Direct to Consumer Models to Proliferate in Textured Soy Protein Market: Fact.MR Report
Published : 31 Aug 2021 Industry: Food & Beverage
According to a recent report by Fact.MR, a market research and competitive intelligence provider, demand for textured soy protein will surpass a valuation of US$ 880 Bn in 2021, and is set to rise at a CAGR of around 6.4% through the end of 2031.
Global demand for textured soy protein is soaring due to increasing preference for texture and nutritional content in food products. Also, its low-calorie level and high fiber content are supporting demand growth across the globe.
Textured soy protein is growing in popularity amongst dieters since it is a source of high-quality, low-fat, and plant-based protein that may reduce appetite by increasing satiety. The protein content aids in building muscles and reducing body fat. This attracts fitness freaks and gym savvy millennial population to consume plant-based protein supplements instead of animal-sourced protein products.
Growing popularity of 'Veganuary' year after year, as well as the fact that prominent retailers have rapidly expanded their shelf space, has aided the rise of textured soy protein. As the popularity of a flexitarian diet grows, many casual dining establishments, fast food chains, and restaurants are adding specific 'meat-free' portions to their menus.
By observing significant demand from the market, manufacturers are focusing on innovation. With rising R&D activities and new product launches, consumers are getting various options in terms of flavor, packaging, quantity, and price. According to the Soyfoods Association of North America (SANA), there is a significant change in supermarket shelf space for textured soy protein products.
Key Takeaways from Market Study
- The U.S. is estimated to account for more than 90% of the North American market in 2021, supported by rising veganism.
- China is estimated to account for more than 45% of the East Asian market share in 2021, supported by increase in new players in the country.
- Germany is a high potential market in Europe, accounting for over 16% value share, supported by popularity of the plant-based protein trend.
- Granules form of textured soy protein will hold nearly 32% of the market in 2021, on the back of rising research & development.
- Soy protein isolates reflect around 59% of the market in 2021, owing to their low cost and application in infant nutrition and bakery products.
“With wide acceptance of textured soy protein, manufacturers are focusing on extending their product portfolios and entering new markets,” says a lead analyst at Fact.MR.
Who is Winning in This Space?
With more consumers becoming health-conscious and demanding organic products, the need for textured soy protein is constantly rising. Consumers' hectic schedules have increased demand for ready-to-consume organic food and beverage items incorporating textured soy proteins for its nutritional value.
To meet rising competition in the textured soy protein space, manufacturers are focused on product innovation. Key players operating in global market are also concentrating on implementing cutting-edge technology that will allow them to retain high-quality standards and distinction.
Some of the leading companies offering textured soy protein are Bunge Limited, Kerry Group Plc., DuPont Nutrition & Health, Abbott Nutritionals, Archer-Daniels-Midland Company, Costantino Special Protein, The Goo, Cargill Inc., Ingredion Inc., MGP Ingredients, and BENEO GmbH.
Get Additional Valuable Insights
Fact.MR, in its new offering, provides an unbiased analysis of the demand for textured soy protein, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.
The study divulges compelling insights on the textured soy protein market based on product type (soy protein concentrates, soy protein isolates, and others), nature (organic and conventional), form (chunks, slices, flakes, and granules), and application (meat substitutes, dairy alternatives, infant nutrition, bakery products, cereals & snacks, animal feed, and others), across six major regions of the world.
About the Food & Beverage Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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Sr. Consultant – Food & Beverages