Textured Vegetable Protein Market

The textured vegetable protein market is estimated at USD 1.7 billion in 2024 and is projected to reach USD 2.3 billion by 2029, at a CAGR of 6.8% from 2024 to 2029.

The textured vegetable protein market is growing at a rapid rate, as more people are trending toward alternative proteins. Consumers are looking pair-wise for vegetable sources of protein; this demand is driven by nutritional benefits, an interest in clean eating, and health and environmental concerns. This helped to get demand up for plant-based meats and ingredients in general, textured vegetable proteins from soy, wheat, and peas included. Common forms of these proteins used in food applications include chunks, flakes, granules, and slices. They find applications in meat alternatives, cereals and snacks, and other uses like dairy alternatives, soups, stews, and ready meals. In general, the growing awareness of functional benefits from alternative means of meat normally increases the application rate of textured vegetable proteins across associated food applications.

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ADM (US)

ADM is a leader in the nutrition industry with its unparalleled expertise in textured vegetable protein that dates back more than 75 years. Being one of the largest soybean processors globally, ADM conducts its operation through four primary business segments: Ag Services and Oilseeds, Carbohydrate Solutions, Nutrition, and Other Business. In the Nutrition segment, ADM produces and sells textured vegetable protein for food applications in the form of alternative meat products, snacks, stews, and dairy alternatives. ADM is one of the key innovation centers for the textured vegetable protein market, as it was developed by the Company using defatted soy flour to create textured soy protein.

In March 2023, ADM invested approximately USD 300 million to significantly expand its Decatur, Illinois, alternative protein production as the company continues to add capacity to meet strong demand growth.

Cargill, Incorporated (US)

Cargill, Incorporated is an integrated global company offering a wide range of products and services for various industries. The business operations of the company are categorized into 75 business lines under four major segments: Agriculture, Food, Financial Services, and Industrial Products. Through its Food segment, the company manufactures and distributes plant protein products used in food ingredients to cater to growing demand. More attention is paid to markets such as global protein, specialty ingredients, and health and nutrition products. That is driven by rising consumer demand. Cargill strives to provide flavor and texture alternatives to conventional food products in the marketplace and innovate in textured vegetable protein. Furthermore, while operating in almost 70-plus countries, Cargill maintains its sales presence in nearly 125 countries across North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa.

In May 2023,  Cargill introduced TEX PW80 M, a plant protein blend of pea and wheat protein in Europe, designed to replicate the texture, juiciness, and bite of ground meat.

Roquette Frères (France)

Roquette Frères is amongst global leading players in plant-based ingredient and an important supplier of pharmaceuticals excipient. RFI, an international player with strong presence in over 100 countries with more than 30 manufacturing locations, is indeed a global company. The products represent a broad spectrum of use application: food, pharmaceuticals, paper and corrugated board, fermentation, chemistry, and various industrial uses.

The general manner of defining these offers of the human food and nutrition segment of Roquette is that they are starch-based, sugared dietary fibers, and polyols, fine chemistry products; also, the group offers proteins and their derivatives. Fibers, oils, and soluble products, cereal sugars, beta-cyclodextrins, and bioethanol are also offered. Textured vegetable proteins are offered under the name NUTRALYS in the human food and nutrition segment of the business. Developed from pea, wheat, and faba beans, NUTRALYS TEXTURED VEGETABLE has brought such sources into developing dairy and meat substitutes and performance nutrition products.

In February2024, company launched NUTRALYS T Pea 700M. This will help the company cater to the new trends in organic ingredients.

Related Reports:

Textured Vegetable Protein Market Report, by Type (Slices, Chunks, Flakes, and Granules), Application (Meat Alternatives, Cereals & Snacks), Nature (Organic and Conventional) and Region - Global Forecast to 2029

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