Rising health consciousness among people all over the globe, unmet needs of protein rich diet, increasing demand for organic products and significant focus on development of novel protein rich products are key factors contributing to high CAGR of Textured Soy Protein during forecast period.

Market Size – USD 2,235.5 Million in 2020, Market Growth - CAGR of 8.40%, Market Trends – Product launches and research for advanced Textured Soy Protein

According to the current analysis of Reports and Data, the global Textured Soy Protein market was valued at USD 2,235.5 Million in 2020 and is expected to reach USD 4,303.5 Million by 2028, at a CAGR of 8.40%. Soy protein is a defatted soy flour product, commonly known as soy meat, soya chunks or texturized vegetable protein, is a by-product in the process of extracting oil from soybean. This quick to cook product has a meat-like texture, and it is often used as a meat replacement or meat extender. It is available in wide range of products as isolates, concentrates, meal, and flour.

Recent emergence of soy protein as dairy product and meat substitute is a major disruptive finding in industry. In line with this, the market players are expanding their capacity to deliver to the rising need among the consumers. For instance, In October 2017, Archer Daniels Midland Company, an American global food processing and commodities trading corporation invested in crushing facility in Straubing, Germany. This facility will enable the company to produce non-GMO highly nutritious soybean meal. The facility will help the Archer Daniels Midland Company to satisfy the high consumer demand in the region.

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Key participants include DowDuPont, Victoria Group, Archer Daniels Midland, Wilmar International, Bremil Group, Shandong Yuxin Bio-Tech, Sonic Biochem, Linyi Shansong Biological Products, Crown Soya Protein Group, and Hung Yang Foods

Further key findings from the report suggest

  • Textured Soy Protein market is growing at a CAGR of 5 % in Asia Pacific followed by North America and Europe, with 9.3 % and 9.1 % CAGR, respectively. Rising health consciousness is the key factor to accelerate the market growth during forecast period across all regions
  • As of 2018, Non-GMO product type segment is the dominating the industry which holds 40.2% of the global industry. North America regional market is the chief revenue generating source for this product segment, followed by Europe and Asia-Pacific regions
  • Conventional source type segment was valued at USD 603 million in 2018 and is expected reach USD 1.2 billion by 2026, growing at a CAGR of 9.2 %.
  • Organic type segment is expected to be the second fastest growing market segment during forecast period 2019 - 2026 with a CAGR of 9.7 %. However, unpleasant flavors and lack of awareness are major challenge for the industry growth of this segment

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For the purpose of this report, Reports and Data has segmented the Textured Soy Protein market on the basis of type, source type, Application type, and region:

Type (Revenue, USD Million; 2018–2028)

  • Non-GMO
  • Conventional
  • Organic
  • Others

Form Type (Revenue, USD Million; 2018–2028)

  • Concentrates
  • Isolates
  • Soy flour

Application Type (Revenue, USD Million; 2018–2028)

  • Food
    • Meat Substitutes
    • Dairy Alternatives
    • Infant Nutrition
    • Bakery
  • Feed

Regional Outlook (Revenue in USD Million; 2018–2028)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of the Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Middle East & Africa
  • Latin America
    • Brazil

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