Key Players in the Textured Vegetable Protein Market Adopting New Strategies to Increase Their Market Presence

The Textured Vegetable Protein Market 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%, in terms of value. The changing consumer preference and interest in vegetable protein sources, due to its nutritional profile, inclination toward clean eating, rise in health concerns, and environmental concerns, as well as animal welfare, have resulted in the growth of the alternatives, such as plant-based meat, and ingredients such as textured vegetable protein.

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Key Market Players in this market are 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).

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.

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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.

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