Global Texturized Vegetable Protein Market to Reach US$ 2 Bn by 2029; Food & Beverages Companies See Prospects in Improving Nutritional Profile of Products: Transparency Market Research

Plant-based products that combine indulgence and nutrition are the key to expanding applications of texturized vegetable protein in food and beverages industry

Food processors are benefitting from the wide variety of texture and flavor possible with textured vegetable proteins to replace animal-based proteins and meet clean labelling requirements

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Transparency Market Research

Feb 17, 2020, 04:30 ET

ALBANY, New York, Feb. 17, 2020 /PRNewswire/ -- Manufacturers are targeting calorie-conscious consumers by offering plant-based proteins in frozen meals and dairy items. Increasing trend of ready-to-eat plant-based foods are offering new avenues of growth, observes a study by Transparency Market Research. Particularly, the study highlights the trend of growing application of texturized vegetable protein in high-protein snacks among millennial. All these trends permeating changing preferences of consumers underscore a high revenue potential in the texturized vegetable protein market.

The global texturized vegetable protein market revenue valuation was pegged at ~US$ 1.1 bn in 2019. The market which is expected to expand at a CAGR of ~6%, during 2019-2029 to touch valuation of US$ 2 bn by the end of 2029.

"The product development landscape in the texturized vegetable protein market will see players collaborating with local farmers to ensure steady supply of high. This will help them leverage sensory properties of premium-quality grains. Further, manufacturers should aim toward striking the right blend of proteins—notably the right amount of amino acids--and taste in plant-based products, opine the analysts in TMR.

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Key Findings of Texturized Vegetable Protein Market Study

Based on nature, conventional texturized vegetable protein currently leads the market by holding the major share; consumption of organic texture vegetable proteins are slowly picking pace.
Soy protein is the major product type as it held the major share in the texturized vegetable protein market in 2018; the segment is expected to rise at an impressive CAGR during 2019-2029, and reach output of ~715,800 metric tons by the period-end
Geographically, Europe and North America hold prominent shares in the texturized vegetable protein market. The presence of several companies planning to consolidate their stakes in the market provides substantial revenue boost; few are harnessing cutting-edge extrusion-based technologies to meet clean label requirements

Explore 160 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Texturized Vegetable Protein Market (Nature: Organic and Conventional; Product Type: Soy Protein, Wheat Protein, Pea Protein, Rice Protein, Faba Bean Protein, Lentil Protein, Flax Protein, Chia Protein, and Corn Protein; End Use: Household, Commercial, and Industrial [Food Industry and Animal Feed & Pet Food]; Form: Chunks, Slices, Flakes, and Granules; and Distribution Channel: Direct and Indirect) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029 at https://www.transparencymarketresearch.com/texturized-vegetable-protein-market.html

Texturized Vegetable Protein Market: Key Driving Factors

Analysts at TMR foresee the growing trend of veganism a key factor that impacts the consumer demand in the texturized vegetable protein market. A fact attributing this trend is growing sales of plant-based food and beverages in some countries. These proteins have also become a popular way for food and beverages manufacturers in countries to adopt clean labeling regulations. The growth dynamic is evident among frozen and dairy manufacturers. New product launches have focused on meeting the protein needs of consumers seeking new plant-based food products. Advances in texturizing proteins have allowed end-use industries to unveil meat alternatives.

Key Impediments to Texturized Vegetable Protein Market Players

Despite several promising avenues in the texturized vegetable protein market, there are a few notable challenges hindering players to tap into these avenues. A few factors worth mentioning are:

High expectation of consumers of plant-based products in relation to taste and flavors has raised the ante for incumbent regional and global players.
Finding right blend of proteins involving pea and rice is also a challenge.

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Texturized Vegetable Protein Market: Region-wise Analysis

On the regional front, North America and Europe are prominent markets. Players in the regional markets are leaning on tapping into vast opportunities emanating from the increasing trend of vegan foods and the shift toward flexitarian diets. These regional markets have also benefitted from stringent implementation of clean label requirements. Focus of the food industry to help lower the carbon footprint of meat industry has also catalyzed demands for the use of texture vegetable protein in high-protein plant-based food, especially in convenience food segment.

Analyze texturized vegetable protein market growth in 30+ countries including US, Canada, Germany, United Kingdom, India, China, and Japan. Request a sample of the study.

Competition Landscape

The presence of several players in the texturized protein market makes it increasing fragmented. The leading player holds a mere 14% of the total share. Various food processing companies are expanding their production facilities in emerging markets. Finding the right mix of plant proteins is a challenge for them, which top players will focus on to consolidate their positions on the texturized vegetable protein market. In addition, players provide an array of texturized vegetable proteins by meeting the protein needs of nutritional supplements manufacturers.

Key players include Crown Soya Protein Group, Puris Proteins, Roquette Frères, MGP Ingredients, Vestkron A/S, and Cargill Inc.

The texturized vegetable protein market is segmented on the basis of:

Nature

Organic
Conventional

Form

Chunks
Slices
Flakes
Granules

Product Type

Soy Protein
Wheat Protein
Pea Protein
Rice Protein
Faba Bean Protein
Lentil Protein
Flax Protein
Chia Protein
Corn Protein

End Use

Household
Commercial
Industrial
Food Industry
Snacks and Functional Bars
Ready Meals
Sport Nutrition
Clinical Nutrition
Baby Food
Meat Analogues/ Meat Extenders
Others
Animal Feed & Pet Food

Distribution Channel

Direct
Indirect
Store-based Retailing
Hypermarkets/Supermarkets
Convenience Stores
Traditional Grocery Retailers
Online Retail

Region

North America

U.S.
Canada

Latin America

Brazil
Mexico
Argentina
Rest of Latin America

Europe

U.K.
France
Germany
Italy
Spain
BENELUX
Russia
Poland
Rest of Europe

East Asia

China
Japan
South Korea

South Asia

India
Thailand
Indonesia
Malaysia
Singapore
Rest of South Asia

Oceania

Australia
New Zealand

Middle East & Africa

GCC Countries
South Africa
North Africa
Central Africa

Explore Transparency Market Research's award-winning coverage of the global Food and Beverages Industry,

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Precooked Corn Flour Market - Sales of precooked corn flour is expected to exceed 1.1 million metric tons in 2019, and record a Y-o-Y growth of ~5% in 2020. The rising demand for bakery products in the food industry is fueling the demand for precooked corn flour.

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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