Textured Soy Protein Market Overview
As per the MRFR reports, the global textured soy protein market is estimated to touch USD 4,310.5 million by 2030, registering a growth rate of 9.8% during the forecast period of 2022 to 2030.
Textured soy protein (TSP), also called textured vegetable protein (TVP), refers to a defatted product derived from soy protein isolates, soy concentrates, or soy flour. Textured soy proteins comprise a minimum of 52 percent protein on a dry basis, because of which it is known to be a meat extender or meat analog. The global textured soy protein market has recorded enormous growth in recent years, owing mainly to the rising demand for textured soy protein attributed to growing health issues. The growing demand for a healthier diet across the globe is also likely to catalyze the textured soy protein market's growth. However, the requirement for more RD activities for textured soy products to be a complete meat substitute is likely to restrict the growth of the textured soy protein market insights over the coming years.
Competitive Analysis
The global textured soy protein market has a strong and competitive landscape. The players across the market are making heavy investments in research development activities to launch the latest and innovative products across the market worldwide. The list of prominent players in the textured soy protein market includes Hung Yang Foods Co., Ltd. (Netherlands), Crown Soya Protein Group (China), Linyi Shansong Biological Products Co., Ltd. (China), Victoria Group (Serbia), Dow DuPont (US), Archer-Daniels-Midland Co. (US), Sonic Biochem Extractions Ltd. (India), Shandong Yuxin Bio-Tech Co., Ltd. (China), Bremil Group (Brazil), Wilmar International Ltd. (Singapore), Cargill, Inc. (the US), and several others.
Segment Analysis
The global textured soy protein market has been fragmented into several segments based on applications, form, type, and region.
The textured soy protein market is divided into organic and conventional based on type.
Based on form, the textured soy protein market is split into soy flour, soy protein isolates, and soy protein concentrates.
Based on application, the global textured soy protein market is fragmented into feed, cereals snacks, bakery products, infant nutrition, dairy alternatives, and meat substitutes.
Regional Analysis
The global textured soy protein market trends is studied across four major regions: Asia-Pacific, Europe, North America, and RoW.
The North American region has further been segmented into Mexico, Canada, and the US. The region is projected to record the largest market share across the global textured soy protein market over the forecasted era. The regional market's growth is being driven by the high demand for a vegan diet with healthier and similar nutrition ingredients. Furthermore, the factors such as a healthier lifestyle, increasing per capita disposable income, and rising demand for high protein meat substitute products.
The European region is further divided into Spain, Italy, France, Germany, the UK, and the rest of Europe. The regional market is likely to record significant growth over the forecasted era due to growing vegan and vegetarian consumers across the region.
The Asia-Pacific region has further been classified into Australia New Zealand, Japan, India, China, and the rest of Asia-Pacific.
The rest of the world has been split into the Middle East Africa, and South America.
Recent Developments
- January 2022- Benson Hill, Inc. has announced that it is acquiring a recognized soy flour and food-grade white flake production operation based in southwest Iowa, ZFS Creston, LLC, for over USD102 million, initially funded via the latest debt facility. The investment meets the last step in Benson Hill's ability to transform its proprietary soybeans into value-added soy protein ingredients for the underserved pet and human food categories.
- October 2021- InnovoPro, an Israel-based food technology company, announced the first-ever textured vegetable protein across the globe derived from chickpeas this month at the SupplySide West conference in Las Vegas. The firm disclosed that its chickpea and pea-based Textured Chickpea Protein would be gluten-free, non-GMO, free from allergens, soy-free, and clean label.
Read More Blogs:
Soy Protein Market Research Report Information- by Type (Soy Protein Isolates, Soy Protein Concentrates, Soy Protein Flours and Others), by Form (Powder, Bars, Ready to Drink, Capsules Tablets and Others), by Application (Functional Foods, Sports Nutrition, Meat Additives, Confectionery Other Food Products, Pharmaceuticals and Others), by Distribution Channel (Supermarket/Hypermarket, Convenience store, E-commerce and Others) and Region - Forecast to 2030
Soy Derivatives Market Research Report Information by Type (Soy Oil, Soy Meal, Soy Protein, Soy Lecithin, Soy Milk), Category, Application (Food Beverage, Animal Feed, Pharmaceuticals Nutraceuticals, Personal Care), Region - Forecast till 2027
Soy Protein Ingredients Market Research Report Information by Type (Soy Protein Concentrates, Soy Protein Isolates, and Soy Flours), By Applications (Food Beverages, Feed, and Pharmaceuticals Nutraceuticals), And by Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.
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