Textured Soy Protein Market is Forecasted to Surpass US$ 2.13 Billion by 2033: Fact.MR Analysis

Textured Soy Protein’s versatility as a meat substitute in various cuisines and food products is a primary driver helping to shape the textured soy protein market

Rockville , Oct. 10, 2023 (GLOBE NEWSWIRE) — As per Fact.MR, a provider of market research and competitive intelligence, the global Textured Soy Protein Market is forecasted to reach a value of US $2.13 Bn by late 2033 and grow at a 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.

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Key Segments of Textured Soy Protein Industry Research Report

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 is anticipated to rise at a CAGR of 7% during the forecast period to hit the US $599.3 Mn value. This is a result of the US becoming highly engaged in the vegan movement.
• Because of the surging popularity of non-dairy foods and beverages in the United Kingdom and its demand for soy products, the market is projected to rise at a CAGR of 5.8% during the forecast period (2023-2033).
• During the forecast period (2023-2033), the market in South Korea is likely to expand at a CAGR of 5.4%.

The rising demand for plant-based protein sources heightened awareness of the health benefits associated with textured soy protein, and a growing adoption of sustainable and eco-friendly food options – Says FACTMR Expert

Market Competition

In this intensely competitive landscape, the increasing demand for plant-based protein sources has heightened awareness of the health benefits associated with textured soy protein. ADM, Cargill, DowDupont, Wilmar International, Victoria Group, Bremil Group, Linyi Shansong Biological Products, and Shandong Yuxin Bio-Tech are among the prominent participants in the market. Key companies have been adopting various strategies such as expanding customer technical service centers, and production capabilities in various untapped markets.

• In 2018, Roquette Frères enlarged its Customer Technical Service Centre (CTS) for food in Tokyo due to the increasing demand for plant-based protein in Japan and other Asian markets.
• In 2019, ADM bolstered its production capabilities in Brazil by constructing a new facility dedicated to soy protein production. This unit specializes in crafting a range of functional protein isolates and concentrates to enhance ADM’s existing product offerings.
• In 2020, ADM ramped up its manufacturing of non-genetically modified organism (non-GMO) vegetable protein to meet the rising market interest in non-GMO soy protein. This expansion took place at its facility located in Europoort, Netherlands.
• Regarding CHS Inc., their Ultra-Soy® textured vegetable proteins have received certifications. They are recognized as Kosher Pareve, overseen by the Union of Orthodox Jewish Congregations of America, and Halal, under the supervision of the Islamic Food and Nutrition Council of America (IFANCA).

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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.

Checkout More Related Studies Published by Fact.MR Research:

Non-GMO Soy Protein Market: Expanding at a CAGR of 4.8%, the global non-GMO soy protein market is expected to increase from a valuation of US$ 2.5 billion in 2023 to US$ 4 billion by the end of 2033. The use of non-GMO soy protein concentrates is predicted to rise at a CAGR of 5.2% through 2033.

Soy Protein Hydrolysate Market: The global soy protein hydrolysate market is valued at US$ 1.11 billion in 2023 and is estimated to end up at US$ 1.83 billion by 2033, advancing at a CAGR of 5.1% from 2023 to 2033 (forecast period).

Soybean Oil Market: The global soybean oil market is projected to expand steadily at a CAGR 5.1% value, during the forecast period 2022-2032. In the year 2022, the market size is projected to expand and gain a global market valuation of US$ 21 Billion.

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