The global textured soy protein (TSP) market was worth USD 1.58 Billion in 2016, and it is projected to grow to USD 2.73 Billion by 2022, at a CAGR of 9.5% over the forecast period 2017-2022.
Textured Soy Protein (TSP): Introduction
Textured soy protein is nothing but vegetable protein, which is obtained from soya beans or other vegetables. They are also called soya chunks or soya meat. This product is made by defatting soy flour, which is a by-product of extracting soybean oil. If you are looking for a substitute for meat, then soy protein is a substitute for meat. It is easy and quick to cook and can be found in uncolored or caramel colors.
People have become more health-conscious and looking for an alternative that has increased the demand for textured soy protein. It has low fat and is also cost-effective; hence, it is a healthy alternative to other proteins. This Credible Market Report provides the holistic evolution of the global textured soy protein (TSP) market. This report also includes a comprehensive analysis of market trends, key market segments, market drivers, market restraints, competitive landscape, and factors that are playing a significant role in the market.
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The Global Textured Soy Protein (TSP) Market Overview:
The global Texture soy protein (TSP) market is expected to grow at a CAGR of 9.5% over the forecast period (2017-2022).
Consumers have become health-conscious, and there has been a demand for protein-rich food among the consumers. Therefore it is expected to boost the market for textured soy protein. Consumers have been opting for low-carb and low-fat foods concerning increasing health awareness, further amplifying market demand. Textured soy protein is a supreme meat substitute in spaghetti sauce, tacos, peppers, and hamburgers.
Textured soy protein can be used as an additive to meat dishes. Most commonly, they are used in the cafeteria of institutions that don’t have sufficient budget & financial resources, such as schools and prisons. For Instance, Canadian Bio-System Inc. (CBS Inc.) has launched Feed Check Soy at the International Production and Processing Expo in January 2018. This new tool can analyze the soybean meat quality on site. There is a new product in the textured soy protein market called Sapporo XTHH, a specialty soy protein; it was launched by DuPont Nutrition and Health.
The market grown can be restricted by the easy availability of other plant-based proteins such as chickpeas, quinoa, fava beans, and so on. The demand for texture soy protein can fall because these plant-based proteins are similar to Soy, and they are being used widely. Even though textured soy protein is considered to be an extremely healthy alternative, consumers still try to avoid it because of its tastes which makes it undesirable.
The Key Market Segmentation of the Global Textured Soy Protein (TSP) Market:
This Research Report Categorized Global Textured Soy Protein (TSP) Market Based on Types, Source, Application and Geographical Landscape.
Textured Soy Protein (TSP) Market Segmentation By Product Type:
Textured Soy Protein (TSP) Market Segmentation By Source:
Soy Protein Concentrates
Soy Protein Isolates
Textured Soy Protein (TSP) Market Segmentation By Application: Food
Cereals & snacks
Textured Soy Protein (TSP) Market Segmentation By Geographical Landscape:
Middle East and Africa
Major Key Players in the Global Textured Soy Protein (TSP) Market Are:
The study report of the “Global Textured Soy Protein (TSP) Market” will provide a valuable insight with an emphasis on the global market, including some of the major market players such as.
- ADM (US),
- Cargill (US),
- DowDuPont (US)
- Crown Soya Protein Group (China)
- Bremil Group (Brazil)
- Linyi Shansong Biological Products (China),
- Wilmar International (Singapore)
- Victoria Group (Serbia)
- Shandong Yuxin Bio-Tech (China)
- Sonic Biochem (India)
The Covid-19 Impact Analysis:
Due to COVID-19, people have become more health-conscious about their health, so it impacted over 60% of consumers. Over 80% of consumers are also looking to actively change their eating habits and diet by consuming more vitamins, more protein, and mineral-rich products, therefore contributing to the textured soy protein (TSP) market growth.
Reasons to Purchase This Report:
This report has qualitative and quantitative analysis data of the global market, and it is based on segmentation involving economic and non-economic factors.
It provides the competitive landscape and includes major players’ market ranking, new service or product launches, business expansion, partnership, and acquisitions of the last five years of the companies profile.
Geographical analysis and consumption of the product/service in the region also includes the factors that are affecting the regional market.
This report provides market value (USD Billion) data for each segment and sub-segment.
A detailed Company Profile consists of a company overview, product benchmarking, company insights, and SWOT analysis for the prime market players.
It highlights the region and segment which is forecasted to witness rapid growth and to dominate the market.
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