Textured Vegetable Protein Market By PRODUCT TYPE (Textured soy protein, Others), By END USER (Business to Business, Business to consumer), By FORM (Granules, Flakes, Chunks, Others): Global Opportunity Analysis and Industry Forecast, 2024-2035
The textured vegetable protein market size was valued at $1.5 billion in 2023 and is projected to reach $4.3 billion by 2035, growing at a CAGR of 9.4% from 2024 to 2035.
Textured vegetable protein is a plant-based protein specifically derived from pea, soyabean, wheat, and others. It is a meat substitute and has high protein and fiber content, while having zero fat or cholesterol. The textured vegetable protein is dry and shelf-stable product after processing and is available in different forms including granules, flakes, chunks, and others. Different variants of textured vegetable proteins are available in the market such as textured wheat protein, textured pea protein, textured soy protein and others.
Cost-effectiveness significantly drives the demand for textured vegetable protein market as consumers become increasingly price-conscious and seek affordable protein options, textured vegetable protein emerges as an attractive choice due to its relatively lower cost compared to animal-derived proteins. This affordability makes it accessible to a broader demographic, including budget-conscious consumers, families, and food manufacturers those who look to optimize production costs without compromising on quality or nutritional value. Moreover, the cost-effectiveness of textured vegetable protein extends beyond its retail price, as it offers economic benefits throughout the food supply chain. Its longer shelf life compared to fresh meat reduces food waste and storage costs which makes it a sensible choice for both consumers and retailers.
Moreover, the versatility of textured vegetable protein enhances its cost-effectiveness by allowing for a wide range of culinary applications in various food products. From meat analogues to snacks, cereals, and bakery items, textured vegetable protein is adopted into diverse recipes to create affordable and nutritious alternatives to traditional meat-based dishes. This versatility expands its market potential and offers food manufacturers opportunities for product innovation and differentiation which drives consumer interest and loyalty. Furthermore, as the demand for plant-based protein alternatives continues to grow globally, economies of scale in textured vegetable protein production are likely to further reduce costs and make it an even more cost-effective option in the future. Thus, all these factors drive the demand for textured vegetable protein market.
Supply chain vulnerabilities represent a significant restraint on the market demand for textured vegetable protein. Textured vegetable protein production relies heavily on a steady and reliable supply of raw materials, primarily soybeans or other plant proteins. However, the global agricultural supply chain is susceptible to various disruptions, including adverse weather conditions, fluctuations in crop yields, and geopolitical conflicts. These supply chain vulnerabilities result in shortages or fluctuations in the availability of raw materials which often lead to production delays and increased costs for textured vegetable protein manufacturers. In addition, dependence on a limited number of suppliers or regions for sourcing raw materials exacerbates supply chain risks and further impacts the demand for textured vegetable protein market.
Rise in the growth of the foodservice industry presents numerous opportunities for textured vegetable protein market as consumer preferences pivot toward healthier and more sustainable dining options, foodservice establishments like restaurants, cafes, and institutional catering services are increasingly integrating plant-based offerings into their menus. Textured vegetable protein emerges as a versatile solution for chefs and foodservice operators who seek to cater to the surging demand for plant-based protein alternatives. Its adaptable nature allows for seamless adoption into a myriad of dishes, ranging from burgers and tacos to stir-fries and salads. Moreover, leveraging textured vegetable protein, foodservice providers diversify their menu offerings and tap into the growing consumer demographic of vegans, vegetarians, and health-conscious individuals, thus enhancing their demand and competitiveness in the market.
Furthermore, the foodservice sector provides a platform for textured vegetable protein manufacturers to showcase the culinary possibilities of their products and adopt collaborations with industry stakeholders. Partnering with chefs and foodservice distributors enables textured vegetable protein suppliers to co-create innovative recipes and menu concepts that highlight the flavor, texture, and nutritional benefits of textured vegetable protein-based dishes. Thus, all these factors present several opportunities for textured vegetable protein market.
The textured vegetable protein market is segmented into type, form, end user, and region. By type, the market is classified into textured soy protein and others. By form, the market is divided into flakes, granules, chunks, and others. By end user, the market is bifurcated into B2B and B2C. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and the rest of Asia-Pacific), and Latin America (Brazil, Argentina, Colombia, and rest of Latin America) Middle East of Africa (GCC, South Africa, and rest of MEA).
Players operating in the global textured vegetable protein market have adopted various developmental strategies to expand their textured vegetable protein market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Archer Daniels Midland Company, Axiom Foods, Cargill, Incorporated Inc., Du Pont de Nemours and Company, Foodchem International Corporation, Hung Yang Foods Co., Ltd., Sonic Biochem Extraction Pvt Ltd, Südzucker Group (Beneo), Victoria Group A.D., and Wilmar International Limited.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the textured vegetable protein market analysis from 2023 to 2035 to identify the prevailing textured vegetable protein market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the textured vegetable protein market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global textured vegetable protein market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By PRODUCT TYPE
Textured soy protein
Others
By END USER
Business to Business
Business to consumer
By FORM
Granules
Flakes
Chunks
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Middle East and Africa
Gcc
South Africa
Rest of Middle East And Africa
Key Market Players
Archer Daniels Midland Company
Cargill Incorporated Inc.
Du Pont de Nemours and Company
Foodchem International Corporation
Hung Yang Foods Co., Ltd
Sonic Biochem Extraction Pvt Ltd
Südzucker Group(Beneo)
Victoria Group A.D.
Wilmar International Limited
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- CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
- CHAPTER 2: EXECUTIVE SUMMARY
- 2.1. CXO perspective
- CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter’s five forces analysis
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
- CHAPTER 4: TEXTURED VEGETABLE PROTEIN MARKET, BY PRODUCT TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Textured soy protein
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Others
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- CHAPTER 5: TEXTURED VEGETABLE PROTEIN MARKET, BY END USER
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Business to Business
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Business to consumer
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- CHAPTER 6: TEXTURED VEGETABLE PROTEIN MARKET, BY FORM
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Granules
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Flakes
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Chunks
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
- 6.5. Others
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by region
- 6.5.3. Market share analysis by country
- CHAPTER 7: TEXTURED VEGETABLE PROTEIN MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by PRODUCT TYPE
- 7.2.3. Market size and forecast, by END USER
- 7.2.4. Market size and forecast, by FORM
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Market size and forecast, by PRODUCT TYPE
- 7.2.5.1.2. Market size and forecast, by END USER
- 7.2.5.1.3. Market size and forecast, by FORM
- 7.2.5.2. Canada
- 7.2.5.2.1. Market size and forecast, by PRODUCT TYPE
- 7.2.5.2.2. Market size and forecast, by END USER
- 7.2.5.2.3. Market size and forecast, by FORM
- 7.2.5.3. Mexico
- 7.2.5.3.1. Market size and forecast, by PRODUCT TYPE
- 7.2.5.3.2. Market size and forecast, by END USER
- 7.2.5.3.3. Market size and forecast, by FORM
- 7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by PRODUCT TYPE
- 7.3.3. Market size and forecast, by END USER
- 7.3.4. Market size and forecast, by FORM
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. UK
- 7.3.5.1.1. Market size and forecast, by PRODUCT TYPE
- 7.3.5.1.2. Market size and forecast, by END USER
- 7.3.5.1.3. Market size and forecast, by FORM
- 7.3.5.2. Germany
- 7.3.5.2.1. Market size and forecast, by PRODUCT TYPE
- 7.3.5.2.2. Market size and forecast, by END USER
- 7.3.5.2.3. Market size and forecast, by FORM
- 7.3.5.3. France
- 7.3.5.3.1. Market size and forecast, by PRODUCT TYPE
- 7.3.5.3.2. Market size and forecast, by END USER
- 7.3.5.3.3. Market size and forecast, by FORM
- 7.3.5.4. Italy
- 7.3.5.4.1. Market size and forecast, by PRODUCT TYPE
- 7.3.5.4.2. Market size and forecast, by END USER
- 7.3.5.4.3. Market size and forecast, by FORM
- 7.3.5.5. Spain
- 7.3.5.5.1. Market size and forecast, by PRODUCT TYPE
- 7.3.5.5.2. Market size and forecast, by END USER
- 7.3.5.5.3. Market size and forecast, by FORM
- 7.3.5.6. Rest of Europe
- 7.3.5.6.1. Market size and forecast, by PRODUCT TYPE
- 7.3.5.6.2. Market size and forecast, by END USER
- 7.3.5.6.3. Market size and forecast, by FORM
- 7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by PRODUCT TYPE
- 7.4.3. Market size and forecast, by END USER
- 7.4.4. Market size and forecast, by FORM
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Market size and forecast, by PRODUCT TYPE
- 7.4.5.1.2. Market size and forecast, by END USER
- 7.4.5.1.3. Market size and forecast, by FORM
- 7.4.5.2. India
- 7.4.5.2.1. Market size and forecast, by PRODUCT TYPE
- 7.4.5.2.2. Market size and forecast, by END USER
- 7.4.5.2.3. Market size and forecast, by FORM
- 7.4.5.3. Japan
- 7.4.5.3.1. Market size and forecast, by PRODUCT TYPE
- 7.4.5.3.2. Market size and forecast, by END USER
- 7.4.5.3.3. Market size and forecast, by FORM
- 7.4.5.4. South Korea
- 7.4.5.4.1. Market size and forecast, by PRODUCT TYPE
- 7.4.5.4.2. Market size and forecast, by END USER
- 7.4.5.4.3. Market size and forecast, by FORM
- 7.4.5.5. Rest of Asia-Pacific
- 7.4.5.5.1. Market size and forecast, by PRODUCT TYPE
- 7.4.5.5.2. Market size and forecast, by END USER
- 7.4.5.5.3. Market size and forecast, by FORM
- 7.5. Latin America
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by PRODUCT TYPE
- 7.5.3. Market size and forecast, by END USER
- 7.5.4. Market size and forecast, by FORM
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Brazil
- 7.5.5.1.1. Market size and forecast, by PRODUCT TYPE
- 7.5.5.1.2. Market size and forecast, by END USER
- 7.5.5.1.3. Market size and forecast, by FORM
- 7.5.5.2. Argentina
- 7.5.5.2.1. Market size and forecast, by PRODUCT TYPE
- 7.5.5.2.2. Market size and forecast, by END USER
- 7.5.5.2.3. Market size and forecast, by FORM
- 7.5.5.3. Colombia
- 7.5.5.3.1. Market size and forecast, by PRODUCT TYPE
- 7.5.5.3.2. Market size and forecast, by END USER
- 7.5.5.3.3. Market size and forecast, by FORM
- 7.5.5.4. Rest of Latin America
- 7.5.5.4.1. Market size and forecast, by PRODUCT TYPE
- 7.5.5.4.2. Market size and forecast, by END USER
- 7.5.5.4.3. Market size and forecast, by FORM
- 7.6. Middle East and Africa
- 7.6.1. Key market trends, growth factors and opportunities
- 7.6.2. Market size and forecast, by PRODUCT TYPE
- 7.6.3. Market size and forecast, by END USER
- 7.6.4. Market size and forecast, by FORM
- 7.6.5. Market size and forecast, by country
- 7.6.5.1. Gcc
- 7.6.5.1.1. Market size and forecast, by PRODUCT TYPE
- 7.6.5.1.2. Market size and forecast, by END USER
- 7.6.5.1.3. Market size and forecast, by FORM
- 7.6.5.2. South Africa
- 7.6.5.2.1. Market size and forecast, by PRODUCT TYPE
- 7.6.5.2.2. Market size and forecast, by END USER
- 7.6.5.2.3. Market size and forecast, by FORM
- 7.6.5.3. Rest of Middle East And Africa
- 7.6.5.3.1. Market size and forecast, by PRODUCT TYPE
- 7.6.5.3.2. Market size and forecast, by END USER
- 7.6.5.3.3. Market size and forecast, by FORM
- CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product mapping of top 10 player
- 8.4. Competitive dashboard
- 8.5. Competitive heatmap
- 8.6. Top player positioning, 2023
- CHAPTER 9: COMPANY PROFILES
- 9.1. Archer Daniels Midland Company
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.1.7. Key strategic moves and developments
- 9.2. Cargill Incorporated Inc.
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.2.7. Key strategic moves and developments
- 9.3. Du Pont de Nemours and Company
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
- 9.3.7. Key strategic moves and developments
- 9.4. Foodchem International Corporation
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
- 9.4.7. Key strategic moves and developments
- 9.5. Hung Yang Foods Co., Ltd
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
- 9.5.7. Key strategic moves and developments
- 9.6. Sonic Biochem Extraction Pvt Ltd
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.6.7. Key strategic moves and developments
- 9.7. Südzucker Group(Beneo)
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Business performance
- 9.7.7. Key strategic moves and developments
- 9.8. Victoria Group A.D.
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
- 9.8.7. Key strategic moves and developments
- 9.9. Wilmar International Limited
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.9.7. Key strategic moves and developments
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