Textured Soy Protein Market Investigation Reveals Enhanced Growth during the forecast Period, 2017-2
The volume of textured soy proteins across the globe is expected to touch over 1,364,000 tons by the end of the year of assessment (2026).
[UKPRwire, Wed Apr 24 2019] Growing demand for nutritional food products is expected to drive the consumption of textured soy proteins in the coming years. In addition, vegan food products are gaining high visibility due to increasing health awareness and problems associated with meat products. A large percentage of population in the world is shifting towards vegan food and meat substitutes. This is expected to spur the consumption of textured soy proteins in the coming years. Moreover, demand for soy protein concentrates is increasing among athletes and young population. High sale of soy protein concentrates is expected to have high influence on growth of textured soy protein market in the near future. Other macro factors such as high per capita income and expenditure on health products and high protein content food items is expected to drive the growth of the global textured soy protein market.
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Global demand for textured soy proteins is expected to grow at a high rate during the period of forecast, 2017-2026, mainly supported by the increasing health trend worldwide. As awareness regarding healthy lifestyle increases, less fat & less carbohydrate content in food is becoming a major focus in regular diets across all age groups. Additionally, along with their whey counterparts, soy proteins are preferred by most athletes, being a rich protein source. Textured soy proteins are considered as the best substitutes for meat products. The rising preference for meat substitutes is therefore expected to directly influence consumption of textured soy proteins, thereby supplementing growth of the market. As these food items deliver higher amount of nutrition, preference for meat substitutes in diet plans is rising, which is a promising avenue for higher sales of textured soy proteins.
According to Fact.MRís new insightful report, the global textured soy proteins market is projected to expand at a value CAGR of 6.9% throughout the period of assessment, 2017-2026 and is estimated to reach a value a little above US$ 3 Bn by end of the year of assessment (2026). Increasing focus on healthy food and growing vegan population are few of the main aspects driving the global marketís growth.
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Demand for Soy Protein Concentrates to Encourage the Growth of the Global Market
Being rich in proteins and fibrous material, soy protein concentrates are a widely used ingredient that enhance the meal nutrition and are largely used in several food products. The consumption of soy protein concentrates is high among older population, lactating women, pregnant women as well as children. Their demand is expected to grow at a stellar rate in the coming years owing to their wide adoption in poultry products, where they are used for retention of water. This further helps in enhancing nutritional value of the food item by providing more protein content and reducing fats. These factors have spurred the consumption of soy protein concentrates worldwide, whose sales are expected to reach a value of around US$ 2 Bn by end of analysis period. The increasing sales of soy protein concentrates is poised to largely contribute to the growth of the global†textured soy protein market†in the coming years.
The global market for texturized soy proteins is characterized by growing number of regional players as well as presence of international players. Increasing collaborations with regional players to gain hold in the local market have been observed. Additionally, regional Asian markets are expected to showcase high growth potential owing to increasing preference for textured soy proteins in the region.
Companies involved in textured so proteins are focusing on grabbing major chunk in these areas thus giving rise to intense competition. Few of the key players are Archer Daniels Midland, DuPont Nutrition & Health, The Good Scents Company, Abbott Nutritionals, Kerry Group Plc. and Friesland Campina.
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