Vegetable proteins, or veggie proteins, are protein products that are extracted from plant sources. These sources can include soya, peas, and lentils, among others. Soya is the most common source of vegetable proteins. It has been used as the main source of vegetable protein since long, and is available in the powdered, granulated, and textured forms for various applications and end-use segments.
Vegetable proteins have been utilized by multiple industries for their nutritional benefits and textural properties. Since vegetable proteins provide all the nutrition profile of a complete protein-rich diet without the downside of the animal cruelty aspect that comes into play in normal animal-derived proteins, vegetable proteins are being preferred over animal-sourced proteins by the modern consumer.
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The rise of the vegan culture and flexitarianism is a key factor for the increased vegetable protein demand in the market.
Vegetable protein plays an important role in vegan/ vegetarian diets. To obtain a proper nutrition profile that might result from a strict vegan diet, individuals often turn to vegetable protein supplements to acquire those. With the increase in the vegan population, more and more companies are trying to accommodate to the changing food culture, and are pushing forward more vegetable protein products in the market. One more segment of a vegetable protein that has seen a surge in demand is that of texturized vegetable proteins. More of the non-vegetarian population is shifting to vegetarianism. This is accompanied by the need for food products that mimic animal-derived products. This is where texturized vegetable proteins are playing an important part.
Texturized vegetable proteins are an integral part of meat analogs and meat substitutes, which have found a strong base in the food and beverage industry over the last few years. As more companies, globally, are trying to adapt to the newfound love of people for meat substitutes, the demand for vegetable proteins has only witnessed an upward trend of growth. The vegetarian trend has also affected the Horeca and processed foods sector. Hydrolyzed vegetable proteins are now being used instead of animal proteins or yeast proteins as flavor enhancers in multiple vegetarian food products.
Vegetable proteins have found their way into health supplements.
For decades, health supplements, especially protein supplements, have been derived from animal milk or eggs, and so on. The preference for vegetable proteins has seen multiple companies coming out with vegetable protein-based health supplements that now appeal to a wider consumer base. Marketing efforts for vegetable protein-based supplements has been focused on the benefits of a purer form of proteins and cruelty-free nature, while delivering the same or better results than that of the whey protein counterparts.
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Global Vegetable Protein Market: Key Players
Some of the key market players in the global vegetable proteins market are ADM Specialty Ingredients (Europe) B.V, Cargill, Incorporated, E.I. du Pont de Nemours & Co, Roquette S.A., BENEO GmbH, OPTIMUM NUTRITION, Cosucra Groupe Warcoing SA, Coperion GmbH, House Foods America Corporation, SunOpta, Puris, etc.
Opportunities for Market Participants in the Vegetable Proteins Market
Opportunities for market participants in the vegetable proteins market are plenty, owing to the rise of vegetarianism, worldwide. Modern consumers are more aware than ever of the negative impact a non-vegetarian diet leaves on the planet, and moving towards more sustainable vegetarian/ vegan diets. This growth is further fueled by the marketing efforts taken by the manufacturers of vegetable proteins and an increased social media influence upon consumers.
Region-wise, developed regions are of more interest for the short term, owing to high consumer awareness and spending capacity. However, as evident from the past, developing regions soon tend to adapt to food cultures from developed regions, and this is soon anticipated to catch up as well and fuel the growth of the vegetable proteins market during the forecast period.
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Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report
