Global Vegetable Protein Market By Type, By Application ( For Food & Beverage, For Feed) By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2033

In the 2023-2033 forecast period, the vegetable protein market will grow at 10.2%. A chain of polymers made up of amino acid chains connected with peptide bond proteins is called a protein. Proteins are broken down in the stomach during digestion to form smaller polypeptide chains and more hydrochloric acid actions.

This is essential for the intake of vital amino acids, which can’t be biosynthesized in the human body. While a lot of plant foods are lacking in some important amino acids (soy, spinach, and quinoa excluded), there are still many whole vegetables that can be included in the diet.

Growing Demand:

According to estimates, the demand for vegetable-based protein will grow rapidly due to increased demand for food and beverages such as bakery products, meat substitutes, cereals, and snacks. This is made possible by increased marketing efforts by plant protein producers and the impact of social media on customers. The market for vegetable protein is also being affected by allergies to textured vegetable protein sources like soy and wheat.

Further, the market for vegetable-based proteins has been severely affected by the COVID-19 pandemic. Customers have started to use vegetable-based substitutes as a result of increasing awareness about the impact of the pandemic on meat production. Customers are now adopting healthier lifestyles which has affected the sales of plant-based snacks as well as dairy substitutes and additives.

Vegetable Protein Market Scope:

By type, the market is segmented into >80% and <80%. By Application, the market is divided into For Food & Beverage. and For Feed. Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, Latin America and the Middle East, and Africa. Major players profiled in the report include Danisco (Du Pont), ADM, CHS, Manildra Group, Roquette, Midwest Grain, CropEnergies, Tereos Syral, Showa Sangyo, Fuji Oil, Cargill, Cosucra, Nisshin Oillio, Tate & Lyle, World Food Processing, Topagri, Gushen Biological, Shansong Biological, Tianguan, and Yuwang Group.

Key Market Segments

Type

>80%
<80%

Application

For Food & Beverage
For Feed

Key Market Players included in the report:

Danisco (Du Pont)
ADM
CHS
Manildra Group
Roquette
Midwest Grain
CropEnergies
Tereos Syral
Showa Sangyo
Fuji Oil
Cargill
Cosucra
Nisshin Oillio
Tate & Lyle
World Food Processing
Topagri
Gushen Biological
Shansong Biological
Tianguan
Yuwang Group

Drivers: Innovation and developments in plant-based protein to supplement the vegan trend

A study by the European Vegetarian Union published in 2019 shows that the European vegan population contributes more than 6% to the European population. According to The Vegan Society, there was a 300% increase in vegans in the UK in 2019 compared to 2014. This was one of the main factors that drove food and beverage companies to develop meat alternatives, dairy alternatives, and protein nutritional drinks, as well as a boost in plant-based food and beverages. Companies such as Archer Daniels Midland Company, DuPont (US), Roquette Freres(France), Kerry Group, and Tyson Foods (US), have been focusing on the development of plant-based protein food & beverages.

Restraints: Allergies to plant-based proteins sources like soy and wheat

The functional health benefits of plant-based foods & beverages are numerous, and they contain essential minerals. However, many people have experienced allergic reactions to them, which has slowed market growth. Soybeans are high in nutrients, including vitamins, minerals, and proteins, but there could be anti-nutritional elements in soy that can cause allergies.

According to the Cleveland, Clinic soy is one of the “Big Eight” allergens that are responsible for 90% of all food allergy cases. Soy allergies occur when the immune system mistakenly considers harmless proteins in soy as potentially harmful and makes antibodies to fight them. Soy protein contains a lot of phytic acids, which can block the absorption of important minerals like calcium, magnesium, and copper. Itching and hives could also be caused by soy allergy. Other symptoms include nausea, bloating, and abdominal pain.

In 2019, the National Institute of Health published a study that recognized wheat as a staple food and an important source of nutrition for millions of people. In recent years, there have been increasing concerns about the negative effects of wheat on human health, especially in Europe and North America. There are many adverse reactions to wheat gluten proteins, including coeliac disease and allergies. Celiac disease can be a genetically predisposed condition that affects people of all ages. However, it usually begins in middle childhood. Gluten allergies can cause inflammation and damage to the small intestines. The global market will be affected by allergies to only a few plant-based ingredients during the forecast period.

Market Trends:

Aquatic plants are a new and emerging source of protein.

The shift to personalized nutrition is a result of consumers’ increasing awareness about their health. Consumers have become more conscious about what they eat and how it affects their bodies in recent years. Aquatic plants, in addition to soy, wheat, and pea, are the main sources of plant-based proteins. They offer a huge opportunity for consumers to get ingredients and proteins that meet their unique metabolic and physiological needs.

The natural synthesis of plant-based proteins is a complex process that involves a number of chemical elements being combined in a particular form. The sun provides the energy necessary for this process. This unique process is made possible by the presence of chlorophyll in plants. More than 70% of solar energy is directed toward the oceans and freshwater bodies like rivers, lakes, and swamps. Water bodies around the world contain a vast amount of suitable aquatic proteins that can be used for human consumption. This resource is easily increased using advanced aquaculture techniques.

Recent Developments:

Cargill (USA) announced in April 2022 that Radipure pea protein products would be expanded to India, Turkey, Africa, and Africa to meet the growing demand from these markets for pea protein.

ADM (US), which acquired Sojaprotein, Serbia (the largest producer of plant-based protein) in July 2021, was able to increase its production capabilities and meet the growing global demand.

ADM (USA) introduced Prolite MeatTEX, and Prolite MeatXT in September 2020. These products are made from textured and untextured wheat proteins that improve texture and density. ADM (US) launched Prolite MeatTEX and Prolite MeatXT, completing their product portfolio in textured soy, wheat, or pea proteins.

ADM (USA) launched ArconT, a range of textured pea protein products, in September 2020 to expand its product line and meet rising demand. This will increase the company’s business opportunities.