Textured Vegetable Protein Market Is Estimated To Witness High Growth Owing To Growing Health Consciousness And Shift Towards Veganism
The textured vegetable protein market is estimated to be valued at USD 3.58 billion in 2024, exhibiting a CAGR of 7.5% over the forecast period (2024-2031). Furthermore, the market is driven by growing health consciousness and increasing adoption of veganism among consumers globally. People are inclined towards plant-based products due to awareness about various health benefits such as reduced risk of obesity, heart disease, diabetes, and some types of cancer associated with their consumption.
The textured vegetable protein market is primarily driven by two key factors. Firstly, the growing shift towards veganism and flexitarianism globally has increased the demand for meat alternatives. People are incorporating more plant-based food in their diet for health, ethical and environmental reasons. Secondly, the increasing cases of lifestyle diseases such as obesity and diabetes coupled with growing health consciousness has propelled the consumption of plant-based food with nutritional value. Textured vegetable proteins act as a rich source of protein and helps manage weight. Additionally, textured vegetable proteins have low saturated fats and calories, thus gaining popularity among diet-conscious consumers. The major players are investing in new product launches with varied flavors and textures to appeal to a larger consumer base.
Increasing Consumer Preference Towards Plant-based Meat Alternatives
The growing demand for meat alternatives by health-conscious consumers is a key driver for the textured vegetable protein market. With increasing awareness about the health risks associated with red meat consumption and the environmental impact of industrial animal agriculture, more people are switching to plant-based meat substitutes. Textured vegetable protein is a popular ingredient used in vegetarian meat substitutes and alternative meat products as it mimics the texture and flavor of meat. Major food companies are launching a variety of tasty and nutritious veggie burgers, sausages, and nuggets made with textured soy or pea protein to cater to this fast-growing consumer segment.
Rising Obesity Rates and Health-conscious Lifestyles
According to the World Health Organization, obesity rates have tripled globally since 1975 and continue to rise rapidly in many countries. The growing epidemic of obesity, heart diseases, and diabetes is fueling the demand for healthier plant-based meat substitutes. Textured vegetable proteins provide a meat-like eating experience without cholesterol and saturated fat. They are also a good source of proteins, fibers, vitamins, and minerals. With more consumers adopting balanced diet and healthy lifestyle to manage their weight and lower disease risks, the usage of textured soy and pea proteins in vegetarian convenience foods is increasing significantly.
Competition From Other Meat Alternatives
While textured vegetable proteins hold an advantage due to their meat-like texture, they face strong competition from other plant-based meat substitutes in the market. Newer alternatives such as soy chunks, wheat gluten, jackfruit, mushrooms, and 3D printed meat are becoming increasingly popular among vegetarians and flexitarians. Food companies are also launching innovative blended ingredients made from multiple plant sources like pea, lentil, chickpea etc. This diversity in meat substitutes provides consumers with varied choices and hampers the exclusive use of textured vegetable protein specifically.
Issues With Flavor and Sensory Attributes
Lack of savory and meat-like flavors is a key limitation associated with vegetable proteins like soy and wheat gluten. Texturized soy chunks and gluten pieces may resemble meat in texture but fall short on the taste factor. Efforts are underway by ingredient suppliers to develop flavor-enhanced and soy-based seasoning mixes for TVP but they are unable to fully replicate the complex flavors of animal protein. This results in lower consumer acceptability compared to plant-based meat analogs marketed as direct meat replacements. Overcoming the flavor barrier remains a challenge limiting mainstream adoption.
Innovations in Processing Technology
Advancements in processing techniques such as extrusion cooking, fiberization, and micronization are helping manufacturers design TVPs with superior texture, appearance and sensory properties. Single-screw and twin-screw extruders when used optimally aid in producing protein filaments, chunks and strips that closely imitate meats. Emerging technologies focused on molecular gastronomy principles also offer ways to structurally organize plant proteins at micro level for intense meat-like experiences. Continuous innovations will expand the applications of textured vegetable proteins into new hybrid analogs.
Growth of Prepared and Convenient Meals Segment
Driven by busier lifestyles, the demand for ready-to-eat and easily prepared plant-based meals is growing rapidly. Textured vegetable proteins are widely used as key ingredients in packaged vegetarian burger patties, nuggets, patties, creations and sausages by major food brands. Their ability to hold textures and impart desirable mouthfeel makes TVPs suitable for portion-controlled, seasoned, and fully/partially cooked formats. This burgeoning segment of prepared vegetarian foods presents significant opportunities to drive the future consumption of value-added textured proteins.
Link: https://www.coherentmarketinsights.com/market-insight/textured-vegetable-protein-market-5160
Key Developments
- In February 2022, MGP Ingredients Inc., a leading provider of specialty proteins and starches, announced that it would build a technologically advanced extrusion plant to produce its ProTerra line of texturized proteins. The new plant will be located adjacent to the company’s existing Atchison, Kansas, plant. Once online in late 2023, the new extrusion plant is expected to produce up to 10 million pounds of ProTerra per year.
- In 2022, DSM introduced the world's first textured vegetable protein that is a complete protein, soy-free, and gluten-free.
- In 2021, Archer Daniels Midland Company acquired Sojaprotein, a Serbia-based manufacturer of non-GMO vegetable protein ingredients with sales in over 65 countries worldwide. This acquisition aimed to enhance Archer Daniels Midland's production capabilities in the protein ingredients sector and establish a solid presence in Eastern Europe.
Key Players
Archer Daniels Midland Company, International Flavors & Fragrances Inc., Cargill, Südzucker AG, MGP Ingredients Inc, Roquette Frères, Shandong Yuxin Biotechnology Co., Ltd , Crown Soya Protein Group Company, The Scoular Company, Axiom Foods, Inc. , AGT Food and Ingredients, DuPont, DSM, PURIS, BENEO, Kansas Protein Foods LLC, Foodchem International Corporation, Dacsa Group, VestKorn, and Wilmar International
