Textured Soy Protein Market Size & Share, Global Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Textured Soy Protein Market


The global textured soy protein market size was estimated at USD 3.53 billion in 2018 and is projected to expand further at a CAGR of 9.1% from 2019 to 2025. Increasing demand for protein-rich food is expected to drive the market for textured soy protein over the forecast period. Owing to increasing health awareness, consumers are opting for low-carb and low-fat foods, which is also driving the product demand.
Moreover, rising demand in the functional drinks industry is expected to support the market growth over the forecast period. Increasing demand for Ready-to-Eat (RTE) food products owing to hectic lifestyle is projected to drive the market further. In addition, growing popularity of textured soya protein as a meat substitute is also likely to contribute to the market expansion.
 

According to studies published in 2018, demand for meat substitutes and other plant-based substitutes to animal-based products, such as milk, yogurt, and cheese, increased by 25% and 17%, respectively. Furthermore, on account of increasing environmental concerns and awareness about animal cruelty manufacturers are introducing meat analogue products, which is likely to fuel product demand.
Non-GMO soy protein was the largest product segment in 2018 and is expected to maintain its dominant position throughout the forecast period. North America was the largest regional market in 2018; however, Asia Pacific is expected to be the fastest-growing market at a CAGR of 11.4% over the forecast period.
                                                                Product 
Type Insights of Textured Soy Protein Market

Non-GMO product type held 53.9% share of the global textured soy protein market in 2018 and is expected to maintain its dominance over the forecast period. Increasing awareness about the harmful effects of Genetically Modified (GM) crops and demand for non-GMO products are likely to drive the segment. Moreover, restrictions on genetically modified soya beans in India, China, and other countries has fueled the demand for non-GMO crops.
Organic segment is expected to register the fastest CAGR of 9.4% from 2019 to 2025. The segment is driven by the increase in demand for organic food products across the globe. Hectic work schedule has fueled the demand for organic foods & beverages containing textured soya protein. Furthermore, rising health consciousness has increase the demand for preservative- and additive-free products.

Application Insights of Textured Soy Protein Market

Food application led the global market in 2018 and is projected to expand further at the fastest CAGR of 9.3% from 2019 to 2025. Textured vegetable proteins are becoming popular due to increasing demand for meat alternatives, which is likely to fuel the segment growth. Soya proteins play an important role as a source of complementary & supplementary proteins and help enhance the solubility, water absorption, viscosity, emulsification, texture, and anti-oxidation, which in turn, boosts their demand.
 

Moreover, soya helps in preventing various chronic diseases, such as heart disease, hypertension, certain cancers, diabetes, and osteoporosis. In also helps in maintaining body function and is a source of major amino acids. Thus, it has huge demand in the food application segment. Feed segment is expected to witness a CAGR of 8.5% over the forecast period. Soya bean meal is widely used as protein source in poultry and other livestock industry due to its unique combination of essential amino acids required for the growth of livestock.

Regional Insights of Textured Soy Protein Market

North America was the largest region in 2018 and accounted for half of the overall market share. Increasing vegan population and health awareness in the region are the key factors driving its growth. On the other hand, Asia Pacific is expected to register the fastest CAGR of 11.4% over the forecast period. Increasing soya bean production coupled with the rising awareness about health benefits of soya bean is boosting the regional market growth. China is one of the largest consumers in this region. It accounted for more than 20% share of the Asia Pacific market.

Market Share Insights of Textured Soy Protein Market

The global market is highly competitive. Key companies in the market are Archer Daniels Midland Company; Cargill, Inc.; Wilmar BioEthanol; Victoria Group; Bremil Group; Sonic Biochem; CROWN SOYA PROTEIN GROUP; HOYA FOOD; SHANDONG YUXIN BIO-TECH CO., LTD.; and Bunge. Most of these companies have undertaken business strategies, such as merger & acquisition and product innovation to acquire a greater market share.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Textured Soy Protein Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global textured soy protein market report on the basis of product type, application, and region:


Product Type Outlook (Revenue, USD Million, 2019 - 2030)


Non-GMO


Conventional


Organic


Application Outlook (Revenue, USD Million, 2019 - 2030)


Food


Feed