Global Textured Vegetable Protein Market – Market Size & Forecast To 2032

GLOBAL TEXTURED VEGETABLE PROTEIN MARKET – MARKET SIZE & FORECAST TO 2032

The global textured vegetable protein market is estimated to be worth of USD 1,460.4 million in 2023 and is growing at a CAGR of 7.06% during the forecast period from 2023 to 2032. Vegetable proteins that have been altered to resemble meat in texture are known as textured vegetable proteins. The finished textured vegetable protein product has a chewy, fibrous texture. 'Food items generated from edible protein sources and characterized by having structural integrity and recognizable texture such that each unit will resist hydration in cooking and other methods used in preparing the food for consumption' is how texturized vegetable proteins are described. The most popular foundation ingredients for textured vegetable proteins are soy proteins. Proteins from cottonseed, corn, wheat, peanuts, and other sources can, nevertheless, be texturized. Thermoplastic extrusion and fiber spinning are two frequently used techniques for texturizing proteins. In contrast to the spinning method, which starts with isolated proteins (90% protein), the extrusion process employs either soy flour (50% protein) or soy protein concentrate (70% protein) as the starting material.

The food processor can employ the numerous different textured vegetable proteins that are offered on the market in a number of ways. The main application is in goods that incorporate ground beef. In canned meat products like chilli, sloppy Joes, spaghetti sauces, meat stews, and meat sauces, textured vegetable proteins may be used to supplement or totally replace ground meat. It can lengthen the shelf life of ground beef in canned goods like meatballs and patties.

Increased public awareness of health and fitness, the relevance of plant-based nutrition, rising obesity rates throughout the world, and the rise of the nutrition business are a few reasons that are anticipated to support the market for textured vegetable protein supplements. Production of texturized vegetable protein is rising to keep up with the millennial generation's increased need for snacks. The millennial generation is known to like high-protein snacks more than any other age group. As a result, nutritional bars are being introduced by ingredient producers to satisfy customers' 'on-the-go' snacking requirements. Additionally, the market's rising desire for nutrient-dense meals is anticipated to drive up demand for textured vegetable protein. Consumers are refocusing on healthy diets and increasing their protein intake as a result of greater understanding of the advantages of nutritional and health goods. As a result, the market for textured vegetable protein is growing rapidly.

The Food Science and Health Database Organization states that as of 2018, 22 million UK people now identify as 'flexitarians,' considered not as a fad diet, but a permanent lifestyle choice, particularly most popular among extremely influential millennials. Thus, it is anticipated that the textured vegetable protein market would be driven by the rising vegan and flexitarian populations throughout the projected period. In addition to the extensive cultivation of soybean and wheat grains across the world, there is now an increased availability of soy and wheat products, such as textured vegetable proteins, due to increased soy and wheat crop growth in emerging countries like South America and Asia Pacific.

The textured vegetable protein market report has been segmented by type, forms, source, nature, distribution channel, application, end use and region.

Based on type, the market is bifurcated chunks, slices, granules, and flakes.

Among these, the flakes subsegment is anticipated to held a notable share in the market. Flakes of textured vegetable protein are low in fat and high in protein. They keep the body's vital amino acid balance in check, which is necessary for the growth of muscles, connective tissues, and enzymes. They are proteins in their most basic form. The flakes have a protein level that is around 50% greater than the other forms of protein. In many different applications, including cereals, snacks, pies, and burger patties, flakes made from defatted flour are used to replace meat with hydrated textured protein flakes. The size of the flakes that producers of textured vegetable protein give ranges from 1 mm to 10 mm. The demand for textured vegetable protein flakes among processed food producers is increasing, supporting the market expansion, as more consumers switch to a vegan or vegetarian diet and desire plant-based sources of protein.

On the basis of forms, the market is bifurcated into dry and wet.

The wet form subsegment is expected to held a remarkable share in the market. Hydrated, textured vegetable protein has a fibrous meat-like texture and excellent moisture retention, making it ideal for meat and meat substitute applications. In its dry state, it offers distinctive textures that are common to many of the most well-liked bars and snacks. One of the primary factors driving the market for organic textured vegetable protein is consumers' increasing knowledge of the affordable organic protein options available. For the purpose of extracting the protein fraction from organic soy, pea, and wheat, several methods, including cell disruption, solubilization/precipitation, and enrichment systems, are employed. The organic textured wheat protein is advantageous to health since it contains magnesium. Magnesium significantly reduces insulin resistance, which enhances the body's responsiveness to insulin. As a result, the magnesium and zinc in the organic wheat flour assist control blood sugar and stave against diabetes.

Based on source, the market is categorized into pea, wheat, soy, and others.

Among these, the wheat protein subsegment is expected to held a notable share in the market. Wheat protein is produced by removing non-protein elements of wheat, such as carbs and starch. Wheat protein is further divided into textured wheat protein, wheat protein isolates, and wheat protein concentrates. Textured wheat protein is derived from wheat and is regarded as a high-protein food that might substitute meat for vegetarians and vegans. It is appropriate for a variety of applications, including meat substitutes, ready-to-eat meals, fillings, emulsified meat, and various protein snacks and bars, thanks to its neutral flavor profile and stable, hydrated texture. The textured wheat protein provides a meat-like texture after being hydrated and is used to replace some or all of the meat in dishes. It is available in chunks, flakes, strips, and granules. The increased interest in health and wellbeing in North America and Western Europe is driving up demand for textured wheat protein.

On the basis of nature, the market is segregated into organic and conventional.

The organic subsegment is anticipated to held a notable share in the market owing to the rise in veganism and health concerns like cardiovascular illnesses have raised the demand for organic based protein, which has led to the expansion of this business. Because of their claimed health advantages in preventing and treating obesity, which is a problem that is widespread around the world, organic proteins are also growing in popularity among consumers.

On the basis of distribution channel, the market is divided into off-trade, and on-trade.

Among these, the on-trade subsegment is anticipated to held a notable share in the market owing by the expansion of the online meal delivery business, where a number of smartphone applications are progressively expanding their addressable market.

Based on application, the market is categorized into meat alternatives, cereals & snacks, dairy alternatives, infant nutrition, bakery products, and animal feed.

Among these, the cereals & snacks subsegment is anticipated to held a notable share in the market. Manufacturers are now using textured proteins in new product categories including cereals and snacks as a result of the rising demand for vegan and plant-based food alternatives. Granules and flakes of textured protein are used to make them more widely accepted by customers and to include them into cereals and snack foods. Since they were first used to enhance the texture of the finished product, textured protein has taken on a much larger role in cereals and snack foods. However, the usage of textured proteins has significantly increased as a result of the development of new sources, such as wheat and pea. The current line of snack goods includes canned meals, packaged crisps, vegan jerky made from textured soy or peas, and other faux meat items. Flavored flakes are used to enhance the flavor and nutritional value of cereals' textured proteins.

Based on end use, the market is categorized into household, commercial, industrial.

Among these, the commercial subsegment is anticipated to held a remarkable share in the market. This can be attributed to consumers' busy lives, which raises demand for foods with functional properties like textured vegetable protein, which provides important nourishment and promotes physical and mental wellbeing. However, throughout the projected period, the business-to-business category is anticipated to increase at the greatest CAGR.

Based on region, the textured vegetable protein market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2022, the Europe accounted for the significant share xx.xx% in the global Textured Vegetable Protein Market. This region was valued at USD xx.xx million in 2022, and it is projected to grow at a CAGR of xx.xx% during the forecast period, reaching USD xx.xx million by 2032.

North America region is expected to held a significant share in the market. The main elements influencing its rise are the region's growing health consciousness and the vegan population. However, the Asia Pacific region is also predicted to held a notable share in the market owing to growing soy bean output and increased consumer knowledge of the health advantages of soy are driving regional market expansion. One of the biggest buyers in this area is China. It represented sizeable portion of the Asia Pacific market.