Vegetable Protein Market Size Valued at US$ 11.2 Billion in 2023, Projected to Reach US$ 23.1 Billion by 2031 at a CAGR of 9.47%, Led by North America with Key Players Including ADM, Cargill, Roquette, Wilmar, and Bunge

Leander, Texas and Tokyo, Japan - Feb.5.2026
As per DataM Intelligence research report "Vegetable Protein Market reached US$11.2 billion in 2023 and is expected to reach US$23.1 billion by 2031, growing with a CAGR of 9.47% from 2024 to 2031"

The market is driven by rising vegan and vegetarian populations (approximately 88 million vegans worldwide), increasing health consciousness, lactose intolerance, allergies to dairy, and demand for sustainable, low-carbon footprint protein sources. Advancements in extraction technologies (e.g., ultrasound-assisted, enzyme-assisted) improve quality and reduce residues, supporting applications in plant-based meat, dairy alternatives, supplements, and animal feed. Environmental benefits over animal proteins (lower water, land, energy use) and government sustainability initiatives fuel adoption. Despite challenges like allergenicity (soy, wheat), sensory issues, and higher costs for alternatives, demand remains strong in food & beverages and nutraceuticals amid flexitarian trends.

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Vegetable Protein Market: Competitive Intelligence
Archer Daniels Midland Company, Cargill, Incorporated, Roquette Freres, Wilmar International Limited, Sonic Biochem Extractions Pvt. Ltd., Bunge Limited, FUJI OIL HOLDINGS INC., International Flavors & Fragrances Inc., Benson Hill, Inc., Shandong Saigao Group Corporation

The Vegetable Protein Market continues to gain structural strength through the combined influence of Archer Daniels Midland Company, Cargill, Incorporated, Roquette Freres, Wilmar International Limited, Sonic Biochem Extractions Pvt. Ltd., Bunge Limited, FUJI OIL HOLDINGS INC., International Flavors & Fragrances Inc., Benson Hill, Inc., and Shandong Saigao Group Corporation. Together, these companies support critical end-use sectors such as food and beverages, animal feed, pharmaceuticals/nutraceuticals, and cosmetics, where high protein content, functionality (emulsification, texture), sustainability, and allergen considerations remain essential. Their portfolios address demanding requirements including isolates for high-protein applications, textured proteins for meat analogs, and concentrates for cost-effective formulations across plant-based meat, dairy substitutes, and supplements. As a result, the Vegetable Protein Market benefits from steady demand, innovation in extraction and processing, and broad relevance despite allergen and sensory challenges.

The collective momentum created by these companies enhances the competitive depth of the Vegetable Protein Market by combining global scale with specialized R&D in plant-based ingredients. Archer Daniels Midland Company, Cargill, Incorporated, and Roquette Freres bring extensive supply chains, large-scale production, and focus on soy/pea innovations that reinforce market leadership. At the same time, Wilmar International Limited, Bunge Limited, and International Flavors & Fragrances Inc. contribute application-specific advancements, particularly in textured and functional proteins for food and beverages. This balance of scale, technology, and geographic reach supports consistent product availability and adaptation to evolving consumer preferences for clean-label, sustainable proteins.

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Product Launches & Partnerships
✅ February 2024 - Roquette Freres (France)
Roquette launched four new pea proteins (NUTRALYS Pea F853M, NUTRALYS H85, NUTRALYS T Pea 700FL, NUTRALYS T Pea 700M) to improve taste, texture, and protein delivery in nutritional bars, drinks, and meat/dairy alternatives.
✅ November 2023 - Avebe (Netherlands)
Avebe introduced PerfectaSOL, a potato protein texturizer for plant-based dairy alternatives, baked goods, and gelatin replacements in candies and marshmallows.
✅ December 2022 - Royal DSM (Netherlands)
Royal DSM launched Vertis Textured Pea Canola Protein (soy-free, gluten-free, dairy-free, complete amino acid profile) for meat alternatives with firm texture and quick hydration.

Segment Covered in the Vegetable Protein Market:
By Source
The market is segmented into Soy Protein (dominant ~40% due to high nutritional value and availability), Pea Protein (fast-growing), Wheat Protein, Potato Protein, Other Sources (rice, hemp, etc.), with soy leading but pea gaining from hypoallergenic appeal.
By Form
Forms include Isolates (dominant ~35% with 85-90% protein content and versatility in bars, meats, dairy substitutes), Concentrates, Textured Vegetable Proteins, Hydrolysates.
By Application
Applications include Food and Beverages (leading with plant-based meat/dairy, supplements), Animal Feed, Pharmaceuticals and Nutraceuticals, Cosmetics and Personal Care.
By Distribution Channel
Distribution channels include Supermarkets/Hypermarkets, Specialty Stores, Online Retail, Others.
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Regional Analysis
North America - Largest Share
North America holds the largest share due to high soybean production (29% global, ~113 million metric tons in 2023/2024), rising veganism (15.5 million in US), lactose intolerance (up to 85% in some groups), and strong demand for plant-based alternatives.
Asia Pacific - Fastest-Growing
Asia Pacific is the fastest-growing region driven by population growth, urbanization, increasing health awareness, and expanding food processing in China, India, and other countries.
Europe
Europe supports growth through sustainability focus, regulatory support for plant-based diets, and innovations in pea/potato proteins.
South America
South America shows emerging growth with soy production and rising adoption.
Middle East & Africa
Middle East & Africa expands gradually with dietary shifts and nutritional needs.

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✅ Competitive Landscape
✅ Technology Roadmap Analysis
✅ Sustainability Impact Analysis
✅ KOL / Stakeholder Insights
✅ Consumer Behavior & Demand Analysis
✅ Import-Export Data Monitoring
✅ Live Market & Pricing Trends

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