Textured Soy Protein Market Comprehensive Analysis 2019 | Size, Share, Trends, Current Scenario, Future Strategic Planning and Forecast 2023

Market Insight

Global Textured Soy Protein Market is presumed to experience a healthy CAGR during the forecast period (2018-2023) owing to health issues such as diabetes and cholesterol, asserts Market Research Future (MRFR). Also known as textured vegetable protein, textured soy protein is a defatted product made out of soy concentrates, soy flour, and soy protein isolates. Textured soy protein comprises 52% protein on a dry basis and is considered as a meat extender or meat analogue. It is a vegetable protein which is processed from soya beans and is available in fibrous form.

Drivers and Constraints Impacting the Market

Textured soy protein market is expanding at a rapid pace due to high consumption of meat alternatives and plant sources protein with several nutrients and essential amino acids. Rising health issues such as diabetes and cholesterol have increased the demand for textured soy protein as they contain low fat and offer a healthy diet. With increasing vegan consumers across the world, meat alternatives are becoming are a priority as they are low-fat diet and deliver similar nutrition as compared to meat and its products. The increasing demand for healthier diet which comprises high carbohydrate content and limited fat has further stimulated the growth of the market. Moreover, low priced source of protein and high nutritional value of soy are further boosting the market growth.

On the flip side, strict mandates by the government for genetically modified crops are considered to retard the market growth during the appraisal period. Moreover, more R&D needs to be done for textured soy products in order to become a complete meat substitute both in terms of nutrition and taste, which is considered to inhibit the market growth.

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Key Players

The prominent players operating the Global Textured Soy Protein Market are Linyi Shansong Biological Products Co. Ltd. (China), Hung Yang Foods Co., Ltd. (Netherlands), Sonic Biochem Extractions Ltd. (India), Shandong Yuxin Bio-Tech Co. Ltd. (China), Wilmar International Ltd. (Singapore), Crown Soya Protein Group (China), Archer-Daniels-Midland Co. (US), Victoria Group (Serbia), Bremil Group (Brazil), Dow DuPont (US) and Cargill Inc. (US)

Industry Updates

December 10, 2018: A US brand, Loma Linda is all set to launch a raft of innovative new plant-based products in the UK. The range of products include globally inspired recipes such as Tikka Masala, Spicy Pad Thai, Hearty Stew, and Chipotle Bowl. The brand is also launching tuna alternative termed as Tuno into the market in cans and on-the-go pouches.

Industry Segment

The global Textured Soy Protein Market has been segmented on the basis of form, type, application, and region.

By mode of type, the global textured soy protein market has been segmented into organic and conventional. Among these, the organic soy protein segment is considered to demonstrate the fastest growth rate during the assessment period. With the busy schedules of the consumers, there has been an increasing demand for organic food and beverage products comprising textured soy protein. Moreover, manufacturers in this region are focusing on product innovation to meet the increasing demand, thereby fostering the market growth.

By mode of form, the global textured soy protein market has been segmented into soy protein isolates, soy protein concentrates, and soy flour. Among these, the soy protein concentrates segment is widely used as nutritional and functional ingredients in several food products such as breakfast cereals, baked products, and meat products. They are extensively used in meat and poultry products in order to increase fat and water retention and improve the nutritional value of the food.

By mode of application, the global textured soy protein market has been segmented into dairy alternatives, meat substitutes, bakery products, infant nutrition, cereals & snacks, and feed.

Regional Insights

Geographically, the Textured Soy Protein Market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.

Among all the regions, North America is considered to lead the global market in the production of soybean as most of the soybean produce is crushed to extract oil. Economies such as Brazil, the U.S., and Argentina account for more than 90% of the world export of soybeans, soybean oil, and soybean meal. Also, vegan consumers are likely to increase in the U.S. where people are seeking protein source in place of animals, which is further driving the market in this region.

The Europe region is presumed to be a steady market for textured soy proteins due to the shift towards healthier eating habits. On the other hand, Asia-Pacific is seen to register the fastest growth rate for textured soy proteins owing to the ever-increasing population, rising per capita disposable income, and globalization of eating trends in the developing economies.

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