Market Size of united states textured vegetable protein Industry
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 1.28 Billion |
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Market Size (2029) | USD 2.04 Billion |
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Largest Share by Distribution Channel | On-Trade |
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CAGR (2024 - 2029) | 9.71 % |
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Fastest Growing by Distribution Channel | On-Trade |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
United States Textured Vegetable Protein Market Analysis
The United States Textured Vegetable Protein Market size is estimated at 1.28 billion USD in 2024, and is expected to reach 2.04 billion USD by 2029, growing at a CAGR of 9.71% during the forecast period (2024-2029).
1.28 Billion
Market Size in 2024 (USD)
2.04 Billion
Market Size in 2029 (USD)
5.37 %
CAGR (2017-2023)
9.71 %
CAGR (2024-2029)
Largest Segment by Distribution Channel
63.69 %
value share, On-Trade, 2023
Rising inculcation of TVP products on restaurant menus and various innovations in dishes offered are promoting the market.
Fastest-growing Segment by Distribution Channel
10.19 %
Projected CAGR, On-Trade, 2024-2029
The region's growing vegan population has led numerous foodservice outlets to add TVP items to their menus. This also promoted the launch of vegan restaurants in the region.
Leading Market Player
3.74 %
market share, Univar Solutions Inc., 2022
The company is a pioneer in TVP, and it has multiple brand offerings of the product. It also offers the product in different pack sizes to cater to various customer demands.
Second Leading Market Player
2.88 %
market share, Ingredion Inc., 2022
The company offers textured vegetable protein, which is widely used in all meat types, such as beef, pork, and seafood. The company offers 70-80% protein content in its TVP.
Third Leading Market Player
1.22 %
market share, Roquette Freres, 2022
The company offers TVPs in a variety of shapes, sizes, flavors, and colors. They can be used as meat substitutes in poultry and seafood.
Rising health-conscious consumers across the country drive demand for TVP through various distribution channels
- In the United States, the sales value of textured vegetable protein increased at a growth rate of 14.90% from 2019 to 2022 through the off-trade distribution channel. As consumers search for meat alternatives, ready-to-eat TVP products have been in high demand. With the region's increasing student population hitting 17.9 million in 2022, supermarket sales rose as some stores also offered delivery options. The number of supermarkets is growing rapidly to meet the needs of consumers.
- The on-trade channel is projected to be the fastest-growing distribution channel, registering a CAGR of 9.86% during the forecast period, mainly due to the growing number of vegan restaurants in the country. It was also the major distribution channel in the base year, registering a value of 19.35% from 2019 to 2022. In order to cater to the ongoing demand, major companies such as Beyond Meat, Sysco Corporation, and Impossible Food are providing textured vegetable protein to restaurants and food service sectors in the United States.
- Online grocery customers in the United States have started preferring to click-and-collect over home delivery. In 2022, customers viewed around 4.4 times more products, including textured vegetable protein products, and spent six times more time on online sites. Thus, the online channel is becoming the fastest-growing channel, projected to register a CAGR value of 15.76% during the forecast period. However, the advanced technology at supermarkets, such as free checkout, auto-billing, and the availability of more authentic and clean-label alternative meat products, is increasing the overall demand for TVP through the off-trade channel.
United States Textured Vegetable Protein Industry Segmentation
Off-Trade, On-Trade are covered as segments by Distribution Channel.
- In the United States, the sales value of textured vegetable protein increased at a growth rate of 14.90% from 2019 to 2022 through the off-trade distribution channel. As consumers search for meat alternatives, ready-to-eat TVP products have been in high demand. With the region's increasing student population hitting 17.9 million in 2022, supermarket sales rose as some stores also offered delivery options. The number of supermarkets is growing rapidly to meet the needs of consumers.
- The on-trade channel is projected to be the fastest-growing distribution channel, registering a CAGR of 9.86% during the forecast period, mainly due to the growing number of vegan restaurants in the country. It was also the major distribution channel in the base year, registering a value of 19.35% from 2019 to 2022. In order to cater to the ongoing demand, major companies such as Beyond Meat, Sysco Corporation, and Impossible Food are providing textured vegetable protein to restaurants and food service sectors in the United States.
- Online grocery customers in the United States have started preferring to click-and-collect over home delivery. In 2022, customers viewed around 4.4 times more products, including textured vegetable protein products, and spent six times more time on online sites. Thus, the online channel is becoming the fastest-growing channel, projected to register a CAGR value of 15.76% during the forecast period. However, the advanced technology at supermarkets, such as free checkout, auto-billing, and the availability of more authentic and clean-label alternative meat products, is increasing the overall demand for TVP through the off-trade channel.
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United States Textured Vegetable Protein Market Size Summary
The United States Textured Vegetable Protein (TVP) market is experiencing significant growth, driven by increasing consumer demand for meat alternatives and plant-based diets. The market is characterized by a diverse range of distribution channels, with the on-trade and online channels projected to be the fastest-growing. The rise in vegan restaurants and the shift towards click-and-collect services for online grocery shopping are contributing to this expansion. Major companies like Beyond Meat, Sysco Corporation, and Impossible Foods are actively supplying TVP to restaurants and food service sectors, while supermarkets are enhancing their offerings with advanced technologies and clean-label products to meet consumer needs.
Despite the growth, the market faces challenges such as fluctuating prices of raw materials like soybean, wheat, corn, and peas, which impact TVP pricing. These fluctuations are influenced by factors such as weather conditions and global market dynamics, including the war in Ukraine and economic conditions in China. The market is fragmented, with a few key players holding a small share, and recent strategic alliances and partnerships aim to enhance sustainable production and expand product offerings. Innovations in plant-based ingredients, such as chickpea protein concentrate and minimally processed functional ingredients from yellow peas, are being developed to meet the growing demand for high-quality, plant-based protein products.
United States 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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United States Textured Vegetable Protein Market Size FAQs
How big is the United States Textured Vegetable Protein Market?
The United States Textured Vegetable Protein Market size is expected to reach USD 1.28 billion in 2024 and grow at a CAGR of 9.71% to reach USD 2.04 billion by 2029.
What is the current United States Textured Vegetable Protein Market size?
In 2024, the United States Textured Vegetable Protein Market size is expected to reach USD 1.28 billion.
