Textured Soy Protein Market Size, Share | Growth & Trends 2022-2027
The latest research study by IMARC Group, “Textured Soy Protein Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on global textured soy protein market size. The global textured soy protein market reached a value of US$ 1.57 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.68 Billion by 2027, exhibiting a CAGR of 9.05% during 2022-2027.
Textured Soy Protein Industry Outlook:
Textured soy protein (TSP) or textured vegetable protein (TVP) is manufactured from a soy flour mixture made from grounding defatted soy flakes. It is a highly processed food product that is compressed into granules, nuggets, or dried soy chunks and is rehydrated before cooking. It is used as a meat extender or substitute in meatloaf, seafood, tacos, spaghetti sauce, veggie burgers, peppers, and plant-based chili mixes. It is low in calories, contains vitamin-like folate, and is also rich in fiber, folate, copper, thiamin and magnesium. As a result, textured soy protein is widely utilized across the food and beverage (F&B) sector.
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The market is primarily driven by the increasing demand for protein-rich food due to growing health awareness about a low-carb diet. In addition, the widespread adoption of textured soy protein and ready-to-eat (RTE) food products on account of the hectic lifestyles of individuals is contributing to market growth. Moreover, the introduction of non-genetically modified organisms (non-GMO) and gluten-free variants in several shapes, textures, and colors to meet customer demand represents another major growth-inducing factor.
Besides this, the growing popularity of vegetarian and vegan diets among consumers is also providing a positive thrust to market growth. Furthermore, the easy product availability on e-commerce platforms, and extensive research and development (R&D) activities, and mergers and acquisitions (M&A) among leading market players are creating a favorable market outlook.
|Textured Soy Protein Market Report Scope|
|Market size value in 2021||US$ 1.57 Billion|
|Market forecast in 2027||US$ 2.68 Billion|
|Growth Rate||CAGR of 9.05% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
Key Market Segmentation:
The report has segmented the global textured soy protein market on the basis of nature, source, application and region.
Breakup by Nature:
Breakup by Source:
- Soy Protein Concentrates
- Soy Protein Isolates
- Soy Flour
Breakup by Application:
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are Archer-Daniels-Midland Company, Bob’s Red Mill Natural Foods, Bunge Limited, Cargill Incorporated, CHS Inc., Crown Soya Protein Group Company, International Flavors & Fragrances Inc., Fuji Oil Holdings Inc., Shandong Yuxin Biotechnology Co. Ltd., Sonic Biochem Extraction Pvt Ltd and Wilmar International Limited.
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