Textured Vegetable Protein Market Size, Share, and Industry Analysis By Type (Slices, Flakes, Chunks, and Granules), By Application (Meat Alternatives, Cereals & Snacks, and Others), By Source (Soy, Pea, and Wheat), and Regional Forecast till 2032

The global textured vegetable protein (TVP) market has grown with the emerging trend of plant-based food products across the world. The rise in health consciousness, combined with an increase in the demand for vegetarian and vegan diets, has accelerated the growth of the texturized vegetable protein product demand. According to the Plant-based Foods Association, the retail sales of plant-based foods in 2022 reached nearly USD 8 billion, an increase of approximately 6.6% from the previous year. In recent years, the global shift toward environmental sustainability has further contributed to the texturized vegetable protein product demand.

Textured Vegetable Protein Market Drivers

Focusing on Base Expansion to Drive the Market Growth

Nowadays, consumers are inclined toward plant-based food products as vegan food products are associated with the betterment of health, wellness, and the environment. Processed food and packed food products manufacturing companies are adopting plant-based ingredients in their products to meet emerging market trends.

Therefore, leading texturized vegetable protein manufacturers such as Cargill Inc., General Mills and ADM are spending a sufficient amount on expanding their production capacity to meet future market demand for the product. For instance, in July 2024, General Mills Inc., an American company specializing in producing food products, completed a new production tower with a multi-million investment. The new “Tower III” is dedicated to producing texturized plant-based proteins.

Textured Vegetable Protein Market Restraints

Taste Difference and Allegiance Associated with Raw Materials to Hamper the Market Growth

Despite its rapid growth, the textured vegetable protein (TVP) industry confronts a number of challenges that could limit its progress. One major problem is gaining the impression and acceptability of TVP among traditional meat consumers, who may be hesitant to adopt plant-based alternatives due to flavor and texture concerns.

Furthermore, the reliance on soy as the principal raw material for TVP increases supply chain stability and potential allergy concerns, both of which might have an impact on market growth. In addition, regulatory barriers and high food safety regulations might impede market access and product development. Consumer uncertainty about TVP's nutritional quality and processing may limit its widespread acceptance, despite its benefits.

Textured Vegetable Protein Market Opportunities

Increasing New Product Launches to Drive the Market Growth in the Upcoming Years

The rising product demand is creating a white space for key industry players to expand their product range and business growth potential. Pivotal players such as Ingredion Inc, DSM, Roquette Freres, and Cargill Inc are expanding their product offerings to strengthen their market presence and stay ahead in the competitive landscape. Therefore, industry players’ focus on new product launches will drive the market over the upcoming years. For instance, in February 2024, Roquette Freres, a global food ingredients manufacturer, expanded its product offerings by launching four pea protein ingredients – NUTRALYS® Pea F853M (isolate), NUTRALYS® H85 (hydrolysate), NUTRALYS® T Pea 700FL (textured), and NUTRALYS® T Pea 700M (textured).

Key Insights

The report covers the following key insights:

• Overview of  Parent Market


• Supply Chain Analysis


• Regulatory Analysis


• Industry SWOT Analysis


• Key Industry Developments


• Qualitative Analysis related to COVID-19

Segmentation

Analysis by Source

Based on source, the market is divided into soy, pea, and wheat.

The soy segment holds the largest share of the global market. Abundant availability, easy accessibility, low price, and nutritional profile are primarily driving the soy based texturized vegetable protein demand. Soy textured vegetable protein is well-known for its high protein content and ability to accurately mimic the texture of meat, making it a popular ingredient in plant-based meat products such as burgers, sausages, and ground meat alternatives. Its extensive availability and cost-effectiveness have cemented its place as the preferred choice for both manufacturers and consumers.

The pea segment is one of the fastest-growing segments of the market. Pea protein is gaining popularity due to its allergen-free qualities, clean-label appeal, and sustainability. It is increasingly being employed in a range of plant-based meals, particularly in regions where customers are more aware of allergens and GMOs. Pea TVP also has a good amino acid profile and is considered a premium alternative to soy, making it appealing to health-conscious consumers and those with dietary restrictions. As the demand for diverse plant-based protein sources increases, the demand for pea-based textured vegetable protein is likely to surge.

Analysis by Application

Based on application, the market is fragmented into meat alternatives, cereals & snacks, and others.

The meat alternatives segment dominates the global market owing to expanding demand for plant-based meat alternatives products globally. The product can mimic the texture and flavor of meat precisely has made it a popular ingredient in plant-based burgers, sausages, and minced meat. The product plays a vital role in producing plant-based meat substitutes. As consumers become more conscious of the environmental and health benefits of reduced meat consumption, this segment is projected to continue its rapid expansion.

The cereals and snacks segment continues to grow rapidly in the global market. The addition of TVP to snack products such as protein bars, granola, and savory snacks is consistent with the trend of high-protein, on-the-go foods that appeal to busy, health-conscious customers. TVP's adaptability and nutritional profile make it an appealing choice for manufacturers seeking to improve the protein level and texture of cereals and snacks. As innovation in this area continues, it is expected to make a substantial contribution to the global market.

Analysis by Type

Based on type, the market is divided into slices, flakes, chunks, and granules.

The chunks segment holds the largest market share. Chunks offer greater texture and mouthfeel for plant-based meat products, so they are gaining more popularity in meat substitute products. Further, chunks are available in a lower price range due to less complexity in production.

The granules segment is one of the fastest-growing segments of the market. Granules are increasingly being used in processed foods, cereals, and snacks due to their variety and ease of preparation. They are particularly popular in goods that require a finer texture, such as ground meat alternatives or high-protein snack foods. The increased demand for high-protein, nutrient-dense foods among health-conscious consumers is driving the segment growth. As food manufacturers continue to innovate, the granules category is likely to gain traction, adding to the growth of the textured vegetable protein market.

Regional Analysis

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Based on region, the market has been studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

North America holds the dominating market share. The increasing vegan protein popularity, along with protein-rich plant-based ready-to-eat snacks product demand, is positively driving the market. Furthermore, leading companies such as Cargill Inc., General Mills, and ADM are actively involved in market-penetrating activities across the U.S. and Canada, which is further influencing the market growth.  

Asia Pacific is one of the fastest emerging markets for texturized vegetable protein products. Rising health consciousness, growing vegetarian populations, and government initiatives supporting plant-based diets are likely to propel the market growth in the region. The rising purchase power and urbanization in developing economies such as India and China are boosting the demand for convenient, protein-rich food options.

Key Players Covered

• ADM (Archer Daniels Midland Company) (U.S.)


• Cargill, Incorporated (U.S.)


• Kerry Group plc (Ireland)


• DuPont de Nemours, Inc. (U.S.)


• ConAgra Foods, Inc. (U.S.)


• Ingredion Incorporated (U.S.)


• FMC Corporation (U.S.)


• Meelunie B.V. (Netherlands)


• Sime Darby Plantation Berhad (Malaysia)


• The Greenleaf Foods SPC (Canada)


• Nisshin Oillio Group, Ltd. (Japan)

Key Industry Development

• In December 2022, Royal DSM, one of the leading food ingredients manufacturing company, launched Vertis™ Textured Pea Canola Protein. The newly launched product meets processed food industry players' requirements to develop oy-free, gluten-free, and dairy-free products.


• In July 2021, ADM (Archer Daniels Midland Company), a leading player in the TVP market, acquired Sojaprotein, a European provider of non-GMO soy ingredients. This acquisition strengthened ADM’s position in the plant-based protein market, expanding its product portfolio and enhancing its ability to meet the growing global demand for TVP.