Global textured soy protein markets were valued at USD 3.53 Billion in 2018. They are expected to grow at a 9.1% compound annual growth rate (CAGR), from 2019 to 2025. The market for texture soy protein will be driven by increasing demand for protein-rich foods over the forecast period. Consumers are choosing low-carb, low-fat foods due to growing health awareness. This is driving product demand.
Market growth is also expected to be supported by the increasing demand for functional drinks. Market growth will be further driven by the increasing demand for Ready to Eat (RTE) foods products due to a busy lifestyle. Market expansion will also be driven by the rising popularity of textured soybean protein as a meat replacement.
According to research published in 2018, the demand for meat substitutes as well as other plant-based alternatives for animal-based products such milk, yogurt, cheese increased by 25% and 17% respectively. Due to increasing awareness and environmental concerns about animal cruelty, manufacturers are increasingly introducing meat analog products. This is expected to increase product demand.
Non-GMO soybean protein was the most popular product segment in 2018. It is expected to continue its dominance throughout the forecast period. North America was the largest region market in 2018, but Asia Pacific is expected be the fastest-growing at a CAGR 11.4% during the forecast period.
The market share for non-GMO products was 53.9% in 2018. It is expected to continue its dominance during the forecast period. The segment will be driven by growing awareness of the negative effects of Genetically Modified crops (GM) and increased demand for non-GMO products. Non-GMO crops have also been boosted by restrictions in India and China on genetically modified soybean beans.
From 2019 to 2025, the organic segment will experience the fastest CAGR at 9.4%. This segment is driven by an increase in global demand for organic foods. The demand for organic food & beverages containing texture soy protein has increased due to the hectic work schedule. A rising health consciousness has also increased demand for additive- and preservative-free products.
The global market for food applications was the largest in 2018, and it is expected to grow at a 9.3% CAGR from 2019 to 2025. Because of the growing demand for vegetarian alternatives to meat, textured vegetable proteins are increasingly popular. This will fuel the segment's growth. Soya proteins are a good source of complementing and supplementary proteins. They help increase the solubility and water absorption as well as texture and anti-oxidation.
Soya also helps to prevent many chronic diseases such as hypertension, heart disease, certain cancers and diabetes. It is also a good source of major amino acid and helps maintain body function. It is therefore highly sought after in the food industry. The Feed segment will see a 8.5% CAGR over the forecast period. Because of its unique combination essential amino acid , soybean meal is widely used in poultry and livestock industries as a source of protein.
North America accounted for half the market share and was the largest region in 2018. Its growth is driven by the increasing vegan population and increased health awareness. Asia Pacific will experience the fastest CAGR, at 11.4%, over the forecast period. The region's market is growing due to an increase in soya beans production and a rising awareness of the health benefits associated with soya beans. China is the region's largest consumer. China accounted for more that 20% of the Asia Pacific market.
Global markets are highly competitive. To increase their market share, most companies have adopted business strategies such as mergers & acquisitions and product innovation. The following are some of the most prominent players in the market for textured soy proteins:
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
Up Market Research published a new report titled “Textured Soy Protein Market research report which is segmented by Application (Food, Feed), by Product Type (Organic, Conventional, Non-GMO), By Players/Companies Wilmar BioEthanol, SHANDONG YUXIN BIO-TECH CO LTD, Bunge, Cargill Inc, HOYA FOOD, CROWN SOYA PROTEIN GROUP, Archer Daniels Midland Company, Victoria Group, Bremil Group, Sonic Biochem”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Textured Soy Protein Market Research Report |
By Application | Food, Feed |
By Product Type | Organic, Conventional, Non-GMO |
By Companies | Wilmar BioEthanol, SHANDONG YUXIN BIO-TECH CO LTD, Bunge, Cargill Inc, HOYA FOOD, CROWN SOYA PROTEIN GROUP, Archer Daniels Midland Company, Victoria Group, Bremil Group, Sonic Biochem |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 201 |
Number of Tables & Figures | 141 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Food, Feed), by Product Type (Organic, Conventional, Non-GMO).
Textured Soy Protein Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Textured Soy Protein Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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