Market Size of europe textured vegetable protein Industry
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 1.82 Billion |
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Market Size (2029) | USD 2.97 Billion |
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Largest Share by Distribution Channel | On-Trade |
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CAGR (2024 - 2029) | 10.27 % |
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Largest Share by Country | United Kingdom |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Europe Textured Vegetable Protein Market Analysis
The Europe Textured Vegetable Protein Market size is estimated at 1.82 billion USD in 2024, and is expected to reach 2.97 billion USD by 2029, growing at a CAGR of 10.27% during the forecast period (2024-2029).
1.82 Billion
Market Size in 2024 (USD)
2.97 Billion
Market Size in 2029 (USD)
6.34 %
CAGR (2017-2023)
10.27 %
CAGR (2024-2029)
Largest Segment by Country
19.69 %
value share, United Kingdom, 2023
Around 27-31% of people in the United Kingdom prioritized environmental factors since the pandemic, which led to a focus on the sustainability of meat substitute products.
Largest Segment by Distribution Channel
65.95 %
value share, On-Trade, 2023
There are a growing number of meat substitute-themed restaurants in the region that offer specialized menu items, which opens up new opportunities in the TVP market.
Fastest-growing Segment by Country
10.74 %
Projected CAGR, United Kingdom, 2024-2029
The growing popularity of veganism has led to a large number of vegan and vegetarian restaurants sprouting across the country to cater to new consumer preferences.
Fastest-growing Segment by Distribution Channel
10.73 %
Projected CAGR, On-Trade, 2024-2029
On-trade distribution channel sales of TVP are associated with the region's growing foodservice sector, including vegan restaurants, impacting its bulk purchases.
Leading Market Player
2.61 %
market share, Roquette Freres, 2022
The company offers TVP in the form of flours, crumbles, crisps, and strips, which are available in different sizes and protein levels, and have a shelf life of over 18 months.
Innovation in TVP products is driving sales
- TVP sales observed the highest Y-o-Y growth rate of 11.32% in 2020 due to an increase in the number of vegans, which doubled from 1.3 million in 2016 to around 2.6 million in 2022. The market observed a high adoption rate for TVP products as they reproduce the texture and flavor of meat products. Companies are innovating products to further expand in the market. The flexitarian population heavily impacts the TVP market as it is the largest dietary group after non-vegetarians.
- Supermarkets/hypermarkets accounted for 65.9% of the sales through the off-trade channel in 2022. Supermarkets offer a variety of products at discounted prices and wholesale, which is convenient for consumers with busy lifestyles. In Europe, plant-based food retail sales have surged in recent years due to the introduction of new products and innovations in the market, enabling more consumers to purchase next-generation plant-based meat and dairy products that are comparable to animal products in terms of taste, price, and convenience. In the region, the retail sector saw a growth of 21% in sales from 2020 to 2022.
- Around 2.44 million people were vegans in 2022, accounting for 6.4% of the total population. The development of e-commerce is being driven by the center-south region of Italy, which is growing six times faster than northern Italy. Major online retailers, including Amazon Fresh and Coop, started selling plant-based tofu burgers made by Beyond Meat and Impossible Foods. In 2022, in Italy, nearly 28% of consumers bought food or groceries online. Thus, in the region, the online channel is expected to be the fastest-growing segment for the sales of TVP products in Italy, registering a CAGR value of 15.61% during the forecast period.
The United Kingdom is dominating the market with an increasing young population that follows flexitarian diets
- In Europe, the consumption of textured vegetable protein was static during the historical period. However, it is expected to increase rapidly during the forecast period. As of 2021, around 22% of Europe's total population was flexitarian, meaning they consumed meat and fish less frequently than non-vegetarians. Non-vegetarians are slowly shifting toward meat substitutes to fulfill their protein requirements. The vegan population is expected to grow by 29-33% due to the need for sustainable diets and the concerns about climate change over 2023-25. The flexitarian population heavily impacts the TVP market as it is the largest dietary group after non-vegetarians.
- The United Kingdom majorly consumes textured vegetable protein in Europe. There is an increasing availability of meat substitute products, including textured vegetable protein, in outlets ranging from supermarket shelves to country pubs, aiding the market's growth. The sales value of TVP is expected to expand, registering a CAGR of 7.31% by value over the forecast period. The growing Gen Z population, which accounted for around 14-16% of the total population in 2021, is eager to try new trends, such as plant-based foods and veganism. These factors are propelling the growth of the TVP market in the United Kingdom.
- Besides the UK, France is projected to be one of the fastest-growing markets for textured vegetable protein, with a projected CAGR of 10.23% over the forecast period, owing to the growing flexitarian and vegan populations in the country and the shift in consumer choices toward animal protein sources. The share of French people who follow a flexitarian (semi-vegetarian) diet reached almost 30% as of 2021, with nearly 11% of people between 18 and 21 years admitted to following a vegan diet.
Europe Textured Vegetable Protein Industry Segmentation
Off-Trade, On-Trade are covered as segments by Distribution Channel. France, Germany, Italy, Netherlands, Russia, Spain, United Kingdom are covered as segments by Country.
- TVP sales observed the highest Y-o-Y growth rate of 11.32% in 2020 due to an increase in the number of vegans, which doubled from 1.3 million in 2016 to around 2.6 million in 2022. The market observed a high adoption rate for TVP products as they reproduce the texture and flavor of meat products. Companies are innovating products to further expand in the market. The flexitarian population heavily impacts the TVP market as it is the largest dietary group after non-vegetarians.
- Supermarkets/hypermarkets accounted for 65.9% of the sales through the off-trade channel in 2022. Supermarkets offer a variety of products at discounted prices and wholesale, which is convenient for consumers with busy lifestyles. In Europe, plant-based food retail sales have surged in recent years due to the introduction of new products and innovations in the market, enabling more consumers to purchase next-generation plant-based meat and dairy products that are comparable to animal products in terms of taste, price, and convenience. In the region, the retail sector saw a growth of 21% in sales from 2020 to 2022.
- Around 2.44 million people were vegans in 2022, accounting for 6.4% of the total population. The development of e-commerce is being driven by the center-south region of Italy, which is growing six times faster than northern Italy. Major online retailers, including Amazon Fresh and Coop, started selling plant-based tofu burgers made by Beyond Meat and Impossible Foods. In 2022, in Italy, nearly 28% of consumers bought food or groceries online. Thus, in the region, the online channel is expected to be the fastest-growing segment for the sales of TVP products in Italy, registering a CAGR value of 15.61% during the forecast period.
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Europe Textured Vegetable Protein Market Size Summary
The Europe Textured Vegetable Protein (TVP) market is experiencing significant growth, driven by increasing consumer interest in plant-based diets and sustainable food options. The market is characterized by a rising number of vegans and a substantial flexitarian population, which is the largest dietary group after non-vegetarians. This shift in consumer preferences is supported by innovations in TVP products that mimic the texture and flavor of meat, making them appealing to a broader audience. The retail sector, particularly supermarkets and hypermarkets, plays a crucial role in this growth by offering a wide range of TVP products at competitive prices, catering to consumers with busy lifestyles. The development of e-commerce, especially in regions like Italy, is further propelling the market, with major online retailers expanding their offerings of plant-based products.
In terms of market dynamics, the UK and France are emerging as key markets for TVP in Europe, with growing consumer acceptance and availability of meat substitute products. The market is fragmented, with major players like Associated British Foods PLC, Do It Organic, Ingredion Inc., Roquette Freres, and Univar Solutions Inc. leading the charge. Despite challenges such as fluctuating raw material prices and the need for more manufacturing facilities, the market is poised for expansion. Innovations in product development, including improved taste and cost reductions, are expected to create new opportunities. The market's growth is also influenced by geopolitical factors affecting raw material prices, such as the ongoing conflict in Ukraine and export bans from countries like India.
Europe Textured Vegetable Protein Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
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1.1 Distribution Channel
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1.1.1 Off-Trade
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1.1.1.1 Convenience Stores
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1.1.1.2 Online Channel
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1.1.1.3 Supermarkets and Hypermarkets
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1.1.1.4 Others
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1.1.2 On-Trade
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1.2 Country
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1.2.1 France
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1.2.2 Germany
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1.2.3 Italy
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1.2.4 Netherlands
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1.2.5 Russia
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1.2.6 Spain
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1.2.7 United Kingdom
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1.2.8 Rest of Europe
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Europe Textured Vegetable Protein Market Size FAQs
How big is the Europe Textured Vegetable Protein Market?
The Europe Textured Vegetable Protein Market size is expected to reach USD 1.82 billion in 2024 and grow at a CAGR of 10.27% to reach USD 2.97 billion by 2029.
What is the current Europe Textured Vegetable Protein Market size?
In 2024, the Europe Textured Vegetable Protein Market size is expected to reach USD 1.82 billion.
