Soy is Projected to Account for the Largest Share in the Textured Vegetable Protein Market

The global textured vegetable protein market size is estimated to be valued at USD 1.1 billion in 2020 and is projected to reach USD 1.5 billion by 2025, recording a CAGR of 6.2% during the forecast period. The demand for textured vegetable protein has been increasing significantly, as they are used across various food and beverage applications such as meat alternatives and have been high in demand among the vegan and vegetarian consumers.

Download PDF Brochure

By source, the soy segment is projected to account for the largest share in the textured vegetable protein market during the forecast period.Soy has been a low-calorie and low-fat source of vegetable protein. It is often used as a meat substitute or meat extender due to its low cost as compared to animal-based sources of protein. 

Moreover, when textured soy protein is cooked with meat, it aids in retaining more nutrients from the meat by absorbing fluids that are usually lost. Textured soy protein acts as an ideal substitute for meat and is gaining higher traction among vegan and flexitarian consumers. These characteristics are majorly driving the demand for the usage of soy as a prime source for textured vegetable protein.

Asia Pacific is projected to account for the faster-growing market with CAGR of 7.8% during the forecast period. The textured vegetable protein market in this region is estimated to witness robust growth propelled by the economic developments of countries such as China, India, Japan, and Australia. The shift of industrialization and investments in Asia Pacific regions has grown substantially over the past decade, especially in China, which contributes to rapid economic growth. 

Therefore, several key market players in the region such as Wilmar International (Singapore), Fuji Oil Co. (Japan), Sun NutraFoods (India), Shandong Yuxin Soybean Protein (China), and Crown Soya Protein Group (China) have been emphasizing on developments to provide a large product portfolio in textured vegetable protein. The region also hosts a strong agricultural production base, which is a key factor in the production of vegetable-sourced protein.

Comments

Post a Comment

Popular posts from this blog

Global Bottled Water Processing Market: Key Trends and Insights by 2028

A recent research report by MarketsandMarkets titled " Bottled Water Processing Market " provides valuable insights into the dynamics of the bottled water industry. The study covers both the bottled water market and the bottled water equipment market, forecasting significant growth in both segments. Here are key highlights from the report: Download PDF Brochure Bottled Water Market Overview: The bottled water market is projected to reach USD 457.1 billion by 2028, exhibiting a CAGR of 8.0% from 2023. This growth is attributed to the rising demand in emerging markets where limited access to safe drinking water is a challenge. The global population increase also contributes to the surge in demand for clean and safe drinking water, emphasizing the pivotal role of bottled water processing in providing accessible hydration solutions. Product Type Insights: The report highlights that still water dominates the market, accounting for the largest share in 2022 in terms of value. This
Read more

Growth Trends and Opportunities in the Global Edible Oils Market

The global edible oils industry is on track to reach USD 268.9 billion by 2027, marking a significant increase from USD 212.6 billion in 2022, with a projected compound annual growth rate (CAGR) of 4.8% between 2022 and 2027. This growth is primarily fueled by the rising global population, coupled with shifts in lifestyle preferences towards processed foods, where edible oils play a crucial role as primary ingredients. Furthermore, ongoing advancements in food processing, including the development of novel products such as confectionery, bakery items, ready-to-eat foods, and fast foods, are driving substantial demand for edible oils. Download PDF Brochure      Soybean oils emerge as the fastest-growing segment in the global edible oils market , anticipated to experience a robust CAGR of 5.4% during the forecast period. With concerns regarding food costs and climate change's impact on food supplies, soy products, particularly soybean oil, are gaining traction. Soybean oil's neu
Read more

Transformative Growth Projected for Global Seed Coating Market: A Comprehensive Overview

In 2023, the global seed coating market , valued at USD 2.0 billion, is positioned for remarkable expansion, anticipated to reach USD 3.1 billion by 2028 with a robust CAGR of 8.5%, as reported by MarketsandMarkets. This agri-tech innovation is reshaping agriculture by enhancing seed germination, seedling vigor, and overall crop yields. Download PDF Brochure Advancements in Liquid Seed Coatings: A Cornerstone of Modern Agriculture Liquid seed coatings, applied across diverse crops such as corn, soybeans, wheat, rice, vegetables, and flowers, are indispensable tools in modern agriculture. Croda International Plc's FS formulations are gaining prominence due to their concentrated nature, water-based composition, and enhanced safety during application, marking a revolutionary shift in seed treatment practices. Cereal and Grains Segment Driving Adoption The cereal and grains segment, emphasized by the Food and Agriculture Organization (FAO), plays a pivotal role in the increasing adopti
Read more