Global Vegetable Protein Market To Be Driven By The Rise In Demand For Texturised Vegetable Proteins In The Forecast Period Of 2021-2026

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The key highlights of the report include:

Market Overview (2016-2026)

Historical Market Size (2020): USD 9.55 billion
Forecast CAGR (2021-2026): 7.3%
Forecast Market Size (2026): USD 13.58 billion

The demand for texturised vegetable proteins in the food and beverage sector has increased. As more and more people transition to vegetarianism, textured vegetable proteins are becoming an important part of meat analogues and meat substitutes. In the forecast period, this is projected to contribute significantly to the growth of the overall vegetable protein industry. Meanwhile, hydrolysed vegetable proteins over animal proteins or yeast proteins are now being used as flavour enhancers in different vegetarian/non-vegetarian food products, which is further catalysing the market growth.

Industry Definition and Major Segments

Proteins that are found in or isolated from vegetables or vegetable products used as food are referred to as vegetable proteins. In general, since they contain good quantities of fibre, plant-based proteins are considered to provide digestive balance. Plant-based proteins are much easier for the body to digest than animal products, and they are, thus, gaining heavy popularity through various forums.

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By sources, the market is divided into:

• Soy

• Hemp

• Rice

• Pea

• Potato

• Oat

• Chickpea

• Others

Based on type, the industry is segmented into:

• Concentrates

• Textured

• Isolates

On the basis of form, the market is bifurcated into:

By end use, the market is categorised into:

The regional markets for vegetable protein include:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Market Trends

The growth of the global vegetable protein market is being driven by the increasing acceptance of veganism and the increase in the flexitarian population. The market is further supported by the rising consumer understanding of health and a growing demand for meat alternatives. The growth of the industry is further driven by other factors, such as growing disposable incomes, increasing demand for protein-rich food products, and developments in the food processing sector. The growing preference for cruelty-free products and the demand for environmentally sustainable alternatives to animal-derived protein/food products are expected to further boost the growth of the industry over the forecast period. The introduction of new products and increased investments in R&D activities by manufacturers are expected to help the market.

Key Market Players

The major players in the market are Archer Daniels Midland Company, Dupont de Nemours Inc, Cargill Incorporated, Beneo Gmbh, Roquette Freres, Coopetatie Avebe U.A, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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The post Global Vegetable Protein Market To Be Driven By The Rise In Demand For Texturised Vegetable Proteins In The Forecast Period Of 2021-2026 appeared first on Super Market Research.

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