Global Textured Soy Protein Market Size (2024 - 2029)

Textured Soy Protein Market Analysis

The Global Textured Soy Protein Market size is estimated at USD 1.25 billion in 2024, and is expected to reach USD 1.73 billion by 2029, growing at a CAGR of 6.77% during the forecast period (2024-2029).

Textured soy protein has gained popularity in recent years due to the increasing demand for plant-based protein. With more individuals recognizing a plant-based diet's environmental and health advantages, the need for plant-based protein options has surged, making textured soy protein a favored choice among consumers. Textured soy protein provides numerous health benefits besides its plant-based protein content. It is a low-fat, low-calorie, and cholesterol-free protein source packed with essential amino acids. It is also a good source of dietary fiber, which can help to promote satiety and support digestive health. These health benefits have contributed to the growing popularity of textured soy protein as a meat alternative.

Increased soy crop cultivation in developing regions such as South America and Asia-Pacific, in addition to the already widespread cultivation of soybeans across the world, has increased the availability of soy products such as textured soy proteins. Raw materials for deriving textured soy protein are easy to obtain from contract farmers or oilseed crushers that offer soy meals. For instance, according to the United States Department of Agriculture (USDA), as of 2023, Brazil was the top producer of soybeans in the world, followed by the United States, Argentina, China, and India. These five countries produce over 89% of the world’s soybeans. The United States and Brazil produce around 69% of the global soybean supply.

Textured Soy Protein Industry Segmentation

Textured soy protein is a popular meat substitute made from defatted soy flour that has been extruded into various shapes and sizes. The global textured soy protein market is segmented by type, application, and geography. By type, the market is segmented into conventional and organic. By application, the market is segmented into food and beverages and animal feed. The food and beverages covered in the report include meat substitutes, dairy alternatives, infant nutrition, bakery products, cereals and snacks, and other food applications. The study also covers the global-level analysis of major regions, such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The market sizing has been done in value (USD) for all the abovementioned segments.