Market Trends of Global Textured Soy Protein Industry
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.
