Textured vegetable protein is the by-product derived from various types of vegetable ingredients processing and is leveraged as a substitute for meat due to its same protein content. This protein is a defatted form of vegetable proteins that are very simple in their cooking procedure. These proteins are rich in fiber and contain no fat, and are highly nutritious. The growing demand in the functional drinks industry is projected to boost the market growth over the forecast period. Rapidly growing demand for Ready-to-Eat (RTE) food products due to a hectic lifestyle and busy schedules are projected to drive the market growth. But somehow, the allergies related to the vegetable protein sources, including soy and wheat, restrict the textured vegetable protein market growth. The textured vegetable protein market is expected to reach at a CAGR of 6.1% by 2026.   

Research Methodology:

The textured vegetable protein market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology and a unique balance of primary insights. The real-time valuation of the market is an important part of our forecasting and market sizing methodology. Industry experts and our primary participants have helped to compile related aspects with accurate parametric estimations for a complete study. The primary participants share is given below:

Textured Vegetable Protein Market by Source

• Soy
• Pea
• Wheat

Textured Vegetable Protein Market by Type

• Slices
• Flakes
• Chunks
• Granules

Textured Vegetable Protein Market by Application

• Meat alternatives
• Cereals & snacks
• Other applications

Textured Vegetable Protein Market by Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

In the market based on source, the soy segment has a significant share in the textured vegetable protein market. This is because it is a low-fat protein vegetable source, and it is often taken as a substitute for meat owing to the low cost compared to animal-based protein. Since textured soy is a perfect meat substitute, it is gaining more demand among vegan consumers. Thus, these soy features are majorly responsible for increasing soy demand as an essential source for textured vegetable protein.

In terms of the type of textured vegetable protein, the slice type has more demand. This is because the slices are derived by processing different kinds of beans high in protein. These slices contain very important amino acids, minerals, and vitamins that significantly impact metabolism. The textured vegetable protein slices are generally used as meat alternatives as burger patties.

The textured vegetable protein application is primarily used as the meat alternatives where meat alternatives are having the highest share in the market growth. This is attributed to the increasing awareness among the public about the benefits of protein, increasing the vegan population's rate where they prefer only vegetarian food. Additionally, the soy source protein helps chronic diseases and helps in better body function compared to meat.

As observed in the regional market, North America has a substantial share in the textured vegetable protein market. The increasing population of vegans is driving the market growth in the region. Also, the growing preference for plant-based food in hospitals since the healthcare facilities are offering vegan meals over the processed meat food boosts the demand for textured vegetable protein in this region.

Globally, consumers have reduced the intake of meat in their diet, ascribed to rising health concerns. This has resulted in increasing preference for plant-based proteins, which serve as a perfect alternative to meat products. This factor is anticipated to significantly fuel the demand for textured vegetable protein, which will eventually drive the global textured soy protein market's growth in the prevailing years.

This report offers the various leading profiles of market players such as Shandong Wonderful Industrial Group, FoodChem International, Shandong Yuxin Bio-Tech, Crown Soya Protein Group, AGT Food & Ingredients, ADM, Cargill, Beneo GmbH, CHS, Roquette Freres, DuPont, Wilmar International, Axiom Foods, The Scoular Company, Puris Foods, VestKorn, MGP Ingredients, Sun NutraFoods, La Troja, and Hung Yang Foods.

Hence, owing to the health benefits of textured vegetable protein and increasing awareness about plant-based protein compared to meat protein, the textured vegetable protein market is gaining momentum. Besides that, the importance of protein in the daily diet is the primary factor driving the product demand.

• This report offers a complete analysis of the market growth factors, hampering factors, and opportunities and challenges in the market.
• This report depicts the central regions of the textured vegetable protein market and the significant share.
• This report also describes the competitive market outlook in terms of significant market player's profiles.
• The report also gives market players information about their productive strategies, products portfolio, and new developments in the products.

1. Executive Summary
2. Industry Outlook
   1. Industry Overview
   2. Industry Trends
3. Market Snapshot
   1. Market Definition
   2. Market Outlook
      1. Porter Five Forces
   3. Related Markets
4. Market characteristics
   1. Market Overview
   2. Market Segmentation
   3. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
   4. DRO - Impact Analysis
5. Source: Market Size & Analysis
   1. Overview
   2. Soy
   3. Pea
   4. Wheat
6.  Type: Market Size & Analysis
   1. Overview
   2. Slices
   3. Flakes
   4. Chunks
   5. Granules
7. Application: Market Size & Analysis
   1. Overview
   2. Meat alternatives
   3. Cereals & snacks
   4. Other applications
8. Geography: Market Size & Analysis
   1. Overview
   2. North America
   3. Europe
   4. Asia Pacific
   5. Rest of the World
9. Competitive Landscape
   1. Competitor Comparison Analysis
   2. Market Developments
      1. Mergers and Acquisitions, Legal, Awards, Partnerships
      2. Product Launches and execution
10. Vendor Profiles
    1. Shandong Wonderful Industrial Group
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    2. FoodChem International
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    3. Shandong Yuxin Bio-Tech
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    4. Crown Soya Protein Group
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    5. AGT Food & Ingredients
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    6. ADM
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    7. Cargill
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    8. Beneo GmbH
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    9. CHS
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    10. Roquette Freres
        1. Overview
        2. Financial Overview
        3. Product Offerings
        4. Developments
        5. Business Strategy
11. Companies to Watch
    1. DuPont
       1. Overview
       2. Products & Services
       3. Business Strategy
    2. Wilmar International
       1. Overview
       2. Products & Services
       3. Business Strategy
    3. Axiom Foods
       1. Overview
       2. Products & Services
       3. Business Strategy
    4. The Scoular Company
       1. Overview
       2. Products & Services
       3. Business Strategy
    5. Puris Foods
       1. Overview
       2. Products & Services
       3. Business Strategy
    6. VestKorn
       1. Overview
       2. Products & Services
       3. Business Strategy
    7. MGP Ingredients
       1. Overview
       2. Products & Services
       3. Business Strategy
    8. Sun NutraFoods      
       1. Overview
       2. Products & Services
       3. Business Strategy
    9. La Troja
       1. Overview
       2. Products & Services
       3. Business Strategy
    10. Hung Yang Foods
        1. Overview
        2. Products & Services
        3. Business Strategy
12. Analyst Opinion
13. Annexure
    1. Report Scope
    2. Market Definitions
    3. Research Methodology
       1. Data Collation and In-house Estimation
       2. Market Triangulation
       3. Forecasting
    4. Report Assumptions
    5. Declarations
    6. Stakeholders
    7. Abbreviations