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Textured Vegetable Protein Global Market Report 2024 - By Size, Share, Demand, Industry Trends, Forecast To 2033

08-01-2024 09:12 AM CET | Food & Beverage

Press release from: The Business research company

Textured Vegetable Protein Market

Textured Vegetable Protein Market

"The new report published by The Business Research Company, titled ""Textured Vegetable Protein Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the textured vegetable protein market size has grown strongly in recent years. It will grow from $1.78 billion in 2023 to $1.91 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The textured vegetable protein market size is expected to see exponential growth in the next few years. It will grow to $10.65 billion in 2028 at a compound annual growth rate (CAGR) of 53.8%.

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Plant-Based Ingredients Drive Growth Of Textured Vegetable Protein Market
The growing demand for plant-based ingredients is expected to propel the growth of the textured vegetable protein market going forward. Plant-based ingredients are extracted from plant roots and other parts, including fruits, vegetables, rice, wheat, maize, pulses, and other food crops. The demand for plant-based ingredients is rising due to health consciousness among people and increased concern for animal welfare. Textured vegetable proteins are derived from plants as an alternative to meat products. For instance, in 2021, according to the Plant Based Foods Association, a US-based non-profit organization, the market value of plant-based foods in the U.S. reached a new peak at $7.4 billion, experiencing 6.2% growth compared to 2020. Therefore, the growing demand for plant-based ingredients is driving the growth of the textured vegetable protein market.

Product Innovation Drives Development Of Textured Potato Protein As Meat Alternative
Product innovation is a key trend in the textured vegetable protein market. Major companies operating in the plant-based ingredients market focus on developing innovative products to provide alternatives to textured vegetable protein. For instance, in February 2022, KMC, a Denmark-based ingredients company, launched the first textured potato protein powder to be utilized as an alternative to meat. The powder form is transformed into a textured ingredient with a meat-like structure, high nutritional value, and a frying crust.

The textured vegetable protein market covered in this report is segmented -
1) By Product Type: Textured Soy Protein, Textured Wheat Protein, Textured Pea Protein, Other Product Types
2) By Nature: Organic, Conventional
3) By Application: Food Products, Animal Nutrition/Pet Food

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Major companies operating in the textured vegetable protein market report are Archer Daniels Midland Company, Cargill Incorporated, DuPont de Nemours Inc., Roquette Freres SA, Shandong Yuxin Biotechnology Co. Ltd, Axiom Foods Inc., Kansas Protein Foods LLC, Foodchem International Corporation, Dacsa Group, Victoria Group A.D., Crown Soya Protein Group, Wilmar International Ltd, Fuji Oil Co. Ltd, Vestkron A/S, Ingredion Inc, Tereos Syral, Agridient B.V., Beneo GmbH, CerealVeneta S.r.l., CHS Inc., Cosucra Groupe Warcoing SA, Devansoy Inc., Emsland Group, Gushen Biological Technology Group Co. Ltd., Harvest Innovations LLC, World Food Processing, Kerry Group plc, MGP Ingredients Inc., Nutri Pea Ltd., Puris Proteins LLC

Contents of the report:
1. Executive Summary
2. Textured Vegetable Protein Market Report Structure
3. Textured Vegetable Protein Market Trends And Strategies
4. Textured Vegetable Protein Market - Macro Economic Scenario
5. Textured Vegetable Protein Market Size And Growth
…..
27. Textured Vegetable Protein Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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