New York, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Textured Vegetable Protein Market Size, Share & Industry Trends Analysis Report By Application, By Type, By Source, By Form, By Nature, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06322375/?utm_source=GNW
This has traditionally served as the primary source of vegetable protein, coming in powdered, granulated, and textured forms for usage in a variety of applications and end-use markets. Many businesses use vegetable proteins because of their nutritive value and textural qualities.
The modern consumer prefers vegetable protein over animal-supplied proteins because it offers the same nutritional profile as a diet high in complete proteins without the drawback of animal cruelty that is present in typical animal-derived proteins. A sizeable portion of the population in western nations has switched to a diet with less meat intake and is now demanding nutritious and delectable meat-free food items.
Food manufacturers are putting more emphasis on vegetable proteins including pulses, soy protein, and wheat gluten which are processed into meat-like products known as meat analogues, as a result of changes in consumer consumption patterns. The texture, flavor, color, and nutritional properties of particular types of meat are only a few of the aesthetic aspects that these goods imitate.
The market is anticipated to grow as aquaculture firms’ need for soy protein isolates rises. Textured soy protein is high in demand and is used in feed. Livestock producers have identified the health advantages of including textured soy protein isolates in animal diets, which is anticipated to increase soy protein isolate sales. In a world where population and food scarcity are growing, aquaculture manufacturers are looking for more effective & long-term solutions to raise healthy species to fulfill escalating market requirements.
COVID-19 Impact Analysis
The demand for textured vegetable protein supplements, which support the body’s overall health and optimal performance by supplying necessary nutrients, is anticipated to rise as a result. Human tissues and cells need protein derived from plants to develop and repair. Along with serving as the basis for strong muscles and tissues, plant protein helps people lose weight. It is generally known how nutrition affects the immune system. Recent studies have highlighted the necessity of consuming enough amounts of specific nutrients, such as protein in COVID-19, elevating the significance of consuming textured soy protein.
Market Growth Factors
Emerging Trend Of Vegan Diet Among Consumers Across The World
Vegetable protein is crucial product for a vegan or in vegetarian diet. People frequently turn to vegetable protein supplements to attain the necessary nutritional profile that would arise from a purely vegan diet. As the number of vegans grows, more businesses are attempting to adapt to the evolving food scene and are introducing more goods with vegetable protein to the market. Thus, it is anticipated that the textured vegetable protein market will be driven by the rising vegan and flexitarian populations throughout the forecast period.
Development In The Extraction Of TVPS From Innovative Sources
Soy, wheat, and pea are the conventional sources of obtaining textured vegetable protein. Other sources, like rice lentils, fava, oats, and chia seeds, have been investigated by manufacturers. Plant-based protein, as well as a number of other vitamins and minerals, are abundant in fava. They include a lot of soluble fiber, which can help with digestion and decrease cholesterol. High-protein, edible pulses that grow in pods include lentils. In various regions across the globe, they have been offered for sale.
Market Restraining Factors
The Awful Flavor Of Soy
The shifting tastes of consumers have spurred the need for meat alternatives and raised the requirement for textured soy protein, reducing the usage of animal proteins in food items. The flavor of soy components, which is attributed to the lipoxygenase enzyme’s action on soybean oil, is one of the main reasons why soy products have been used less frequently in western nations such as the US, UK, and Germany. The lipoxygenase breaks down the soy oil during the hydration and milling process into other compounds, including hexanal. The flavors of these compounds are unpleasant.
Type Outlook
Based on type, the textured vegetable protein market is segmented into chunks, flakes, slices, and granules. In 2021, the flakes segment acquired a significant revenue share in the textured vegetable protein market. Flakes 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.
Application Outlook
On the basis of application, the textured vegetable protein market is fragmented into meat alternatives, cereals & snacks and other applications. The meat alternative segment held the maximum revenue share in the textured vegetable protein market in 2021. Textured vegetable proteins can be used as a meat extender and are less expensive than most meats, which helps save money.
Source Outlook
By source, the textured vegetable protein market is divided into soy, wheat and pea. The soy segment led the textured vegetable protein market with the highest revenue share in 2021. Soy products are becoming more prevalent in the food service sector as a result of the soy protein’s well-known health and nutritional benefits as well as the additional advantages of its low moisture and low-fat content.
Form Outlook
Based on form, the textured vegetable protein market is classified into dry and wet. The wet segment procured a substantial revenue share in the textured vegetable protein market in 2021. This segment mainly includes protein shakes and other protein drinks. The protein shakes are in high demand due to the convenience to consume these shakes coupled with the active lifestyle of people nowadays.
Nature Outlook
By nature, the textured vegetable protein market is bifurcated into organic & conventional. In 2021, the conventional segment witnessed the highest revenue share in the textured vegetable protein market. Conventional TVP (textured vegetable protein) is less expensive than most meats and can be used as an extender with fresh meat to save money.
Regional Outlook
Region wise, the textured vegetable protein market is analyzed across North America, Europe, Asia Pacific & LAMEA. In 2021, the North America region held the highest revenue share in the textured vegetable protein market. In response to shifting customer preferences in the region, major ingredient producers like DuPont, Cargill, ADM, and CHS have been enhancing their product development capabilities. As a result of the availability of numerous current and future processing facilities in Canada, it has been among the world’s largest producers of peas for textured pea protein.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Koninklijke DSM N.V. and Archer Daniels Midland Company are the forerunners in the Textured Vegetable Protein Market. Companies such as Ingredion, Incorporated, Roquette Frères SA, BENEO GmbH (Südzucker AG) are some of the key innovators in Textured Vegetable Protein Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cargill Corporation, Archer Daniels Midland Company, Kansas Protein Foods, Ingredion, Incorporated, Koninklijke DSM N.V., Roquette Frères SA, The Scoular Company, Foodchem International Corporation, BENEO GmbH (Südzucker AG), and Axiom Foods, Inc.
Recent Strategies Deployed in Textured Vegetable Protein Market
Partnerships, Collaborations and Agreements:
May-2022: Cargill signed an agreement with Cubiq, a technology-driven, market-leading provider of integrated solutions. Under this agreement, Cargill would promote and sell Cubiq’s products.
Sep-2021: Royal DSM entered into a partnership with Meatable, a Dutch cell-based meat manufacturer. The partnership aimed to jointly develop affordable growth media for cultivated protein. The partnership focused on the development of meat-like taste & textures a challenge that both fermented and plant-based alternatives have continued to face in the final product.
Jul-2020: Archer Daniels Midland Company entered into a partnership with Imagine Meats, a venture which promises to boost plant-based innovation in India. By this partnership, Imagine Meats would leverage ADM’s portfolio of protein ingredients and applications labs to create traditional Indian dishes & other popular products such as kebabs, biryanis, and curries. The companies would firstly work on soy and pea proteins, and other alternative proteins, to achieve the desired taste and texture profile in their spearheaded meatless offerings.
Product Launches and Product Expansions:
Jun-2022: Roquette introduced NUTRALYS, a range of organic textured proteins from pea and fava. The launch would improve the company’s strong position on the overall protein market and support the company’s effort to be the best partner for consumers wishing to produce innovative and delicious plant-based foods.
Jul-2021: Ingredion launched Vitessence Tex Crumbles 102, a structured protein derived from peas. Ingredion’s broad plant-based protein portfolio & tested formulation experience mean that producers have a complete toolkit for manufacturing alternative meat products that copy the bite and chew of animal proteins along with balancing texture, taste, and functionality.
Dec-2020: Ingredion expanded its existing product portfolio by introducing VITESSENCE Pulse 1803. The expansion would enable food & beverages producers across EMEA to meet rising customer demand for protein-rich products, in a broad range of on-trend categories.
Sep-2020: ADM released Arcon T textured pea proteins, Prolite MeatTEX textured wheat protein, and Prolite MeatXT non-textured wheat protein. These highly-functional protein solutions enhance the texture & density of meat alternatives and are particularly useful for achieving customer-preferred, meat-like texture.
Acquisitions and Mergers:
May-2022: BENEO took over Meatless, a British company that produces vegan, plant-based meats. The acquisition would broaden the company’s portfolio with a versatile selection of plant-based solutions that serve as texturizers for meat and fish alternatives. Also, this acquisition would reaffirm Beneo’s goal to strengthen its business with solutions for plant-based alternatives.
Dec-2021: Royal DSM acquired Vestkorn Milling, one of Europe’s leading producers of pea- and bean-derived ingredients for plant-based protein products. The acquisition aimed at building an alternative protein business and would provide synergy with DSM’s innovative CanolaPRO rapeseed protein isolate, which would be commercially launched next year.
Nov-2021: Archer Daniels Midland took over Sojaprotein, a European company specializing in non-GMO soybean ingredients. Through this expansion, the company aimed at expanding its capabilities to meet the rapidly increasing demand for innovative protein solutions as the company grows the nutrition business all around the world.
Apr-2021: Ingredion signed an agreement to acquire KaTech, a German food tech company. The acquisition would complement Ingredion’s existing specialty ingredient portfolio.
Geographical Expansions:
Apr-2022: Cargill expanded its geographical footprints in the Middle East, Turkey, Africa (META) & India by introducing RadiPure pea protein in these regions. This expansion would help food & beverage manufacturers in the region respond to evolving marketplace trends. While customers are looking for alternatives to raise their protein intake, they do not want to compromise on taste and texture. In addition, RadiPure pea protein would help companies meet this rising demand in the market.
Apr-2022: ADM expanded its geographical footprints in Decatur by making an investment of around $300 million. The expansion focused on providing alternative protein production. Additionally, this would improve the alternative protein abilities by opening a state-of-the-art Protein Innovation Center in Decatur. The expansion would significantly enhance ADM’s alternative-protein capabilities.
Dec-2020: Cargill expanded its geographical footprints in Europe by expanding its portfolio in the region. Through this expansion, the company aimed to introduce RadiPure & Puris in the region. Along with that, the company would meet the functional and sensory challenges in alternative emerging applications. In addition, the new additions would complement the agri-food supplier’s present offerings in Europe, which include the Gluvital vital wheat gluten and Prowliz hydrolyzed wheat protein brands.
Scope of the Study
Market Segments covered in the Report:
By Application
• Meat Alternatives
• Cereals & Snacks
• Other Applications
By Type
• Slices
• Flakes
• Granules
• Chunks
By Source
• Soy
• Wheat
• Pea
By Form
• Dry
• Wet
By Nature
• Conventional
• Organic
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Cargill Corporation
• Archer Daniels Midland Company
• Kansas Protein Foods
• Ingredion, Incorporated
• Koninklijke DSM N.V.
• Roquette Frères SA
• The Scoular Company
• Foodchem International Corporation
• BENEO GmbH (Südzucker AG)
• Axiom Foods, Inc.
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