Textured Soy Protein Market Global Outlook, Research, Trends & Forecast by Fact MR

The global textured soy protein market (질감 있는 콩 단백질 시장) is projected to reach a value of US $2.13 billion by the end of 2033, growing at a compound annual growth rate (CAGR) of 6.5%.

Textured Soy Protein Market Global Outlook, Research, Trends & Forecast by Fact MR

The global textured soy protein market (질감 있는 콩 단백질 시장) is projected to reach a value of US $2.13 billion by the end of 2033, growing at a compound annual growth rate (CAGR) of 6.5%. Textured soy protein (TSP), made from soy flour, is a plant-based protein with impressive benefits. It's a protein powerhouse, containing around 50-70% protein, making it an excellent meat substitute. Low in fat and cholesterol-free, it is heart-healthy and aids in weight management. Moreover, it can be used in various dishes making it versatile and its high shelf life makes it a suitable choice. Also, it is an economical choice as it is wallet-friendly. Moreover, TSP is eco-friendly, requiring fewer resources than meat production. The market’s growth is primarily driven by the increasing adoption of plant-based diets due to health and environmental concerns. As more consumers seek protein alternatives, TSP, with its high protein content and versatility, emerges as a popular choice.

Key Takeaways

The United States market for textured soy protein is expected to rise at a CAGR of 7% during the forecast period, reaching a value of US $599.3 million. This growth is driven by the increasing engagement in the vegan movement across the country, which has significantly boosted the demand for plant-based protein alternatives. As more consumers adopt vegan and vegetarian diets, the need for textured soy protein as a versatile ingredient in various food products continues to expand.

In the United Kingdom, the market is projected to grow at a CAGR of 5.8% from 2023 to 2033. This growth is fueled by the rising popularity of non-dairy foods and beverages, as well as a strong demand for soy-based products. Similarly, in South Korea, the textured soy protein market is expected to expand at a CAGR of 5.4% during the same period. The increasing awareness of health benefits associated with soy protein and the shift towards plant-based diets are key factors contributing to the market's growth in these regions.

Market Opportunities

Growing health consciousness and the surge in vegetarianism and veganism have propelled the demand for plant-based proteins, particularly textured soy protein. Recognized for its nutritional value and versatility in creating meat analogs and dairy substitutes, textured soy protein caters to the preferences of health-conscious consumers. Additionally, the market thrives on the increasing consumer focus on protein-rich foods, driven by a desire for low-carb and low-fat options. The demand for ready-to-eat products, including functional beverages containing textured soy protein, further contributes to the market's upward trajectory.

List of Key Companies Profiled in The Report

  • DuPont Nutrition & Health
  • Kerry Group PLC
  • Cargill Inc.
  • Solae LLC
  • Bunge Limited
  • ADM
  • International Flavors & Fragrances Inc.
  • Bremil Group
  • Sonic Biochem
  • Victoria Group
  • Others

Winning strategies

  • Leading players should enhance their nutritional value by adding essential vitamins, minerals, or other beneficial ingredients. This helps meet specific dietary needs and align with current health trends. For example, fortifying with vitamins like B12 and minerals like iron caters to those on plant-based diets.
  • Prominent players in the market should prioritize consistent investment in quality assurance and control measures. This commitment is vital for ensuring the ongoing production of high-quality textured soy protein products, a key factor in establishing and preserving customer trust and loyalty.
  • Obtaining certifications like gluten-free, kosher, halal, or organic is a smart move in the industry. These certifications cater to specific dietary needs and preferences. For example, being gluten-free is crucial for those with gluten sensitivity.

Competitive Landscape

Companies in the soy product market are investing in research to enhance taste by incorporating sugar molecules, aiming to mitigate the sometimes unpleasant flavor associated with soy. These efforts leverage soy's cost-effectiveness and nutritional value. Leading firms are also expanding production capacities to meet growing demand, emphasizing quality control, adhering to product standards, and optimizing supply chain management for increased market revenue. Notably, Roquette Frères expanded its Tokyo facility in response to the rising demand for plant-based protein in Asia, ADM built a new soy protein production unit in Brazil, and increased non-GMO vegetable protein production in the Netherlands. CHS Inc.'s Ultra-Soy® textured vegetable proteins are Kosher Pareve and Halal certified, ensuring diverse market access.

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