Market Highlights
Textured Soy Protein (TSP), is a vegetable protein processed from soy beans and is available in a fibrous form. TSP is gaining huge demand since it functions as a meat analogue in a variety of food items. It is also a low-calorie and low-fat source of vegetable protein. Textured soy protein market share is growing substantially, owing to the high consumption of meat alternatives and plant sources protein with essential amino acids and numerous nutrients. Textured soy proteins have the properties of phytochemicals and fibers that improve the digestive system.
Soy beans are processed into textured soy products by means of extrusion process. Soy beans in the extruder can pass through a nozzle at a temperature of 150-200 °C, while still hot and gradually expanding with time. The soy beans are heated so that the heat denatures the soy beans into a fibrous, insoluble, porous network that can soak up as much as three times its weight in liquids.
Textured soy protein products are used to extend or replace meat products in food industry to manufacture meat substitutes, extenders, and analogues. Soy is grown organically and conventionally, where organic soy plays an upper hand with beneficial nutritional properties due to its higher protein content and lower saturated fat levels as compared to conventional soy.
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Regional Analysis
North America currently leads the world in soybean production and most of the soybean produce is crushed to extract oil. The US, Brazil, and Argentina collectively account for more than 90 percent of world export of soybeans, soybean meal, and soybean oil. Consumers in developing countries have been observed to change their dietary patterns with increase in the per capita disposable income. Vegan consumers are increasing in the US where these people seek for protein source other than animals. Vegan consumers highly depend on textured soy proteins for protein in their diet. The US is a matured market with strong economy contributing heavily towards meat alternatives including textured soy proteins, thereby giving a scope for manufacturers to be a part of the growing textured soy protein market share. Europe has been a steady market for textured soy proteins owing to the shift towards healthier eating habits. Asia-Pacific is seen to the fastest growing market for textured soy proteins due to ever-increasing population, globalization of eating trends, rising per capita disposable income in developing economies.
Segmentation
The global textured soy protein market share has been segmented into type, form, and application.
The market on the basis of type has been segmented into conventional and organic.
The market, by form, has been segmented into soy protein concentrates, soy protein isolates, and soy flour.
The market, by application, has been segmented into meat substitutes, dairy alternatives, infant nutrition, bakery products, cereals & snacks, and feed.
Key Players
Some of the key players in the global textured soy protein market share are Archer-Daniels-Midland Co. (U.S.), Cargill, Inc. (U.S.), Dow DuPont (U.S.), Wilmar International Ltd. (Singapore), Victoria Group (Serbia), Bremil Group (Brazil), Linyi Shansong Biological Products Co., Ltd. (China), Shandong Yuxin Bio-Tech Co., Ltd. (China), Crown Soya Protein Group (China), Sonic Biochem Extractions Ltd. (India), and Hung Yang Foods Co., Ltd. (Netherlands).
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