As per the latest report by Reports and Data, the global Textured Soy Protein Market had a size of USD 6.56 billion in 2021 and is projected to achieve a revenue CAGR of 9.8% during the forecast period. The market's revenue growth is anticipated to be propelled by factors such as growing awareness about the advantages of soy protein, changing consumer attitudes toward nutrition, and the increasing trend of veganism, which is associated with health benefits derived from vegan diets.
The expansion of health and fitness centers worldwide has led to a rapid surge in soy protein adoption. Soy protein, which contains 90% protein, is known to help reduce blood pressure, enhance energy levels, and has minimal levels of saturated fat. Several international health organizations and government initiatives are promoting the intake of soy protein, which is creating new and more profitable prospects for players in the global Textured Soy Protein Market
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Top Companies Operating in the Global Textured Soy Protein Market Report:
Wilmar International Ltd, The Nisshin OilliO Group, Ltd., Patanjali Foods Ltd., Ag Processing Inc. a cooperative, Devansoy Inc., Cargill, Incorporated., DuPont, ADM, Kerry Group plc., and CHS Inc.
Major Driving Factors of Textured Soy Protein Market
- Increased Demand for Plant-Based Proteins: The growing trend towards healthy eating and vegetarian and vegan diets has increased the demand for plant-based protein sources such as soy protein. Soy protein is a complete protein that contains all nine essential amino acids, making it an attractive alternative to animal protein.
- Rising Health Consciousness: Soy protein is known for its health benefits, including cholesterol-lowering properties, reducing the risk of heart disease, and aiding in weight management. Consumers are becoming more health-conscious and are seeking out food and beverage products that offer functional health benefits, driving the demand for soy protein.
- Growing Food Industry: The food industry is growing rapidly, with the increasing demand for processed foods, ready-to-eat meals, and convenience foods. Soy protein is widely used in the food industry as an ingredient in products such as meat substitutes, dairy alternatives, and baked goods.
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The global Textured Soy Protein Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Soy Protein Isolates
- Soy Protein Concentrates
- Textured Soy Protein
- Soy Flour, Grits, and Chunks
Form Outlook (Revenue, USD Billion; 2019-2030)
- Powder
- Ready-to-Drink
- Bars
- Capsules Tablets
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Feed
- Food
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Specialty Store
- Convenience Store
- E-Commerce/Online Sale Channel
- Supermarket/Hypermarket
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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