NEWARK, September 26, 2023 (GLOBE NEWSWIRE) — The global textured vegetable protein market grows from USD 1.2 billion in 2021 to 2030, at a CAGR of 7.9% during the forecast period 2022 to 2030. It is expected to grow to US$2.3 billion by 2020. The growing demand for vegan foods has increased the need for textured vegetable proteins to help reduce the likelihood of negative health effects such as high blood pressure, obesity, diabetes, and metabolic syndrome caused by imbalanced caloric intake. I am. Rapid urbanization has changed eating habits and modern lifestyles have increased the likelihood of human disease outbreaks. However, people’s health awareness is increasing, and the market development is gaining momentum.
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Global Textured Vegetable Protein Market Size, By Product Type (Textured Soy Protein, Textured Wheat Protein, Textured Pea Protein, etc.), By Application (Meat Substitutes, Cereals & Snacks), By Region, And Global Industry Analysis, Share, Growth, Trends and Forecasts from 2022 to 2030 by End User
Key Insights into the Global Textured Vegetable Protein Market
Textured soy protein segment dominated the market with market revenue reaching $400 million in 2021
The product type segment is categorized into Textured Soy Protein, Textured Wheat Protein, Textured Pea Protein, etc. In 2021, the textured soy protein segment dominated the market with a revenue of $400 million. Textured soy protein has several health benefits that are driving the growth of this segment.
The cereals and snacks segment is expected to grow at the fastest CAGR of 8.2% during the forecast period.
The application segment is divided into meat substitutes and cereals and snacks. During the forecast period, the cereals and snacks sector is expected to grow at the fastest CAGR of 8.2%. The increasing consumption of cereals and snacks due to ease of preparation has prompted textured vegetable protein manufacturers to produce cereals and snacks with textured vegetable protein, which is driving the growth of this segment.
Report scope details:
|Market size in 2030||$2.3 billion|
|Number of pages in the report||236|
|Target segment||Product type, application, region.|
|driver||Increase in demand for vegan food|
|opportunity||Extraction of textured vegetable proteins from new sources|
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Regional segmentation analysis:
The global textured vegetable protein market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is expected to become the largest textured vegetable protein market during the forecast period. The region’s large population drives market growth. Additionally, the increasing demand for organic food among the people in recent times and increasing incidence of diseases due to lifestyle changes are also propelling the market growth.
Key players in the textured vegetable protein market include Cargill, DuPont, Ingredion, Roquette Frères, The Schooler Company, Axiom Foods, Shandong Yuxin Biotechnology Co., Ltd., and Kansas Protein Foods LLC. , Foodchem International Corporation, and DACSA Group.
About the report:
The market is analyzed on the basis of value (million USD). All segments are analyzed globally, regionally and by country. The study includes analysis of more than 30 countries in each part. The report analyzes the drivers, opportunities, restraints, and challenges to gain key insights on the market. This research includes Porter’s Five Forces Model, attractiveness analysis, product analysis, supply and demand analysis, competitive position grid analysis, distribution, and marketing channel analysis.
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