Textured Vegetable Protein Market: Growth Trends, Market Dynamics, and Future Prospects

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.

The COVID-19 pandemic has positively influenced the growth of the textured vegetable protein market, as consumers have shifted away from meat and meat products. During the pandemic, people have opted for textured vegetable protein, which offers a similar texture and taste to meat. This trend has contributed to the market's growth amidst the global health crisis.

Additionally, the increasing demand for textured vegetable protein is anticipated due to a surge in the need for nutritional food. Consumers are focusing on adopting healthy diets, leading to a higher intake of protein. The growing awareness of the benefits offered by nutritional and health products significantly contributes to the textured vegetable protein market's expansion

Textured vegetable protein is a plant-based protein specifically derived from pea, soyabean, wheat, and others. It is a meat substitute and has high protein and fiber content while having zero fat or cholesterol. The textured vegetable protein is dry and shelf-stable product after processing and is available in different forms, including granules, flakes, chunks, and others. Different variants of textured vegetable proteins are available in the market. These include textured wheat protein, textured pea protein, textured soy protein and others. rise in demand for healthy diets boosts the preference for textured vegetable protein, especially textured soy protein, in the market. Moreover, rise in demand for textured vegetable protein from vegetarian consumers looking for protein-rich meal drives the growth of the textured vegetable protein market.

▶ 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-consumer. 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

Product Type Analysis
The textured soy protein segment held the highest market share in the textured vegetable protein market in 2019.
This segment is expected to grow at a CAGR of 9.0% from 2021 to 2027.

Form Analysis
The chunks segment dominated the market in 2019, holding the maximum share.
It is anticipated to continue its dominance throughout the forecast period.

End User Analysis
The business-to-consumer segment had the highest market share in 2019.
It is projected to maintain its dominance in the market during the forecast period.

Regional Analysis
North America accounted for the highest market share in 2019.
The region is expected to grow at a CAGR of 7.9% during the forecast period.

▶ 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, 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., and 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 of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

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This release was published on openPR.