The global textured soy protein market is anticipated to grow at a significant rate during the forecast period owing to low processing costs associated with textured soy proteins. The increasing number of vegan and vegetarian population is also acting as a driver for the growth of the textured soy protein market. Moreover, the increasing cultivation of soy crops around the world has increased the availability of soy products like textured soy protein. This increased availability of textured soy protein is expected to drive the market growth in the coming years.
The rising awareness towards health & fitness has led to increased consumption of high protein-based food among consumers which is further supporting the demand for textured soy protein. They are also used as flavour binder in various cuisine and helps maintain moisture level in food. The growing awareness regarding the availability of low-cost protein substitutes like textured soy protein is poised to fuel the market growth by 2026.
Global textured soy protein market can be segmented based on type, source, application and region. Based on type, the market is segmented into non-GMO, organic, conventional and others. The non-GMO textured soy protein dominated the global market in 2020 and the segment is expected to undergo the fastest growth owing to the growing awareness about the harmful effects of Genetically Modified (GM) crops on health. Also, various countries including India and China have imposed restrictions on genetically modified crops which is acting as a growth opportunity for non-GMO textured soy protein market.
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