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Soy Protein Isolates to Account for More than Half of Textured Soy Protein Sales through 2031: Fact.MR
NEW YORK , Sept. 6, 2021 /PRNewswire/ -- As per the latest industry analysis by Fact.MR, the global textured soy protein market will total US$ 880 million in 2021. In response to the increasing demand from various end-use industries such as bakery, dairy alternatives, and others, the demand for textured soy protein is estimated to rise at a healthy CAGR of 6.4% over the assessment period 2021-2031.
There are several benefits associated with the consumption of soybean. For instance, according to a study by the National Soybean Research Laboratory (NSRL), soybean plant offers complete protein needs of the human body. Thus, rising awareness about various nutritional properties of soybean is propelling the demand for textured soy protein among health-conscious consumers.
These ingredients are increasingly preferred by fitness enthusiasts, sports person, and athletes as a preferred source of low fat, plant-based protein, which is easily digestible. The increasing vegetarian population across the globe will further bolster prospects for sales of textured soy protein.
Europe is anticipated to lead the global market, accounting for total sales revenue of more than US$ 614 million . Driven by the growing popularity of non-dairy foods and beverages in countries such as Germany , Switzerland , the U.K., and others, the region is projected to account for around 45% of the global share, exhibiting a year-on-year growth of 4.4% in 2021.
says a Fact.MR analyst.
Leading manufacturers operating in the market are focusing on enhancing their product portfolio and expanding their production capacity by adopting strategies such as establishing new manufacturing unit, acquisition, collaboration, and partnerships. For instance,
Leading market players operating in the textured soy protein market profiled by Fact.MR are:
Fact.MR, in its new report, offers an unbiased analysis of the global textured soy protein market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in textured soy protein market with detailed segmentation:
Soy Protein Hydrolysate Market - During 2017-2026, the APEJ region is expected to lead the global soy protein hydrolysate market, with an above-average CAGR. Rising per capita income and the rapid adoption of healthier lifestyles are driving demand for foods containing soy protein hydrolysate. Throughout the evaluation period, dry soy protein hydrolysate will continue to outsell the liquid variant. Dry soy protein hydrolysate sales currently account for more than 2/3 of the global market in terms of revenue.
Non-GMO Soy Protein Market - Non-GMO protein demand, in particular, is on the rise, as it encompasses overarching trends like clean label, plant-based protein, better-for-you options, healthful eating, and sustainability. Furthermore, consumer aversion to artificial products is emerging as a key growth driver in the non-GMO soy protein market. Increased keto diet adoption, snacking in place of traditional meals, and clean label have all influenced the growth of the non-GMO soy protein market.
Soy Free Protien Powder Market - The growing importance of a healthy diet and supplements in vegan diets is driving the global market for soy free protein powder. The global market for soy free protein powder supplements is expanding rapidly due to an increase in health and fitness centres and consumer health consciousness. Furthermore, growing functional advantages and various health benefits are expected to drive demand for soy free protein powder in the health market.
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