Dublin, Jan. 25, 2021 (GLOBE NEWSWIRE) -- The "Global Textured Vegetable Protein Market, Growth, Trends and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global textured vegetable protein market is projected to register a CAGR of 6.3% during the forecast period, 2020-2025.
Texturized vegetable proteins can substitute meat products, while providing an economical, functional, and high-protein food ingredient or can be consumed directly as a meat analogue.
The term, TVP (textured vegetable protein), is being used for various meat analogue products, such as burger patties, frankfurters, nuggets, sausages, meatballs, and so on. It is used to provide the desired quality, texture, binding ability, and the suitable amount of chewiness to make the product firmer.
Wheat-based TVP are lighter in color, compared to that based on soy. Dark coloured TVP are generally utilized for red meat-based substitutes, like beef, while wheat TVP are preferred for lighter-colored meat substitutes, such as pork, turkey, and so on.
Key Market Trends
The Demand for Meat Substitutes has Triggered the Growth of Textured Vegetable Protein Market
Meat substitute is one of the fastest growing markets, offering huge potential in terms of expansions, partnerships, and new product launches by global, as well as regional players, to enter the market. With growing market penetration for vegan food and increasing number of food allergens among the North American and European population, the market for meat alternatives and substitutes is expected to grow at a faster rate.
Textured vegetable protein is one of the major segment of meat substitutes, holding the largest share in the meat substitutes market across the globe. Textured soy proteins are formulated to suit specific applications such as bakery, dairy replacers, or meat alternatives. The feed segment is the fastest-growing application for textured soy protein in the coming years. The rising demand for animal by-products will result in increased attention towards animal care and welfare, which in turn is expected to drive the consumption of textured soy protein in feed
Asia Pacific is the Fastest Growing Market
Textured vegetable protein (TVP) is gaining great momentum in the Asia-Pacific market, due to its easy availability and the low cost of production, making it profitable for both producers and consumers. Among the Asian countries, the Textured Vegetable Protein in China hold's the largest market share. The Chinese government issued new dietary guidelines, recommended by the country's Health Ministry, which aim to reduce the country's meat consumption to half, by 2030, which is expected to accelerate the growth of the market during the forecast period.
Despite India being one of the fastest growing economy in the world, it still has a large population affected by undernourishment, especially among children, cardiovascular diseases, and diabetes. Thus the consumption of textured vegetable protein, like soybean, is one of the plant-based proteins, which has high protein content, higher than any other meat-based products or legumes, and minimum saturated fat is increasing in country, to benefit the health of the consumers.
Global textured vgetable protein market is highly fragmented, due to the presence of numerous active regional and global players in the market. Key players in the market includes Cargill, Incorporated, DuPont de Nemours, Inc., BENEO GmbH, and MGP Ingredients, Inc, among others. The major strategies adopted by the companies in the market are new product launches, agreements/partnerships, expansions, mergers, and acquisitions. Additionally, these companies are increasing their investments in research and development (R&D) and to develop products with enhanced functionalities, in line with consumer needs, to expand their presence, and to maintain their position in the market.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Soy Textured Protein
5.1.2 Wheat Textured Protein
5.1.3 Pea Textured Protein
5.2 By Application
5.2.1 Food Products
18.104.22.168 Snacks & Functional Bars
22.214.171.124 Ready-To-Eat Meals
126.96.36.199 Meat Analogues and Meat extenders
5.2.2 Animal Nutrition
5.3.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.3.3 Asia Pacific
22.214.171.124 Rest of Asia-Pacific
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Cargill, Incorporated
6.4.2 DuPont de Nemours, Inc.
6.4.3 BENEO GmbH
6.4.4 MGP Ingredients, Inc
6.4.5 Archer Daniels Midland Company
6.4.6 Sonic Biochem Extractions Ltd.
6.4.7 Victoria Group
6.4.8 Roquette Freres
6.4.9 SHANDONG YUXIN BIO-TECH CO.,LTD.
6.4.10 CROWN SOYA PROTEIN GROUP
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/xsrph5
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