The increasing inclination of consumers towards the plant-based food and the fact that the vegan fraction of the world populace is perpetually seeking for dietary substitutes to meat for intake of protein is creating a profitable regime in the textured soy protein market. Textured soy protein (TSP) is a unique and viable plant protein source, which is also known as textured vegetable protein (TVP). Initially, it was widely used as a substitute for minced meat base. Currently, TSP nutrition profile is acting as one of the major driving factors for the growth in the textured soy protein market size. TSP is an economical source of dietary fiber, soy protein, and bio-active components such as isoflavones. It comprises of 50% protein content along with all essential amino acids, which are necessary to maintain the health of an individual.
Thus, it is elevating as a healthy high-quality protein source without fat, cholesterol, and saturated fat. Scientists state that the consumption of soy protein or organic protein powder provide some health benefits such as reduced risk associated with heart disease as it lowers the blood cholesterol, thereby increasing the flexibility of blood vessels. Additionally, soy protein acts as a low carb protein powder and supports to control hyperglycemia and obesity. The rise in the number of health-conscious people coupled with their dietary preferences is increasing the demand for organic and isolate protein powder. At present, consumer trend towards choosing plant-based protein products and meat alternatives are resulting in the expansion of textured soy protein market size at a rapid pace.
As a Consequence, the global Textured Soy Protein Market size was evaluated at $1.89 billion in 2018 and is estimated to grow with a CAGR of 9.6% during the forecast period 2019-2025.
The Ubiquity of Soy Protein in Food Segment:
Textured soy protein application in food segment is growing at the fastest CAGR of 4.37% over the forecast period. This is because of the continuous demand for textured soy protein in numerous food applications such as meat substitutes, dairy alternatives, infant nutrition, bakery products, and cereal & snacks. Consequently, textured soy protein is incorporated in many convenient and dry entrée mixes with additional herbs and flavorings. Application of soy protein stimulates meats natural structure; thus, it is mostly used in the thriving meat industry, thereby contributing to an increment in the TSP market revenue. Soy protein is an effective emulsifier of fat with high biological value, and it is also easy to digest.
North America Textured Soy Protein Market:
According to the Soyfoods Association of North America, TSP presence is noticeable in almost every new soy foods in today’s marketplace. Presently, TSP is available as unflavored, chicken flavored, in chunks, flakes, crumbles, and as slices. Natural food supermarkets, buying clubs, health food stores, food cooperatives, and the natural foods section of traditional supermarkets are the primary distribution channels, which are replicating the notable sales of this soy food, especially in the North America region. Additionally, active sales of TSP are evident through online shopping. On the other hand, The Food and Drug Administration (FDA), a federal agency of the United States Department of Health and Human Services has approved a health claim. It states that consumption of a 25 grams of soy protein as a part of daily diet supports to lower saturated fat and cholesterol, and also to reduce total and LDL cholesterol in the human body.
It is notable that the U.S. had occupied the highest share of 36.3% in the world protein concentrates and textured protein substances exports as of 2018. This top exporter had exported $805.8 million worth value protein concentrates and textured protein substances in 2018.
Now, the U.S. is renowned as the largest producer of soybeans worldwide. The growers and researchers in this country are highly focused on developing soybean varieties to fulfill consumer demands for TSP.
Major Players in Textured Soy Protein Market – Competitive Landscape:
Cargill Incorporated, Linyi Shansong Biological Products Co, Ltd., The Archer Daniels Midland Company, Sonic Biochem Extractions Ltd., Hung Yang Foods Co, Ltd., Dutch Protein & Services B.V., DuPont de Nemours, Inc., Wilmar International Limited, Victoria Group, and Bremil Group are the textured soy protein top 10 companies. These companies are concentrating in implementing business strategies to mark their brand name which also increasing their textured soy protein market share.
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