Rise in number of vegan populations, surge in its usage as meat substitute or extender, and increase in demand from the feed industry augment the growth of the global textured soy protein market. North America held the largest market share in 2018, accounting for more than one-third of the global textured soy protein market. The global lockdown has significantly disrupted both the supply chain and value chain in the food industry.
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐ง๐ต๐ฒ ๐ ๐ซ๐๐ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐ฃ๐๐ ๐ข๐ณ ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.alliedmarketresearch.com/request-sample/6130
Textured soy protein (TSP) is obtained from defatted soy flour, which is produced by grinding defatted soy flakes. Textured soy protein has substantial protein content and fiber with low fat. It is available in dried chunks, powder, or granular form in the market. It has a mild taste, but can be added to the meals to increase their protein content. Moreover, textured soy protein has a similar texture to beef and other meats, and thus are used as a substitute to meat products. In addition, in the view of the fact that plant-based food has less protein content as compared to animal food, textured soy protein is valuable for those consumers who do not consume meat. This fact has majorly drives the global textured soy protein market growth.
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The key players operating in the textured soy protein industry are DuPont, Archer Daniels Midland Company, Cargill, Incorporated, CHS INC, Kellog Company, Wilmar International Ltd, Bobโs Red Mill Natural Foods., Gushen Biological Technology Group Co., Ltd, Pacific Soybean & Grain, and Gremount International Company Limited.
According to the Food and Agriculture Organization (FAO), soybean remains the most important and preferred source of high-quality vegan protein for animal feed production. This fact has driven the growth of the textured soy protein market. Moreover, India, China and some of the key European countries have witnessed higher number of vegan population in the recent past. This is attributed to rise in awareness about the health benefits associated with consumption of plant-based protein such as textured soy protein. Thus, all these factors are anticipated to boost the growth of the global textured soy protein market in the forthcoming years.
๐๐ฎ๐ฒ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ (210 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ): https://www.alliedmarketresearch.com/checkout-final/ee84be6d01c2fa2670146b803cc5f65a
Key Findings of the Textured Soy Protein Market:
- By nature, the conventional segment accounted for the highest textured soy protein share in 2018, growing at a CAGR of 8.3% from 2019 to 2026.
- On the basis of application, the food & beverages industry segment accounted for about 89.3% of the textured soy protein market share in 2018, and is expected to experience growth at the highest CAGR of 8.5%.
- Region wise, North America accounted for about 36.6% of share in 2018, and is expected to grow at a CAGR of 8.3% during the forecast period.
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Soybean meal is one of the major source of protein sources of feed and is being traded on commercial level on the basis of protein content. Soy protein concentrate (SPC) contains 63-65% of protein, and is the prime raw material in farmed salmon feeds. Textured soy protein is expected to endure significant growth of value sales due to rise in awareness about the higher protein (60-85%) composition of the product among feed formulators.
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