Market Overview of theTextured Soy Protein Market
Global Textured Soy Protein Market Estimated At USD 2.53 Billion In The Year 2023, Is Projected To Reach A Revised Size Of USD 5.23 Billion By 2032, Growing At A CAGR Of 8.4% Over The Analysis Period 2024-2032.
- Textured soy protein is a meat alternative product that's prepared from soybeans, although it's also possible to produce a similar meat alternative product from other foods. It's a highly processed food item that's produced by separating (isolating) the soy protein from other components found in whole soybeans. Defatted soy protein is flattened into granules or chunks, and usually dried and rehydrated before cooking. Additionally, textured soy protein is made from soy flour that has had the fat removed from it. The flour is cooked under pressure and then dried and this process is called "extrusion cooking." It is a thermo-mechanical process, which combines high pressure, high shear, and high heat to form a product that can be molded into various forms for different uses. There are several variations to the process and this can affect the resulting product's texture, taste, and nutritional make-up.
- Furthermore, soy protein provides all the amino acids humans requirements. Due to it is a complete source of protein, some medical experts recommend it as a potentially healthier alternative for meat. According to the research study, consuming soybeans can lower cholesterol and overcome the risk of cardiovascular disease. Texturized soy protein stands out when compared to other protein sources since it is environmentally friendly. The market is also observing a healthy growth rate owing to a rise in demand from various end-use industries such as dairy substitutes, bakeries, and others.
Market Dynamics And Factors For The Textured Soy Protein Market
Drivers:
- An increasing trend of health-conscious foods and customer interest in plant-based protein have affected the textured soy protein market. In recent years, vegetarianism has to gain popularity. The product's importance in decreasing the incidence of heart disease, osteoporosis, and some types of cancer is of particular relevance. Owing to the product's high protein content and adaptability in the development of meat analogs and milk substitutes, textured soy protein is a nutritious solution for vegetarians.
- Growing soy crop cultivation in emerging regions such as South America and the Asia Pacific, in addition to the already widespread cultivation of soybean over the world, has raised the accessibility of soy products such as textured soy proteins. Raw materials for deriving textured soy protein are therefore easy to produce from contract farmers or oilseed crushers providing soy meal. The low processing costs related to textured soy proteins are suitable for the operational demands of manufacturers and thereby allow the processors to spend sufficiently on product development. As a result of these trends, the cost of textured soy protein is lower cost when compared to that of other protein sources such as meat, whey proteins, and dairy. In addition, the prices of conventional dairy products have increased in the recent past, and textured soy protein, being one of the major plant sources of protein, is one of the most suitable substitutes considered in terms of price.
Restraints:
- The European Union (EU) has strict regulations in place for genetically modified (GM) crops owing to the risks related to humans and the environment. Soy, one of the highest sources of plant protein and the largest plant-based protein ingredient, if genetically modified in seed form, could have severe effects if consumed and is hence limited in the European region. The revolting flavor of soy-derived products including oil, chunks, and others is resulting in slower adoption of these products, which could hinder sales growth of the global textured soy protein market.
Opportunities:
- Rising consciousness associated with the cheaper cost and largest nutritional value of these products among processed food producers and consumers, and the possibility of masking the unpleasant flavor of soy-based products are factors anticipated to producer lucrative opportunities for players planning to grab the idea and obtain a large customer base. Furthermore, the trend of consumer preference for healthy products is growing, wherein marketing campaigns are designed for highlighting their use and health benefit claims. Emerging economies such as China and India are projected to experience a rise in demand for textured soy protein in the upcoming years from these regions. In addition, the Asia Pacific region offers a cost advantage in terms of production and processing. High demand, coupled with low cost of production, would help the providers, eventually turning the growth of the textured soy protein market in the region.
Market Segmentation
Segmentation Analysis of Textured Soy Protein Market:
- Based on Type, non-GMO textured soy proteins are anticipated to dominate the market over the forecast period. Non-GMO textured soy proteins are rich protein products that are also high in dietary fibers, contain no cholesterol, lactose, or casein, minerals, and are free from microbiological contamination. The organic segment is estimated to rise at the highest CAGR over the forecast period. Natural textured soy proteins are obtained from organic soy, in the form of isolates, concentrates, and flour, and find wide-scale applications in snacks, meat alternatives, nutritional supplements, and extenders. The need for organic soy protein is growing rapidly, with more people becoming health aware and demanding organic products. The busy lifestyle of consumers has led to the growing demand for organic food & beverage products containing textured soy proteins. Producers are targeting product innovation in organic soy protein to serve the rising demand.
- Based on the Source, soy protein concentrates are expected to account for the maximum market share during the forecast period. Soy protein concentrates are easily digestible, spray-dried forms, and accessible in granule, flour, and cheap. They are preferable for consumers of all age groups, including children, pregnant & lactating women, and the geriatric population. Based on the volume, the soy protein isolates segment was the second-largest owing to its higher protein content (90%). Soy protein isolates are also estimated to be the fastest-growing, during the forecast period, both in terms of value and volume.
- Based on Application, textured soy proteins are becoming popular owing to the rising demand for meat alternatives, which is probably to accelerate the segment growth. Soya proteins act as a significant role as a source of complementary & supplementary proteins and help improve the solubility, viscosity, texture, emulsification, water absorption, and anti-oxidation, which in turn, boosts their demand. Furthermore, soya supports in preventing various chronic diseases, such as heart disease, osteoporosis, hypertension, diabetes, certain cancers. Additionally, it also helps in maintaining body function and is a source of major amino acids. Hence, it has a massive demand in the food application segment.
Regional Analysis of Textured Soy Protein Market:
- The North American region is expected to dominate the textured soy protein market over the forecast period. Among customers soy foods, functional foods, and dairy replacers are estimated to be the fastest-increasing segments in North America. The demand for textured soy protein is rising at a high rate; switching consumer preference from meat to plant protein is one of the main reasons turning the market for soy protein. Also, soy-based proteins are a major source of protein for vegans globally. The high nutritional profile, low carbon footprint, and low price of plant-sourced protein are turning the utilization of these proteins in food applications. The global demand for textured soy protein is rising significantly, especially in emerged economies such as the US and nations in the European Union.
- In the Asia Pacific region, the market is driving by the countries such as China and India. Demand for textured soy protein in China is extremely high compared to other economies in the region. Protein processing firms in China are fast expanding as more and more players enter the market planning to hold a market share. Significantly growing demand for textured vegetable protein products among health-conscious consumers in the country is one of the key drivers for the China textured soy protein market. Moreover, Indian farmers are probably to grow their soybean planting area by more than a tenth in 2021, as record-high prices for the oilseed and raised utilization of soy products may convince some to abandon competing crops.
Players Covered in Textured Soy Protein market are :
- Archer Daniels Midland Company (US)
- Cargill Inc. (the US)
- Bremil Group (Brazil)
- Shandong Yuxin Bio-Tech (China)
- DowDuPont Inc(US)
- Sonic Biochem Extraction Pvt.Ltd (India)
- Victoria Group A. D. (Serbia)
- DPS/Dutch Protein & Services B.V. (Netherlands)
- Linyi Shansong Biological Products Co.Ltd. (China)
- Wilmar International Ltd (Singapore)
- Crown Soya Protein Group (China)
- Sonic Biochem (India)
- Hung Yang Foods Co.Ltd. (Netherlands) and other major players.
Key Industry Developments In Textured Soy Protein Market
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In March 2024, Azelis, a leading innovation service provider in specialty chemicals and food ingredients, announced a collaboration with Soy Austria, a prominent manufacturer of sustainable soy-based food ingredients. This partnership expanded Azelis' portfolio with natural, plant-based solutions, enhancing its offerings in the food industry. The collaboration reflected both companies' shared commitment to innovation and sustainability, delivering high-quality, eco-friendly solutions to customers.
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In July 2023, Bunge announced the construction of a new USD 500 million soybean processing facility in Morristown, Indiana. The fully integrated plant, set to open in mid-2025, was designed to produce soy protein concentrates and textured soy protein concentrates, catering to the growing plant-based foods market.
Textured Soy Protein Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 2.53 Bn. |
Forecast Period 2024-32 CAGR: |
8.4% |
Market Size in 2032: |
USD 5.23 Bn. |
Segments Covered: |
By Type |
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By Source |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
ā1.1 Research Objectives
ā1.2 Research Methodology
ā1.3 Research Process
ā1.4 Scope and Coverage
āā1.4.1 Market Definition
āā1.4.2 Key Questions Answered
ā1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
ā3.1 By Type
ā3.2 By Source
ā3.3 By Application
Chapter 4: Market Landscape
ā4.1 Porter's Five Forces Analysis
āā4.1.1 Bargaining Power of Supplier
āā4.1.2 Threat of New Entrants
āā4.1.3 Threat of Substitutes
āā4.1.4 Competitive Rivalry
āā4.1.5 Bargaining Power Among Buyers
ā4.2 Industry Value Chain Analysis
ā4.3 Market Dynamics
āā4.3.1 Drivers
āā4.3.2 Restraints
āā4.3.3 Opportunities
āā4.5.4 Challenges
ā4.4 Pestle Analysis
ā4.5 Technological Roadmap
ā4.6 Regulatory Landscape
ā4.7 SWOT Analysis
ā4.8 Price Trend Analysis
ā4.9 Patent Analysis
ā4.10 Analysis of the Impact of Covid-19
āā4.10.1 Impact on the Overall Market
āā4.10.2 Impact on the Supply Chain
āā4.10.3 Impact on the Key Manufacturers
āā4.10.4 Impact on the Pricing
Chapter 5: Textured Soy Protein Market by Type
ā5.1 Textured Soy Protein Market Overview Snapshot and Growth Engine
ā5.2 Textured Soy Protein Market Overview
ā5.3 Non-GMO
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size (2017-2032F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Non-GMO: Grographic Segmentation
ā5.4 Conventional
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size (2017-2032F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Conventional: Grographic Segmentation
ā5.5 Organic
āā5.5.1 Introduction and Market Overview
āā5.5.2 Historic and Forecasted Market Size (2017-2032F)
āā5.5.3 Key Market Trends, Growth Factors and Opportunities
āā5.5.4 Organic: Grographic Segmentation
ā5.6 Others
āā5.6.1 Introduction and Market Overview
āā5.6.2 Historic and Forecasted Market Size (2017-2032F)
āā5.6.3 Key Market Trends, Growth Factors and Opportunities
āā5.6.4 Others: Grographic Segmentation
Chapter 6: Textured Soy Protein Market by Source
ā6.1 Textured Soy Protein Market Overview Snapshot and Growth Engine
ā6.2 Textured Soy Protein Market Overview
ā6.3 Soy Protein Isolates
āā6.3.1 Introduction and Market Overview
āā6.3.2 Historic and Forecasted Market Size (2017-2032F)
āā6.3.3 Key Market Trends, Growth Factors and Opportunities
āā6.3.4 Soy Protein Isolates: Grographic Segmentation
ā6.4 Soy Protein Concentrates
āā6.4.1 Introduction and Market Overview
āā6.4.2 Historic and Forecasted Market Size (2017-2032F)
āā6.4.3 Key Market Trends, Growth Factors and Opportunities
āā6.4.4 Soy Protein Concentrates: Grographic Segmentation
ā6.5 Soy Flour
āā6.5.1 Introduction and Market Overview
āā6.5.2 Historic and Forecasted Market Size (2017-2032F)
āā6.5.3 Key Market Trends, Growth Factors and Opportunities
āā6.5.4 Soy Flour: Grographic Segmentation
Chapter 7: Textured Soy Protein Market by Application
ā7.1 Textured Soy Protein Market Overview Snapshot and Growth Engine
ā7.2 Textured Soy Protein Market Overview
ā7.3 Food Products
āā7.3.1 Introduction and Market Overview
āā7.3.2 Historic and Forecasted Market Size (2017-2032F)
āā7.3.3 Key Market Trends, Growth Factors and Opportunities
āā7.3.4 Food Products: Grographic Segmentation
ā7.4 Bakery Products
āā7.4.1 Introduction and Market Overview
āā7.4.2 Historic and Forecasted Market Size (2017-2032F)
āā7.4.3 Key Market Trends, Growth Factors and Opportunities
āā7.4.4 Bakery Products: Grographic Segmentation
ā7.5 Cereals & Snacks
āā7.5.1 Introduction and Market Overview
āā7.5.2 Historic and Forecasted Market Size (2017-2032F)
āā7.5.3 Key Market Trends, Growth Factors and Opportunities
āā7.5.4 Cereals & Snacks: Grographic Segmentation
ā7.6 Dairy Alternatives
āā7.6.1 Introduction and Market Overview
āā7.6.2 Historic and Forecasted Market Size (2017-2032F)
āā7.6.3 Key Market Trends, Growth Factors and Opportunities
āā7.6.4 Dairy Alternatives: Grographic Segmentation
ā7.7 Others
āā7.7.1 Introduction and Market Overview
āā7.7.2 Historic and Forecasted Market Size (2017-2032F)
āā7.7.3 Key Market Trends, Growth Factors and Opportunities
āā7.7.4 Others: Grographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
ā8.1 Competitive Landscape
āā8.1.1 Competitive Positioning
āā8.1.2 Textured Soy Protein Sales and Market Share By Players
āā8.1.3 Industry BCG Matrix
āā8.1.4 Ansoff Matrix
āā8.1.5 Textured Soy Protein Industry Concentration Ratio (CR5 and HHI)
āā8.1.6 Top 5 Textured Soy Protein Players Market Share
āā8.1.7 Mergers and Acquisitions
āā8.1.8 Business Strategies By Top Players
ā8.2 ARCHER DANIELS MIDLAND COMPANY
āā8.2.1 Company Overview
āā8.2.2 Key Executives
āā8.2.3 Company Snapshot
āā8.2.4 Operating Business Segments
āā8.2.5 Product Portfolio
āā8.2.6 Business Performance
āā8.2.7 Key Strategic Moves and Recent Developments
āā8.2.8 SWOT Analysis
ā8.3 CARGILL INC.
ā8.4 BREMIL GROUP
ā8.5 SHANDONG YUXIN BIO-TECH
ā8.6 DOWDUPONT INC
ā8.7 SONIC BIOCHEM EXTRACTION PVT.LTD
ā8.8 VICTORIA GROUP A. D.
ā8.9 DPS/DUTCH PROTEIN & SERVICES B.V.
ā8.10 LINYI SHANSONG BIOLOGICAL PRODUCTS CO.LTD.
ā8.11 WILMAR INTERNATIONAL LTD
ā8.12 CROWN SOYA PROTEIN GROUP
ā8.13 SONIC BIOCHEM
ā8.14 HUNG YANG FOODS CO.LTD.
ā8.15 OTHER MAJOR PLAYERS
Chapter 9: Global Textured Soy Protein Market Analysis, Insights and Forecast, 2017-2032
ā9.1 Market Overview
ā9.2 Historic and Forecasted Market Size By Type
āā9.2.1 Non-GMO
āā9.2.2 Conventional
āā9.2.3 Organic
āā9.2.4 Others
ā9.3 Historic and Forecasted Market Size By Source
āā9.3.1 Soy Protein Isolates
āā9.3.2 Soy Protein Concentrates
āā9.3.3 Soy Flour
ā9.4 Historic and Forecasted Market Size By Application
āā9.4.1 Food Products
āā9.4.2 Bakery Products
āā9.4.3 Cereals & Snacks
āā9.4.4 Dairy Alternatives
āā9.4.5 Others
Chapter 10: North America Textured Soy Protein Market Analysis, Insights and Forecast, 2017-2032
ā10.1 Key Market Trends, Growth Factors and Opportunities
ā10.2 Impact of Covid-19
ā10.3 Key Players
ā10.4 Key Market Trends, Growth Factors and Opportunities
ā10.4 Historic and Forecasted Market Size By Type
āā10.4.1 Non-GMO
āā10.4.2 Conventional
āā10.4.3 Organic
āā10.4.4 Others
ā10.5 Historic and Forecasted Market Size By Source
āā10.5.1 Soy Protein Isolates
āā10.5.2 Soy Protein Concentrates
āā10.5.3 Soy Flour
ā10.6 Historic and Forecasted Market Size By Application
āā10.6.1 Food Products
āā10.6.2 Bakery Products
āā10.6.3 Cereals & Snacks
āā10.6.4 Dairy Alternatives
āā10.6.5 Others
ā10.7 Historic and Forecast Market Size by Country
āā10.7.1 U.S.
āā10.7.2 Canada
āā10.7.3 Mexico
Chapter 11: Europe Textured Soy Protein Market Analysis, Insights and Forecast, 2017-2032
ā11.1 Key Market Trends, Growth Factors and Opportunities
ā11.2 Impact of Covid-19
ā11.3 Key Players
ā11.4 Key Market Trends, Growth Factors and Opportunities
ā11.4 Historic and Forecasted Market Size By Type
āā11.4.1 Non-GMO
āā11.4.2 Conventional
āā11.4.3 Organic
āā11.4.4 Others
ā11.5 Historic and Forecasted Market Size By Source
āā11.5.1 Soy Protein Isolates
āā11.5.2 Soy Protein Concentrates
āā11.5.3 Soy Flour
ā11.6 Historic and Forecasted Market Size By Application
āā11.6.1 Food Products
āā11.6.2 Bakery Products
āā11.6.3 Cereals & Snacks
āā11.6.4 Dairy Alternatives
āā11.6.5 Others
ā11.7 Historic and Forecast Market Size by Country
āā11.7.1 Germany
āā11.7.2 U.K.
āā11.7.3 France
āā11.7.4 Italy
āā11.7.5 Russia
āā11.7.6 Spain
āā11.7.7 Rest of Europe
Chapter 12: Asia-Pacific Textured Soy Protein Market Analysis, Insights and Forecast, 2017-2032
ā12.1 Key Market Trends, Growth Factors and Opportunities
ā12.2 Impact of Covid-19
ā12.3 Key Players
ā12.4 Key Market Trends, Growth Factors and Opportunities
ā12.4 Historic and Forecasted Market Size By Type
āā12.4.1 Non-GMO
āā12.4.2 Conventional
āā12.4.3 Organic
āā12.4.4 Others
ā12.5 Historic and Forecasted Market Size By Source
āā12.5.1 Soy Protein Isolates
āā12.5.2 Soy Protein Concentrates
āā12.5.3 Soy Flour
ā12.6 Historic and Forecasted Market Size By Application
āā12.6.1 Food Products
āā12.6.2 Bakery Products
āā12.6.3 Cereals & Snacks
āā12.6.4 Dairy Alternatives
āā12.6.5 Others
ā12.7 Historic and Forecast Market Size by Country
āā12.7.1 China
āā12.7.2 India
āā12.7.3 Japan
āā12.7.4 Singapore
āā12.7.5 Australia
āā12.7.6 New Zealand
āā12.7.7 Rest of APAC
Chapter 13: Middle East & Africa Textured Soy Protein Market Analysis, Insights and Forecast, 2017-2032
ā13.1 Key Market Trends, Growth Factors and Opportunities
ā13.2 Impact of Covid-19
ā13.3 Key Players
ā13.4 Key Market Trends, Growth Factors and Opportunities
ā13.4 Historic and Forecasted Market Size By Type
āā13.4.1 Non-GMO
āā13.4.2 Conventional
āā13.4.3 Organic
āā13.4.4 Others
ā13.5 Historic and Forecasted Market Size By Source
āā13.5.1 Soy Protein Isolates
āā13.5.2 Soy Protein Concentrates
āā13.5.3 Soy Flour
ā13.6 Historic and Forecasted Market Size By Application
āā13.6.1 Food Products
āā13.6.2 Bakery Products
āā13.6.3 Cereals & Snacks
āā13.6.4 Dairy Alternatives
āā13.6.5 Others
ā13.7 Historic and Forecast Market Size by Country
āā13.7.1 Turkey
āā13.7.2 Saudi Arabia
āā13.7.3 Iran
āā13.7.4 UAE
āā13.7.5 Africa
āā13.7.6 Rest of MEA
Chapter 14: South America Textured Soy Protein Market Analysis, Insights and Forecast, 2017-2032
ā14.1 Key Market Trends, Growth Factors and Opportunities
ā14.2 Impact of Covid-19
ā14.3 Key Players
ā14.4 Key Market Trends, Growth Factors and Opportunities
ā14.4 Historic and Forecasted Market Size By Type
āā14.4.1 Non-GMO
āā14.4.2 Conventional
āā14.4.3 Organic
āā14.4.4 Others
ā14.5 Historic and Forecasted Market Size By Source
āā14.5.1 Soy Protein Isolates
āā14.5.2 Soy Protein Concentrates
āā14.5.3 Soy Flour
ā14.6 Historic and Forecasted Market Size By Application
āā14.6.1 Food Products
āā14.6.2 Bakery Products
āā14.6.3 Cereals & Snacks
āā14.6.4 Dairy Alternatives
āā14.6.5 Others
ā14.7 Historic and Forecast Market Size by Country
āā14.7.1 Brazil
āā14.7.2 Argentina
āā14.7.3 Rest of SA
Chapter 15 Investment Analysis
Chapter 17 Analyst Viewpoint and Conclusion
Textured Soy Protein Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 2.53 Bn. |
Forecast Period 2024-32 CAGR: |
8.4% |
Market Size in 2032: |
USD 5.23 Bn. |
Segments Covered: |
By Type |
|
|
By Source |
|
||
By Application |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Textured Soy Protein Market research report is 2024-2032.
Archer Daniels Midland Company (US), Cargill Inc. (US), Bremil Group (Brazil), Shandong Yuxin Bio-Tech (China), DowDuPont Inc (US), Sonic Biochem Extraction Pvt. Ltd (India), Victoria Group A. D. (Serbia), DPS/Dutch Protein & Services B.V. (Netherlands), Linyi Shansong Biological Products Co.Ltd. (China), Wilmar International Ltd (Singapore), Crown Soya Protein Group (China), Sonic Biochem (India), Hung Yang Foods Co.Ltd. (Netherlands), and other major players.
The Textured Soy Protein Market is segmented into type, source, application, and region. By Type, the market is categorized into Non-GMO, Conventional, Organic, and Others. By Source, the market is categorized into Soy Protein Isolates, Soy Protein Concentrates, and Soy Flour. By Application, the market is categorized into Food Products, Bakery Products, Cereals & Snacks, Dairy Alternatives, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Textured soy protein is a meat alternative product that's prepared from soybeans, although it's also possible to produce a similar meat alternative product from other foods.
Global Textured Soy Protein Market Estimated At USD 2.53 Billion In The Year 2023, Is Projected To Reach A Revised Size Of USD 5.23 Billion By 2032, Growing At A CAGR Of 8.4% Over The Analysis Period 2024-2032.