The PRNewswire release projects the market will grow from $2.00 billion in 2026 at a 6.9% CAGR, with Asia Pacific posting the fastest regional growth and North America holding the largest share.
MarketsandMarkets said the textured vegetable protein market is projected to expand from USD 2.00 billion in 2026 to USD 2.79 billion by 2031, representing a compound annual growth rate (CAGR, annualized growth rate) of 6.9% over the period. The firm said demand is being supported by a broader shift toward plant-based diets, rising interest in sustainable and protein-rich ingredients, and wider use of meat alternatives, convenience foods, and high-protein formulations across retail and foodservice. The report said textured vegetable protein is gaining traction because it can mimic meat texture while offering high protein content, long shelf life, and formulation flexibility. It highlighted applications in plant-based meat products, ready meals, snacks, and processed foods, and said advances in extrusion and protein texturization technologies are improving texture, structure, hydration, cooking performance, and application range. By segment, the food application category is expected to remain the largest market, while granules held a 38.6% share by product form and are forecast to post the highest CAGR. By source, soy protein is projected to record a 7.4% CAGR. By processing method, extrusion is estimated to hold the largest market share in 2031. By nature, the organic segment is expected to grow the fastest at 7.3% from 2026 to 2031, and by protein content, the 50%–70% segment is expected to dominate. Regionally, Asia Pacific is expected to register the highest CAGR during the forecast period, while North America is projected to hold the largest share throughout it. MarketsandMarkets attributed North America's position to a mature plant-based food industry, established soy and pea protein supply chains, developed food processing and extrusion capabilities, and broad distribution across supermarkets, specialty stores, online platforms, and foodservice. The report profiles key players including ADM, Cargill, Incorporated, Roquette Frères, International Flavors & Fragrances Inc., Ingredion Incorporated, PURIS, BENEO GmbH, Axiom Foods, Inc., The Scoular Company, and Dacsa Group.