Emerging Trends in the Global Textured Soy Protein Market

The global textured soy protein market size was estimated at USD 3.53 billion in 2018 and is projected to expand further at a CAGR of 9.1% from 2019 to 2025.

The global Textured Soy Protein Market size is anticipated to reach USD 6.49 billion by 2025 registering a CAGR of 9.1%, according to a new report by Grand View Research, Inc. Rising demand for low-carb and low-fat diet due to increasing awareness about leading a healthy lifestyle is expected to boost product sales over the forecast period. Non-GMO soy protein was the largest product segment in 2018 and accounted for more than 52% share of the global market. It is expected to retain its dominant position throughout the forecast years.

Non-GMO proteins are free of pesticides and do not contain added preservatives and additives, which is augmenting their demand. Moreover, GMO soy crop is banned in several countries owing to increasing awareness about the adverse effects of these crops on health, which, in turn, boosts the demand for non-GMO product. However, organic segment is expected to witness the fastest CAGR from 2019 to 2025 owing to increasing demand for organic food products containing textured soy protein.

Increasing demand for meat alternatives is the main factor driving the product demand in the food industry. North America was the largest regional market in 2018 and accounted for half of the overall share. It is projected to maintain its dominance from 2019 to 2025. Increasing health awareness and vegan population in North America are the key factors driving the region’s growth. However, Asia Pacific is expected to register the fastest CAGR of 11.4% over the forecast period due to high soya bean production coupled with rising awareness about the health benefits of soya bean.

Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/textured-soy-protein-market

Further key findings from the study suggest:

• Food application was the largest segment in 2018 and will expand further at the maximum growth rate from 2019 to 2025
• Asia Pacific is projected to witness the fastest CAGR from 2019 to 2025. China is one of the largest consumers of soya protein in the region
• Some of the key companies in the textured soy protein market are Archer Daniels Midland Company; Cargill, Inc.; Wilmar BioEthanol; Victoria Group; and Bremil Group
• Most of these companies have undertaken several strategies, such as merger & acquisition, for business expansion