Textured Vegetable Protein Market Size, Share, Growth Opportunities, Trends, Top Companies, and Forecast to 2027

Textured Vegetable Protein Market by Type (Slices, Chunks, Flakes, and Granules), Source (Soy, Wheat, and Pea), Application (Meat Alternatives, Cereals & Snacks), Form (Dry and Wet), Nature and Region - Global Forecast to 2027
The [https://www.globenewswire.com/news-release/2022/08/10/2495546/0/en/Textured-Vegetable-Protein-Market-worth-1-9-billion-by-2027-Exclusive-Report-by-MarketsandMarkets.html] is projected to reach USD 1.9 billion by 2027, recording a CAGR of 6.9% during the forecast period. It is estimated to be valued at USD 1.4 billion in 2022. A considerable percentage of the population in western countries has shifted toward a diet with reduced meat consumption, demanding healthy and tasteful meat-free food products. Due to changes in consumption patterns among consumers, food manufacturers are emphasizing vegetable proteins, such as pulses, wheat gluten, and soy protein, which are processed into meat-like products known as meat analogues. These products mimic certain aesthetic qualities, such as texture, flavor, color, and nutritional characteristics, of specific types of meat.

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Growing Demand for Plant-Based Proteins: The increasing trend towards plant-based diets and the rising awareness of the environmental impact of meat consumption have been driving the demand for plant-based protein sources, including TVP.

Rising Popularity in Vegan and Vegetarian Diets: TVP has gained popularity among consumers following vegan and vegetarian diets as it serves as a versatile and protein-rich meat substitute.

Innovation in Product Development: Food manufacturers have been investing in research and development to create innovative TVP products, such as flavored and pre-seasoned varieties, to cater to diverse consumer preferences.

Health and Wellness Trends: TVP is often perceived as a healthier protein alternative, being lower in fat and calories compared to some meat-based proteins. This aligns with the broader health and wellness trends in consumer choices.

Retail and Foodservice Adoption: Increased availability of TVP in both retail and foodservice sectors, with more restaurants and food companies incorporating plant-based options into their menus.

Global Market Expansion: The TVP market has seen growth not only in traditional markets like North America and Europe but also in regions where plant-based diets are becoming more popular, such as Asia-Pacific.

Clean Label and Natural Ingredients: Consumers are increasingly looking for products with clean labels, leading to a preference for TVP products made from natural and minimally processed ingredients.

Sustainability and Ethical Considerations: The environmental impact of food choices is a growing concern. TVP, being plant-based, is often perceived as a more sustainable and environmentally friendly option compared to animal-based proteins.

Challenges in Flavor and Texture Mimicry: Despite advancements, achieving the exact taste and texture of meat remains a challenge for some TVP products. Ongoing efforts to improve these aspects are crucial for wider consumer acceptance.

Textured Vegetable Protein Market Drivers [https://www.linkedin.com/pulse/textured-vegetable-protein-market-size-share-trends-growth-scott-tqfcf/]: Innovations and developments related to vegetable protein augmenting vegan trend

According to The Food Science and Health Database Organization, in 2018, "22 million UK citizens now identify as being a 'flexitarian,' viewed not as a fad diet, but a permanent lifestyle choice, notably most popular among highly influential millennials." Thus, the increasing vegan and flexitarian population is expected to drive the textured vegetable protein market during the forecast period. Increased soy and wheat crop cultivation in developing regions, such as South America and Asia Pacific, has augmented the widespread cultivation of soybean and wheat grains across the globe, resulting in the availability of soy and wheat products, such as textured vegetable proteins.

According to a study published by the European Vegetarian Union in 2019, the vegan population in Europe contributes to more than 6% of the European population. According to The Vegan Society, the vegan population in the UK increased to above 600,000 in 2019-an increase of 300% compared to 2014. This is one of the prime factors driving food and beverage manufacturers toward innovations and developments of meat alternatives, dairy alternatives, and protein nutritional beverages. This has provided a boost to plant-sourced food & beverages.

Textured Vegetable Protein Market Opportunities [https://www.openpr.com/news/3272088/textured-vegetable-protein-market-to-reach-usd-1-9-billion]: Developments in extraction of textured vegetable protein from new sources

The traditional sources for the extraction of textured vegetable protein are soy, wheat, and pea. Soy has been the major source for obtaining textured vegetable protein. Manufacturers have been exploring other sources, such as lentils, fava, oats, rice, and chia seeds. Fava has been a rich source of plant-based protein and several other vitamins and minerals. They are also loaded with soluble fiber that can aid digestion and lower cholesterol levels. Fava beans can also supply over 46% of proteins as essential macronutrients during extraction. This results in fava as a crucial alternative source for textured vegetable protein. VestKorn (US) has been offering textured vegetable protein obtained from fava.

Lentils are high-protein, edible pulses that grow in pods. They have been sold dry in countries in the Middle East and Asia Pacific. Lentils are made up of over 40% protein, which makes them an excellent meat alternative. They can be a prominent source for the production of textured vegetable protein. Chia seeds have been an excellent source of plant-based protein. One tablespoon of chia will provide 3g of complete protein, with nine essential amino acids. This fuels its usage as an important source for obtaining textured vegetable protein. Brown rice has been gaining attention among the manufacturers in obtaining protein to cater to the demand for vegan and soy-free alternatives for proteins. Therefore, alternate sources pose a huge opportunity to extract textured vegetable proteins.

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Health Benefits Associated With Organic Textured Vegetable Protein Is Driving The Growth

Hydrated, textured vegetable protein delivers a fibrous meat-like texture with outstanding moisture retention, making it perfect for meat and meat alternative applications. Its dry form provides unique textures that characterize many of the most popular bars and snacks. The growing awareness of consumers about the availability of low-cost organic protein is a key element in the organic textured vegetable protein market. Different technologies, such as cell disruption, solubilization/precipitation, and enrichment systems, are used to obtain the protein fraction from organic soy/pea/wheat. The presence of magnesium in the organic textured wheat protein makes it beneficial for health. Magnesium helps improve the body's insulin response by drastically lowering insulin resistance. In this way, the magnesium in the organic wheat flour and zinc helps regulate blood sugar and prevent diabetes.

North America dominates the textured vegetable protein market due to the growing trend of veganism in the region, which continues to drive meat alternatives into mainstream consumer applications.

The North American region hosts a substantial production base for textured vegetable protein processing. Major ingredient manufacturers, such as DuPont (US), ADM (US), Cargill (US), and CHS (US), have been bolstering their product development capabilities to offer meat alternatives as per the changing consumer preferences in the region. Canada has been the largest producer of peas for textured pea protein processing with the presence of multiple existing and upcoming processing units in Manitoba. According to a study published by the Government of Canada in 2019, Canada estimates a surge of 30% in pea production up to 4.7 MT by 2020 in the region. On the other hand, the US is a key producer of soybeans and wheat in the region.

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The key players in this market include ADM (US), Roquette Freres (France), Ingredion (US), DuPont (US), The Scoular Company (US), Beneo (Germany), Cargill, Incorporated (US), MGP (US), Shandong Yuxin Biotechnology Co. Ltd. (China), Axiom Foods, Inc., (US), Foodchem International Corporation (China), PURIS (US), Kansas Protein Foods (US), and DSM (Netherlands).

ADM operates through processing and manufacturing facilities across the US and worldwide. It competes with the world's leading textured vegetable protein manufacturers, such as Ingredion (US) and Cargill, Incorporated (US). ADM operates through processing and manufacturing facilities across the US and worldwide. Its network spans more than 200 countries. In September 2020 ADM launched Arcon T textured pea proteins, Prolite MeatTEX textured wheat protein. These highly functional protein solutions improve the texture and density of meat alternatives. Hence, by expanding its product portfolio company can cater demand of meat-like texture protein.

Cargill, Incorporated is a global conglomerate catering to the demand in various industries. The company comprises 75 businesses classified into four key segments: agriculture, food, financial services, and industrial products. It offers its plant protein products under its food segment to meet the demand for food ingredients. The company has been primarily focusing on accelerating growth in markets, such as global protein, specialty ingredients, and health & nutrition products, due to the rising demand among consumers. It has been focusing on providing similar flavor and textured substitutes for conventional food products and innovations in textured vegetable protein.

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