Textured Soy Protein Market

Textured Soy Protein Market Outlook (2023 to 2033)

According to the latest market study by Fact.MR, the global textured soy protein market is predicted to increase from a valuation of US$ 1.13 billion in 2023 to US$ 2.13 billion by 2033. Worldwide consumption of textured soy protein is forecasted to rise at a value CAGR of 6.5% from 2023 to 2033.

Defatted soy flour is used to create textured soy protein, usually referred to as a textured vegetable protein. Defatted soy flakes, which are obtained by squeezing oil from soybeans, are crushed to create defatted soy flour. With its high protein level, textured soy protein is utilized as a meat substitute or extender.

Textured vegetable protein has a protein content and vital muscle-building properties that range from 50% to 85% in terms of concentration. Texturized vegetable protein stands out when compared to other protein sources since it is environmentally friendly.

Consumer awareness about healthy lifestyles and the benefits of nutritional food is rising, causing them to gravitate towards natural food products, which is boosting market growth. The market is also witnessing a healthy growth rate due to an increase in demand from various end-use industries such as dairy alternatives, bakeries, and others.

• Conventional textured soy protein accounts for 68% of the global market. The majority of products in the food industry are generated by utilizing commodity crops and traditional agricultural processes, such as soybean farming.
• According to The National Soybean Research Laboratory (NSRL) of the University of Illinois, the soybean plant provides the complete protein required for the human body. Thus, the nutritional properties of soybeans are driving demand for textured soy protein among health-conscious consumers.

Demand for health supplements in daily life to combat escalating health concerns is driving sales of textured soy protein globally. Natural textured soy protein is derived from organic soy in various forms, such as concentrates, isolates, and others, and is widely used in snacks, meat substitutes, and nutritional supplements.

Sales of textured soy protein chunks are rising due to their applications in various end-use industries such as meat substitutes, bakery products, and cereals & snacks. Organically textured soy protein chunks are also gaining traction due to their richness in protein and other nutritious minerals. These take considerably less time to cook and are popularly used in mid-day meal programs.

Report Attributes	Details
Textured Soy Protein Market Size (2023)	US$ 1.13 Billion
Forecasted Market Value (2033)	US$ 2.13 Billion
Global Market Growth Rate (2023 to 2033)	6.5% CAGR
Market Share of Soy Protein Isolates (2023)	59%
South Korea Market Growth Rate (2023 to 2033)	5.4% CAGR
United Kingdom Market Growth Rate (2023 to 2033)	5.8% CAGR
China Market Size (2023)	US$ 180 Million
United States Market Growth Rate (2023 to 2033)	7% CAGR
Market Share of Conventional Textured Soy Protein (2023)	68%
Key Companies Profiled	DuPont Nutrition & Health; Kerry Group PLC; Cargill Inc.; Solae LLC; Bunge Limited; ADM; International Flavors & Fragrances Inc.; Bremil Group; Sonic Biochem; Victoria Group; Crown Soya Protein Group

What is Unlocking Future Opportunities for Textured Soy Protein Producers?

“Rising Vegetarianism, Veganism, and Demand for Plant-based Protein”

Growing trend of health-conscious foods and customer interest in plant-based protein have influenced the market. In recent years, vegetarianism has grown in popularity. The product's importance in reducing the incidence of heart disease, osteoporosis, and some types of cancer is of particular relevance. Due to the product’s high protein content and adaptability in the development of meat analogs and milk substitutes, textured soy protein is a nutritious solution for vegetarians.

For vegans and vegetarians, soybeans are a great source of high-quality protein since they include all the amino acids that are missing from other plant-based diets. As a result, soy is referred to as a "complete protein." The consumption of textured soy protein will probably rise due to the numerous health benefits, leading to market growth.

“Growing Consumer Focus on Protein-rich Food Products”

The market is fueled by rising consumer demand for protein-rich foods. Due to customers' preference for low-carb and low-fat foods as a result of growing health consciousness, product demand is rising. The market is anticipated to increase over the projection period due to the constantly expanding trend of physical fitness and healthy living. Due to a busy lifestyle, there is forecasted to be an increase in demand for ready-to-eat (RTE) food products

Rising demand for functional beverages is a recent trend that has been particularly effective in shaping the market. The demand for these beverages, which mostly include textured soy protein, is closely related to the expansion of the market. Because of consumer's hectic lifestyles, there is also a growing need for ready-to-eat or on-the-go food products, which is boosting market expansion to new heights.

Which Factors are Limiting Textured Soy Protein Market Growth?

“Unpleasant Flavor of Textured Soy Protein and Availability of Substitutes”

Market expansion is hampered by elements such as the unpleasant flavor of textured soy protein and the accessibility of alternatives. Strict regulations for genetically modified crops such as GMO soybean can slow market growth. Throughout the forecast period, the market would face difficulties due to lower awareness.

How Can New Market Players Settle Down in this Industry?

“Start-ups Using Textured Soy Protein to Produce Animal Feed Products”

Wild fish is typically present in high concentrations in aquaculture diets. This, however, does not support marine ecosystem sustainability since it results in overfishing, habitat loss, and water pollution. Start-ups are using plant protein ingredients such as soybeans to provide sustainable ingredients for fish and animal feed to address these concerns. In addition to fostering fish growth, soy protein is a rich source of omega-3 fatty acids that also aid in the growth of livestock.

• Nordic Soya, a Finnish start-up, creates fish and animal feed based on soy protein. The method uses ethanol extraction to concentrate the protein in soybean meal by removing the sugar, oligosaccharides, and antinutritional components. This soy protein concentrate is used in the formulation of feed products. Young animals with sensitive digestive systems, such as piglets, calves, and fish, benefit greatly from the concentrate's high protein content.

Country-wise Insights

Why is the United States a Key Market in North America?

“Rapid Increase in Vegan Population in the Country”

• The market in the United States is slated to reach US$ 599.3 million by 2033.

The United States is a leader in the vegan movement. In the country, the vegan population is between the age of 30 and 49. The United States Department of Agriculture (USDA) researched meat stews, barbecue sauces, and meat sauces to develop labeling guidelines for the use of textured soy protein based on the ratio of fresh meat to dried soy equivalent in the product formula. The medical industry is greatly impacted by plant-based diets since many hospitals are substituting vegan meals for processed meat products.

How Will the Textured Soy Protein Market Expand in the United Kingdom?

“Rapid Expansion of Food & Beverage Industry”

• Demand for textured soy protein in the United Kingdom is valued at US$ 89.4 million in 2023.

Surging popularity of non-dairy foods and beverages in the United Kingdom is also estimated to drive demand for soy products. A rise in fitness centers due to consumers' increasing health awareness, is predicted to spur demand for functional meals and drinks throughout the projection period. Domestic demand for textured soy protein is rising as a result of the rapid expansion of the food and beverage industry.

What is Driving Sales of Textured Soy Protein in China?

“Rising Soybean Production Boosting Market Demand”

• Sales of textured soy protein in China are estimated to rise at a CAGR of 6.8% through 2033.

Protein processing firms in China are fast expanding as more players enter the market intending to capture a market share. Rapidly expanding demand for textured vegetable protein products among health-conscious consumers in the country is one of the major drivers for the market.

Growing usage of textured soy protein in animal feed products, rising soybean production, and greater awareness of the health benefits of soybeans are supporting market growth. Market expansion is driven by increasing exports and regional production of goods containing protein.

Category-wise Insights

Why Do Soy Protein Isolates Occupy a Major Share of the Market?

“Textured Soy Protein Isolates Widely Included in Animal Diets Due to Their Health Benefits”

Based on product type, the market is classified into soy protein concentrate, soy protein isolates, and others.

• At present, soy protein isolates are the most sought-after, holding 59% market share.

An increase in demand from aquaculture companies for soy protein isolates is anticipated to boost the global market. The health benefits of adding textured soy protein isolates to animal diets have been discovered by livestock producers, which is projected to drive revenue from soy protein isolates. Aquaculture manufacturers are looking for more efficient and long-term solutions to raise healthy species to meet rising market requirements where population and food scarcity are increasing.

Competitive Landscape

Researcher's efforts to develop novel and alluring tastes for soy products are motivated by soy's affordable cost and good nutritional value. By adding sugar molecules, researchers are attempting to discover a technique to reduce the unpleasant flavor either during the extraction phase or during the processing stage.

Leading companies are expanding their production capacities to meet the increasing demand for high-quality soy protein. They are focusing on quality control, product standards, and supply chain management to increase their market revenue.

For instance :

• In 2018, Roquette Frères expanded the Food Customer Technical Service Centre (CTS) in Tokyo in response to rising demand for plant-based protein in Japan and other Asian markets.
• In 2019, ADM expanded its production line in Brazil by building a new soy protein production unit. The unit produces a variety of functional protein isolates and concentrates for ADM's current products.
• In 2020, ADM increased its production of non-GMO vegetable protein to cater to emerging demand for non-GMO soy protein, at its Europoort, Netherlands facility.
• CHS Inc., Ultra-Soy® textured vegetable proteins are certified Kosher Pareve under the supervision of the Union of Orthodox Jewish Congregations of America, and Halal under the supervision of the Islamic Food and Nutrition Council of America (IFANCA).

Key Segments of Textured Soy Protein Industry Research

• By Product Type:

  • Soy Protein Concentrate
  • Soy Protein Isolates
  • Others

• By Nature:

  • Organic
  • Conventional

• By Form:

  • Chunks
  • Slices
  • Flakes
  • Granules

• By Application:

  • Meat Substitutes
  • Dairy Alternatives
  • Infant Nutrition
  • Bakery Products
  • Cereals & Snacks
  • Animal Feed
  • Others

• By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa