Textured Vegetable Protein Market to Reach $4.3 Billion, Globally, by 2035 at 9.4% CAGR: Allied Market Research

The growth of the textured vegetable protein market is driven by factors such as rise in plant-based diet adoption, health, and sustainability awareness, expanding veganism, and advancements in food processing technology.

WILMINGTON, DEL., Aug. 19, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Textured Vegetable Protein Market by Product Type (Textured Soy Protein and others), End User (Business to and Business and Business to Consumer), and Form (Granules, Flakes, Chunks, Others): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the "textured vegetable protein market" was valued at $1.5 billion in 2023, and is estimated to reach $4.3 billion by 2035, growing at a CAGR of 9.4% from 2024 to 2035.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A11155

Prime determinants of growth 

The textured vegetable protein market is primarily driven by rise in consumer shift towards plant-based diets due to increased health awareness and environmental concerns, thus boosting demand for meat alternatives like textured vegetable protein. The expanding vegan and vegetarian population globally contributes significantly to market growth. Moreover, textured vegetable protein has high protein content, nutritional benefits, and ability to mimic meat texture make it an attractive option for health-conscious consumers. Advancements in food processing technologies enhance taste and texture of textured vegetable proteins, further driving its adoption. Furthermore, the convenience of textured vegetable protein products, with their long shelf life and easy preparation, appeals to busy lifestyles and drives the growth of the market.

Report coverage & details:

The textured soy protein segment to maintain its leadership status during the forecast period

By type, the textured soy protein segment held the highest market share in 2023, accounting for more than three-fifths of the textured vegetable protein market revenue and is estimated to maintain its leadership status during the forecast period. Soy is one of the most widely cultivated and economically significant legumes globally, providing a readily available and cost-effective source for textured protein production. Moreover, soy protein possesses excellent functional properties, including high protein content, desirable texture, and ability to absorb flavors, making it a versatile ingredient for food manufacturers. Textured soy protein is a complete protein, containing all essential amino acids necessary for human health, thus appeals to consumers seeking nutritious meat substitutes. Furthermore, soy's neutral flavor profile allows for easy utilization into various dishes and enables the creation of a wide range of meat analogs, such as burgers, sausages, and nuggets.

Procure Complete Report (280 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/textured-vegetable-protein-market

The chunks segment to maintain its leadership status during the forecast period

By form, chunks segment held the highest market share in 2023, accounting for nearly one third of the global textured vegetable protein market revenue and is estimated to maintain its leadership status during the forecast period. Textured vegetable protein chunks offer a meat-like texture and appearance which makes them a popular choice for consumers seeking plant-based alternatives to meat products. This resemblance to meat enhances the acceptability of textured vegetable protein chunks among both vegetarians and flexitarians looking to reduce their meat consumption without sacrificing texture or taste.  Textured vegetable protein chunks are highly versatile and are used in a wide range of dishes, including stir-fries, stews, casseroles, and pasta sauces, providing consumers with numerous options for incorporating plant-based protein into their diets. Moreover, textured vegetable protein chunks are convenient to store and prepare and require minimal cooking time and offer a longer shelf life compared to fresh meat alternatives.

The business-to-consumer segment to maintain its leadership status throughout the forecast period

By end user, the business-to-consumer segment held the highest market share in 2023, accounting for nearly three-fifths of the global textured vegetable protein market revenue and is estimated to maintain its leadership status during the forecast period. Direct interaction with end consumers facilitates designed marketing strategies and brand positioning. B2C channels include supermarkets, online retail platforms, specialty stores, and convenience stores, offering a wide reach to a diverse consumer base. B2C channels provide a platform for brands to communicate directly with health-conscious consumers seeking plant-based alternatives. Moreover, these channels allow for effective product placement, packaging, and labeling to highlight the nutritional benefits and versatility of textured vegetable protein. 

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/A11155

North America to maintain its dominance by 2035

Based on region, Asia-Pacific is anticipated to dominate the market with the largest share during the forecast period. Asia-Pacific has a large and diverse population with varying dietary preferences, including a significant vegetarian and vegan population. This demographic shift towards plant-based diets drives the demand for textured vegetable protein as a meat alternative, particularly in countries such as China, India, and Japan. In addition, the region is a major hub for soybean cultivation, which serves as a primary raw material for textured vegetable protein production. Moreover, the abundant supply of soybeans ensures a steady and cost-effective source of ingredients for textured vegetable protein manufacturers which contributes in the growth of textured vegetable protein market in the Asia-Pacific region.

Leading Market Players: -

• Archer Daniels Midland Company
• Axiom Foods
• Cargill Incorporated Inc.
• Du Pont de Nemours and Company
• Foodchem International Corporation
• Hung Yang Foods Co., Ltd.
• Sonic Biochem Extraction Pvt Ltd
• Sudzucker Group (Beneo)
• Victoria Group A.D.
• Wilmar International Limited

The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter's five forces analysis to determine the factors affecting market growth.

Trending Reports in Industry:

Textured Protein Market Size, Share, Competitive Landscape, 2023-2032

Textured Soy Protein Market Analysis and Industry Forecast, 2024-2034

Textured Pea Protein Market Growth and Trend Analysis, 2024-2032

Soy Protein Isolate Market: Global Opportunity Analysis and Forecast, 2023-2032

Plant Protein Market Size, Share Analysis and Growth Forecast, 2024-2034

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-8007925285
Fax: +1-800-792-5285
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/food-and-beverages
Follow Us on | Facebook | LinkedIn | YouTube

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 

SOURCE Allied Market Research