Rising health consciousness among people all over the globe, unmet needs of protein rich diet, increasing demand for organic products and significant focus on development of novel protein rich products are key factors contributing to high CAGR of Textured Soy Protein during forecast period.
— According to the current analysis of Reports and Data, the global Textured Soy Protein market was valued at USD 1.81 Billion in 2018 and is expected to reach USD 3.76 Billion by year 2026, at a CAGR of 9.4 %. 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. Recent emergence of soy protein as dairy product and meat substitute is a major disruptive finding in industry.
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Key players mentioned in the research report are:
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
In terms of applications, the global Textured Soy Protein market can be segmented into:
In terms of types, the global Textured Soy Protein market can be segmented into:
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For geographical segmentation, regional supply, application-wise, and type-wise demand, key players, and others, this report covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report sheds light on the competitive landscape of the market that covers the product offerings, services, market shares, and business overview. This Textured Soy Protein Market research report covers various dynamic aspects like the market drivers, restraints and challenges, and growth prospects. The prominent and leading companies are profiled in the report.
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
• The isolates source type segment was valued at USD 493 million and is expected reach USD 1.01 billion by 2026, growing at a CAGR of 9.2 %.
• Asia Pacific is expected to account for the 19.6 % of the global industry. Developing nations such China, and India are likely to witness high growth
• Europe regional segment was valued at USD 517 million in 2018 and is expected reach USD 1.05 billion by 2026, growing at a CAGR of 9.1 %.
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