Global Textured Vegetable Protein Market Size Study by Product Type (Textured Soy Protein, Others), by End User (Business to Business, Business to Consumer), by Form (Granules, Flakes, Chunks, Others), and Regional Forecasts 2022-2032

Description

Global Textured Vegetable Protein Market is valued approximately at USD 1.5 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 9.4% over the forecast period 2024-2032. Textured vegetable protein (TVP) is a plant-based protein product derived from ingredients like soy, pea, and wheat. Known for its high protein and fiber content while being free from fat and cholesterol, TVP serves as an ideal meat substitute. Available in various forms such as granules, flakes, and chunks, it is a versatile ingredient in a wide range of food applications, catering to the growing demand for healthier, plant-based diets. The rise in health consciousness among consumers, coupled with the expanding vegan population, drives the demand for TVP, especially textured soy protein. Additionally, the food industry's shift towards incorporating plant-based ingredients in a variety of products, from meat analogs to snacks, is further bolstering the market's growth.

The market is being propelled by several factors, including the rising demand for plant-based proteins as consumers increasingly adopt vegetarian, vegan, or flexitarian diets. This shift is largely driven by health, environmental, and ethical considerations, making TVP a crucial component in satisfying the protein needs of these consumers without compromising on taste or nutritional value. Developed markets, where health and sustainability concerns are more pronounced, are witnessing a particularly strong demand for TVP. The food industry's response to this trend is evident in the increased use of TVP in various applications, including meat analogs, bakery products, and snacks, which cater to a broad spectrum of consumer needs. Moreover, the cost-effectiveness of TVP compared to animal-derived proteins enhances its attractiveness to food manufacturers, driving its adoption in new product formulations.

However, challenges remain in the form of taste and texture limitations, which hinder broader acceptance among consumers accustomed to the sensory experience of traditional meat products. Despite ongoing advancements in processing techniques, replicating the texture and flavor of meat remains a challenge. Additionally, allergen concerns, particularly regarding soy, present a significant restraint on the market, limiting the consumer base and impacting brand loyalty.

The key regions considered for the global Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. The Asia-Pacific region is expected to dominate the textured vegetable protein market during the forecast period, owing to its large and diverse population with varying dietary preferences, including a significant vegetarian and vegan demographic. Countries such as China, India, and Japan are major drivers of this growth, supported by the region's abundant soybean cultivation, which ensures a steady supply of raw materials for TVP production. Whereas, the market in North America is anticipated to grow at the significant rate over the forecast period fueled by rising consumer demand for plant-based and sustainable food options. Growing health consciousness, coupled with increased awareness of the environmental impacts of animal agriculture, fuels the shift towards plant-based diets. Additionally, the expansion of vegan and vegetarian product offerings by major food companies and retailers contributes to market growth. Advances in TVP technology and its incorporation into a variety of processed foods further support the market's expansion, catering to both health-conscious consumers and those seeking convenient meat alternatives.

Major market players included in this report are:

Sudzucker Group (Beneo)
Foodchem International Corporation
Hung Yang Foods Co., Ltd.
Sonic Biochem Extraction Pvt Ltd
Victoria Group A.D.
Wilmar International Limited
Cargill Incorporated Inc.
Archer Daniels Midland Company
Du Pont de Nemours and Company
Company 10
Company 11
Company 12
Company 13
Company 14
Company 15

The detailed segments and sub-segment of the market are explained below:

By Product Type

Textured Soy Protein
Others

By End User

Business to Business
Business to Consumer

By Form

Granules
Flakes
Chunks
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Textured Vegetable Protein Market Executive Summary

1.1. Global Textured Vegetable Protein Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Product Type
- 1.3.2. By End User
- 1.3.3. By Form
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Textured Vegetable Protein Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Textured Vegetable Protein Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand for Plant-Based Protein
- 3.1.2. Health Consciousness and Nutritional Awareness
- 3.1.3. Growth of Vegan and Vegetarian Markets
3.2. Market Challenges
- 3.2.1. Taste and Texture Limitations
- 3.2.2. Allergen Concerns, Particularly Soy
3.3. Market Opportunities
- 3.3.1. Expansion of Vegan and Vegetarian Markets
- 3.3.2. Innovations in Product Formulation

Chapter 4. Global Textured Vegetable Protein Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Textured Vegetable Protein Market Size & Forecasts by Product Type 2022-2032

5.1. Segment Dashboard
5.2. Global Textured Vegetable Protein Market: Product Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Textured Soy Protein
- 5.2.2. Others

Chapter 6. Global Textured Vegetable Protein Market Size & Forecasts by End User 2022-2032

6.1. Segment Dashboard
6.2. Global Textured Vegetable Protein Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Business to Business
- 6.2.2. Business to Consumer

Chapter 7. Global Textured Vegetable Protein Market Size & Forecasts by Form 2022-2032

7.1. Segment Dashboard
7.2. Global Textured Vegetable Protein Market: Form Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Granules
- 7.2.2. Flakes
- 7.2.3. Chunks
- 7.2.4. Others

Chapter 8. Global Textured Vegetable Protein Market Size & Forecasts by Region 2022-2032

8.1. North America Textured Vegetable Protein Market
- 8.1.1. U.S. Textured Vegetable Protein Market
  - 8.1.1.1. Product Type breakdown size & forecasts, 2022-2032
  - 8.1.1.2. End User breakdown size & forecasts, 2022-2032
  - 8.1.1.3. Form breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Textured Vegetable Protein Market
8.2. Europe Textured Vegetable Protein Market
- 8.2.1. U.K. Textured Vegetable Protein Market
- 8.2.2. Germany Textured Vegetable Protein Market
- 8.2.3. France Textured Vegetable Protein Market
- 8.2.4. Spain Textured Vegetable Protein Market
- 8.2.5. Italy Textured Vegetable Protein Market
- 8.2.6. Rest of Europe Textured Vegetable Protein Market
8.3. Asia-Pacific Textured Vegetable Protein Market
- 8.3.1. China Textured Vegetable Protein Market
- 8.3.2. India Textured Vegetable Protein Market
- 8.3.3. Japan Textured Vegetable Protein Market
- 8.3.4. Australia Textured Vegetable Protein Market
- 8.3.5. South Korea Textured Vegetable Protein Market
- 8.3.6. Rest of Asia Pacific Textured Vegetable Protein Market
8.4. Latin America Textured Vegetable Protein Market
- 8.4.1. Brazil Textured Vegetable Protein Market
- 8.4.2. Mexico Textured Vegetable Protein Market
- 8.4.3. Rest of Latin America Textured Vegetable Protein Market
8.5. Middle East & Africa Textured Vegetable Protein Market
- 8.5.1. Saudi Arabia Textured Vegetable Protein Market
- 8.5.2. South Africa Textured Vegetable Protein Market
- 8.5.3. Rest of Middle East & Africa Textured Vegetable Protein Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Sudzucker Group (Beneo)
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. Foodchem International Corporation
- 9.3.3. Hung Yang Foods Co., Ltd.
- 9.3.4. Sonic Biochem Extraction Pvt Ltd
- 9.3.5. Victoria Group A.D.
- 9.3.6. Wilmar International Limited
- 9.3.7. Cargill Incorporated Inc.
- 9.3.8. Archer Daniels Midland Company
- 9.3.9. Du Pont de Nemours and Company

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes