Fact has just issued a new industry report on the textured soy protein market. Global sales of textured soy protein are currently valued at US$ 880 million, according to Fact.MR, and are predicted to grow at a CAGR of 6.4 percent to reach US$ 1.6 billion by 2031.
The protein content and essential muscle-building qualities of textured vegetable protein range from 50 to 85 percent in terms of concentration. When compared to other protein sources, textured vegetable protein stands out since it is environmentally sustainable.
Due to increased demand from various end-use industries such as dairy substitutes, baking, and others, the market is also growing at a strong rate.
Market Segments Covered in Textured Soy Protein Industry Research
By Product Type
- Soy Protein Concentrates
- Soy Protein Isolates
- Organic Textured Soy Protein
- Conventional Textured Soy Protein
- Dry Textured Soy Protein
- Liquid Textured Soy Protein
- Meat Substitutes
- Dairy Alternatives
- Infant Nutrition
- Bakery Products
- Cereals & Snacks
- Animal Feed
- Other Applications
Environment of Competition
The global market is characterised by the presence of multinational businesses such as ADM, DuPont, and others. Local and regional firms, in contrast to global manufacturers, are concentrating on developing their distribution channels in the local market. Regional players are also striving to broaden their worldwide influence. Established players, on the other hand, are boosting their positions by acquiring local talents. As a result, the global market is extremely competitive.
Takeaways from the Market Research
In 2021, the United States is expected to account for more than 90% of the North American market, owing to expanding veganism.
In 2021, China is expected to account for more than 45 percent of the East Asian market share, owing to an influx of new companies.
Germany is a high-potential market in Europe, with a value share of over 16 percent, thanks to the popularity of plant-based protein.
On the back of expanding research and development, the granules form of textured soy protein will dominate about 32% of the market in 2021.
Because of their low cost and use in newborn nutrition and bakery items, soy protein isolates will account for roughly 59 percent of the market in 2021.