Market Size of Global Textured Soy Protein Industry
| 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.
