Sales of texturized vegetable protein in Korea are poised to surge at a 6.2% CAGR through 2033.The demand for texturized vegetable protein in Korea is expected to steadily increase, reaching a value of US$ 20.4 million in 2023. Sales projections for texturized vegetable protein in Korea suggest a potential value of U$ 37.4 million by 2033.
Key Trends Bolstering Revenues:
Attributes | Details |
---|---|
Industry Size in Korea in 2023 | US$ 20.4 million |
Expected Industry Size of Korea by 2033 | US$ 37.4 million |
Forecasted CAGR between 2023 to 2033 | 6.2% |
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The demand outlook for texturized vegetable protein in Korea suggests soy protein is widely preferred, and it acquires 68.1% of industry shares in 2023.
Leading Product Type for Texturized Vegetable Protein in Korea | Soy Protein |
---|---|
Total Value Share (2023) | 68.1% |
Given the established supply chains and economies of scale, the soy protein is produced efficiently, allowing for competitive pricing strategies. Consumers in Korea, who frequently prioritize pricing when making purchases, are attracted by this cost-effectiveness. Continuous developments in soy protein processing technology have enabled producers to offer diverse soy-based texturized vegetable protein products. This assortment includes everything from classic soy chunks to more complex meat analogs, catering to a wide range of customer tastes and culinary uses.
The demand outlook for texturized vegetable protein in Korea signifies granules are a highly sought form in the industry, and it currently capture 31.9% of industry shares in 2023.
Leading Form for Texturized Vegetable Protein in Korea | Granules |
---|---|
Total Value Share (2023) | 31.9% |
Texturized vegetable protein granules' size and texture are capable of being readily adjusted by manufacturers to meet individual recipe needs and consumer preferences, providing a customized gourmet experience. Granules are space-efficient and cost-effective to package, lowering storage and shipping costs for both producers and merchants. Granular forms are well-suited for retail shelves because they provide various packaging options, portion control, and ease of usage, appealing to a wide range of consumer demands. While embracing the plant-based movement, Korean customers choose texturized vegetable protein granules to prepare traditional foods such as bulgogi, dakgalbi, or sundubu jjigae, strengthening their market dominance.
A dynamic interaction between domestic and foreign competitors, each pushing for supremacy in the industry and consumer attention, best describes the competitive landscape of the texturized vegetable protein industry in Korea. As the demand for plant-based protein substitutes grows, competition heats up as businesses strategically position themselves to target this expanding consumer base.
Within this environment, intuitive alliances and partnerships are frequent. Businesses frequently form partnerships with well-known chefs, culinary influencers, and local eateries to develop distinctive texturized vegetable protein-based dishes and spread awareness of their goods. These partnerships provide a level of authenticity and gourmet appeal that draws customers looking for unique culinary experiences.
Strategies for Key Players to Tap into Potential Growth Opportunities
Recent Developments Observed in Texturized Vegetable Protein in Korea
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Attribute | Details |
---|---|
Estimated Industry Size in 2023 | US$ 20.4 million |
Projected Industry Size in 2033 | US$ 37.4 million |
Anticipated CAGR between 2023 to 2033 | 6.2% CAGR |
Historical Analysis of Demand for Texturized Vegetable Protein in Korea | 2018 to 2022 |
Demand Forecast for Texturized Vegetable Protein in Korea | 2023 to 2033 |
Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Texturized Vegetable Protein Adoption in Korea, Insights on Industry Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korean Manufacturers |
Key Cities Analyzed While Studying Opportunities in Texturized Vegetable Protein in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
Key Companies Profiled | UNLIMEAT; Pulmuone; CJ CheilJedang; Ottogi; Nongshim; Dongwon F&B; Samjin Globalnet; Harvest Corporation; Harim; Daesang; Cheil Foods |
The expected CAGR until 2033 stands at a modest rate of 6.2%.
Anticipated demand for texturized vegetable protein in Korea is projected to reach US$ 37.4 million by 2033.
The rising clean labeling and sustainability trends influence demand in Korea.
Texturized vegetable protein manufacturers emphasize product innovation for emerging niches.
Soy protein is highly preferred in the texturized vegetable protein industry in Korea.
1. Executive Summary 1.1. Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Nature 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Nature, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Nature, 2023 to 2033 5.3.1. Organic 5.3.2. Conventional 5.4. Y-o-Y Growth Trend Analysis By Nature, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Nature, 2023 to 2033 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Product Type, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Product Type, 2023 to 2033 6.3.1. Soy Protein 6.3.1.1. 10-40% Protein 6.3.1.2. 40-50% Protein 6.3.1.3. 50-65% Protein 6.3.1.4. 70-90% Protein 6.3.2. Wheat Protein 6.3.2.1. 10-40% Protein 6.3.2.2. 40-50% Protein 6.3.2.3. 50-65% Protein 6.3.2.4. 70-90% Protein 6.3.3. Pea Protein 6.3.3.1. 10-40% Protein 6.3.3.2. 40-50% Protein 6.3.3.3. 50-65% Protein 6.3.3.4. 70-90% Protein 6.3.4. Rice Protein 6.3.5. Faba Bean Protein 6.3.6. Lentil Protein 6.3.7. Flax Protein 6.3.8. Chia Protein 6.3.9. Corn Protein 6.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Form 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Form, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Form, 2023 to 2033 7.3.1. Chunks 7.3.2. Slices 7.3.3. Flakes 7.3.4. Granules 7.4. Y-o-Y Growth Trend Analysis By Form, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Form, 2023 to 2033 8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End-Use 8.1. Introduction / Key Findings 8.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By End-Use, 2018 to 2022 8.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By End-Use, 2023 to 2033 8.3.1. Household 8.3.2. Industrial 8.3.2.1. Bakery 8.3.2.2. Snacks 8.3.2.3. Ready Meals 8.3.2.4. Sports Nutrition 8.3.2.5. Clinical Nutrition 8.3.2.6. Baby Food 8.3.2.7. Meat Analogues 8.3.2.8. Others 8.3.2.9. Animal Feed & Pet Food 8.3.3. Commercial 8.4. Y-o-Y Growth Trend Analysis By End-Use, 2018 to 2022 8.5. Absolute $ Opportunity Analysis By End-Use, 2023 to 2033 9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Process Type 9.1. Introduction / Key Findings 9.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Process Type, 2018 to 2022 9.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Process Type, 2023 to 2033 9.3.1. Dry TVP 9.3.2. Wet TVP 9.4. Y-o-Y Growth Trend Analysis By Process Type, 2018 to 2022 9.5. Absolute $ Opportunity Analysis By Process Type, 2023 to 2033 10. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 10.1. Introduction / Key Findings 10.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Distribution Channel, 2018 to 2022 10.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Distribution Channel, 2023 to 2033 10.3.1. Direct 10.3.2. Indirect 10.3.2.1. Store Based Retailing 10.3.2.2. Hypermarkets/Supermarket 10.3.2.3. Convenience Stores 10.3.2.4. Traditional Grocery Retailers 10.3.2.5. Food & Drink Speciality 10.3.2.6. Online Retail 10.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2018 to 2022 10.5. Absolute $ Opportunity Analysis By Distribution Channel, 2023 to 2033 11. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. Introduction 11.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Region, 2018 to 2022 11.3. Current Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Region, 2023 to 2033 11.3.1. South Gyeongsang 11.3.2. North Jeolla 11.3.3. South Jeolla 11.3.4. Jeju 11.3.5. Rest of Korea 11.4. Market Attractiveness Analysis By Region 12. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 12.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Nature 12.2.2. By Product Type 12.2.3. By Form 12.2.4. By End-Use 12.2.5. By Process Type 12.2.6. By Distribution Channel 12.3. Market Attractiveness Analysis 12.3.1. By Nature 12.3.2. By Product Type 12.3.3. By Form 12.3.4. By End-Use 12.3.5. By Process Type 12.3.6. By Distribution Channel 12.4. Key Takeaways 13. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 13.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Nature 13.2.2. By Product Type 13.2.3. By Form 13.2.4. By End-Use 13.2.5. By Process Type 13.2.6. By Distribution Channel 13.3. Market Attractiveness Analysis 13.3.1. By Nature 13.3.2. By Product Type 13.3.3. By Form 13.3.4. By End-Use 13.3.5. By Process Type 13.3.6. By Distribution Channel 13.4. Key Takeaways 14. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 14.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Nature 14.2.2. By Product Type 14.2.3. By Form 14.2.4. By End-Use 14.2.5. By Process Type 14.2.6. By Distribution Channel 14.3. Market Attractiveness Analysis 14.3.1. By Nature 14.3.2. By Product Type 14.3.3. By Form 14.3.4. By End-Use 14.3.5. By Process Type 14.3.6. By Distribution Channel 14.4. Key Takeaways 15. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 15.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 15.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 15.2.1. By Nature 15.2.2. By Product Type 15.2.3. By Form 15.2.4. By End-Use 15.2.5. By Process Type 15.2.6. By Distribution Channel 15.3. Market Attractiveness Analysis 15.3.1. By Nature 15.3.2. By Product Type 15.3.3. By Form 15.3.4. By End-Use 15.3.5. By Process Type 15.3.6. By Distribution Channel 15.4. Key Takeaways 16. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 16.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 16.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 16.2.1. By Nature 16.2.2. By Product Type 16.2.3. By Form 16.2.4. By End-Use 16.2.5. By Process Type 16.2.6. By Distribution Channel 16.3. Market Attractiveness Analysis 16.3.1. By Nature 16.3.2. By Product Type 16.3.3. By Form 16.3.4. By End-Use 16.3.5. By Process Type 16.3.6. By Distribution Channel 16.4. Key Takeaways 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Nature 17.3.3. By Product Type 17.3.4. By Form 17.3.5. By End-Use 17.3.6. By Process Type 17.3.7. By Distribution Channel 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. CJ CheilJedang 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.1.5.2. Product Strategy 18.1.1.5.3. Channel Strategy 18.1.2. Archer Daniels Midland Company 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.2.5.2. Product Strategy 18.1.2.5.3. Channel Strategy 18.1.3. CHS Inc. 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.3.5.2. Product Strategy 18.1.3.5.3. Channel Strategy 18.1.4. Roquette Frères 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.4.5.2. Product Strategy 18.1.4.5.3. Channel Strategy 18.1.5. Beneo GmbH 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.5.5.2. Product Strategy 18.1.5.5.3. Channel Strategy 18.1.6. Danisco A/S 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.6.5.2. Product Strategy 18.1.6.5.3. Channel Strategy 18.1.7. Vestkron A/S 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.7.5.2. Product Strategy 18.1.7.5.3. Channel Strategy 18.1.8. Cargill Inc. 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.8.5.2. Product Strategy 18.1.8.5.3. Channel Strategy 18.1.9. FUJI OIL CO., LTD. 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.9.5.2. Product Strategy 18.1.9.5.3. Channel Strategy 18.1.10. Puris Proteins, LLC. 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 18.1.10.5.2. Product Strategy 18.1.10.5.3. Channel Strategy 18.1.11. Ingredion Inc. 18.1.11.1. Overview 18.1.11.2. Product Portfolio 18.1.11.3. Profitability by Market Segments 18.1.11.4. Sales Footprint 18.1.11.5. Strategy Overview 18.1.11.5.1. Marketing Strategy 18.1.11.5.2. Product Strategy 18.1.11.5.3. Channel Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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