According to a recent report by Fact.MR, a market research and competitive intelligence provider, demand for textured soy protein will surpass a valuation of US$ 880 Bn in 2021, and is set to rise at a CAGR of around 6.4% through the end of 2031.
Global demand for textured soy protein is soaring due to increasing preference for texture and nutritional content in food products. Also, its low-calorie level and high fiber content are supporting demand growth across the globe.
Textured soy protein is growing in popularity amongst dieters since it is a source of high-quality, low-fat, and plant-based protein that may reduce appetite by increasing satiety. The protein content aids in building muscles and reducing body fat. This attracts fitness freaks and gym savvy millennial population to consume plant-based protein supplements instead of animal-sourced protein products.
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Key Takeaways from Market Study
- The U.S. is estimated to account for more than 90% of the North American market in 2021, supported by rising veganism.
- China is estimated to account for more than 45% of the East Asian market share in 2021, supported by increase in new players in the country.
- Germany is a high potential market in Europe, accounting for over 16% value share, supported by popularity of the plant-based protein trend.
- Granules form of textured soy protein will hold nearly 32% of the market in 2021, on the back of rising research & development.
- Soy protein isolates reflect around 59% of the market in 2021, owing to their low cost and application in infant nutrition and bakery products.
“With wide acceptance of textured soy protein, manufacturers are focusing on extending their product portfolios and entering new markets,” says a lead analyst at Fact.MR.
Market Segments Covered in Textured Soy Protein Industry Research
- By Product Type
- Soy Protein Concentrates
- Soy Protein Isolates
- By Nature
- Organic Textured Soy Protein
- Conventional Textured Soy Protein
- By Form
- Dry Textured Soy Protein
- Liquid Textured Soy Protein
- By Application
- Meat Substitutes
- Dairy Alternatives
- Infant Nutrition
- Bakery Products
- Cereals & Snacks
- Animal Feed
- Other Applications
Presence of multinational players such as ADM, DuPont, and others characterizes the global market. In comparison to global manufacturers, local and regional players are focusing on strengthening their distribution channel in the local market Furthermore, regional players are attempting to expand their global influence. On the other hand, established players are bolstering their positions by acquiring local players. This making the global market a highly competitive space.
Fact.MR has provided detailed information about price points of textured soy protein of manufacturers positioned across regions, sales growth, production capacity, and speculative production expansion in the recently published report.
- CHS Inc., Ultra-Soy® textured vegetable proteins are certified Kosher Pareve under the supervision of the Union of Orthodox Jewish Congregations of America, and Halal under the supervision of the Islamic Food and Nutrition Council of America (IFANCA).
Similar, recent developments related to companies offering textured soy protein have been tracked by the team at Fact.MR, which are available in the full report.