Textured Soy Protein Market Scope
The recent report by Market Research Future (MRFR) suggests that the global textured soy protein market is on the way to accrue massive gains at a striking growth rate during the forecast period (2018-2023).
Market Drivers and Key Barriers
Textured Soy Protein (TSP) refers to a vegetable protein that is processed from soybeans and is generally found in a fibrous form. TSP finds high demand as it is used as a meat analog in different types of food items. TSP is also popular owing to its low-calorie as well as a low-fat source of vegetable protein. The market has gained immense traction, based on the high consumption of meat alternatives along with plant sources protein that have essential amino acids and several nutrients. Textured soy proteins are known for their properties of phytochemicals as well as fibers that are excellent for the digestive system.
Soy beans are turned into textured products using the extrusion process. Soy beans present in the extruder pass via a nozzle with the temperature between 150 °C and 200 °C, when they are still hot and are expanding with time. The heat then denatures the soy beans into an insoluble, fibrous, porous network which soaks up as almost three times its weight in liquids.
Textured soy protein is used for extending or replacing meat products within the food industry to manufacture extenders, analogues and meat substitutes. As soy is grown organically which offers beneficial nutritional properties owing to their higher protein content as well as lower saturated fat levels compared to conventional soy.
Textured Soy Protein Market Segmentation
The worldwide COVID-19 analysis on textured soy protein market application has been segmented into type, form, and textured soy protein market application.
The market, with respect to type, has been segmented into conventional and organic.
The market, form-wise, has been segmented into soy protein concentrates, soy protein isolates, and soy flour.
The market, depending on application, caters to meat substitutes, dairy alternatives, infant nutrition, bakery products, cereals & snacks, and feed.
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Textured Soy Protein Regional Outlook
The primary markets for textured soy protein include Europe, Asia Pacific, North America, as well as the rest of the world (RoW).
North America is perceived to be the most profitable market for textured soy protein. The region notes high demand for vegan diet with rich nutrition and healthier ingredients, compared to meat and meat products. Rising per capita disposable income coupled with prevalence of healthy lifestyle will favor the production of textured soy protein in the region. Other than this, there is a hike in demand for high protein along with meat substitute products, particularly among vegan and vegetarian consumers. This factor can play a prime role in the market growth in the subsequent years.
In Europe, a spate of research and development (R&D) help demonstrate soy protein’s intrinsic functional benefits. The functional foods manufacturers in the region display promising approach towards the use of soy protein ingredients owing to cost and safety aspects. The consumers in Europe are showing increasing concerns towards GM-foods, instead going for food products like soy. On top of this, the emergence of alternate vegetable protein options paired with the surging awareness about the bioavailability of soy protein will do wonders for the market growth in the years to come.
Textured Soy Protein Market Leading Players
Linyi Shansong Biological Products Co., Ltd. (China), Wilmar International Ltd. (Singapore), Sonic Biochem Extractions Ltd. (India), Bremil Group (Brazil), Archer-Daniels-Midland Co. (US), Hung Yang Foods Co., Ltd. (Netherlands), Dow DuPont (US), Victoria Group (Serbia), Crown Soya Protein Group (China), Cargill, Inc. (US), Shandong Yuxin Bio-Tech Co., Ltd. (China), are some of the leading vendors competing in the worldwide textured soy protein market.
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