Global Vegetable Proteins Market - 2024-2031

Global Vegetable Proteins Market - 2024-2031

Global Vegetable Proteins Market reached US$ 11.2 billion in 2023 and is expected to reach US$ 23.1 billion by 2031, growing with a CAGR of 9.47% during the forecast period 2024-2031.

The global vegetable protein market is expanding rapidly, driven by increasing consumer demand for plant-based products across various sectors. Key sources of vegetable proteins include soy, pea, wheat, and potato, each offering unique nutritional benefits. These proteins are widely used in food and beverages, particularly in plant-based meat and dairy alternatives, as well as in protein supplements.

The market also sees strong growth in animal feed, where vegetable proteins provide sustainable and cost-effective alternatives to animal-based proteins. Additionally, they are used in pharmaceuticals, nutraceuticals, and cosmetics, owing to their health benefits and versatile applications. This surge in demand reflects the growing shift toward healthier, sustainable, and plant-based dietary and lifestyle choices.

According to data from the World Animal Foundation in 2023, there are over 15.5 million vegans in US, highlighting the growing demand for plant-based products. The increasing adoption of veganism, along with a broader shift toward plant-based diets among flexitarians and health-conscious consumers, has created a robust demand for vegetable protein products such as plant-based meats, dairy alternatives, and protein supplements.

Dynamics

Rising Vegan Population

As more people adopt plant-based diets for health, environmental, and ethical reasons, the demand for plant-based protein products, such as meat substitutes, dairy alternatives, and protein powders, has increased. According to the National Center for Biotechnology Information (NCBI), there are approximately 88 million vegans worldwide, a growing number that reflects a shift in consumer preferences toward plant-based options.

The rising vegan population directly fuels the demand for vegetable proteins, which are essential ingredients in creating meatless and dairy-free alternatives. The impact of this shift is evident in the market growth. In 2022, The Good Food Institute reported that global retail sales of plant-based meat products reached $6.1 billion, underscoring the significant economic value of plant-based proteins. As more consumers choose vegan and plant-based options, the vegetable protein market continues to expand.

Advancements in Protein Extraction Methods

Advancements in protein extraction methods are propelling the global vegetable proteins market by offering more sustainable, efficient, and eco-friendly alternatives to traditional techniques like alkaline, acid, or salt extraction. Novel methods such as ultrasound-assisted extraction, PEF, DES, enzyme-assisted extraction, and combined methods provide key benefits, including lower energy consumption, reduced toxic residue, and environmental friendliness.

The innovations enable the extraction of higher-quality proteins from plants while minimizing the need for harmful chemicals, aligning with the growing demand for cleaner, greener production processes. For instance, Devigere Biosolutions Pvt Ltd has developed a new protein extraction technology that eliminates the use of harmful chemicals, successfully producing high-quality protein comparable to egg whites from Indian pulses like black-eyed pea and mung beans.

Allergic Reactions to Vegetable Proteins

Despite their many health benefits, some of the vegetable protein sources such as soybeans, wheat and other plant-based proteins are recognized as allergenic foods, which restricts their widespread adoption among sensitive individuals. Soybean allergy, affecting an estimated 0.3% to 3% of the general population, can lead to severe reactions ranging from hives to life-threatening anaphylaxis. The risk is particularly prevalent among children (around 0.4%).

The increased caution and awareness regarding soy consumption, limiting its use in various food products. As a result, the market faces pressure to offer allergen-free alternatives, such as pea or rice protein, which can increase production costs and hinder growth. Additionally, the growing prevalence of celiac disease, which impacts around 0.4% to 0.8% of the global population, further complicates market expansion.

Segment Analysis

The global vegetable proteins market is segmented based on source, form, distribution channel, application and region.

Superior Functionality and Versatility of Isolates

The global vegetable proteins market is segmented based on form into isolates, concentrates, textured vegetable proteins, and hydrolysates. The protein isolate segment is rapidly dominating the global vegetable protein market due to its high protein content, superior functionality, versatility, and alignment with health-conscious consumer trends. Protein isolates, which typically contain 85-90% protein, offer significant advantages over other forms, which have lower protein concentrations.

The high protein content makes them ideal for health-conscious consumers, athletes, and those adopting plant-based diets. For instance, protein isolates derived from peas and rice are used extensively in protein bars, plant-based meats, and dairy substitutes. Their ability to enhance the texture and nutritional profile of these products further solidifies their market dominance.

Geographical Penetration

Production and Consumer Trends in North America

North America, particularly plays a dominant role in the global vegetable protein market, driven by both production and consumption factors. In the 2023/2024 production season, US is projected to contribute a significant 29% of the world’s soybean production, equating to approximately 113.34 million metric tons, as reported by the USDA. Soybeans are a primary source of vegetable protein, widely used in plant-based meat products, dairy alternatives, and protein supplements.

The substantial production capacity of various vegetable protein sources enables North America to meet the rising demand for plant-based proteins, reinforcing its leadership in the global market. Additionally, consumer trends in North America, particularly US, further support this dominance. A significant portion of the population is lactose intolerant, with approximately 15% of adult Caucasians and 85% of adult African Americans affected, according to the American College of Gastroenterology.

The animal-based protein allergies have driven the demand for plant-based dairy alternatives, such as soy, and almond, which rely on vegetable proteinsAs more consumers shift toward plant-based and lactose-free diets, the need for vegetable protein grows, allowing North American producers to dominate the market by both meeting local demand and expanding into international markets.

Competitive Landscape

The major global players in the market include Archer Daniels Midland Company, Cargill, Incorporated, Roquette Freres, Wilmar International Limited, Sonic Biochem Extractions Pvt. Ltd., Bunge Limited, FUJI OIL HOLDINGS INC., International Flavors & Fragrances Inc., Benson Hill, Inc., Shandong Saigao Group Corporation among others.

Sustainability Analysis

The global vegetable proteins market is witnessing significant growth due to increasing consumer demand for plant-based products and sustainable food sources. As concerns over environmental degradation, climate change, and animal welfare rise, plant-based proteins, such as soy, pea, rice, and hemp, are being recognized for their lower carbon footprint and resource-efficient production. Unlike animal-based proteins, vegetable proteins require less water, land, and energy, making them a more sustainable option.

The rise of vegan, vegetarian, and flexitarian diets further propels this shift toward plant-based protein sources, highlighting their potential to reduce global food security concerns while supporting environmental sustainability. However, challenges remain in scaling production to meet the growing demand for vegetable proteins, with issues like soil health, crop variability, and supply chain inefficiencies.

By Source
• Soy Protein
• Pea Protein
• Wheat Protein
• Potato Protein
• Other Sources

By Form
• Isolates
• Concentrates
• Textured Vegetable Proteins
• Hydrolysates

By Distribution Channel
• Supermarkets/Hypermarkets
• Specialty Stores
• Online Retail
• Other

By Application
• Food and Beverages
• Animal Feed
• Pharmaceuticals and Nutraceuticals
• Cosmetics and Personal Care

By Region
• North America
US
Canada
Mexico
• Europe
Germany
UK
France
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In February 2024, Roquette launched four new pea proteins NUTRALYS Pea F853M, NUTRALYS H85, NUTRALYS T Pea 700FL, and NUTRALYS T Pea 700M expanding its NUTRALYS portfolio. These innovations enhance taste, texture, and protein content in plant-based foods, offering solutions for products like nutritional bars, protein drinks, and meat and dairy alternatives.
• In November 2023, Avebe launched PerfectaSOL, a versatile potato protein texturizer for plant-based dairy alternatives. PerfectaSOL is also ideal for plant-based baked goods and can replace gelatin in candies and marshmallows.
• In December 2022, Royal DSM launched Vertis Textured Pea Canola Protein, a soy-free, gluten-free, and dairy-free complete protein with all nine essential amino acids. It offers a firm, springy texture ideal for realistic meat alternatives, with quick hydration, great processing capabilities, and support for low-fat and low-salt formulations.

Why Purchase the Report?
• To visualize the global vegetable proteins market segmentation based on source, form, distribution channel, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous vegetable proteins market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global vegetable proteins market report would provide approximately 70 tables, 67 figures and 231 pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies