By Type Segment Analysis

Based on the types, the Textured soy protein market is segmented into Non-GMO, Conventional, Organic and Other types. Non-GMO product type held largest share of the global textured soy protein market and is estimated to dominate the forecast period in 2020-2025. Harmful effects of Genetically modified crops and demand for non-GMO products are likely to drive the segment. With an increase in demand for organic food products across the globe, the organic segment is projected to witness fastest growth rate during the period under consideration. Hectic work schedule has fueled demand for organic food and beverages containing textured soy protein in recent time.

By Application Segment Analysis

Based on the applications, Textured soy protein market is segmented into Food and Beverages and Feed industry. Food segment lead the application segment and tends to grow during the forecast period with CAGR of 4.37%. Food and Beverage segment includes major applications in different subcategories such as Meat Substitutes, Dairy Alternatives, Infant Nutrition, Bakery products, Cereal and Snacks and Other Applications. Textured vegetable proteins are becoming popular owimg to increasing demand for meat alternatives, which is likely to fuel the segment growth.

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By Geography Segment Analysis

Based on the geography the Textured soy protein market is covered globally viz North America, South America, Europe, Asia Pacific (APAC) and Rest of World (ROW). Market in North America accounts for major share of 32% in terms of revenue and is projected to maintain its position over the forecast period. Growing adoption of vegan lifestyle, coupled with increasing demand for vegan food products are factors driving growth of the target market in respective countries in these region. Asia Pacific market in estimated to register highest CAGR in terms of revenue over the forecast period 2020-2025, owing to growing soy production especially in emerging economies such as China and India in this region.

Market Drivers Textured Soy Protein Market

Consumer demand for meat alternatives has grown over the past years as consumers have been on a journey of realization regarding how their lifestyle choices and purchases have an impact on our planet. An increased number of consumers are switching to plant-based diets for many reasons, including protecting animals, preserving the environment, general health concerns or changing taste preferences. Manufacturers are looking at plant-based proteins that offer functional, sustainable and nutritional attributes, inclusive of non-GMO and certified organic options. The combination of consumer concerns with an updated approach from the food industry to develop and deliver meat alternatives with excellent flavor, texture and mouthfeel properties has contributed to the large growth in the meat alternatives market.

Soy is a nutrition powerhouse. In U.S consumers currently enjoy soy as a fresh vegetable dish in the form of edamame, and as a protein-providing legume that can be eaten in the same ways as other types of canned beans. There is huge demand of growing soybean substitutes that meets consumer needs and tastes around the world.

Challenges Textured Soy Protein Market

Consumer trends toward cholesterol-free food products have helped increase the demand for textured soy protein, impacting the demand for animal proteins. The main factor that has limited the use of soy products in western countries was the unpalatable taste of soy products, which is linked to the action of the lipoxygenase enzyme on the soybean oil. This flavor is caused due to the presence of compounds such as aldehydes, ketones, furans, and alcohols. Medium-chain aldehydes are one of the major reasons for the beany and grassy taste of soy products. The low cost of soy and high nutritional value are the main factors that motivate researchers to develop innovative and likable flavors in soy products. Efforts are being made to identify ways to neutralize the unpleasant flavor during the extraction process or by the addition of sugar compounds during the processing phase.

Textured Soy Protein Industry Outlook

Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Textured Soy Protein Market. In 2019, Textured Soy Protein market share is consolidated by the top ten players present in the market. Textured Soy Protein Market Top 10 companies include Cargill, Linyi Shansong Biological Products, ADM, Sonic Biochem, Hung Yang Foods, Dutch Protein & Services, DowDuPont, Wilmar International, Victoria Group, Bremil Group etc among others.

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Read more from the original source:

Textured Soy Protein Market Forecast to Reach Revenue of $3.16 Billion by 2025 - Reported Times