An insightful analytical report reveals that the texturized vegetable protein (TVP) market in Western Europe is on a trajectory of substantial growth, projected to reach an impressive US$ 893 million by 2033, up from US$ 585 million in 2023. This growth translates to a compound annual growth rate (CAGR) of 4.3% through the next decade.
The demand for textured vegetable protein is driven by a dynamic food industry that is increasingly focusing on plant-based products to enhance visual appeal and versatility. Manufacturers attribute the rising demand for TVP to advancements in product development, particularly the creation of offerings with improved taste and texture that appeal to both plant-based and traditional diets.
Government policies and marketing campaigns advocating for plant-based diets are expected to further amplify consumer interest in TVP across the region. As health consciousness rises among consumers, concerns about allergens and genetically modified organisms (GMOs) are becoming paramount. The growing preference for clean-label products underscores the importance of transparent sourcing and manufacturing processes in the TVP sector.
The collaboration between TVP producers and food manufacturers is essential for meeting the evolving demands of the market. These partnerships enable the development of customized solutions tailored to specific product requirements, ensuring a steady supply of innovative plant-based offerings.
Key insights from the report include:
- Market Growth: The TVP market in Western Europe is set for significant growth, with an expected valuation of US$ 893 million by 2033.
- Consumer Trends: A shift towards plant-based diets, coupled with heightened awareness of allergens and GMOs, is driving demand for TVP products.
- Industry Collaboration: Long-term partnerships between TVP producers and food manufacturers are fostering innovation and customization in product development.
- Government Support: Promotional efforts for plant-based diets by government bodies are expected to positively impact consumer demand for TVP.
Plant-based Diet Trend to Grow Demand for Texturized Vegetable Protein in the United Kingdom
A large percentage of textured vegetable protein consumed in Western Europe comes from the United Kingdom. The proliferation of outlets offering meat substitutes, including textured vegetable protein, has facilitated the industry’s expansion. This growth is further propelled by an escalating awareness of health-conscious dietary choices and the adoption of vegan lifestyles. These are contributing to a marked surge in demand for these products.
Plant-based foods and veganism have gained popularity with Gen Z, who are eager to try out new ways of living. Consequently, this has significantly bolstered the demand for texturized vegetable protein in the United Kingdom.
Growing Health-conscious Consumers and Healthy Eating to Increase Demand for Texturized Vegetable Protein in Germany
TVP is actively promoted as a nutritious food option. As individuals increasingly seek alternatives to conventional meat products in the country, considerations of health and sustainability are expected to be crucial in driving the demand for TVP. The innovative landscape of food products in Germany, coupled with a strong demand for delectable culinary experiences, is anticipated to result in a surge in sales.
TVP products are also likely to soon be more readily available in supermarkets and restaurants, potentially exerting a positive influence on product demand. It has become increasingly common for retailers and food service providers to offer plant-based options as part of their product offerings.
Incorporation of Plant-based Food for Animals to Drive Demand for Texturized Vegetable Protein in France
Competitive Landscape
In recent years, the plant-based protein industry has experienced rapid growth, leading to the emergence of numerous new companies. Many of these companies are now providing alternatives to traditional sources of protein, such as soy, milk, and meat, by leveraging pea, wheat, and other plant-based protein sources. The consumer bases of companies in these emerging industries are being expanded through partnerships and acquisitions.
There is a noticeable upward trend in the demand for organic products in the industry. Companies involved in the manufacturing of textured vegetable protein could face formidable challenges in innovation, rigorous research and development, and the enhancement of TVP quality. These challenges necessitate concerted efforts and strategic initiatives to stay competitive in this evolving industry.
Recent Developments Observed in Western Europe Texturized Vegetable Protein Industry:
- In May 2023, NEXTERA plant-based foods outperformed animal proteins in sensory panel tests, marking a significant milestone that is poised to propel the industry toward further growth. Individuals in Western Europe are now persuaded of the necessity for dietary changes that involve reducing meat consumption. This shift in perception accounts for the burgeoning popularity of plant-based meat alternatives.
- In September 2023, Omni, a vegan pet food business based in the United Kingdom, introduced its first product that looks and tastes like meat. Moreover, a senior company representative confirmed that the company intends to launch sales in Western Europe in the near future as part of its international expansion.
Some of the Important Players in Texturized Vegetable Protein Industry in Western Europe
- ADM (Archer Daniels Midland Company)
- Cargill
- DuPont
- Kerry Group
- Soyuzprodimport
- Roquette Freres
- Emsland Group
- Kerry Ingredients
- The Scoular Company
- Aviom Foods
Key Segments
By Product Type:
- Soy Protein
- Wheat Protein
- Pea Protein
- Rice Protein
By Nature:
- Organic
- Conventional
By Form:
- Chunks
- Slice
- Flakes
- Granules
By End Use:
- Household
- Commercial
- Industry
- Food Industry
- Bakery
- Snacks
- Ready Meals
- Sports Nutrition
- Clinical Nutrition
- Baby Food
- Meat Analogues
- Others
- Animal Feed
By Distribution Channel:
- Direct
- Indirect
- Store Based
- Hypermarket
- Convenience Store
- Traditional Store
- Online Retail
By Country:
- Germany
- Italy
- France
- United Kingdom
- Spain
- BENELUX
- Nordic
- Rest of Western Europe
Browse full Report: https://www.futuremarketinsights.com/reports/demand-and-trend-analysis-of-texturized-vegetable-protein-in-western-europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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