Northbrook, IL 60062 -- (SBWIRE) -- 11/01/2023 -- The global Textured Vegetable Protein Market, valued at USD 1.4 billion in 2022, is projected to reach USD 1.9 billion by 2027, with an impressive Compound Annual Growth Rate (CAGR) of 6.9%. This market report, published by MarketsandMarkets, highlights key factors influencing the industry's dynamics. Shifting consumer demand patterns, especially in developing regions, urbanization, rising incomes, and increased exposure to global products, have transformed the food and beverage industry. The younger demographic, focused on nutrition and brand value, is driving a shift from price sensitivity to quality consciousness.

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Key Insights:

European Market's Robust Growth:

Europe stands as a strong region for Textured Vegetable Protein, with evolving consumer consumption patterns and a focus on meat alternatives with improved texture, appearance, flavor, and composition. The region has witnessed a significant increase in the number of vegans, doubling from 1.3 million to an estimated 2.6 million, representing 3.2% of the population. Western European countries like the UK, France, and Germany show promising growth prospects for manufacturers, particularly in product development to expand their portfolios.

Textured Pea Protein on the Rise:

Textured pea protein, derived from peas, is gaining prominence due to its allergen-free nature and high protein content. This plant-based meat alternative is gluten and soy-free, offering an appealing taste and texture. It finds application in plant-based meats, cereals, and snacks. Its allergen-friendly nature, versatility in different product categories, and minimal genetic modification concerns make it a preferred choice. Additionally, textured pea protein is a high-quality protein source and provides benefits for muscle growth, weight loss, and heart health.

Extrusion Technique for Texture and Form:

Extrusion cooking is the commercially viable continuous processing method for obtaining textured vegetable proteins. Emerging technologies like the PowerHeater and shear-cell processing are under scrutiny, but extrusion remains the dominant approach. High-moisture extrusion technology is utilized in the production of textured plant protein meat analogs. Continuous advancements in technology and processing techniques are driving the market's growth.

Popularity of Textured Chunks:

Textured vegetable protein chunks, available in various sources like soy, pea, and wheat, serve as meat substitutes for vegans, vegetarians, and flexitarians. These high-protein chunks come in different forms, including regular and mini chunks, and are used in various food applications. They are versatile in size, ranging from 2.7 mm to 23 mm, and are suitable for soups and stews. Customizable flavor options and different sizes contribute to their popularity among vegan consumers.

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Key Market Players:

Key players in the Textured Vegetable Protein Market include ADM, Roquette Frères, Ingredion, DuPont, The Scoular Company, Beneo, Cargill, MGP, Shandong Yuxin Biotechnology Co. Ltd., Axiom Foods, Inc., Foodchem International Corporation, PURIS, Kansas Protein Foods, and DSM.

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