The recently published market study by Fact.MR highlights the current trends that are expected to influence the dynamics of the Textured Soy Proteins Market in the upcoming years. The report introspects the supply chain, cost structure, and recent developments pertaining to the Textured Soy Proteins Market in the report and the impact of the COVID-19 on these facets of the market. Further, the micro and macro-economic factors that are likely to impact the growth of the Textured Soy Proteins Market are thoroughly studied in the presented market study.
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With increasing diseases associated with meat, for instance bird flu and swine flu, plant-derived proteins are gaining high traction owing to growing consumption by health conscious people worldwide. Increasing demand for vegetable proteins has directly spurred the consumption of their textured soy counterparts. Another factor pushing the sales of textured soy proteins includes growing preference for meat substitutes. Meat substitutes offer various health benefits by filing the nutritional gaps in regular diets.
With growing incidences of diabetes and rising cholesterol, demand for low fat healthy diet is rising. This has triggered the consumption of vegan food among health conscious population across the globe. Meat substitutes are becoming a priority in regular meals as they deliver high national value and low fat diet. Also, increasing standards of living of people and high GHDI are expected to influence the consumption of not-so-cost efficient meat substitutes.
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According to Fact.MR, the volume of textured soy proteins across the globe is expected to touch over 1,364,000 tons by the end of the year of assessment (2026), which is influenced with increasing consumption of the product.
Asia Pacific Excluding Japan (APEJ) to be at the Apex With Respect to Consumption of Textured Soy Proteins
Textured soy proteins have witnessed high consumption among middle class population in Asian countries. With increasing cardiovascular disorders in the region, the demand for healthy diet is rising, which has pushed the sales of vegan foods and low fat products. This has triggered the consumption of textured soy proteins among population of emerging countries such as India and China. Moreover, growing health trend has surprisingly pushed the consumption of high protein diet in the region.
These factors are driving the growth of the textured soy protein market in this region. According to research report, by end of assessment period, the sales of textured soy proteins in APEJ is estimated to reach US$ 1500 Mn supported by high demand for soy protein concentrates.
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Other Key Highlights on Global Textured Soy Protein Market
- As compared to soy protein isolates and other soy products, consumption of soy protein concentrates is higher and is expected to soar in the coming years. According to Fact.MR, soy protein concentrates consumption is expected to grow by 8.5% during the assessment period
- With respect to form, demand for dry textured soy proteins is higher than liquid. The main aspect deriving this demand is convenience while cooking and intake. Moreover, from a distribution standpoint, dry food items pose less challenges as compared to liquid products. Sale of dry textured soy proteins s expected to reach a value of over US$ 2 Bn by 2026 end
- Application of textured soy proteins is high in infant nutrition and bakery products. Infant diet is gaining high steam since past years, which has pushed the consumption of high protein diet. This has driven the demand for textured soy proteins in infant formula as well. Moreover, the use of textured soy proteins in bakery products is anticipated to grow at a comparatively higher pace in the coming years
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Key players involved in the production of textured soy proteins are focusing on emerging economies and also striving to innovate the products by enhancing their quality. Major companies include Cargill Inc., Arla Foods, Costantino Special Protein, New Alliance Dye Chem Pvt.Ltd., Solae LLC and Bunge.
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