Northbrook, IL 60062 -- (SBWire) -- 04/06/2022 --The Textured Vegetable Protein Market is estimated to be valued at USD 1.1 billion in 2020 and is projected to reach USD 1.5 billion by 2025, recording a CAGR of 6.2%, in terms of value. The growing demand for meat alternatives, as well as the increase in health awareness among consumers, are propelling the demand for textured vegetable protein. With the advancement of new technologies and innovative experiments in the food and beverage sector, the usage of textured vegetable protein has been dominant in the North American market, due to rise in vegan and flexitarian population, whereas the Asia Pacific region is growing fastest owing to new technologies and increase in the export of food and beverages.
Download PDF Brochure
'By source, the soy segment is projected to account for the largest share in the textured vegetable protein market during the forecast period'
Soy has been a low-calorie and low-fat source of vegetable protein. It is often used as a meat substitute or meat extender due to its low cost as compared to animal-based sources of protein. Moreover, when textured soy protein is cooked with meat, it aids in retaining more nutrients from the meat by absorbing fluids that are usually lost. Textured soy protein acts as an ideal substitute for meat and is gaining higher traction among vegan and flexitarian consumers. These characteristics are majorly driving the demand for the usage of soy as a prime source for textured vegetable protein.
'By type, slices segment is projected to account for the largest share in the market by form during the forecast period'
Textured vegetable protein slices were obtained by processing various beans with higher protein content. They are the unique source of protein that contains essential amino acids, protective ingredients, minerals, and vitamins, which are necessary for total metabolism. Sliced textured vegetable proteins used in meat alternatives are often used as a substitute for traditional meat products. Slices have primarily utilized in meat alternatives as burger patties, which are used in various consumer applications.
'Asia Pacific is projected to account for the faster-growing market with CAGR of 7.8% during the forecast period'
The textured vegetable protein market in this region is estimated to witness robust growth propelled by the economic developments of countries such as China, India, Japan, and Australia. The shift of industrialization and investments in Asia Pacific regions has grown substantially over the past decade, especially in China, which contributes to rapid economic growth. Therefore, several key market players in the region such as Wilmar International (Singapore), Fuji Oil Co. (Japan), Sun NutraFoods (India), Shandong Yuxin Soybean Protein (China), and Crown Soya Protein Group (China) have been emphasizing on developments to provide a large product portfolio in textured vegetable protein. The region also hosts a strong agricultural production base, which is a key factor in the production of vegetable-sourced protein.
Make an Inquiry
Key Market Players:
ADM (US), Cargill (US), CHS (US), Roquette Freres (France), DuPont (US), Wilmar International (Singapore), The Scoular Company (US), Puris Foods (US), VestKorn (Norway), MGP Ingredients (US), Beneo GmbH (Germany), Shandong Yuxin Bio-Tech (China), FoodChem International (China), Shandong Wonderful Industrial Group (China), Axiom Foods (US), AGT Food & Ingredients (Canada), Sun NutraFoods (India), Crown Soya Protein Group (China), La Troja (Spain), and Hung Yang Foods (Taiwan).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Textured Vegetable Protein Market Emerging Trends and Developments
Textured Vegetable Protein Market by Application (Meat alternatives, Cereals & snacks, Others), Form, Source (Soy, Wheat, and Peas), Type (Slices, Flakes, Chunks, and Granules), and Region - Global Forecast to 2025