Textured Vegetable Protein Market to Reach $2.1 Billion by 2027, Says Allied Market Research

According to a new report published by Allied Market Research, titled, "Textured Vegetable Protein Market by Product Type, Form, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2027," The global textured vegetable protein market size was valued at $987.9 million in 2019, and is projected to reach $2,139.6 million by 2027, registering a CAGR of 9.2% from 2021 to 2027.

𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/request-sample/11520

Textured vegetable protein (TVP) is a plant-based protein that serves as an alternative to animal-based proteins like meat and eggs. The demand for textured vegetable protein is expected to witness growth, driven by health-conscious consumers seeking protein-rich food.

TVP, a plant-based protein, serves as a substitute for animal-based proteins like meat and eggs, catering to the growing demand from health-conscious consumers seeking protein-rich food options. The COVID-19 pandemic has further accelerated the market's growth, with consumers shifting towards TVP as an alternative to meat and meat products. This trend, driven by the pandemic, has contributed to the market's expansion amidst the global health crisis.

Textured vegetable protein is derived from various plant sources such as pea, soybean, and wheat. It offers high protein and fiber content with zero fat or cholesterol, making it an attractive option for health-conscious consumers. Available in forms like granules, flakes, and chunks, TVP caters to different consumer preferences and dietary needs. The rise in demand for healthy diets, particularly among vegetarian consumers, has propelled the growth of the textured vegetable protein market, especially variants like textured soy protein.

The market is segmented based on product type, form, end-user, and region. Product types include textured soy protein and others, while forms range from flakes to granules and chunks. End-users are categorized as business-to-business and business-to-consumers. Geographically, North America accounted for the highest market share in 2019, with Asia-Pacific expected to experience the highest CAGR during the forecast period.

𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 : https://www.alliedmarketresearch.com/request-for-customization/A11155

The market is segmented based on product type, form, end-user, and region. Product types include textured soy protein and others. The forms include flakes, granules, chunks, and others. End-users are categorized as business-to-business and business-to-consumers. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

In terms of product type, the "others" segment is expected to exhibit the highest CAGR during the forecast period. This growth is attributed to increased consumer awareness regarding animal cruelty and the negative impacts of meat products on human health.

The flakes segment is anticipated to witness the highest CAGR among different forms during the forecast period. This growth is driven by the rising adoption of textured vegetable protein in flake form in various restaurants for meals like burgers and soups as a meat analog.

The textured vegetable protein market segment is categorized into product type, form, end user, and region. By product type, it is bifurcated into textured soy protein and others. By form, the market is classified into flakes, granules, chunks, and others. By end user, it is divided into business to business and business to consumers. By region, the textured vegetable protein market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).

𝐒𝐏𝐄𝐀𝐊 𝐖𝐈𝐓𝐇 𝐀𝐍𝐀𝐋𝐘𝐒𝐓 : https://www.alliedmarketresearch.com/connect-to-analyst/A11155

The "business to business" segment is expected to grow at the highest CAGR in the end-user category during the forecast period. The increase is attributed to a growing number of restaurants offering textured vegetable protein in their menus to cater to the rising number of health-conscious consumers.

In terms of region, Asia-Pacific is expected to experience the highest CAGR during the forecast period. The health and wellness trend in the region has led Asian consumers to seek functional foods like textured vegetable protein to enhance their well-being.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

Key findings of the study reveal that textured soy protein held the highest market share in 2019 and is expected to continue its growth trajectory with a CAGR of 9.0% from 2021 to 2027. In terms of form, the chunks segment dominated the market in 2019 and is anticipated to maintain its dominance throughout the forecast period. The business-to-consumer segment led the market in 2019 and is projected to maintain its dominance during the forecast period. Prominent players in the global textured vegetable protein industry include Archer Daniels Midland Company, Cargill, Incorporated Inc., Du Pont de Nemours and Company, Foodchem International Corporation, and others.

In summary, the textured vegetable protein market is witnessing robust growth driven by consumer preferences for healthier food options, the impact of the COVID-19 pandemic, and the versatility of TVP in meeting various dietary needs and preferences.

𝐁𝐔𝐘 𝐍𝐎𝐖 : https://www.alliedmarketresearch.com/checkout-final/819b4c6e32ac2748218003d6e975e6d3

Prominent Players

- Key players in the global textured vegetable protein industry include

⦁ Archer Daniels Midland Company
⦁ Cargill, Incorporated Inc.
⦁ Du Pont de Nemours and Company
⦁ Foodchem International Corporation
⦁ Hung Yang Foods Co.Ltd.
⦁ Sonic Biochem Extraction Pvt Ltd
⦁ Südzucker Group (Beneo)
⦁ Victoria Group A.D.
⦁ Wilmar International Limited

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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This release was published on openPR.