Press release
Textured Soy Protein Market 2022 Industry Analysis by Future Trends, Top Players, Size, Share, Opportunities, Revenue and Growth Rate Through 2027
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What is the projected market size & growth rate of the textured soy protein market?
The global textured soy protein market reached a value of US$ 1.57 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.68 Billion by 2027, exhibiting a growth rate (CAGR) of 9.05% during 2022-2027.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is textured soy protein?
Textured soy protein is processed from a defatted soy flour mixture and used as a meat extender. It is utilized for adding unique texture and mild flavor to plant-based chili mixes, sauces, and veggie burgers. It is also substituted for meatloaf, sloppy joes, chili, tacos, and seafood. It is rich in folate, low in calories, and contains numerous essential nutrients, including copper, fiber, magnesium, and thiamin. Nowadays, textured soy protein is widely available in flavored and unflavored varieties and various sizes, from large chunks to small flakes.
What are the major drivers for the textured soy protein market?
The market is primarily driven by the rising awareness about the health benefits offered by textured soy protein, such as wound healing, muscle growth, and tissue repair while lowering cholesterol and triglyceride levels. In addition, the rising awareness among individuals about these benefits and shifting consumer inclination toward vegetarian and vegan products represent another growth-inducing factor. Besides this, textured soy protein as a meat extender is economically more viable than other protein products.
Due to this and rising health consciousness among individuals, there has been growing uptake of meat substitutes. Moreover, the addition of textured soy protein to cereals, baked potatoes, healthy bars, stuffing, and salads as a protein additive, introduction of non-genetically modified organisms (non-GMO) and gluten-free variants, and easy availability of these products through online platforms are further propelling the market growth.
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Report Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global textured soy protein market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on region, nature, source and application.
Breakup by Nature:
• Organic
• Conventional
• Non-GMO
Breakup by Source:
• Soy Protein Concentrates
• Soy Protein Isolates
• Soy Flour
Breakup by Application:
• Food
• Feed
Breakup By Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
List of Major Key Players:
• Archer-Daniels-Midland Company
• Bob's Red Mill Natural Foods
• Bunge Limited
• Cargill Incorporated
• CHS Inc.
• Crown Soya Protein Group Company
• International Flavors & Fragrances Inc.
• Fuji Oil Holdings Inc.
• Shandong Yuxin Biotechnology Co. Ltd.
• Sonic Biochem Extraction Pvt Ltd
• Wilmar International Limited.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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