decline, it continues to pose immense burden on the country. Consequently, focus on plant-based sources of protein as a key ingredient in food products has greatly increased. This has been creating attractive opportunities for sales in the U.K.

Category Wise

Why is Soy Protein More Preferred as Texturized Vegetable Protein?

The soy protein segment is expected to hold 70.0% of global texturized vegetable protein market in 2030. Soy protein is known to have several health benefits. Most importantly it is considered to be a safer alternative for meat protein, aiding in muscle building. It is also known to have 9 essential amino acids and provide a multitude of functional benefits to food processors. Also the rising popularity of natural soy products such as tempeh, tofu, edamame, and soy milk has been aiding the overall expansion of the segment.

Which Form of Texturized Vegetable Protein is More in Demand?

Granules form is expected to hold 29.0% in 2030 share globally. Texturized vegetable protein -based products are mainly called meal replacements. Texturized vegetable protein in granules form is used in cereals, chili, stews and other snack products.

Which End User is Exhibiting High Demand for Texturized Vegetable Protein?

The food industry is expected to hold the maximum share of the market through the forecast period.  Within the food sector, the meat analogues segment is expected to showcase high demand for texturized vegetable protein. The increasing demand for protein derived from plant-based sources has been creating growth opportunities within the industry.

Which Distributions Channel is More Preferred?

Direct distribution channel holds maximum share in the market. Direct distribution channel make it possible for the manufacturers to know their buyers and their behavior towards the product.  However, over the forecast period the sales via indirect channels have been expected to improve as well.

Competitive Landscape

Global texturized vegetable protein is primarily characterized by presence of a large number of local, regional and multinational companies. Regional players are relatively highly concentrated in texturized vegetable protein as compared to local players and multinational players. Moreover, regional players are trying to increase their reach across the world. Established players on the other hand are strengthening their position by acquiring local players. This is also intended to have a powerful product portfolio. Besides this, they have been adopting various strategies for expansion such as building new facilities.

For instance, Cargill Inc., in January 2017, started construction of a new US$ 60 Mn protein business headquarters in Wichita, U.S. to increase its protein production. Cargill Inc., the largest company in the USA, has grown to one of the world's top producers and distributors of agricultural products and will continue to grow in its sector and win the hearts of people.

In 2017, E.I. du Pont de Nemours & Co, launched SUPRO XT 55 which is an isolated Soy Protein which will help manufacturers of beverages to maintain protein costs with the on-going trend of consuming plant- based protein.

In 2020, MGP Ingredients, Inc, announces a new product line “ProTerra” in the texturized vegetable protein market. ProTerra offered a new range of textured pea with TruTex (textured wheat).

Some of the leading companies operating in the texturized vegetable protein market are:

  • Archer Daniels Midland Company
  • CHS Inc.
  • Roquette Frères
  • Beneo GmbH
  • Danisco A/S
  • Vestkron A/S
  • Cargill Inc.
  • FUJI OIL CO., LTD.
  • Puris Proteins, LLC.
  • Ingredion Inc.

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of the Report

Attribute

Details

Forecast Period

2015-2030

Historical Data Available for

2015-2019

Market Analysis

USD Million for value and Metric Tons for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa

Key Segments Covered

Product Type, Nature, Form, End Users, Distribution Channel, Regions

Key Companies Profiled

  • Archer Daniels Midland Company
  • CHS Inc.
  • Roquette Frères
  • Beneo GmbH
  • Danisco A/S
  • Vestkron A/S
  • Cargill Inc.
  • FUJI OIL CO., LTD.
  • Puris Proteins, LLC.
  • MGP Ingredients, Inc.
  • Crown Soya Protein Group
  •  Sotexpro SA
  • Wilmar International Ltd.
  •  Gushen Biotechnology Group Co., Ltd.
  • Ingredion Inc.

Report Coverage

Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in the Report

Q1. Which is the most lucrative market for texturized vegetable protein?

The U.S. currently leads the global market for texturized vegetable protein. Sales in U.S. will account for over 91.7% of total demand in North America.

Q2. Which is the top-selling product type of texturized vegetable protein?

Soy protein is highly sought-after among products available. Soy protein is expected to continue leading the market for texturized vegetable protein through 2031. Other than soy and pea, proteins such as faba bean, lentil, and corn are also available in the market.

Q3. Who is the leading end user of texturized vegetable protein?

Industrial sector remains the leading end user of texturized vegetable protein as application continues to rise in bakery, snacks, ready meals, sports nutrition, clinical nutrition, baby food, meat analogues and others.

Q4. Which form of texturized vegetable protein is more preferred?

Granules form is expected to hold maximum share in the market due to their increasing application in various food products such as cereals, snacks, and others.  

Q5. Which are some of the leading companies offering texturized vegetable protein?

Some of the leading companies offering texturized vegetable protein are Archer Daniels Midland Company, CHS Inc., Roquette Frères, Beneo GmbH, Danisco A/S, Vestkron A/S, Cargill Inc., FUJI OIL CO., LTD., Puris Proteins, LLC., MGP Ingredients, Inc., Crown Soya Protein Group, Sotexpro SA, Wilmar International Ltd., Gushen Biotechnology Group Co., Ltd.,Ingredion Inc.

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  • Is this research conducted by Future Market Insights?

    Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst.

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology.

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request

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Key Segments

Product Type

  • Soy Protein
  • Wheat Protein
  • Pea Protein
  • Rice Protein

Nature

  • Organic
  • Conventional

Form

  • Chunks
  • Slice
  • Flakes
  • Granules

End Users

  • Household
  • Commercial
  • Industry
    • Food Industry
      • Bakery
      • Snacks
      • Ready Meals
      • Sports Nutrition
      • Clinical Nutrition
      • Baby Food
      • Meat Analogues
      • Others
    • Animal Feed

Distribution Channel

  • Direct
  • Indirect
    • Store Based
    • Hypermarket
    • Convenience St.
    • Traditional Store
    • Online Retails

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Middle East and Africa (MEA)
  • Oceania

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