Texturized Vegetable Protein Market Analysis Growth Challenges, Opportunities and Future Developments to 2029

The latest market report published by Transparency Market Research on the texturized vegetable protein market includes global industry analysis and opportunity assessment for 2019-2029. Revenue generated from the global texturized vegetable protein market is estimated to be valued at ~US$ 1.1 Bn in 2019, which is projected to grow at a CAGR of ~6%, to reach US$ 2 Bn by 2029.

Demand for Vegan and High-protein Ingredients to Drive Adoption of Texturized Vegetable Protein

Among consumers, there is an increase in health consciousness, consumption of guilt-free food, and orientation toward environment protection. Vegan foods and flexitarian diets have gained considerable traction in the market. Consumers are increasingly opting for plant-based products, such as texturized vegetable protein, seitan, and others. Texturized vegetable protein satiate consumer demand for gluten-free, vegan, and high-protein food products.

𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.transparencymarketresearch.com/texturized-vegetable-protein-market.html

Increasing awareness among consumers about the benefits of plant-based diets and rising demand for food & beverage products with high nutritional benefits and sensory taste are fueling the demand for texturized vegetable protein products. Approximately 14% of Australians are making a concerted effort to avoid red meat. Around 34% to 39% of urban Thai and Indonesian population have reduced consumption of animal-based protein in the past two years. This is due to the rising awareness of ethical issues linked to meat consumption and increasing focus on the detrimental health impacts of meat consumption.

In response to this trend, manufacturers are launching new products with plant protein sources in the texturized vegetable protein market. For instance, DuPont expanded its plant-based protein product range with a new pea protein for beverages (TRUPRO) in October 2018.

Increasing Healthcare Cost Boosts Market Growth

The cost of healthcare has risen twice as fast as general inflation, primarily due to the extensive research and development activities carried out in the pharmaceutical industry. Increasing cost of healthcare has compelled people to opt for vegetarian products, as these plant-based products provide health benefits, such as weight management, lower blood sugar levels, protect against certain cancers, lower risk of heart attacks, and reduce pain from arthritis, among others. Spurred by this factor, the texturized vegetable protein market will witness impressive growth.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=75215 

According to the European Federation of Pharmaceutical Industries and Association (EFPIA), Pharmaceutical Research and Manufacturers of America (PhRMA) and Japan Pharmaceutical Manufacturers Association (JPMA), R&D expenditure in the pharmaceutical industry in Europe increased from US$ 37,030.6 Mn in 2011 to US$ 38,055.6 Mn in 2012, while in the U.S., it rose from US$ 36,374 Mn in 2011 to US$ 36,810 MN in the same year.

The U.S. accounted for the highest healthcare spending in the world, which is 17.9% of its GDP; about US$ 8,362 per person. Similarly, spending on healthcare is increasing year-on-year in other developed countries, such as France, Germany, and Japan. Apart from developed countries, healthcare spending is also rising in developing countries such as India and China. Increasing healthcare spending in turn will drive the texturized vegetable protein market.

Global Texturized Vegetable Protein Market: Segmentation

Texturized Vegetable Protein Market, by Nature

Organic

Conventional

𝐆𝐞𝐭 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐛𝐮𝐲𝐢𝐧𝐠: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=75215 

Texturized Vegetable Protein Market, by Form

Chunks

Slices

Flakes

Granules

Texturized Vegetable Protein Market, by Product Type

Soy Protein

Wheat Protein

Pea Protein

Rice Protein

Faba Bean Protein

Lentil Protein

Flax Protein

Chia Protein

Corn Protein

Texturized Vegetable Protein Market, by End Use

Household

Commercial

Industrial

Food Industry

Snacks and Functional Bars

Ready Meals

Sport Nutrition

Clinical Nutrition

Baby Food

Meat Analogues/ Meat Extenders

Others

Animal Feed & Pet Food

𝐂𝐥𝐢𝐜𝐤 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=75215 

Texturized Vegetable Protein Market, by Distribution Channel

Direct

Indirect

Store-based Retailing

Hypermarkets/Supermarkets

Convenience Stores

Traditional Grocery Retailers

Online Retail

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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