2021 Plant Protein Ingredients Enterprise Ranking: IFF/ADM/Roquette ranked top three

The FoodTalks Global Top 40 Plant Protein Companies in 2021 selected the ranking of the plant protein companies through information collection and research on a total of 349 companies at home and abroad. This plant protein list comprehensively considers the turnover, annual output, scale, scientific research investment, brand recognition, and degree of globalization of the company's plant protein ingredients B2B business segment for ranking.

We hope that through this list, we can provide a more comprehensive information map for the plant protein ingredients industry.

1. Summary of the list

Among the companies on this list, the top three are IFF (formerly DuPont Danisco), ADM and Roquette. Among them, soy protein accounts for the largest share in the global plant protein ingredient supply market, accounting for 60% of the total market share. Mainland China is the main producer of soy protein ingredients, with an annual production capacity of 1 million tons, accounting for 50% of the world's total output.

In this plant protein list, the leading suppliers of soy protein include: IFF (formerly DuPont Danisco), ADM, Fuji Oil, Yuwang Ecological, Gushen BIO, Shandong Yuxin Bio, Jinhai Food, Shansong Bio And Wonderful etc. China's soy protein ingredient suppliers account for 40% of the list.

Pea protein has also shown great potential in the market due to its non-allergic risk characteristics. CBNData data shows that the annual growth rate of pea protein in China is more than 25%, which is much higher than that of soy protein, which has an annual growth rate of less than 10%. Among the companies on the list, the world's leading pea protein companies include Roquette (Beyond Meat's largest pea protein supplier), Cargill of the United States and Cosucra of Belgium. In China, Pea Protein suppliers are mainly concentrated in Shandong Province, such as Shuangta Foods, Jianyuan Bio and Oriental Protein. Among them, Shuangta Foods has a production capacity of 70,000 tons of pea protein, with a global market share of 30%. It also held a plant meat new product launch conference in November 2020, which marks the identity of Shuangta Foods from a raw material supplier to a brand owner. change.

As consumers’ eating habits change and their awareness of health, environmental issues, ethics, and animal welfare continues to increase, more and more people are choosing vegetarian food, which further increases the consumption of plant protein. A report by the BIS Research Institute predicts that the plant-based market will reach US$480.43 billion in 2024, with a compound annual growth rate of 13.82%, indicating that the market demand for plant-based products is increasing.

The technical barrier of plant meat is ultimately reflected in the taste of consumers, and the choice of plant protein plays a vital role in it. The protein sources of plant meat are mainly soybeans and peas (KFC, Starbucks, other meat customers...what plant proteins are used in 20+ plant meat products in the world?), because the cost of soy protein is about 1/3 of pea protein , The processing technology is more mature, and the taste of soy protein after technical processing is closest to the fibrous taste of meat, so it drives higher demand and expands the overall scale of soy protein.

Second, the basis for making the list

The 2021 global plant protein list comprehensively considers the turnover, annual output, scale, scientific research investment, brand recognition, and degree of globalization of the company's plant protein ingredients. Regarding the plant protein product standards for food processing purposes, we refer to the national food safety standard "GB 20371-2016", EU COM/2018/757 Plant Protein Development Report. The sub-categories of this plant protein list include: soybeans, peas, broad beans, wheat, corn, rice, oats, peanuts, mung beans and chickpea protein.

In order to ensure the comprehensiveness of the ranking companies, we conducted a survey of a total of 349 related companies at home and abroad. At the same time, in order to facilitate everyone's understanding of the basis and data sources of this time, the following is specially explained:

a) The performance of listed companies We only count the business-related parts, (that is, operating income related to plant protein ingredients that are only used in the food field) data source refers to the latest annual report of the company.

b) Based on the first principle, in response to the insufficient breakdown of performance data in some annual reports of listing, we interviewed companies and consulted internal data for reference. If there is no segmented performance data, we will make a comprehensive ranking based on its scientific research capabilities, annual output of relevant ingredients, company size, brand recognition and degree of globalization. In addition, in corporate B2B business, if protein ingredients are used in the food industry, then we will judge them as food-related businesses and count them; if not, we will exclude this data.

c) Since most unlisted companies have not announced their turnover and specific revenue composition, they usually estimate their performance by default based on product proportions, and combine them with known output, patents and other dimensions of data for comprehensive consideration. If there are other non-related categories of business in the main business, which may occupy 3/4 or more and are not well-known businesses (subjective judgment), the company will not be added to this ranking.

d) The companies on the list are all companies that have a B2B business for plant protein ingredients. If there is no B2B business for plant protein ingredients, the company will not be included in this ranking.