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Textured Vegetable Protein Market
Allied market Research forecasts robust growth in the textured vegetable protein market.
Consumer preference for plant-based protein options is fueling the textured vegetable protein market's expansion.” - Allied Market Research
WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, June 26, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Textured Vegetable Protein Market by Product Type, Form, and End User: Global Opportunity Analysis and industry Forecast, 2021–2027,” The global textured vegetable protein market size was valued at $987.9 million in 2019, and is projected to reach $2,139.6 million by 2027, registering a CAGR of 9.2% from 2021 to 2027.
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Textured vegetable protein (TVP) is a plant-based protein that serves as a substitute for animal-based proteins like meat and eggs. The market for TVP is experiencing significant growth, driven by a variety of factors such as the increasing demand for protein-rich foods among health-conscious consumers.
Textured vegetable protein is plant-based protein that acts as a replacement for animal-based protein such as egg, meat, and others. The demand for textured vegetable protein is expected to experience growth due to increase in demand from the health-conscious consumers looking for protein rich food.
📍Market Dynamics and Segmentation
📍Market Overview:
Textured vegetable protein (TVP) is a plant-based protein that serves as a substitute for animal-based proteins like meat and eggs. The market for TVP is experiencing significant growth, driven by a variety of factors such as the increasing demand for protein-rich foods among health-conscious consumers.
📍Driving Factors:
1. Health-Conscious Consumer Trends:
- The increasing awareness of the nutritional benefits of plant-based diets has led to a growing demand for textured vegetable protein.
- Consumers are adopting healthier eating habits and incorporating protein-rich foods into their diets.
2. Product Type Segmentation:
- The market is segmented into textured soy protein and other types. Textured soy protein is likely to dominate due to its widespread usage in various plant-based products.
3. Form Varieties:
- TVP is available in different forms such as flakes, granules, chunks, etc. The flakes segment is experiencing significant growth, especially in the restaurant industry where it is used as a meat analog in various dishes like burgers and soups.
4. End User Analysis:
- The market is categorized based on end users into business-to-business (B2B) and business-to-consumers (B2C).
- B2B is witnessing higher growth, driven by the increasing adoption of textured vegetable protein by restaurants catering to health-conscious consumers.
5. Regional Insights:
- Asia-Pacific is emerging as a key region for the textured vegetable protein market. The health and wellness trend in Asia, along with a rising population, is contributing to the growth.
- The region is witnessing a shift towards functional foods, and TVP is gaining traction as a plant-based protein source.
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📍Future Outlook:
The textured vegetable protein market is poised for continued growth as consumers increasingly seek plant-based alternatives. The trend towards healthy eating, combined with the impact of the COVID-19 pandemic, is likely to drive the market forward. Manufacturers and businesses are expected to capitalize on this trend by introducing innovative products and expanding their offerings in the plant-based protein sector.
📍Key Players
- Archer Daniels Midland Company,
- Bunge Limited,
- Goya Foods, Inc.,
- Gruma, and others.
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About US
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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