Textured Soy Protein Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
The textured soy protein are used to enhance the texture and nutritional content of dishes. Textured soy protein refers to processed food products made from soy proteins and isolates, with or without nutritional ingredients added, and compressed into granules or chunks. It is used to improve the texture and nutritional value of foods and is commonly utilized as a nutritious element in baked goods, breakfast cereals, animal feed, and some meat products.

Sizing and Forecast
The textured soy protein market size has grown rapidly in recent years. It will grow from $2.8 billion in 2023 to $3.1 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to rise in health consciousness and demand for plant-based proteins, expansion of vegetarian and vegan diets, cost-effectiveness compared to animal proteins, growth in awareness of soy protein’s nutritional benefits, increased applications in food and beverage industry.

The textured soy protein market size is expected to see rapid growth in the next few years. It will grow to $4.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to expansion of meat alternatives and plant-based diets, focus on sustainable and ethical sourcing practices, consumer interest in clean label and natural ingredients, increasing demand for sports nutrition and protein supplements, market penetration in emerging economies. Major trends in the forecast period include technological advancements in soy protein processing, innovation in product formulations and texture improvement, blending with other plant proteins, fortification and nutritional enrichment, soy protein isolate vs. concentrate.

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Segmentation & Regional Insights
The textured soy protein market covered in this report is segmented –

1) By Type: Non-GMO, Conventional, Organic, Other Types
2) By Source: Soy Protein Concentrates, Soy Protein Isolates, Soy Flour
3) By Application: Food, Meat Substitutes, Dairy Alternatives, Infant Nutrition, Bakery, Other Applications

North America was the largest region in the textured soy protein market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the textured soy protein market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
Increasing demand for protein-rich foods across the globe is expected to propel the growth of the textured soy protein market going forward. Protein-rich food refers to high-protein diets that contain a substantial amount of protein and very little carbohydrate. A high-protein diet using plant proteins such as textured soy proteins helps in muscle gain and improves metabolic health, body composition, and weight maintenance as they are low in calories and higher in fiber and essential nutrients. For instance, in 2022, according to the Plant Based Foods Association, a trade organization that represents the interests of plant-based food companies, Plant-based foods, maintained 6.6% sales growth in 2022, up from 5.9% in 2021, with a 10% increase in average retail price. Therefore, the increase in demand for protein-rich foods is dictating the demand for the textured soy protein market.

Key Industry Players
Major companies operating in the textured soy protein market include Archer Daniels Midland Company, Bremil Group, Cargill Incorporated, Crown Soya Protein Group, Du Pont De Nemours and Company, Shandong Yuxin Bio-Tech Co. ltd., Sonic Biochem Extractions Ltd., Wilmar International Ltd., Hung Yang Foods Co. Ltd., Bunge Ltd., Hoya Foods Inc., Solae LLC, Bob’s Red Mill Natural Foods., Fuji Oil Asia Pte. Ltd., Linyi Shansong Biological Products Co. Ltd., Food Ingredient Technology Co. Ltd., Victoria Group SRL, Crown Soya Protein Group, Food Chem International Corporation, MGP Ingredients Inc., Batory Foods Inc., CHS Inc., Gushen Biological Technology Group Co. Ltd., Nutra Food Ingredients LLC, Shandong Wonderful Industrial Group Co. Ltd., International Flavors & Fragrances Inc., NOW Health Group Inc., Axiom Foods Inc., Puris

The textured soy protein market report table of contents includes:

1. Executive Summary

2. Textured Soy Protein Market Characteristics

3. Textured Soy Protein Market Trends And Strategies

4. Textured Soy Protein Market – Macro Economic Scenario

5. Global Textured Soy Protein Market Size and Growth

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31. Global Textured Soy Protein Market Competitive Benchmarking

32. Global Textured Soy Protein Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Textured Soy Protein Market

34. Textured Soy Protein Market Future Outlook and Potential Analysis

35. Appendix