The global vegan protein market is experiencing robust growth, driven by the increasing shift toward plant-based diets, as more consumers prioritize health, sustainability, and animal welfare. The rising awareness of the environmental impact of animal-based protein sources, combined with growing concerns over health conditions such as heart disease and obesity, is fueling demand for vegan alternatives. Key vegan protein sources, such as pea, rice, hemp, and soy, have gained popularity due to their high nutritional content and versatility in food products. In addition, the expanding variety of plant-based protein products, including meat substitutes, protein powders, and dairy alternatives, is meeting the needs of a broader consumer base, from athletes to individuals with dietary restrictions. As innovation in flavor and texture continues to improve, and as the market for vegan foods expands into mainstream retail and foodservice industries, the vegan protein market is positioned for sustained growth, reflecting the changing dietary habits of consumers worldwide.
Global Vegan Protein Market size was valued at USD 10.90 billion in 2024 and is projected to reach USD 18.98 billion by 2032, growing with a CAGR of 7.17% during the forecast period of 2025 to 2032.
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Below are the Top Vegan Protein Companies with a Significant Market Share:
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Rank |
Company |
Overview |
Product Portfolio |
Sales Geographical Coverage |
Developments |
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1. |
ADM |
ADM is a global leader in the agriculture and food processing industries, specializing in the production of plant-based proteins and other essential ingredients. As a major player in the global vegan protein market, ADM offers a variety of soy, pea, and faba bean proteins, catering to the growing demand for plant-based protein sources. The company operates with a focus on sustainability, sourcing ingredients from responsibly managed farms and offering innovative solutions to meet the nutritional needs of vegan and vegetarian consumers. |
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North America, South America, Middle East and Africa, Asia-Pacific, and Europe |
In August 2024, ADM was honored with the 2024 Sustainability Leadership Award by the Business Intelligence Group. This recognition celebrates ADM’s commitment to advancing sustainability through innovative practices and initiatives, reflecting their leadership in driving environmental and social impact within the industry. |
|
2. |
Cargill, Incorporated |
Cargill is one of the largest privately-held food and agricultural companies in the world, with a diverse range of products, including plant-based proteins. The company has made significant investments in plant-based protein production through acquisitions and partnerships in the vegan food sector. Cargill's portfolio includes pea, soy, and wheat proteins, serving a wide range of applications in vegan food, beverages, and nutritional products. With a focus on innovation and sustainability, Cargill is committed to supporting the growing demand for plant-based alternatives by offering high-quality. |
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North America, Middle East and Africa, Asia-Pacific, and Europe |
In April 2024, Cargill won three 2024 Edison Awards™ for innovations in Smart Transportation, Health & Beauty Care, and Social & Cultural Impact. These accolades recognized their WindWings technology, regenerative agriculture program, and plant-based BotaniDesign 105, showcasing their industry-leading advancements. |
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3. |
Wilmar International Ltd |
Wilmar International is a leading global agribusiness group with a strong focus on food production, plant-based proteins, and biofuels. The company produces a wide variety of vegetable oils, plant-based proteins, and other ingredients used in the manufacturing of plant-based food products. Wilmar’s plant-based protein offerings include soy and pea proteins, which are essential ingredients in vegan food formulations. |
Soy Protein |
North America, South America, Middle East and Africa, Asia-Pacific, and Europe |
In December 2023, Wilmar International completed its acquisition of a 43.275% stake in Durrah Advanced Development Company for approximately USD 64.7 million, boosting its ownership to 48.275%. This strategic move enhances Wilmar’s market position in the Saudi sugar industry, expanding its footprint and operational capabilities in the region. |
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4. |
Roquette Frères |
Roquette Frères is a global leader in the plant-based ingredients industry, specializing in plant proteins, starches, and other food solutions. With a significant presence in the vegan protein market, Roquette offers pea protein as part of its expanding portfolio of plant-based ingredients used in food, beverages, and health products. The company is committed to innovation and sustainability, focusing on producing high-quality vegan protein solutions to meet the growing demand for plant-based nutrition. |
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North America, South America, Asia-Pacific, and Europe |
In March 2024, Roquette Frères, COSUCRA, and the EMSLAND GROUP conducted Europe's first study on the environmental impact of yellow pea products. Using Life Cycle Analysis and EU methodologies, the study highlights the sustainability of pea ingredients, supporting the shift towards healthier, eco-friendly food options. This initiative aligns with the United Nations Sustainable Development Goals and underscores the commitment to sustainable food value chains. |
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5. |
Kerry Group plc |
Kerry Group is a global leader in taste and nutrition, specializing in the development of plant-based proteins, flavor systems, and functional ingredients for the food and beverage industry. The company offers a wide range of vegan proteins, including pea, soy, and rice proteins, catering to the growing demand for plant-based food products. Kerry Group's expertise in food science and technology allows it to create tailored solutions for the vegan and vegetarian market, ensuring that products meet consumer demands for taste, texture, and nutritional benefits. |
Hyprol Protein Hydrolysates
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North America, Middle East and Africa, Asia-Pacific, and Europe |
in 2020, Kerry acquired Pevesa Biotech, a Spanish company specializing in non-allergenic and organic plant proteins. This acquisition strengthened Kerry's position in the plant-based industry by expanding its expertise in biotechnology and broadening its plant protein offerings. |
Conclusion
The global vegan protein market is poised for continued growth, driven by shifting consumer preferences toward plant-based diets, increased awareness of health and environmental issues, and the expanding variety of plant-based protein products available. As more people seek alternatives to animal-based proteins for reasons related to health, sustainability, and ethical considerations, vegan protein sources like pea, rice, and soy are becoming integral to the food industry. With ongoing innovations improving product taste and texture, the market is well-positioned to cater to a diverse and expanding consumer base, from health-conscious individuals to those seeking sustainable food choices. As these trends continue, the vegan protein market will likely remain a key player in the global food sector.
