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.
Principal Consultant
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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Demand and Trend Analysis of Texturized Vegetable Protein in Korea
