The Asia Pacific Textured Vegetable Protein Market would witness market growth of 7.0% CAGR during the forecast period (2022-2028).
When seasoning, spices, or herbs are added, textured vegetable protein (TVP), can be utilized as a meat alternative. Since plant-based meals typically contain less protein than foods derived from animals, it is especially beneficial for people who don't eat meat. For those who do consume meat, the product may also be utilized as a meat extender.
Textured soy protein has very little fat and a lot of protein and fiber. It can be purchased in the form of dried chunks, flakes, slices, granules, or powder, however, it must first be moistened before usage. Although the product itself has a moderate flavor, it rapidly takes on the flavor of the liquid in which it is cooked or steeped. It works nicely in a variety of dishes that ordinarily feature ground beef or bits of meat, including lasagna, chili, veggie burgers, tacos, and "meat" pies.’
The COVID-19 pandemic's increased health consciousness has highlighted the negative health effects of animal proteins and increased consumer demand for plant-based protein products. Also, the prevalence of ailments such as the bird flu is giving India's plant-based protein business an additional boost. The expansion of the textured vegetable protein market in India has been further aided by the country's stable economic situation & changing lifestyle of the populace, which have raised the nutrition and health sectors to the fore.
The China market dominated the Asia Pacific Textured Vegetable Protein Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $165.4 million by 2028. The Japan market is estimated to grow a CAGR of 6.2% during (2022 - 2028). Additionally, The India market would experience a CAGR of 7.5% during (2022 - 2028).
Based on Application, the market is segmented into Meat Alternatives, Cereals & Snacks, and Other Applications. Based on Type, the market is segmented into Slices, Flakes, Granules, and Chunks. Based on Source, the market is segmented into Soy, Wheat, and Pea. Based on Form, the market is segmented into Dry and Wet. Based on Nature, the market is segmented into Conventional and Organic. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Textured Vegetable Protein Market is Projected to reach USD 2 Billion by 2028, at a CAGR of 6.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cargill Corporation, Archer Daniels Midland Company, Kansas Protein Foods, Ingredion, Incorporated, Koninklijke DSM N.V., Roquette Frères SA, The Scoular Company, Foodchem International Corporation, BENEO GmbH (Südzucker AG), and Axiom Foods, Inc.
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