The new report by Expert Market Research titled, ‘Global Vegetable Protein Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global vegetable protein market, assessing the market based on its segments like types, sources, forms, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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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:
Dry
Liquid
By end use, the market is categorised into:
Food
Feed
The regional markets for vegetable protein include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Latest Global News on Vegetable Protein Market@ https://www.expertmarketresearch.com/pressrelease/global-vegetable-prote...
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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