Industry Background:
Textured vegetable proteins can be defined as food products made from edible protein sources and characterized by having structural integrity and identifiable texture such that each unit will withstand hydration in cooking and other procedures used in preparing the food for consumption. They are also known as textured soy protein, soy meat, or soya chunks. These products have been transformed from a flour-type material into one which has a meat-like texture. The resulting textured vegetable protein products offer fibrous and chewiness character. It is considered a low-cost healthy food especially if combined with vegetables during cooking.
According to AMA Research, the market for Textured Vegetable Protein is expected to register a CAGR of 6.5% during the forecast period to 2030. This growth is primarily driven by Growing Health Consciousness among the People
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Archer Daniels Midland (United States), Cargill Corporation (United States), CHS Inc. (United States), E. I. du Pont de Nemours and Company (United States), Gushen Biotechnology Group Co., Ltd. (China), Victoria Group (Serbia), Wonderful Industrial Group (China), Scents Holdings (China), Shansong Biological Products (China) and FUJIOIL (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2022, Royal DSM launched Vertis™ Textured Pea Canola Protein, the world's first textured vegetable protein that is a complete protein, soy-free, and gluten-free.
On April 20, 2023, Meat. The End, an Israeli food tech startup, announced the launch of the world's first texturized plant-based burger made from textured vegetable protein.Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Influencing Trend:
Shift from Omnivore to Vegetarian Diet
Market Growth Drivers:
Growing Health Consciousness among the People, The Surging Popularity of Textured Vegetable Protein Owing to Numerous Benefits Such as Easy to Digest and Rich in Protein, Growing Adoption of Vegetarian Lifestyles and High Price of Animal Proteins
Challenges:
Availability of other Products
Restraints:
Fluctuations in Raw Material Prices
Opportunities:
The Growth Opportunities from Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Textured Vegetable Protein Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Textured Vegetable Protein Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Textured Vegetable Protein players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Textured Vegetable Protein Study Sheds Light on
The Textured Vegetable Protein Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Textured Vegetable Protein industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Textured Vegetable Protein industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.