Textured Vegetable Protein Market

Market Leaders - Textured Vegetable Protein Market

The global textured vegetable protein market size is estimated to be valued at USD 1.1 billion in 2020 and is projected to reach USD 1.5 billion by 2025, recording a CAGR of 6.2% during the forecast period. The demand for textured vegetable protein has been increasing significantly, as they are used across various food and beverage applications such as meat alternatives and have been high in demand among the vegan and vegetarian consumers.

Key players in this market include ADM (US), Cargill (US), CHS (US), Roquette Freres (France), DuPont (US), Wilmar International (Singapore), The Scoular Company (US), Puris Foods (US), VestKorn (Norway), MGP Ingredients (US), Beneo GmbH (Germany), Shandong Yuxin Bio-Tech (China), FoodChem International (China), Shandong Wonderful Industrial Group (China), Axiom Foods (US), AGT Food & Ingredients (Canada), Sun NutraFoods (India), Crown Soya Protein Group (China), La Troja (Spain), and Hung Yang Foods (Taiwan).

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Archer Daniels Midland Company (ADM) is a global food & beverage ingredient manufacturing company. It specializes in catering to major segments, such as agriculture services and oilseeds, carbohydrate solutions, nutrition, and others. The company serves the food & beverages demand through its nutrition segment, offering plant-based proteins, natural flavor ingredients, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, natural health & nutrition ingredients (such as probiotics, prebiotics, enzymes, and botanical extracts), and other specialty food and feed ingredients. ADM is among the key innovators in the texturized vegetable protein market, being the pioneer in developing textured soy protein using defatted soy flour. The company has been highly oriented toward new product launch to cater the rising demand for textured vegetable protein. For instance, in April 2019, the company expanded its product portfolio by launching Textura. The company developed vegan alternatives based on the unique Textura fibrous soya, in combination with the Arcon T textured soya offering solutions to improve the food product’s texture and taste.

Roquette Freres (france) is into the business of offering plant-based ingredients and plant-based protein. It operates through seven major segments, namely biopharma, pharma & nutraceuticals, cosmetics, food & nutrition, animal nutrition, industrial markets, and nutralys plant protein. Through its nutralys plant protein segment, it caters to the rising demand for textured vegetable protein and other plant-based proteins, emphasizing on non-GMO, gluten-free, clean-labeled ingredients obtained from reliable sources that are organic-compatible. The company emphasized on expanding its business opeartions to cater the demand for textured vegetable protein. For instance, in May 2019, Roquette expanded its presence in Lithuania by establishing a new R&D division. This strategy would bolster the regional experts and cater to the needs of regional customers as well as Northern Europe.

Related Reports:

Textured Vegetable Protein Market by Application (Meat alternatives, Cereals & snacks, Others), Form, Source (Soy, Wheat, and Peas), Type (Slices, Flakes, Chunks, and Granules), and Region - Global Forecast to 2025

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Report Code
FB 7725
RI Published ON
8/21/2020
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