Global Textured Soy Protein Market: Industry Analysis and Forecast (2021-2027)

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Global Textured Soy Protein Market size was valued at US$ xx Mn in 2019 and the total revenue is expected to grow at 6.5 % through 2021 to 2027, reaching nearly US$ 1,107.9 Mn.

Global Textured Soy Protein Market Overview:

The Global Textured Soy Protein Market was estimated at US$ 713.2 Million in 2020, and it is expected to reach US$ 1,107.9 Million by 2027, growing at a CAGR of 6.5% over the forecast period of 2021-2027.

Soy protein isolates or soy concentrate are used to make textured soy protein, also known as textured vegetable protein. It comes in pieces, nibbles, slices, and crumbles. Textured soy protein is a meat substitute that can be flavoured in a variety of ways. It's simple to prepare and has a high protein level similar to meat.

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The report has covered the market trends from 2015 to forecast the market through 2026. 2019 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Global Textured Soy Protein Market Dynamics:

Consumer awareness of the availability of low-cost protein is a crucial element driving the global textured soy protein market forward. Another significant factor expected to drive demand for textured soy protein in the global market is the growing vegan and vegetarian population. Consumer demand is increasing. Individuals' preference for high-protein foods is another aspect driving the target market's rise. Textured soy protein is utilised as a flavour binder in a variety of cuisines because it absorbs oil, preserves moisture, and has a better texture, all of which are factors that are expected to boost its demand in the food business. Growing consumer health consciousness is expected to drive the global textured soy protein market forward in the near future.

The low cost of soy and its excellent nutritional content are the driving forces behind researchers' efforts to create new and appealing flavours for soy products. Efforts are being made to find ways to mitigate the disagreeable flavour during the extraction process or during the processing phase by adding sugar compounds.

Stringent government regulations for genetically modified crops: The cultivation of genetically modified crops may be hampered by government laws. It's a factor that could stifle the global textured soy protein market's growth. Still, the introduction of flavoured soy protein and the rising demand for plant-based proteins could result in significant revenue growth for businesses in the target market.

Global Textured Soy Protein Market Segment Analysis:

On the basis of product type, the global textured soy protein market is sub-segmented into non-gmo, conventional, and organic. The non-GMO segment held a large market share of 53.9 % in 2019, owing to growing public awareness of the dangers of genetically modified (GM) crops, as well as demand for non-GMO products are expected to boost market growth forward. Furthermore, limitations on genetically modified soya beans in India, China, and other nations have increased demand for non-GMO crops.

The organic segment is a second-dominant segment and it is expected to grow at a CAGR of 9.4% during the forecasting period. The growing demand for organic food products around the world is propelling this market forward. Demand for organic foods and beverages containing textured soy protein has risen as a result of people's hectic work schedules. Furthermore, as people become more health-conscious, there is a greater desire for items that are free of preservatives and additives.

On the basis of application, the global textured soy protein market is sub-segmented into food, and feed. The food segment is the dominant segment and it held xx% of the share in 2019, owing to the growth in the number of vegan customers looking for plant-based proteins to replace meat. For healthy functioning, growth, reproduction, and metabolism, human require a constant supply of proteins. As a result, nutritional diets with sufficient protein fibres are required in the food. As a result, the need for textured soy protein in food is increased. Soya proteins are a good source of complementary and additional proteins because they improve solubility, water absorption, viscosity, emulsification, texture, and anti-oxidation, which increases demand.

On the basis of source, the global textured soy protein market is sub-segmented into soy protein concentrates, soy protein isolates, soy flour. The Soy protein concentrates segment held a large share of xx% in 2019, owing to being easily digestible, available in granule, low cost or cheaper, cholesterol-free, and spray-dried forms. They are appropriate for customers of all ages, including youngsters, pregnant and nursing ladies, and the elderly.

The soy protein isolates segment was the second-largest in terms of volume because of its higher protein composition (90%), it helps to lose weight, boost energy or build muscle. Soy protein isolate may also manage hormonal balance and lower the risk of breast cancer and heart disease. In terms of both value and volume, soy protein isolates are expected to grow at CAGR of xx% during the forecast period.

Global Textured Soy Protein Market 1

Global Textured Soy Protein Market Regional Insights:

The North American market accounts for the major market share in terms of revenue and is expected to rapid growth during the forecast period. North America held xx% share of global market and demand of this region is increasing due to growing vegan adoption, combined with rising demand for vegan food products and rising soy production, particularly in emerging economies like China and India, are driving the market's growth in this region.

The Asia Pacific is expected to have the highest CAGR of 11.4% during the forecasting period of 2021-2027. The regional market is growing due to rising soya bean output and increased awareness of the health advantages of soya beans. China is one of the region's top consumers. It has a market share of more than 20% in the Asia Pacific region.

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The objective of the report is to present a comprehensive analysis of the global Textured Soy Protein market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Textured Soy Proteinmarket dynamics, structure by analyzing the market segments and projects the global Textured Soy Protein market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Textured Soy Protein market make the report investor’s guide.

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Global Textured Soy Protein Market Scope: Inquire before buying

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Global Textured Soy Protein Market, by Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

Global Textured Soy Protein Market Key Players

• Archer Daniels Midland Company

• Cargill, Inc.

• Wilmar BioEthanol

• Victoria Group

• Bremil Group

• Sonic Biochem

• CROWN SOYA PROTEIN GROUP

• HOYA FOOD

• SHANDONG YUXIN BIO-TECH CO., LTD.

• Bunge

• DuPont Nutrition & Health

• Good Scents Company

• Abbott Nutritionals

• Kerry Group Plc.

• Friesland Campina.

• Hung Yang Foods

• Linyi Shansong Biological

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