(Food-Beverage-News.Com, August 26, 2021 ) The global textured soy protein market is estimated at USD 1.58 Billion in 2016; it is projected to grow at a CAGR of 9.5% from 2017, to reach USD 2.73 Billion by 2022. The base year considered for the study is 2016, and the forecast period is from 2017 to 2022. The basic objective of the report is to define, segment, and project the global market size for the textured soy protein market based on type, source, application, and region.
By source, soy protein concentrates to account for the largest market share during the forecast period
In this report, the textured soy protein market is broadly segmented into soy protein concentrates, soy protein isolates, and soy flour. Soy protein concentrates to account for the largest market as they are easily digestible, cheap, and available in granule, flour, and spray-dried forms. They are well-suited for consumers of all age groups, including children, pregnant & lactating women, and the geriatric population.
By type, the non-GMO segment is expected to dominate the textured soy protein market during the forecast period
Non-GMO textured soy proteins are high protein products that are also rich in dietary fibers, minerals, contain no cholesterol, lactose, or casein, and are free from microbiological contamination. The organic segment is projected to grow at the highest CAGR during the forecast period. Natural textured soy proteins are extracted from organic soy, in the form of isolates, concentrates, and flour, and find wide-scale application in snacks, nutritional supplements, meat alternatives, and extenders.
By food application, meat application to dominate the market during the forecast period
With supportive health claims from the Joint Health Claim Initiative (JHCI), soy proteins are developed as essential ingredients in functional foods and nutraceuticals. According to the Commonwealth Scientific and Industrial Research Organization (CSIRO), 60% of the global supermarket products contain textured soy protein. Textured soy proteins are formulated to suit specific applications such as bakery, dairy replacers, or meat alternatives.
North America to dominate the textured soy protein market during the forecast period
Among consumer soy foods, functional foods, and dairy replacers are projected to be the fastest-growing segments in North America. The demand for textured soy protein is growing at a high rate; changing consumer preference from meat to plant protein is one of the main reasons driving the market for soy protein. Also, soy-based proteins are a major source of protein for vegans worldwide.
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