Textured Soy Protein Market 2019 : Huge Demand and Future Scope for Revenue by 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) is obtained from defatted soy flour, which is produced by grinding defatted soy flakes. Textured soy protein has substantial protein content and fiber with low fat. It is available in dried chunks, powder, or granular form in the market. It has a mild taste, but can be added to the meals to increase their protein content. Moreover, textured soy protein has a similar texture to beef and other meats, and thus are used as a substitute to meat products. In addition, in the view of the fact that plant-based food has less protein content as compared to animal food, textured soy protein is valuable for those consumers who do not consume meat. This fact has majorly drives the global textured soy protein market growth.

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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).

The global demand for textured soy protein is expected to increase, as consumers are limiting the consumption of meat due to increase in health concerns and rise in meat prices. Furthermore, upsurge in number of vegan consumers across the globe is a key factor that augments the growth of the global textured soy protein market.

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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.

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.

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Key Findings of the Textured Soy Protein Market:

By nature, the conventional segment accounted for the highest textured soy protein share in 2018, growing at a CAGR of 8.3% from 2019 to 2026.
On the basis of application, the food & beverages industry segment accounted for about 89.3% of the textured soy protein market share in 2018, and is expected to experience growth at the highest CAGR of 8.5%.
Region wise, North America accounted for about 36.6% of share in 2018, and is expected to grow at a CAGR of 8.3% during the forecast period.

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

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