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.
Textured Soy protein is a defatted Soy flour product, commonly known as soy meat, soya chunks or texturized vegetable protein. It is a by-product obtained in the process of extracting oil from soybean. It can be made from soy flour or soy concentrate; however, only textured soy flour is readily available for consumers in the market. When these soy-based products are re-hydrated, it resembles cooked ground beef or poultry animals in texture and may be used alone or with meats to make various cuisines or products.
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Key Players:
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
Further key findings from the report suggest:
- Textured Soy Protein market is growing at a CAGR of 5 % in Asia Pacific followed by North America and Europe, with 9.3 % and 9.1 % CAGR, respectively. Rising health consciousness is the key factor to accelerate the market growth during forecast period across all regions
- As of 2018, Non-GMO product type segment is the dominating the industry which holds 40.2% of the global industry. North America regional market is the chief revenue generating source for this product segment, followed by Europe and Asia-Pacific regions
- Conventional source type segment was valued at USD 603 million in 2018 and is expected reach USD 1.2 billion by 2026, growing at a CAGR of 9.2 %.
- Organic type segment is expected to be the second fastest growing market segment during forecast period 2019 - 2026 with a CAGR of 9.7 %. However, unpleasant flavors and lack of awareness are major challenge for the industry growth of this segment
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Market Segmentation:
Type (Revenue, USD Million; 2018–2028)
- Non-GMO
- Conventional
- Organic
- Others
Form Type (Revenue, USD Million; 2018–2028)
- Concentrates
- Isolates
- Soy flour
Application Type (Revenue, USD Million; 2018–2028)
- Food
- Meat Substitutes
- Dairy Alternatives
- Infant Nutrition
- Bakery
- Feed
Regional Outlook (Revenue in USD Million; 2018–2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East Africa
- Latin America
- Brazil
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Key Points Covered in the Report:
- Comprehensive analysis of latest and emerging trends influencing the growth of the market
- SWOT analysis of each major market player along with in-depth analysis of major market players with detailed portfolio of their products, production capacity, revenue estimation, and gross margin
- Market concentration, production and consumption ratio, demand supply analysis, and import/export
- Strategic recommendations to the new entrants as well as established companies to make beneficial business decisions
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