The global textured soy protein market is anticipated to grow at a significant rate during the forecast period owing to low processing costs associated with textured soy proteins. The increasing number of vegan and vegetarian population is also acting as a driver for the growth of the textured soy protein market. Moreover, the increasing cultivation of soy crops around the world has increased the availability of soy products like textured soy protein. This increased availability of textured soy protein is expected to drive the market growth in the coming years.

The rising awareness towards health & fitness has led to increased consumption of high protein-based food among consumers which is further supporting the demand for textured soy protein. They are also used as flavour binder in various cuisine and helps maintain moisture level in food. The growing awareness regarding the availability of low-cost protein substitutes like textured soy protein is poised to fuel the market growth by 2026.

Global textured soy protein market can be segmented based on type, source, application and region. Based on type, the market is segmented into non-GMO, organic, conventional and others. The non-GMO textured soy protein dominated the global market in 2020 and the segment is expected to undergo the fastest growth owing to the growing awareness about the harmful effects of Genetically Modified (GM) crops on health. Also, various countries including India and China have imposed restrictions on genetically modified crops which is acting as a growth opportunity for non-GMO textured soy protein market.

Regionally, North America is the largest consumer of textured soy protein owing to the growing vegan population and rising health awareness in the region. However, Asia Pacific is projected to be the fastest-growing market during the forecast period owing to the increasing cultivation of soy crop in the region and rising health awareness among people.

Major companies operating in the global textured soy protein market include Archer Daniels Midland Company, Cargill, Incorporated., Wilmar BioEthanol., Victoria Group, Bremil Group, Sonic Biochem, CROWN SOYA PROTEIN GROUP, HOYA FOOD, SHANDONG YUXIN BIO-TECH CO., LTD. and Bunge, among others. Companies are taking up growth strategies like new product launches and mergers & acquisitions to acquire a greater market share.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022–2026

Objective of the Study:

To analyse and forecast the market size of global textured soy protein market.
To forecast global Textured Soy Protein market based on type, source, application, company and regional distribution.
To identify drivers and challenges for global textured soy protein market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global textured soy protein market.
To identify and analyse the profile of leading players operating in the global textured soy protein market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of textured soy protein companies across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the vendors which could not be identified due to the limitations of secondary research.

TechSci Research calculated global textured soy protein market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

Textured soy protein manufacturing companies/partners
Suppliers/Distributers
End-Users
Government bodies such as regulating authorities and policy makers
Organizations, industry associations, forums and alliances related to textured soy protein market
Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as Textured Soy Protein manufacturing companies and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.


About TechSci Research

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