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2019
Textured Soy Protein Market

Textured Soy Protein Market

by Nature (Organic, Conventional, and Non-GMO) and Application (Food & Beverages Industry and Feed Industry): Global Opportunity Analysis and Industry Forecast, 2019-2026
Update Available On-Demand

Report Code: A05765
Pages: 210
Oct 2019 | 8340 Views
Author(s) : Abel T , Roshan D
Tables: 94
Charts: 45
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Textured Soy Protein Market Outlook - 2026

The global textured soy protein market size was valued at $1.1 billion in 2018, and is projected to reach $2.1 billion by 2026, registering a CAGR of 8.7% from 2019 to 2026. Textured soy protein (TSP), also known as textured vegetable protein, is produced from defatted soy flour. The defatted soy flour is made by grounding defatted soy flakes, which are obtain by extracting oil from soybeans. Textured soy protein is used as a meat analog or extender, which high protein content. The textured soy protein is available in dried, granular form in the market. It has a similar texture to beef meat or other meat products. Textured soy protein should be rehydrated in boiling water before use.

Consumers have limited the consumption of meat in their diet, due to increase in health concerns. This has shifted their preference toward plant-based proteins, which serve as ideal alternatives to meat products. This factor is anticipated to boost the demand for textured soy protein, which will fuel the growth of the global textured soy protein market in the forthcoming years. Moreover, increase in animal welfare and environmental awareness encourages consumers to seek for plant-based products to ensure animal well-being, which significantly contributes toward the growth of the global market. 

Textured Soy Protein Market

In addition, textured soy protein as meat extender is considered to be economically more feasible as compared to other protein products, which fosters the textured soy protein market expansion. However, the availability of variety of other plant-based proteins such as chickpeas, chia, fava beans, and quinoa is anticipated to hamper the textured soy protein market growth. 

Soy has been gaining high traction from various sectors in the food & beverages industry. However, in the past couple of years, the demand for various other types of plant-based proteins such as fava beans, chickpeas, chia, and quinoa has increased significantly, due to rise in number of vegan population. These plant-based proteins comprise of the same nutritional value as that of textured soy protein. As a result, these proteins pose as a potential threat to the global market.

Lactose intolerance is a clinical syndrome that occurs when the inability to digest lactose (sugar present in milk) results in gastrointestinal symptoms. Overall, nearly 70% of the global population experiences some or the other form of lactose deficiency. However, the deficiency rate among consumers differ according to regions. For instance, Northern Europe has lower rates of lactose deficiency, whereas in Asia, the lactose deficiency rates are as high as 60%. As a solution to this intolerance, consumers rely on lactose-free products for consumption. Thus, textured soy protein serve as an ideal substitute to dairy products, which sights immense opportunity in gaining traction among the lactose-intolerant consumers.

The global textured soy protein market is segmented into nature, application, and region. On the basis of nature, the market is classified into organic, conventional, and non-GMO. The applications covered in the study include food & beverages industry and feed industry. Region wise, the textured soy protein market market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, Spain, UK, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).

Depending on nature, the conventional segment leads in terms of global textured soy protein market share in 2018. This is attributed to low price of conventional textured soy proteins as compared to organic textured soy protein.  

Textured Soy Protein Market
By Nature

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The conventional segment dominates the global Textured Soy Protein market and is expected to retain its dominance throughout the forecast period.

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By application, the food & beverages industry segment dominated the global market in 2018, due to increase in number of vegan consumers who seek for plant-based proteins that can substitute meat products .This encourages manufacturers in the food & beverages industry to produce products that contain texturized soy proteins.

Textured Soy Protein Market
By Application

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The feed industry segment dominates the global Textured Soy Protein market and is expected to retain its dominance throughout the forecast period.

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Region wise, North America was the largest textured soy protein market in 2018, due to rise of vegan population from1% to 6% between 2013 and 2016. Moreover, plant-based food has a significant impact on the medical sector, as a number of hospitals are adding vegan meals in their menu over processed meat products.

Textured Soy Protein Market
By Region

2026
North America 
Europe
Asia-pacific
Lamea

The North America dominates the global Textured Soy Protein market and is expected to retain its dominance throughout the forecast period.

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The global market is analyzed based on its prospect and future growth rate. The report highlights numerous factors that influence the growth of the global textured soy protein market. These include market forecast, drivers, restraints, opportunities, and role of different key players operating in the market.

The major players operating in the global textured soy protein industry analyzed in this report include DuPont ,Archer Daniels Midland Company, Cargill, Incorporated., CHS INC, Kellog Company, Wilmar International Ltd, Bob’s Red Mill Natural Foods., Gushen Biological Technology Group Co., Ltd, Pacific Soybean & Grain, and Gremount International Company Limited.

Key Benefits for Textured Soy Protein Market:

  • This report provides a quantitative analysis of the current textured soy protein market trends, estimations, and dynamics of the global market size from 2019 to 2026 to identify the prevailing opportunity.
  • The key countries in all the major regions are mapped based on their market share.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • Textured soy protein market forecast is offered along with information related to key drivers, restraints, and trends. 
  • An in-depth analysis of the global market helps determine the prevailing market opportunities.
  • The report includes details of the textured soy protein market analysis at the regional and global level, key players, market segments, application areas, and growth strategies.

Textured Soy Protein Market Report Highlights

Aspects Details
By Nature
  • Organic
  • Conventional
  • Non-GMO
By Application
  • Food & Beverages Industry
  • Feed Industry
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, India, Australia, New Zealand, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Archer-Daniels-Midland Company (ADM), Bob’s Red Mill Natural Foods., BRF Ingredients, Cargill Inc., CHS Inc., DuPont, Food Ingredient Technology Co., Ltd., FUJI OIL ASIA PTE. LTD., Kellogg Company, Wilmar International Ltd
 

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Over the past couple of years, increase in preference for plant-based diet, healthy snacking, and rise in need for protein intake are the three amplifying trends in the food & beverage industry. In addition, rise in trend of adopting vegan diet among consumers across the globe due to increase in consumer awareness about the health benefits associated with the consumption of plant-based proteins is one of the key factors that drive the growth of the global textured soy protein market

Major players operating in the global textured soy protein market are adopting key developmental strategies such as business expansion and acquisition to fuel the growth of the market. In addition, they have emphasized on formulation of new products and continuous innovation to strengthen their foothold in the market. 

Moreover, upsurge in demand for non-GMO textured soy protein among consumers has encouraged the manufacturers to invest in the production of non-GMO high soy protein crushing facility to meet consumers demand for non-GMO soy protein.

Formulation challenges for textured soy protein products and potential threat of substitution are the two major factors that are anticipated to hamper the growth of the textured soy protein market in the near future.
 

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FREQUENTLY ASKED QUESTIONS?

A. The forecast period of Textured Soy Protein market report is from 2019 to 2026.

A. The global textured soy protein market was valued at $ 1.1 billion in 2019

A. The report covers detailed profiling of key companies operating in the market including Archer Daniels Midland Company, Bob’s Red Mill Natural Foods, BRF Ingredients, Cargill Incorporated., CHS Inc., DuPont, Food Ingredient Technology, FUJI OIL ASIA PTE. LTD, Kellog Company, and Wilmar International Ltd.

A. Top companies holding significant market share are Archer Daniels Midland Company, Cargill Incorporated., CHS Inc., DuPont, and Wilmar International Ltd.

A. The organic segment of the report is expected to growth at a healthy CAGR during the forecast period

A. Rise in number of vegan population and surge in demand for textured soy protein from the feed industry are significant factors that propel the growth of Textured Soy Protein market.

A. Organic and non-GMO textured Soy Protein products are currently trending in Textured Soy Protein market.

A. Conventional segment of the report hold maximum market share in 2019.

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