Market Size

The global textured vegetable protein market size was valued at USD 1.2 billion in 2020 and is estimated to reach a value of USD xx billion in 2027. The textured vegetable protein market analysis shows that it will grow with a CAGR of 6.2% over the forecast period of 2021 to 2027.

Market Insight

There is an increase in consumer demand for textured vegetable protein because people are demanding meats like their replacements, and they are becoming more health conscious of nutrition as a Because of the growth of the flexitarian and vegan populations in North America, food and beverage technology is expanding. In the Asia Pacific, food and beverage technologies are not advancing as rapidly. Recent advances in plant-based textured protein formulations have promoted a variety of foods has gained a meaty texture with functional and nutritional benefits. A major benefit is its ability to replicate the textures and flavors of meat patties, sausages, and nuggets as well as to help to encourage their growth is its proliferation because of imitation is so many consumers like its taste. Non- meat based meat substitutes are derived from plant matter and made to appeal to those who don't eat meat. Flexitarians have been trying to cut down on their meat consumption and are aspiring to be a larger meat-eater segment of the population. Several meat alternatives have been introduced to produce a beef-like taste and texture, resulting in an increase in plant-based and meat analogs such as meat and meat analogs producing the same taste and characteristics as meat.

Market Driver

The expanding production of factory farms has made things worse, not only the antibiotic resistance problem but also the climate crisis. the consumption of animal products is in the food market is at the whim of consumers and can fluctuate dramatically. When people realized that the cattle and pork had run out of supplies, a new meat substitute manufacturers, such as Beyond Meat (US) and Impossible Foods (US), found themselves competing to increase their sales. Meat alternatives, including competitor Beyond Meat (US), reported an increase in revenue of 141% in the first quarter of this year to USD97 million for the year, which will rise to USD 45 million in 2029. Vegetable-derived meat alternatives tend to have been made primarily from materials which are derived from the meat industry for textured meat use. Additionally, they may be a good source of non-meat foods for vegetarians who must meet certain dietary requirements to avoid potential health risks of red meat. reduced demand for meat alternatives is dependent on the physical and food texture and flavor characteristics of those alternative foods. A study published by the Good Food for the Planet institute claims that food alternatives can only thrive if they have a taste comparable to meat, and texture comparable to meat, otherwise it is a gamble that will cause people to decline to use them, claims the 2019 Good Food Institute (GFI). This caused the meat-like texture of a textured vegetable to have the effect of further expanding the understanding of its role in the climate models.

Market Opportunity

Protein-only products, such as meat-based and alternative meat products are predicted to increase in plant-placing of plant- based p and serve as a substitute for animal protein intake. Many influential young people now say that "The DUMB diet is more than a passing fad: they consider it to be a FLEXITARY lifestyle. According to the Food Science and Health Database, “22 million British citizens identify as 'flexitarians' a term that refers to a lifestyle, not as a diet that is becoming increasingly popular among influential millennials. Thus, the vegan and flexitarian population is forecasted to boost the demand for textured vegetable protein, contributing to a good opportunity for the market growth in the next few years. With the increased cultivation of soy and wheat in developing regions such as South America and Asia, there has been an augmentation of soybean production, such as textured vegetable protein cultivars. Other less expensive ingredients are currently used to lower the cost of Beyond Meat's meat-substitute costs, like sunflower and lupin seeds. large-capacity manufacturing methods used in the production of plant-based foods like production of vegan brands (Canada) serve to lower the cost of Rebelly's (US) meat-based products as well as they do for other brands. Manufacturers of more interested in keeping the cost of their food products can have the option of obtaining a license from the company to use animals or helping it become more cost-effective by abstaining from using animals.

Research Methodology

Textured Vegetable Protein market report consists of market analysis including both primary and secondary research. Primary research comprises of the interaction between manufacturers, industry experts channel partners, and end users, while the secondary research presents an analytical interpretation of relevant published databases, which contains details like company annual reports, and financial reports, white papers, and purchased databases. For single, team and corporate user license, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an enquiry for the pricing details.

About Us

Market Insight Solutions is a leading market research firm which caters to a diverse portfolio of research campaigns. We are one of the fastest growing research organization led by an extensive team of individuals. Our team has individuals with more than 10 years of experience in diverse research domains. Our strategic insights aim at providing credible and practical solutions to meet the specific requirements of our clients. We offer market studies on basis of facts across cross domains.

Segments covered in the report

Textured Vegetable Protein Market Size and Outlook by Type

• Slices
• Flakes
• Chunks
• Granules

Textured Vegetable Protein Market Size and Outlook by Source

• Soy
• Pea
• Wheat

Textured Vegetable Protein Market Size and Outlook by Form

• Dry
• Wet

Textured Vegetable Protein Market Size and Outlook by Application

• Meat extenders
• Meat analogues
• Cereals & snacks
• Others

Textured Vegetable Protein Market Size and Outlook by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

Companies Profiled in this Report

• ADM (US)
• Cargill (US)
• CHS (US)
• Roquette Freres (France)
• DuPont (US)
• Wilmar International (Singapore)
• The Scoular Company (US)
• Puris Foods (US)
• VestKorn (Norway)
• MGP Ingredients (US)

Actionable Outcomes

Our Market Report offers a thorough assessment of estimations and projections on the market dynamics. Further, it helps in the implementation of these results as they show tangible benefits to business stakeholders and industry entities decisions as leaders.

Strategic Planning

Every business needs to understand how their product will grow in the forthcoming years. With the current uncertainness due to the COVID-19 scenario, this analysis becomes significant to understand past disruptions and boost the preparedness for the next steps of decision. We at Market Insight Solutions are trying to break down the complex market for the business leaders through strategic insights and resilience in unpredictable situations.

Highlights of the report:

• COVID-19 impact on Textured Vegetable Protein market size
• Analyzing the regional market for the growth factors, estimated analysis and its penetration to the global market
• Understanding the dynamics of the parent market
• Prime fluctuations of the market dynamics
• Evaluation of the market opportunities
• Market segmentation and comprehensive analysis in the second or third level
• Reporting and evaluation of recent industry developments
• Analysis of market share and developments
• Detailed company profiling of leading companies
• Opportunities to newer markets in global and regional markets
• Analyzing the trajectory line of the business
• Analyze Textured Vegetable Protein market share
• Measures to consider for Textured Vegetable Protein market