Textured Soy Protein Market Size Thriving Beyond USD 10.46 Billion by 2030 | The Rising Trend of Healthy Living
Global textured soy protein market size is anticipated to grow from USD 4.51 billion to USD 10.46 billion in 8 years. Upsurge in need for high protein consumption and other alternatives for excellent products among vegetarians to drive market growth. Top companies listed in this report are Abbott Nutritionals, Archer Daniels Midland, Bunge, Cargill Inc., Costantino Special Protein, DuPont Nutrition & Health, Friesland Campina, Kerry Group Plc., New Alliance Dye Chem Pvt. Ltd, Solae LLC, The Good Scents Company and others.
Newark, Oct. 17, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 4.51 Billion in 2021 textured soy protein market will reach USD 10.46 Billion by 2030. People’s knowledge of harmful lifestyle practices is growing. Changing lifestyle patterns to better choices has contributed to the rising healthy living trend.
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Key Insight of the Textured Soy Protein Market
North America emerged as the most significant market, with a 34.5% market revenue share in 2021.
North America dominated the market, with a market share of around 34.5% in 2021. The North American region is renowned for the advancement of customer soy foods, some available diets, and dairy substitutes, which has expanded the scope of the textured soy protein market. People choose healthy and helpful components compared to meat and animal products.
The concentrates segment dominated the market, with a market share of around 34% in 2021.
In 2021, the concentrates segment led the market, accounting for about 34% of the market. They are easily digestible, reasonably priced, and available in flour, granule, and spray-dried forms. They are appropriate for clients of all ages, including pregnant and breastfeeding mothers, toddlers, and the elderly.
The non-GMO segment dominated the market, with a market share of around 33% in 2021.
In 2021, the non-GMO segment led the market, accounting for about 33% of the market. Non-GMO textured soy proteins are high in protein and dietary fibres and minerals, low in cholesterol, casein, and lactose, and free of microbiological pollutants.
The food segment dominated the market, with a market share of around 27% in 2021.
In 2021, the food segment led the market, accounting for about 27% of the market. The number of vegan consumers looking for plant-based proteins to replace meat is growing. Customers require a steady supply of proteins for proper functioning, metabolism development, and reproduction.
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Driver: An affordable and easy-to-consume form of protein
High soy crop farming in growing regions such as Asia Pacific and South America, in addition to global soybean farming, has increased the availability of soy products such as textured soy proteins. Primary ingredients for textured soy protein can be obtained from contract farmers or oilseed crushers that deliver soy meals. The decreased processing costs associated with textured soy proteins are adequate for suppliers’ functional needs, allowing the process to pay for product expansion.
Restraint: Strict government rules for inherently altered crops
Genetically modified crops are prohibited in countries such as Europe, where many nations, as territories of the European Union, have prohibited agriculturalists from cultivating GM (genetically modified) crops. Germany, Scotland, France, and Northern Ireland have all impacted the genetically modified soybean industry.
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Some of the major players operating in the textured soy protein market are:
• Abbott Nutritionals
• Archer Daniels Midland
• Cargill Inc.
• Costantino Special Protein
• DuPont Nutrition & Health
• Friesland Campina
• Kerry Group Plc.
• New Alliance Dye Chem Pvt. Ltd
• Solae LLC
• The Good Scents Company
Key Segments cover in the market:
• Meat Substitutes
• Dairy Alternatives
• Infant Nutrition
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the clients objectives of high-quality output within a short time. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. The customized solutions are tailored to meet the client’s requirements whether they are looking to expand or planning to launch a new product in the global market.
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