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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Rising health consciousness among people all over the globe, unmet needs of nutritious rich diet, significant focus of companies on development of novel nutritional rich products, rising use in meat processing and as alternative to dairy products, upcoming patent expiry, available significant research funding, and favorable regulatory scenario, are some of the prominent factors propelling growth in the industry. However, the unpleasant taste of the soy products, and lack of awareness related to Textured Soy Protein, are the major hindrance for the industry during 2019-2026.
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
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)
Form Type (Revenue, USD Million; 2018–2028)
Application Type (Revenue, USD Million; 2018–2028)
Regional Outlook (Revenue in USD Million; 2018–2028)
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Further key findings from the report suggest
Key Features of the Textured Soy Protein Market Report:
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