Textured Soy Protein Market To Reach US$2.73 Billion By 2022
Wednesday, March 7th, 2018 | 178 Views
The global textured soy protein market is estimated at US$1.73 billion in 2017 and is projected to grow at a compound annual growth rate of 9.5 percent from 2017 to 2022, according to market intelligence agency Research and Markets.
The textured soy protein market is predicted to reach US$2.73 billion by the end of the forecast period. The market is primarily driven by factors such as growth in demand for protein-rich foods and growing health-conscious population.
Asia Pacific is projected to be the fastest-growing market due to the increased awareness of protein-enhanced foods among buyers in China and India. The food and beverages market in the region is currently undergoing a significant transformation in response to rapid urbanisation and diet diversification.
On the basis of type, the non-GMO segment dominated the textured soy protein market. Non-GMO textured soy proteins are high protein products which are also rich in dietary fibres and minerals and contain no cholesterol, lactose, or casein. The major benefit of non-GMO textured soy protein over meat is that it contains no saturated fat.
Based on source, the soy protein isolates segment is expected to be the fastest-growing during the forecasted period. Soy protein isolates are used to improve the texture of meat products, as well as to increase protein content, enhance moisture retention, and for emulsification. The additional benefit of using soy protein isolates is their bland taste and high protein content.
On the basis of application, the meat substitutes segment accounted for the largest share in the textured soy protein market in 2017. The meaty taste and meat-like texture of textured organic soy protein are the key factors driving the market growth.