Textured Vegetable Protein Market Size, Share & Growth Trends

The Textured Vegetable Protein Market is estimated to be valued at USD 1.1 billion in 2020 and is projected to reach USD 1.5 billion by 2025, recording a CAGR of 6.2%, in terms of value. The growing demand for meat alternatives, as well as the increase in health awareness among consumers, are propelling the demand for textured vegetable protein. With the advancement of new technologies and innovative experiments in the food and beverage sector, the usage of textured vegetable protein has been dominant in the North American market, due to rise in vegan and flexitarian population, whereas the Asia Pacific region is growing fastest owing to new technologies and increase in the export of food and beverages.

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The meat alternatives application segment is projected to witness significant growth during the forecast period.

Based on application, the textured vegetable protein market is dominated by meat alternatives applications. Textured proteins are among the key components of meat alternatives, where they have been used as extenders, analogues, and replacers. Texturized vegetable proteins can substitute meat products while providing an economical, functional, and high-protein food ingredient or can be consumed directly as a meat alternatives. They have been successful because of their healthy image (cholesterol-free), meat-like texture, and low cost. Europe and North America are the two regions expected to drive the market for textured vegetable protein.

The slices type segment is projected to account for a major share in the textured vegetable protein market during the forecast period

By type, the textured vegetable protein market is dominated by slices. Textured vegetable protein slices are obtained by processing various beans with higher protein content. They are the unique source of protein that contains essential amino acids, protective ingredients, minerals, and vitamins, which are necessary for total metabolism. During adequate heat treatment, the anti-nutritive factors are removed, thereby improving the protein content. They are generally characterized by structural integrity, which remains the same during hydration and heat treatments.

The North American region is the largest in the textured vegetable protein market during the forecast period.

The textured vegetable protein market is driven by the rise in the detrimental effects of conventional meat production and health concerns among consumers. This has increased the demand for meat alternatives and advancements in the research & development activities to substitute traditional meat products. The North American textured vegetable protein market is led by its various applications with respect to sustainability. Advancements in ingredient development have helped improve the adaptability of textured proteins for a wide range of food applications and are estimated to drive growth in the region.

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Leading companies are 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), Beneo GmbH (Germany), Shandong Yuxin Bio-Tech (China), FoodChem International (China), Shandong Wonderful Industrial Group (China), Axiom Foods (US), AGT Food & Ingredients (Canada), Sun NutraFoods (India), Crown Soya Protein Group (China), La Troja (Spain), and Hung Yang Foods (Taiwan).

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