Global Textured Vegetable Protein Market Insights Forecasts to 2032

• The Global Textured Vegetable Protein Market Size was valued at USD 1.3 billion in 2022.
• The Market is growing at a CAGR of 6.3% from 2022 to 2032
• The Worldwide Textured Vegetable Protein Market Size is expected to reach USD 2.4 billion by 2032
• Asia Pacific is expected to grow the fastest during the forecast period

 

Get more details on this report -

Request Free Sample PDF

The Global Textured Vegetable Protein Market Size is anticipated to exceed USD 2.4 billion by 2032, growing at a CAGR of 6.3% from 2022 to 2032.  

 

Market Overview

The global textured vegetable protein (TVP) market has witnessed significant growth in recent years and is expected to continue its positive trajectory during the forecast period. Textured vegetable protein, also known as textured soy protein or soy meat, is a versatile and cost-effective plant-based protein derived from soybeans. It is widely used as a meat substitute in various food products due to its high protein content, nutritional value, and texture similar to meat. The global textured vegetable protein market is experiencing significant growth due to the increasing demand for plant-based protein, health and wellness trends, and advancements in food processing technologies. While challenges related to allergenic potential and taste perception persist, manufacturers are actively working on improving product attributes to cater to evolving consumer preferences. With the expanding consumer base and rising awareness of the environmental and health benefits of plant-based proteins, the textured vegetable protein market is expected to witness steady growth in the coming years.

 

Report Coverage

This research report categorizes the market for the global textured vegetable protein market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the textured vegetable protein market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the textured vegetable protein market.

 

Driving Factors

Advancements in food processing technologies have played a crucial role in the growth of the textured vegetable protein market. Manufacturers are continually improving the texture, flavor, and appearance of TVP products through innovative processing techniques. This has resulted in products that closely mimic the texture and taste of meat, making them more appealing to consumers. Advanced extrusion processes, flavoring techniques, and ingredient formulation have contributed to the enhanced sensory properties of textured vegetable protein, further driving its adoption.

 

Textured vegetable protein offers a cost-effective solution for food manufacturers compared to animal-based proteins. It is relatively cheaper and more accessible, making it an attractive ingredient for various food applications. The cost-effectiveness of textured vegetable protein enables food companies to develop affordable plant-based protein products without compromising on quality or taste. This factor has significantly contributed to its widespread use in meat analogs, snacks, bakery products, and convenience foods.

 

Restraining Factors

While significant advancements have been made in improving the taste and texture of textured vegetable protein, there can still be a perception barrier among consumers who are accustomed to the taste and texture of meat. Some individuals may find the flavor and mouthfeel of textured vegetable protein less appealing or different from traditional meat products. Overcoming these sensory challenges and creating products that closely replicate the sensory experience of meat remains a restraint for the market. Manufacturers need to invest in research and development to enhance the taste, texture, and overall sensory attributes of textured vegetable protein products.

 

Market Segmentation

 

The Global Textured Vegetable Protein Market share is classified into type, source, and application.

• The granules segment is expected to hold the largest share of the global textured vegetable protein market during the forecast period.

The global textured vegetable protein market is segmented by type into slices, flakes, chunks, and granules. Among these, the granules segment is expected to hold the largest share of the global textured vegetable protein market during the forecast period. The growth can be attributed due to its wide range of applications, versatility, and convenience. TVP granules are commonly used as a ground meat alternative, making them suitable for various dishes that require a minced or crumbled texture. The granules segment caters to the demand for plant-based protein in products like vegetarian burgers, sausages, lasagnas, and other processed meat analogs. The ease of preparation and adaptable texture of TVP granules make them a popular choice for both commercial food manufacturers and consumers seeking convenient plant-based protein options.

 

• The soy segment is expected to hold the largest share of the global textured vegetable protein market during the forecast period.

Based on the source, the global textured vegetable protein market is divided into soy, wheat, and pea. Among these, the soy segment is expected to hold the largest share of the global textured vegetable protein market during the forecast period. The growth can be attributed due to the established use of soy-based textured vegetable protein in a wide range of food products, its availability, and its long-standing market presence. Soy-based textured vegetable protein is widely used and has been a popular choice for meat analogs and vegetarian/vegan food products for several decades. Soy is an excellent source of plant-based protein and offers a favorable amino acid profile. 

 

• The meat alternatives segment is expected to hold the largest share of the global textured vegetable protein market during the forecast period.  

Based on the application, the global textured vegetable protein market is divided into meat alternatives, cereals & snacks. Among these, the meat alternatives segment is expected to hold the largest share of the global textured vegetable protein market during the forecast period. The increasing demand for plant-based meat alternatives, driven by factors such as health consciousness, environmental sustainability, and ethical concerns, has propelled the use of textured vegetable protein in this segment. The versatility and ability of TVP to mimic the texture and flavor of meat make it a popular choice for food manufacturers aiming to develop innovative plant-based products that cater to the preferences and needs of a diverse consumer base. Additionally, the meat alternatives segment benefits from the availability of a wide range of textured vegetable protein products specifically formulated for meat-like applications.

 

Regional Segment Analysis of the Global Textured Vegetable Protein Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is estimated to hold the largest share of the global textured vegetable protein market over the predicted timeframe.

 

Get more details on this report -

Request Free Sample PDF

North America is expected to hold the largest share of the global textured vegetable protein market during the forecast period. The region has witnessed a substantial rise in the demand for plant-based protein alternatives, driven by factors such as increasing health consciousness, environmental concerns, and the growing popularity of vegetarian and vegan diets. The United States, in particular, dominates the North American market due to its large consumer base, extensive product availability, and well-established plant-based food industry. The region has witnessed the introduction of a wide range of textured vegetable protein products, including meat substitutes, snacks, and breakfast cereals, catering to the evolving preferences of consumers.

 

Asia Pacific is expected to grow at the fastest pace in the global textured vegetable protein market during the forecast period. Countries like China and India, with their large populations and increasing disposable incomes, present significant opportunities for market expansion. The demand for plant-based protein alternatives in the Asia Pacific is driven by factors such as changing dietary preferences, rising health consciousness, and the influence of Western food trends. Manufacturers in the region are introducing a variety of textured vegetable protein products, including meat analogs, snacks, and ready-to-eat meals, to cater to the evolving consumer demands.

 

The Middle East and Africa region are witnessing gradual but promising growth in the textured vegetable protein market. While meat consumption is traditionally high in the region, there is an increasing awareness of the health and environmental benefits of plant-based proteins. The textured vegetable protein market is gaining traction, with the introduction of products tailored to local tastes and preferences. Countries such as South Africa, Israel, and the United Arab Emirates are leading the way in the adoption of textured vegetable protein as an alternative protein source.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global textured vegetable protein along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• ADM   
• Roquette Frères   
• Ingredion   
• DuPont   
• The Scoular Company  
• Beneo   
• Cargill, Incorporated  
• MGP 
• Shandong Yuxin Biotechnology Co. Ltd.   
• Axiom Foods, Inc.
• Foodchem International Corporation   
• PURIS   
• Kansas Protein Foods   
• DSM  
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In September 2022, ADM, an international leader in protein alternatives and nutrition products and solutions, has increased textured soy protein production at its extrusion facility in Serbia. The factory is designed to produce non-GMO soy proteins that are in high demand not only in Europe but also globally.

 

• In September 2022, Plant protein TEX PW80 M, made from wheat and pea, was introduced by Cargill, a textured vegetable manufacturer, to improve functionality and achieve a more meat-like texture.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Textured Vegetable Protein Market based on the below-mentioned segments:

 

Global Textured Vegetable Protein Market, By Type

• Slices
• Flakes
• Chunks
• Granules

 

Global Textured Vegetable Protein Market, By Source

• Soy
• Wheat
• Pea

 

Global Textured Vegetable Protein Market, By Application

• Meat Alternatives
• Cereals & Snacks  

 

Global Textured Vegetable Protein Market, By Form

• Dry
• Wet

 

Global Textured Vegetable Protein Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa