Textured Protein Market Anticipated to Soar to $2.7 Billion by 2032, According to Allied Market Research

The textured protein market size was valued at $1.1 billion in 2022, and is estimated to reach $2.7 billion by 2032, growing at a CAGR of 9.4% from 2023 to 2032.

A study published in the journal Science indicates that plant-based proteins have a lower environmental footprint compared to animal-based proteins, contributing to the growth of the textured protein market.

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Textured protein is a kind of protein that is processed to have a texture such as meat. It is derived from plant-based sources such as soybeans, peas, or wheat gluten. These proteins are transformed into fibrous structures resembling meat through various methods such as extrusion or spinning. Textured protein is commonly used as a substitute for meat in vegetarian and vegan diets or to extend meat products. It is versatile and flavored & seasoned to imitate the taste and texture of different meats, making it a popular option for plant-based meals.

Textured protein market opportunities has experienced significant growth in recent years, driven by various industry trends, growth drivers, and business opportunities. One of the key trends that shapes the market is the increase in preference of consumers for plant-based protein alternatives, which has been fueled by concerns regarding health, sustainability, and animal welfare. This trend has led to a surge in demand for textured protein products, which offer a meat-like experience without the environmental and ethical concerns associated with traditional meat consumption. Furthermore, improvements in food processing technologies have enabled manufacturers to develop textured protein products with better taste, texture, and nutritional profiles, thereby further boosting market growth.

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By region, the market is analyzed across North America, Europe, Asia-Pacific, LA, and MEA. North America accounted for a major market share in 2022 and is expected to grow at a significant CAGR during the forecast period. The demand for plant-based protein alternatives is on the rise due to increased awareness about health and sustainability. Technological advancements have improved the texture and taste of textured protein products, which are becoming more attractive to consumers. As meat alternatives become more available in retail outlets and restaurants, consumers are gaining greater access and driving demand. Furthermore, favorable government policies and initiatives that support sustainable and plant-based food options are also contributing to the market growth in North America.

Major players such as British Foods PLC, Bob's Red Mill Natural Foods, Ingredion Inc., Roquette Frere, and Vippy Industries Ltd have adopted product approval, partnership, agreement, and acquisition as key developmental strategies to improve the product portfolio of the textured protein market trends.

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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 Insights" 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.

This release was published on openPR.