Global Textured Soy Protein Market Size, Share, Opportunities, And Trends By Type (Conventional, Organic), By Application (Food And Beverages (Meat Substitutes, Dairy Alternatives, Infant Nutrition, Bakery Products, Cereal & Snacks, Other Food Applications), Animal Feed), And By Geography - Forecasts From 2023 To 2028
- Published : Mar 2023
- Report Code : KSI061614530
- Pages : 140
Textured soy protein (TSP), is a soybean derivative that is sometimes referred to as textured or textured vegetable protein (TVP). Like soy flour and other derivatives of soybeans, soybean meal is a by-product of soybean oil. Meat is usually added to it. Shaped soy protein is regularly substituted for meat and, in certain cases, is utilized as meat. This specific brand of ground beef. Because of this, it makes a wonderful meat substitute for foods like tacos, peppers, spaghetti, and hamburgers. TVP can be used in meat dishes to improve flavor.
A key factor in the market for textured soy protein is raising consumer awareness of the availability of affordable protein. The rising number of vegetarians and vegans is another important factor boosting soy protein demand in the industry. Rising individual consumption is yet another factor promoting the growth of a high-protein food target market. Since it absorbs oil, holds onto moisture, and enhances texture, structured soy protein is used as a flavor binder in a range of foods, which contributes to its high demand in the food industry. Also, the market for textured soy protein will develop as consumers become more health aware.
The expansion of the worldwide market for textured soy protein over the forecast period is being driven by the rise in demand for meals that are high in protein. The demand for textured soy protein has risen as a result of consumers choosing diets that are low in protein and fat and an increase in health awareness. It has been predicted that the worldwide market for textured soy protein would grow faster in the future.
Textured non-GMO soy protein to rise in popularity
Soy is a popular substitute for meat and dairy products due to its high nutritional content, and an increasing number of people are becoming more health aware as a result. Non-GMO textured soy proteins are likewise high in protein, rich in dietary fiber and minerals, devoid of cholesterol, lactose, and casein, and microbiologically sterile. They are also free of contamination. As more people become health conscious and seek clean-label products, the demand for this soy protein is rising quickly. The demand for non-GMO goods like textured soy protein is also rising as people become more aware of the negative impacts of genetically modified crops. In addition, the ban on genetically modified soya beans in China, India, and other nations has increased demand for non-GMO textured soy protein worldwide.
The market for textured soy protein is predicted to grow steadily due to the rising demand for protein-rich foods.
Throughout the projected period, the market for textured soy protein is anticipated to rise due to rising consumer demand for protein-rich foods. As suitable substitutes for animal products, this has changed consumers’ preference for plant-based proteins. According to the Food Protein R&D Center, soy has 40% protein on average, which translates to 63.6 million tonnes of usable soy protein. Moreover, the National Center for Biotechnology Information estimates that the current protein requirement for the world's 7.3 billion people is 202 million tonnes worldwide. Textured soy protein is constantly in demand for use in a variety of food products, including bread goods, cereals, snacks, and dairy and meat replacements.
North America is projected to be the prominent market shareholder in the textured soy protein market globally and is anticipated to continue throughout the forecast period.
The strong desire for a vegan diet that has comparable nutrition and better components than meat and animal products would likely cause North America to lead the worldwide textured soy protein market. Due to changes in lifestyle, an unbalanced diet, and enhanced R&D to create new varieties of textured plant-protein enriched goods, the market for textured soy protein is expanding quickly. The region's textured soy protein industry has been made possible by consumer demand for processed and low-cholesterol meals. Production of textured soy protein in the area will be aided by rising per capita disposable income and a healthier lifestyle.
Also, the demand for high protein and meat alternative goods is rising among North American vegan and vegetarian customers, which is fueling the industry.
Market Key Developments
- In July 2022, an innovative Protein Innovation Center will be built in Decatur by the American food and feed processing business Archer Daniels Midland with a $300 million investment to increase its capabilities in alternative proteins. The company's capacity to meet the demand for cutting-edge products is anticipated to improve as a result of the protein innovation center.
- In November 2021, Sojaprotein was purchased by US-based feed processing business Archer Daniels Midland for an unknown sum. To fulfill demand on a worldwide scale, the acquisition intended to develop and improve Archer Daniels Midland's plant-based protein manufacturing capabilities. A non-GMO (Genetically Modified Organism) soybean processing business in Serbia called Sojaprotein creates both human food and animal feed.
- By Type
- By Application
- Food and Beverages
- Meat Substitutes
- Dairy Alternatives
- Infant Nutrition
- Bakery Products
- Cereal & Snacks
- Other Food Applications
- Animal Feed
- Food and Beverages
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL TEXTURED SOY PROTEIN MARKET, BY TYPE
6. GLOBAL TEXTURED SOY PROTEIN MARKET, BY APPLICATION
6.2. Food and Beverages
6.2.1. Meat Substitutes
6.2.2. Dairy Alternatives
6.2.3. Infant Nutrition
6.2.4. Bakery Products
6.2.5. Cereal & Snacks
6.2.6. Other Food Applications
6.3. Animal Feed
7. GLOBAL TEXTURED SOY PROTEIN MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. The Archer-Daniels-Midland Company
9.2. Cargill, Incorporated
9.3. DuPont de Nemours, Inc.
9.4. Wilmar International Limited
9.5. Victoria Group
9.6. Crown Soya Protein Group
9.7. Bremil Group
9.8. Hoya Food
9.9. Sonic Biochem
The Archer-Daniels-Midland Company
DuPont de Nemours, Inc.
Wilmar International Limited
Crown Soya Protein Group
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