Textured Soy Protein Market Size Is Expected To Reach USD 2.2 Billion By 2030

 San Francisco, 30 Aug 2023: The Report Textured Soy Protein Market Size, Share & Trends Analysis Report By Product (Textured Defatted Soy Flour (TSF), Textured Soy Protein Concentrate (TSPC), Textured Soy Protein Isolate), By Type, By Application, By Region, And Segment Forecasts, 2023 - 2030

The global textured soy protein market size is expected to reach USD 2.2 billion by 2030, expanding at a CAGR of 13.2%, according to a new report by Grand View Research, Inc. The growth is primarily driven by the increasing demand for plant-based protein alternatives, particularly in the food and beverage industry. As more consumers adopt vegetarian or vegan diets or reduce their meat consumption for health or environmental reasons, there is a growing need for high-quality, affordable, and versatile sources of protein.

Textured soy protein, also known as textured vegetable protein, provides a viable solution to this demand, as it is derived from soybeans and offers a meat-like texture and flavor when rehydrated. Additionally, the rising awareness about the health benefits of soy protein, such as its ability to lower cholesterol levels and reduce the risk of heart disease, has further boosted the market growth.

Food and beverage manufacturers are incorporating textured soy protein into a wide range of products, including meat substitutes, snacks, bakery, and confectionery products, to cater to the changing dietary preferences of consumers. Furthermore, the increasing popularity of soy-based products in emerging economies, such as China and India, due to their cost-effectiveness and nutritional value, is also driving the global market for textured soy protein.

Moreover, the increasing investment by manufacturers in R&D activities to develop innovative products and formulations using textured soy protein is driving the market’s growth. For instance, manufacturers are developing new varieties of textured soy protein with improved texture, flavor, and nutritional value to meet the changing demands of consumers. The rising demand for organic and non-GMO soy-based products is also driving the growth, as consumers are willing to pay a premium for products that are free from harmful chemicals and genetically modified organisms.

In November 2022, IFF introduced Supro Tex, an ingredient made from soy-based plant protein that can replicate the texture of meat. With a protein content of 80%, it is suitable for creating plant-based alternatives for beef, chicken, pork, and lamb dishes. The launch of Supro Tex is a key aspect of IFF's Re-Imagine Protein initiative, which aims to drive growth in the plant-based industry.

Access Research Report of Textured Soy Protein Market @ https://www.grandviewresearch.com/industry-analysis/textured-soy-protein-market

Textured Soy Protein Market Report Highlights

• The textured soy protein concentrate product led the market in terms of revenue in 2022, owing to its high protein content and increasing demand across the food & beverages end-use industry
• Organic product type is expected to witness the fastest growth over the forecast period. The continuous rise in demand for organic food products due to health benefits associated with organically grown soybeans is supporting the growth of this segment
• Food and beverages is expected to be the fastest-growing application segment during the projected period. The increasing demand for textured soy protein in food products from end users owing to its nutritional composition is primarily supporting its growth
• North America is expected to dominate the market in terms of revenue share over the forecast period. The rising popularity of vegan and vegetarian diets is fueling the demand for textured soy protein, as these diets typically rely heavily on plant-based protein sources

Textured Soy Protein Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 942.6 million
Revenue forecast in 2030	USD 2.2 billion
Growth rate	CAGR of 13.2% from 2022 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

List of Key Players in the Textured Soy Protein Market

• Archer Daniels Midland Company (ADM)
• Cargill Inc.
• Bunge Limited
• International Flavors & Fragrances Inc.
• Bremil Group
• Sonic Biochem
• Victoria Group
• Crown Soya Protein Group
• Shandong Yuxin Biotechnology Co., Ltd.
• Linyi Shansong Biological Products Co., Ltd.

Access Press Release of Textured Soy Protein Market @ https://www.grandviewresearch.com/press-release/global-textured-soy-protein-market