Textured Soy Protein Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 7.54 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Textured Soy Protein Market Analysis
Global textured soy protein market is projected to grow at a CAGR of 7.54% during the forecast period (2021 -2026).
- Increasing demand for protein-rich food among the consumers is expected to drive the market for textured soy protein. Consumers are opting for low-carb and low-fat foods pertaining to increasing health awareness, which is further boosting the market demand. Textured soy protein is ideal meat substitute in spaghetti sauce, peppers, tacos and hamburgers.
- It can be used in meat dishes as an additive to meat dishes. It is commonly used in the cafeteria of institutions that do not have sufficient financial resources, such as schools and prisons. For instance, In January 2018, Canadian Bio-Systems Inc. (CBS Inc.) launched Feed Check Soy at the International Production and Processing Expo in Atlanta, Ga. It is a new tool that allows fast, on-site analysis of soybean meal quality. DuPont Nutrition and Health has also launched Sapporo XT55, a specialty soy protein, a new product in the textured soy protein market.
- Over 60% of consumers in the market have become more conscious about their overall health as a result of COVID-19, with 80% also looking to actively improve the latter by consuming more protein, vitamin, mineral rich products, thus, contributing towards the market growth of textured soy protein.
Textured Soy Protein Market Trends
This section covers the major market trends shaping the Textured Soy Protein Market according to our research experts:
Non-GMO Textured Soy Protein to gain Prominence
The high nutritional value of soy makes it preferred alternative for meat and dairy products, and its high consumption among the growing health-conscious population. Further, non-GMO textured soy proteins are high protein products that are also rich in dietary fibres, minerals, contain no cholesterol, lactose, or casein, and are free from microbiological contamination. The demand for this soy protein is increasing rapidly, with more people becoming health conscious and demanding clean label products. Moreover, increasing awareness about the harmful effects of genetically modified crops are fuelling the demand for non-GMO products like textured soy protein. Moreover, restrictions on genetically modified soya beans in India, China, and other countries have fuelled the demand for non-GMO textured soy protein across the globe.
North America is the Largest Market
North America is anticipated to dominate the global textured soy protein market owing to the high demand for a vegan diet with similar nutrition and healthier ingredients as compared to meat and meat products. The market for textured soy protein is growing at a fast rate, owing to change in lifestyle, lack of balanced dietary intake, and improved R&D, to develop new kinds of textured plant-protein enriched products. The United States occupied the largest market share, followed by Canada and Mexico. The demand for processed and low cholesterol foods have paved the way for the textured soy protein market, in the region. Increasing per capita disposable income and a healthier lifestyle will facilitate textured soy protein production in the region. Moreover, there is an increasing demand for high protein and meat substitute products amongst vegan and vegetarian consumers in North America which is further boosting the market demand.
Textured Soy Protein Industry Overview
A large number of players drive the global textured soy protein market. At present, there are numerous active players in this industry, such as Cargill, DuPont, and ADM. The leading companies focus on the expansion of their plant protein business, in the local and international markets. Certain players have been expanding their geographical presence by acquiring or merging with the manufacturers in the international markets.
Textured Soy Protein Market Leaders
DuPont de Nemours, Inc.
Cargill, Incorporated
Wilmar International Limited
Victoria Group
Crown Soya Protein Group
*Disclaimer: Major Players sorted in no particular order
Textured Soy Protein Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.3 Market Restraints
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Conventional
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5.1.2 Organic
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5.2 By Application
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5.2.1 Food and Beverages
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5.2.1.1 Meat Substitutes
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5.2.1.2 Dairy Alternatives
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5.2.1.3 Infant Nutrition
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5.2.1.4 Bakery Products
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5.2.1.5 Cereal & Snacks
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5.2.1.6 Other Food Applications
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5.2.2 Animal Feed
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5.3 By Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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5.3.1.4 Rest of North America
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5.3.2 Europe
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5.3.2.1 Germany
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5.3.2.2 United Kingdom
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5.3.2.3 France
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5.3.2.4 Italy
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5.3.2.5 Spain
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5.3.2.6 Rest of Europe
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5.3.3 Asia Pacific
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5.3.3.1 India
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5.3.3.2 China
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5.3.3.3 Japan
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5.3.3.4 Australia
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5.3.3.5 Rest of Asia-Pacific
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East & Africa
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5.3.5.1 South Africa
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5.3.5.2 Saudi Arabia
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5.3.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Strategies Adopted By Leading Players
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6.2 Market Share Analysis
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6.3 Company Profiles
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6.3.1 The Archer-Daniels-Midland Company
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6.3.2 Cargill, Incorporated
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6.3.3 DuPont de Nemours, Inc.
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6.3.4 Wilmar International Limited
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6.3.5 Victoria Group
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6.3.6 Crown Soya Protein Group
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6.3.7 Bremil Group
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6.3.8 Hoya Food
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6.3.9 Sonic Biochem
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. IMPACT OF COVID-19 ON THE MARKET
Textured Soy Protein Industry Segmentation
Global textured soy protein market is segmented by type, application, an geography. The market by type is segmented into conventional and organic. The market by application is segmented into food and beverages and animal feed. The report on the global textured soy protein market (henceforth, referred to as the market studied) offers key insights into the latest market developments. It analyses recent trends, opportunities, drivers, and challenges affecting the textured soy protein market across the globe.
Textured Soy Protein Market Research FAQs
What is the current Global Textured Soy Protein Market size?
The Global Textured Soy Protein Market is projected to register a CAGR of 7.54% during the forecast period (2024-2029)
Who are the key players in Global Textured Soy Protein Market?
DuPont de Nemours, Inc., Cargill, Incorporated, Wilmar International Limited , Victoria Group and Crown Soya Protein Group are the major companies operating in the Global Textured Soy Protein Market.
Which is the fastest growing region in Global Textured Soy Protein Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Textured Soy Protein Market?
In 2024, the North America accounts for the largest market share in Global Textured Soy Protein Market.
What years does this Global Textured Soy Protein Market cover?
The report covers the Global Textured Soy Protein Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Textured Soy Protein Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Textured Soy Protein Industry Report
Statistics for the 2024 Textured Soy Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Textured Soy Protein analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.