Textured Vegetable Protein Market Introduction and Overview
According to SPER Market Research, the Global Textured Vegetable Protein Market is estimated to reach USD 6.89 billion by 2033 with a CAGR of 10.75%.
The report includes an in-depth analysis of the Global Textured Vegetable Protein Market, including market size and trends, product mix, applications, and supplier analysis. A high-protein plant-based food product, Textured Vegetable Protein (TVP) is mainly prepared from defatted soy flour, however it can also be created from other protein sources, such as wheat or peas. It is a flexible component that may be processed into chunks, granules, flakes, and slices to mimic the feel of meat in vegetarian and vegan recipes. TVP is well-liked in the food sector due to its high protein content, affordability, and flavour-absorbing capacity. It's frequently applied to meatless dishes like chili, sausages, and burgers. TVP promotes dietary preferences cantered on sustainability, plant-based nutrition, and reduced environmental impact as a shelf-stable, high-protein substitute.
- June 2023; With the goal of promoting innovation and hastening the launch of new products, Roquette Freres announced the opening of Roquette's Food Innovation Centre, which will offer formulators a wide range of capabilities, including labs, scale-up testing, technical and R&D support, and state-of-the-art equipment.
- May 2023; In North America, Univar Solutions established a partnership with ICL's Rovitaris textured plant proteins. Univar hopes to give consumers in the US and Canada more alternatives when it comes to plant-based protein for food components thanks to this arrangement.
Market Opportunities and Challenges
Opportunities- Numerous factors are driving the market for textured vegetable protein (TVP). One of the main growth drivers is the rising demand from consumers for high-protein, plant-based substitutes because of ethical, environmental, and health concerns. TVP consumption has increased as a result of growing knowledge of the advantages of plant-based diets, which include lowered risk of chronic illnesses and fewer carbon footprints. The industry is also boosted by the rising number of flexitarians looking for meat alternatives as well as vegans and vegetarians. The texture and flavour of TVP have also been enhanced by developments in food processing technology, making it more enticing. Food makers and customers alike choose TVP because to its cost-effectiveness and adaptability.
Challenges- There are many obstacles facing the market for textured vegetable protein (TVP). Adoption may be constrained by a major problem: consumer mistrust about the flavour and texture of plant-based proteins in comparison to conventional meat. Additionally, even though TVP is a cheap substitute, pricing and manufacturing costs can be impacted by changes in the price of raw materials, especially soy and other plant-based sources. Some customers may also be turned off by worries about genetically modified organisms and possible allergies like soy in TVP goods. Other plant-based protein sources, such as mycoprotein and pea protein, are fierce competitors in the market. TVP manufacturers also have challenges in fulfilling changing regulatory criteria and maintaining consistent quality.
Market Competitive Landscape
Textured Vegetable Protein Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. The leading vendors are focusing on strategic alliances, partnerships, and geographical expansion to strengthen their market position. Leading companies in the industry are AGT Food & Ingredients Inc, Associated British Foods PLC, Bob’s Red Mill Natural Foods, Bunge Limited, Cargill Inc, China Foodstuff & Protein Group Co. Ltd, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Nature, By Form, By Application.
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa, and Europe.
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| Companies Covered | AGT Food & Ingredients Inc, Associated British Foods PLC, Bob’s Red Mill Natural Foods, Bunge Limited, Cargill Inc, China Foodstuff & Protein Group Co. Ltd, CHS Inc, Dixie Foods, Ingredion Inc.
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COVID-19 Impact on Global Textured Vegetable Protein Market
The market for textured vegetable proteins (TVPs) was significantly impacted by the COVID-19 pandemic. Initially, manufacturing and distribution were impacted by labor shortages and disruptions in supply networks. But as customers became more health-conscious and concentrated on sustainable, shelf-stable food options during lockdowns, the demand for plant-based protein substitutes increased. Many people turned to TVP as a dependable source of protein as they became more conscious of food security and the effects that producing meat had on the environment. Despite early logistical issues during the epidemic, this shift in consumer behaviour, together with the increasing popularity of plant-based diets, helped drive the market's rise.
Key Target Audience:
- Food and beverage manufacturers
- Plant-based product companies
- Vegan and vegetarian food producers
- Nutritional supplement manufacturers
- Retailers and supermarkets
- Wholesalers and distributors
- Restaurants and foodservice providers
- Research and development institutions
Our in-depth analysis of the Textured Vegetable Protein Market includes the following segments:
| By Type: | SoyWheatPea |
| By Nature: | InorganicOrganic |
| By Form: | ChunksSliceFlakesGranules |
| By Application: | Meat AlternativesSnacks FoodsBakeryAnimal Feed |
Key Topics Covered in the Report:
- Global Textured Vegetable Protein Market Size (FY’2024-FY’2033)
- Overview of Global Textured Vegetable Protein Market
- Segmentation of Global Textured Vegetable Protein Market By Type (Soy, Wheat, Pea)
- Segmentation of Global Textured Vegetable Protein Market By Nature (Organic, Inorganic)
- Segmentation of Global Textured Vegetable Protein Market By Form (Chunks, Slice, Flakes, Granules)
- Segmentation of Global Textured Vegetable Protein Market By Application (Meat Alternatives, Snacks Foods, Bakery, Animal Feed)
- Statistical Snap of Global Textured Vegetable Protein Market
- Expansion Analysis of Global Textured Vegetable Protein Market
- Problems and Obstacles in Global Textured Vegetable Protein Market
- Competitive Landscape in the Global Textured Vegetable Protein Market
- Impact of COVID-19 and Demonetization on Global Textured Vegetable Protein Market
- Details on Current Investment in Global Textured Vegetable Protein Market
- Competitive Analysis of Global Textured Vegetable Protein Market
- Prominent Players in the Global Textured Vegetable Protein Market
- SWOT Analysis of Global Textured Vegetable Protein Market
- Global Textured Vegetable Protein Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Textured Vegetable Protein Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Textured Vegetable Protein Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Textured Vegetable Protein Market
7. Global Textured Vegetable Protein Market, By Type (USD Million) 2020-2033
7.1. Global Textured Vegetable Protein Market Size, Share and Forecast, By Type, 2020-2026
7.2. Global Textured Vegetable Protein Market Size, Share and Forecast, By Type, 2027-2033
7.3. Soy
7.4. Wheat
7.5. Pea
8. Global Textured Vegetable Protein Market, By Nature (USD Million) 2020-2033
8.1. Global Textured Vegetable Protein Market Size, Share and Forecast, By Nature, 2020-2026
8.2. Global Textured Vegetable Protein Market Size, Share and Forecast, By Nature, 2027-2033
8.3. Inorganic
8.4. Organic
9. Global Textured Vegetable Protein Market, By Form (USD Million) 2020-2033
9.1. Global Textured Vegetable Protein Market Size, Share and Forecast, By Form, 2020-2026
9.2. Global Textured Vegetable Protein Market Size, Share and Forecast, By Form, 2027-2033
9.3. Chunks
9.4. Slice
9.5. Flakes
9.6. Granules
10. Global Textured Vegetable Protein Market, By Application (USD Million) 2020-2033
10.1. Global Textured Vegetable Protein Market Size, Share and Forecast, By Application, 2020-2026
10.2. Global Textured Vegetable Protein Market Size, Share and Forecast, By Application, 2027-2033
10.3. Meat Alternatives
10.4. Snacks Foods
10.5. Bakery
10.6. Animal Feed
11. Global Textured Vegetable Protein Market, By Region, 2020-2033 (USD Million)
11.1. Global Textured Vegetable Protein Market Size and Market Share By Region (2020-2026)
11.2. Global Textured Vegetable Protein Market Size and Market Share By Region (2027-2033)
11.1. Asia-Pacific
11.1.1. Australia
11.1.2. China
11.1.3. India
11.1.4. Japan
11.1.5. South Korea
11.1.6. Rest of Asia-Pacific
11.2. Europe
11.2.1. France
11.2.2. Germany
11.2.3. Italy
11.2.4. Spain
11.2.5. United Kingdom
11.2.6. Rest of Europe
11.3. Middle East and Africa
11.3.1. Kingdom of Saudi Arabia
11.3.2. United Arab Emirates
11.3.3. Qatar
11.3.4. South Africa
11.3.5. Egypt
11.3.6. Morocco
11.3.7. Nigeria
11.3.8. Rest of Middle-East and Africa
11.4. North America
11.4.1. Canada
11.4.2. Mexico
11.4.3. United States
11.5. Latin America
11.5.1. Argentina
11.5.2. Brazil
11.5.3. Rest of Latin America
12. Company Profile
12.1. AGT Food & Ingredients Inc
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Associated British Foods PLC
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Bobs Red Mill Natural Foods
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Bunge Limited
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Cargill Inc
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. China Foodstuff & Protein Group Co. Ltd
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. CHS Inc
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Dixie Foods
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Ingredion Inc
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.9.5. Others
3. Conclusion
4. List of Abbreviations
5. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
