The Global Textured Vegetable Protein Market size is expected to reach $2 billion by 2028, rising at a market growth of 6.5% CAGR during the forecast period.
Vegetable proteins, sometimes known as veggie proteins, are supplements made from plant sources. Soy, peas, & lentils are just a few examples of these sources. The most popular source of plant proteins is soy. This has traditionally served as the primary source of vegetable protein, coming in powdered, granulated, and textured forms for usage in a variety of applications and end-use markets. Many businesses use vegetable proteins because of their nutritive value and textural qualities.
The modern consumer prefers vegetable protein over animal-supplied proteins because it offers the same nutritional profile as a diet high in complete proteins without the drawback of animal cruelty that is present in typical animal-derived proteins. A sizeable portion of the population in western nations has switched to a diet with less meat intake and is now demanding nutritious and delectable meat-free food items.
Food manufacturers are putting more emphasis on vegetable proteins including pulses, soy protein, and wheat gluten which are processed into meat-like products known as meat analogues, as a result of changes in consumer consumption patterns. The texture, flavor, color, and nutritional properties of particular types of meat are only a few of the aesthetic aspects that these goods imitate.
The market is anticipated to grow as aquaculture firms' need for soy protein isolates rises. Textured soy protein is high in demand and is used in feed. Livestock producers have identified the health advantages of including textured soy protein isolates in animal diets, which is anticipated to increase soy protein isolate sales. In a world where population and food scarcity are growing, aquaculture manufacturers are looking for more effective & long-term solutions to raise healthy species to fulfill escalating market requirements.
The demand for textured vegetable protein supplements, which support the body's overall health and optimal performance by supplying necessary nutrients, is anticipated to rise as a result. Human tissues and cells need protein derived from plants to develop and repair. Along with serving as the basis for strong muscles and tissues, plant protein helps people lose weight. It is generally known how nutrition affects the immune system. Recent studies have highlighted the necessity of consuming enough amounts of specific nutrients, such as protein in COVID-19, elevating the significance of consuming textured soy protein.
Vegetable protein is crucial product for a vegan or in vegetarian diet. People frequently turn to vegetable protein supplements to attain the necessary nutritional profile that would arise from a purely vegan diet. As the number of vegans grows, more businesses are attempting to adapt to the evolving food scene and are introducing more goods with vegetable protein to the market. Thus, it is anticipated that the textured vegetable protein market will be driven by the rising vegan and flexitarian populations throughout the forecast period.
Soy, wheat, and pea are the conventional sources of obtaining textured vegetable protein. Other sources, like rice lentils, fava, oats, and chia seeds, have been investigated by manufacturers. Plant-based protein, as well as a number of other vitamins and minerals, are abundant in fava. They include a lot of soluble fiber, which can help with digestion and decrease cholesterol. High-protein, edible pulses that grow in pods include lentils. In various regions across the globe, they have been offered for sale.
The shifting tastes of consumers have spurred the need for meat alternatives and raised the requirement for textured soy protein, reducing the usage of animal proteins in food items. The flavor of soy components, which is attributed to the lipoxygenase enzyme's action on soybean oil, is one of the main reasons why soy products have been used less frequently in western nations such as the US, UK, and Germany. The lipoxygenase breaks down the soy oil during the hydration and milling process into other compounds, including hexanal. The flavors of these compounds are unpleasant.
Based on type, the textured vegetable protein market is segmented into chunks, flakes, slices, and granules. In 2021, the flakes segment acquired a significant revenue share in the textured vegetable protein market. Flakes are low in fat and high in protein. They keep the body's vital amino acid balance in check, which is necessary for the growth of muscles, connective tissues, and enzymes. They are proteins in their most basic form.
On the basis of application, the textured vegetable protein market is fragmented into meat alternatives, cereals & snacks and other applications. The meat alternative segment held the maximum revenue share in the textured vegetable protein market in 2021. Textured vegetable proteins can be used as a meat extender and are less expensive than most meats, which helps save money.
By source, the textured vegetable protein market is divided into soy, wheat and pea. The soy segment led the textured vegetable protein market with the highest revenue share in 2021. Soy products are becoming more prevalent in the food service sector as a result of the soy protein's well-known health and nutritional benefits as well as the additional advantages of its low moisture and low-fat content.
Based on form, the textured vegetable protein market is classified into dry and wet. The wet segment procured a substantial revenue share in the textured vegetable protein market in 2021. This segment mainly includes protein shakes and other protein drinks. The protein shakes are in high demand due to the convenience to consume these shakes coupled with the active lifestyle of people nowadays.
By nature, the textured vegetable protein market is bifurcated into organic & conventional. In 2021, the conventional segment witnessed the highest revenue share in the textured vegetable protein market. Conventional TVP (textured vegetable protein) is less expensive than most meats and can be used as an extender with fresh meat to save money.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 1.3 Billion |
| Market size forecast in 2028 | USD 2 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 6.5% from 2022 to 2028 |
| Number of Pages | 277 |
| Number of Tables | 524 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Source, Form, Nature, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the textured vegetable protein market is analyzed across North America, Europe, Asia Pacific & LAMEA. In 2021, the North America region held the highest revenue share in the textured vegetable protein market. In response to shifting customer preferences in the region, major ingredient producers like DuPont, Cargill, ADM, and CHS have been enhancing their product development capabilities. As a result of the availability of numerous current and future processing facilities in Canada, it has been among the world's largest producers of peas for textured pea protein.
Free Valuable Insights: Global Textured Vegetable Protein Market size to reach USD 2 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Koninklijke DSM N.V. and Archer Daniels Midland Company are the forerunners in the Textured Vegetable Protein Market. Companies such as Ingredion, Incorporated, Roquette Frères SA, BENEO GmbH (Südzucker AG) are some of the key innovators in Textured Vegetable Protein Market.
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.
By Application
By Type
By Source
By Form
By Nature
By Geography
The Textured Vegetable Protein Market size is projected to reach USD 2 billion by 2028.
Emerging Trend Of Vegan Diet Among Consumers Across The World are driving the market in coming years, however, The Awful Flavor Of Soy restraints the growth of the market.
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.
The expected CAGR of the Textured Vegetable Protein Market is 6.5% from 2022 to 2028.
The Slices segment acquired maximum revenue share in the Global Textured Vegetable Protein Market by Type in 2021 thereby, achieving a market value of $734.7 million by 2028.
The North America market dominated the Global Textured Vegetable Protein Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $668.4 million by 2028.
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