Textured Vegetable Protein Market by Product Type (Textured Soy Protein and Others), Form (Flakes, Granules, Chunks, and Others), and End User (Business To Business and Business To Consumer): Global Opportunity Analysis and Industry Forecast, 2021–2027
The global textured vegetable protein market was valued at $987.9 million in 2019, and is projected to reach $2,139.6 million by 2027, registering a CAGR of 9.2% from 2021 to 2027.
Textured vegetable protein is a type of plant-based protein derived from pea, soyabean, wheat, and others. It offers similar texture and taste like meat; therefore, there is an increase in adoption for textured vegetable protein as a meat substitute. Moreover, different types of textured vegetable protein such as textured soy protein, textured wheat protein, textured pea protein, and others are available in the market. Textured vegetable protein majorly textured soy protein is easily accessible to the consumers around the world through various distribution channels including supermarkets, hypermarkets, grocery stores, online stores, and others. This in turn drives the growth of the market in terms of value sales. There is an increase in number of health-conscious consumers who prefer vegetable sources for proteins as nutritional and functional food. This drives the growth of the textured vegetable protein market. However, the easy availability of its substitutes in the market is likely to restrict the growth of the market during the forecast period. Nevertheless, product innovation and rise in demand for organic protein rich food are the factors expected to bring new opportunities for the textured vegetable protein market during the forecast period in terms of value sales.
The textured vegetable protein market is segmented into product type, form, end user, and region. By product type, it is bifurcated into textured soy protein and others. By form, the market is classified into flakes, granules, chunks, and others. By end user, it is divided into business to business and business to consumers. By region, the textured vegetable protein market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India,, Japan, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa). The key players operating in the global textured vegetable protein market focus on prominent strategies to overcome competition, and maintain as well as improve their share worldwide. Some of the major players operating in the global textured vegetable protein industry analyzed in this report include Archer Daniels Midland Company, Cargill, Incorporated Inc., Du Pont de Nemours and Company, Foodchem International Corporation, Hung Yang Foods Co., Ltd., Sonic Biochem Extraction Pvt Ltd, Südzucker Group(Beneo), Victoria Group A.D., and Wilmar International Limited.
KEY BENEFITS FOR STAKEHOLDERS • This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global textured vegetable protein market from 2019 to 2027 to identify the prevailing market opportunities. • The key countries in four major regions are mapped on the basis of their market share. • Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network. • In-depth analysis of the market segmentation assists to determine the prevailing market opportunities. • Major countries in each region are mapped according to their revenue contribution to the global industry. • Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players. • The report includes the analysis of the regional as well as global market, key players, market segments, and growth strategies.
KEY MARKET SEGMENTS
KEY MARKET SEGMENTS • By Product Type o Textured Vegetable Protein o Others • By Form o Flakes o Granules o Chunks o Others
• End User o Business to Business o Business to Consumers
• By Region o North America U.S. Canada Mexico o Europe Germany France UK Italy Spain Rest of Europe
o Asia-Pacific China Japan India South Korea Rest of Asia-Pacific o LAMEA Latin America Middle East Africa
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