Textured Soy Protein Market Driving Factors, Analysis and Global Forecast

The Textured Soy Protein Market is estimated at USD 1.73 Billion in 2017 and is projected to reach a value of USD 2.73 Billion by 2022, at a CAGR of 9.5% from 2017 to 2022. The market is driven by factors such as an increase in demand for protein-rich foods and growing health-conscious population.

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The textured soy protein market is driven by factors such as the high nutritional value of soy and initiatives undertaken by the government and regulatory bodies to increase consumer awareness. As a result, the protein-enriched food products market is booming, with infant nutrition and meat alternative products being identified as preferred carriers of protein fortification.

Based on source, the soy protein isolates segment is projected to be the fastest-growing market from 2017 to 2022. Soy protein isolates have the highest protein content (up to 90%) and are made from defatted soy meal by removing the fats and carbohydrates. Soy protein isolates have a very neutral flavor compared to other soy products and hence witness a high demand in meat substitute applications.

On the basis of type, the organic textured soy protein segment is projected to be the fastest-growing from 2017 to 2022, due to the increase in awareness of the beneficial characteristics of organic products which carry high protein content. Due to the growing technological advancements in extraction processes and the investment of key companies in sourcing soy protein concentrates which contain a large amount of protein, this segment is projected to grow at a significant rate.

Based on application, the food segment is projected to be the fastest-growing during the forecast period. The inclusion of textured soy protein in food products leads to the prevention of health disorders, which acts as a driving factor for the market. Due to the changing diet patterns and the rising health concerns, textured soy protein has begun to form an integral part of processed and packaged foods in an attempt to meet nutritive requirements.

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Leading companies are ADM (US), Cargill (US), DowDuPont (US), Wilmar International (Singapore), Victoria Group (Serbia), Bremil Group (Brazil), Linyi Shansong Biological Products (China), Shandong Yuxin Bio-Tech (China), Crown Soya Protein Group (China), Sonic Biochem (India), and Hung Yang Foods (Netherlands).

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