Global textured
soy protein market is anticipated to grow significantly in the
forecast period owing to the increasing awareness about healthy lifestyle.
Textured soy protein or TVP (textured vegetable protein) contains soybeans
derivative instead of the actual vegetables. It is normally used as a
substitute for meat or meat extender. TVP or textured soy protein is also
commonly used in cafeterias with limited financials like prisons and schools.
Textured soy protein is cost effective, has longer shelf like and can be
adopted by vegetarians.
Textured soy protein market is driven by low
cost of protein source, high nutritional soy value, use as a substitute for
dairy and meat food products and increase in number of health conscious
consumers. Moreover, increasing use of textured soy proteins in multiple food
products, consumers’ inclination toward meat and vegan foods are accelerating
the demand of TVP, thereby affecting the market growth.
However, stringent government regulations
regarding genetically improved crops are obstructing the growth of market.
Moreover, market players are emphasizing on product development in organic soy
protein to meet the flexible demand from industries.
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The market is categorized on the basis
of product type, form, application, and geography. On the basis of product
type, market is divided into soy protein isolates, soy protein concentrates and
others. Soy protein concentrates segment is expected to lead the market since
they are used as nutritional ingredients in most bakery products, meat and
cereals products. They are also used poultry foods to increase retention of fat
and water and to improve nutritional value due to high content of protein,
which raises their demand.
Based on form, market is bifurcated
into liquid and dry. Dry segment is expected to hold larger share of the market
since it is protein rich, contains no fat and is an excellent alternative to
meat. In terms of application, textured soy protein market is split into daily
alternatives, meat substitutes, bakery foods, snacks & cereals, animal
feed, infant nutrition and others. Meat substitutes followed by bakery
products, infant nutrition, dairy alternatives and cereal & snacks are
expected to register significant growth owing to increase in demand from these
segments.
Geographically, market is segmented as
North America, Latin America, Europe, Asia Pacific and Middle East &
Africa. North America is expected to dominate textured soy protein market owing
to increasing consumer awareness, rise in demand for vegan foods and benefits
associated with textured soy proteins. The prominent market players profiled
here are ADM, Cargill, Sonic Biochem, Hung Yang Foods, DowDuPont, Dutch Protein
& Services, Victoria Group, Linyi Shansong Biological Products, Bremil
Group, Wilmar International, etc.
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