Market Leaders : Cargill Incorporated and ADM are Focusing on Partnerships, Acquisitions, and Investment Strategies to Strengthen Their Market Position in Textured Vegetable Protein Market
The global textured vegetable protein market is estimated to be valued at USD 1.4 billion in 2022. It is projected to reach USD 1.9 billion by 2027, recording a CAGR of 6.9% during the forecast period. The textured vegetable protein market is witnessing significant growth in the current market scenario for alternative proteins. The changing consumer preference and interest in vegetable protein sources due to its nutritional profile, inclination toward clean eating, rise in health and environmental concerns, and animal welfare have led to the growth of plant-based meat and ingredients, which include textured vegetable proteins obtained from soy, wheat, and pea.
The key players in this market include ADM (US), Roquette Frères (France), Ingredion (US), DuPont (US), The Scoular Company (US), Beneo (Germany), Cargill, Incorporated (US), MGP (US), Shandong Yuxin Biotechnology Co. Ltd. (China), Axiom Foods, Inc., (US), Foodchem International Corporation (China), PURIS (US), Kansas Protein Foods (US), and DSM (Netherlands).
ADM is one of the global leaders in the nutrition segment. The company has pioneered textured vegetable protein innovation for over 75 years and accounts for one of the largest soybean processors in the world. The company operates through four major business segments: Ag service and oil seeds, carbohydrate solutions, nutrition, and other business. It offers textured vegetable protein under the nutrition segment, mainly used in food applications, such as alternate meat products, snacks, stew, and dairy alternatives. ADM is among the key innovators in the texturized vegetable protein market, pioneering in developing textured soy protein using defatted soy flour.
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ADM operates through processing and manufacturing facilities across the US and worldwide. It competes with the world’s leading textured vegetable protein manufacturers, such as Ingredion (US) and Cargill, Incorporated (US). ADM operates through processing and manufacturing facilities across the US and worldwide. Its network spans more than 200 countries. In September 2020 ADM launched Arcon T textured pea proteins, Prolite MeatTEX textured wheat protein. These highly functional protein solutions improve the texture and density of meat alternatives. Hence, by expanding its product portfolio company can cater demand of meat-like texture protein.
Cargill, Incorporated is a global conglomerate catering to the demand in various industries. The company comprises 75 businesses classified into four key segments: agriculture, food, financial services, and industrial products. It offers its plant protein products under its food segment to meet the demand for food ingredients. The company has been primarily focusing on accelerating growth in markets, such as global protein, specialty ingredients, and health & nutrition products, due to the rising demand among consumers. It has been focusing on providing similar flavor and textured substitutes for conventional food products and innovations in textured vegetable protein.
The company operates in around 70 countries. It has an additional sales presence in nearly 125 countries across North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. In May 2022 Cargill constructed a new soybean processing plant in Southeast Missouri. This development will help the company meet the expanding domestic and global demand for oilseeds, which is being driven by the food, feed, and fuel markets.
Roquette Frères is a privately held company that produces and markets food ingredients. It processes raw materials, such as corn, wheat, potatoes, and peas, into various ingredients for different food and non-food applications. Roquette Frères’ products find applications as ingredients in the food, pharmaceutical, paper, corrugated board, fermentation, chemistry, and industrial applications. The products offered by the company can be broadly divided into starch-based products, sugars & dietary fibers, polyols & fine chemistry products, proteins & their derivatives, fibers, oils & soluble products, cereal sugars, beta cyclodextrins, and bioethanol. The company provides textured vegetable proteins under its human food & nutrition segment. NUTRALYS textured vegetable protein, which is derived from various sources, such as pea, wheat, finds applications in dairy and meat alternatives and performance nutrition.
In June 2022, Roquette launched its new NUTRALYS range of organic textured proteins from pea and fava for European markets. This will help the company cater to the new trends in organic ingredients.
Related Reports:
Textured Vegetable Protein Market by Type (Slices, Chunks, Flakes, and Granules), Source (Soy, Wheat, and Pea), Application (Meat Alternatives, Cereals & Snacks), Form (Dry and Wet), Nature and Region - Global Forecast to 2027
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