Nearly Half of World's Total Texturized Soy Protein Likely to be Consumed in Europe
The Fact.MR study on the textured soy protein market offers exclusive insights into key factors affecting the market's growth trajectory. The survey report discloses dynamic factors affecting the market across various segments in terms of product type, nature, form, and application
NEW YORK, Sept. 6, 2021 /PRNewswire/ -- A Market Research and Competitive Intelligence Provider: As per the latest industry analysis by Fact.MR, the global textured soy protein market will total US$ 880 million in 2021. In response to the increasing demand from various end-use industries such as bakery, dairy alternatives, and others, the demand for textured soy protein is estimated to rise at a healthy CAGR of 6.4% over the assessment period 2021-2031.
There are several benefits associated with the consumption of soybean. For instance, according to a study by the National Soybean Research Laboratory (NSRL), soybean plant offers complete protein needs of the human body. Thus, rising awareness about various nutritional properties of soybean is propelling the demand for textured soy protein among health-conscious consumers.
These ingredients are increasingly preferred by fitness enthusiasts, sports person, and athletes as a preferred source of low fat, plant-based protein, which is easily digestible. The increasing vegetarian population across the globe will further bolster prospects for sales of textured soy protein.
Europe is anticipated to lead the global market, accounting for total sales revenue of more than US$ 614 million. Driven by the growing popularity of non-dairy foods and beverages in countries such as Germany, Switzerland, the U.K., and others, the region is projected to account for around 45% of the global share, exhibiting a year-on-year growth of 4.4% in 2021.
"With the rise in consumption of plant-based food products along with the increasing vegan trend across countries such as Israel, Italy, Taiwan, and India, the textured soy protein market will exhibit a steady growth in the coming year," says a Fact.MR analyst.
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Key Takeaways from Textured Soy Protein Market Study
The market for textured soy protein in the U.S. is estimated to account for more than 90% of the revenue share in North America by the end of 2031.
China is projected emerge as one of the most lucrative markets in 2021, contributing over US$ 32.2 million to the East Asia landscape.
Favored by the increased intake of plant-based food and beverages, Germany is likely to hold nearly 16.5% of the European market share.
The India market for textured soy protein is forecast to reach a valuation of US$ 68.8 million, expanding at an impressive CAGR of 8.2% through 2031.
Based on form, the chunk segment is expected to account for more than 25% of the global share, growing at a CAGR of 6.7% between 2021 and 2031.
Rising popularity of textured soy protein as a meat substitute is driving the market growth.
Increasing vegetarian population across the globe is spurring the sales of textured soy protein.
Growing consumption of plant-based food products is fueling the demand for textured soy protein.
Strict regulations laid by the government for genetically modified (GM) crops are restraining the market growth.
Unpleasant flavor of soybean is a factor hampering the sales of textured soy protein.
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Leading manufacturers operating in the market are focusing on enhancing their product portfolio and expanding their production capacity by adopting strategies such as establishing new manufacturing unit, acquisition, collaboration, and partnerships. For instance,
In 2019, Archer-Daniels-Midland (ADM), an American multinational food processing company announce expanding its production line in Brazil by developing a new soy protein production facility. The facility produces a variety of functional protein concentrates and isolates for the company's current products portfolio.
In 2018, Roquette Frères, a global leader in plant-based ingredients headquartered in France, announce expansion of the Food Customer Technical Service Centre (CTS) in Tokyo to cater to increasing demand for plant-based protein food products in Japan and other Asian markets.
Leading market players operating in the textured soy protein market profiled by Fact.MR are:
Archer Daniels Midland
DuPont Nutrition & Health
The Good Scents Company
Kerry Group Plc.
Costantino Special Protein
New Alliance Dye Chem Pvt. Ltd
More Valuable Insights on Textured Soy Protein Market
Fact.MR, in its new report, offers an unbiased analysis of the global textured soy protein market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in textured soy protein market with detailed segmentation:
By Product Type
Key Questions Covered in the Textured Soy Protein Market Report
The market survey also highlights projected sales growth for textured soy protein market between 2021 and 2031
The report offers insight into textured soy protein demand outlook for 2021-2031
Textured soy protein market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Textured soy protein market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Explore Fact.MR's Coverage on the Food & Beverage Domain
Soy Protein Hydrolysate Market - During 2017-2026, the APEJ region is expected to lead the global soy protein hydrolysate market, with an above-average CAGR. Rising per capita income and the rapid adoption of healthier lifestyles are driving demand for foods containing soy protein hydrolysate. Throughout the evaluation period, dry soy protein hydrolysate will continue to outsell the liquid variant. Dry soy protein hydrolysate sales currently account for more than 2/3rd of the global market in terms of revenue.
Non-GMO Soy Protein Market - Non-GMO protein demand, in particular, is on the rise, as it encompasses overarching trends like clean label, plant-based protein, better-for-you options, healthful eating, and sustainability. Furthermore, consumer aversion to artificial products is emerging as a key growth driver in the non-GMO soy protein market. Increased keto diet adoption, snacking in place of traditional meals, and clean label have all influenced the growth of the non-GMO soy protein market.
Soy Free Protien Powder Market - The growing importance of a healthy diet and supplements in vegan diets is driving the global market for soy free protein powder. The global market for soy free protein powder supplements is expanding rapidly due to an increase in health and fitness centres and consumer health consciousness. Furthermore, growing functional advantages and various health benefits are expected to drive demand for soy free protein powder in the health market.
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