Global Vegetable Seed Protein Market Snapshot
The global vegetable seed protein market is estimated at USD 1,033.8 Million in 2022 and is forecast to surpass USD 1,808.1 Million by 2032, growing at a CAGR of 5.7% from 2022 to 2032.
| Report Attributes |
Details |
| Base Year Value (2021A) |
USD 982.7 Million |
| Estimated Year Value (2022E) |
USD 1,033.8 Million |
| Projected Year Value (2032F) |
USD 1,808.1 Million |
| Global Growth Rate (2022-2032) |
CAGR 5.7% |
| North America Market Share in 2021 |
~33% |
| North America Growth Rate (2022-2032) |
CAGR ~5.9% |
| Collective Value Share (US, China, India) 2022: Top 3 Countries |
~47% |
| Top 5 Companies Market Share in 2021 |
~24% |
| Key Companies Profiled |
- Archer Daniels Midland Company
- CHS Inc.
- Roquette Freres
- Beneo GmbH
- Danisco A/S
- Vestkron A/S
- Cargill Inc.
- Fuji Oil Co. Ltd.
- Puris Proteins, LLC
- Ingredion Inc.
- Other Market Players
|
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Factors Propelling Vegetable Seed Protein Market Growth
Multiple micro level trends like increasing adoption of vegan and keto diets, experimental snacking of consumers and clean label & nutrition among others have been affecting the market. This has led to increase in demand for multiple plant based proteins.
Vegetable seed protein is one of the ingredient that has seen significant growth during the recent years. The presence of peptides and their usage as natural preservatives has garnered significant demand from the bakery and confectionary industry. On the backdrop of these factors, the market is expected to show significant growth during the forecast.
The current high usage of plant-based protein is expected to be supplemental to the growth of the vegetable seed protein. High trend and innovative sources that are still under purview are expected to be highly beneficial to the growth of the market. Chickpeas, Quinoa and chia seeds are some of the innovative sources being tested and used in the plant-based protein market.
Aversion of Animal Based Proteins
While animal based proteins have been in high demand during recent years, increase in demand for plant-based proteins are expected to take the cake. As whey proteins constitute the highest share in the market, increasing awareness of lactose intolerance has been detrimental to the whey-based usage.
These consumers are expected to move towards plant-based proteins and have shown high preference for alternative sources of proteins. This is expected to be highly beneficial to the innovative new vegetable seed protein market.
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Key Players in Vegetable Seed Protein Market
The global vegetable seed protein market is in early stages of development with multiple domestic and small players in the market. Multiple international companies like The Procter & Gamble Company are poised to enter the market with multiple copyrights and patents in the field.
Multiple regional players entering the market is expected to occur in the vegetable seed protein market. Initially the market is expected to remain fragmented, but entrance of new international players is expected to consolidate the market position. Investments in getting organic label and certifications for vegetable seed protein is expected to present lucrative opportunities in the market.
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