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Textured Vegetable Protein Market Trends

Report ID: GMI7512
Published Date: Nov 2023
Report Format: PDF

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Textured Vegetable Protein Market Trends

The textured vegetable protein (TVP) industry is currently shaped by several key trends. With an increasing shift towards plant-based diets, TVP is experiencing a surge in popularity as a versatile and sustainable protein source. Health and wellness trends are driving demand, with consumers seeking protein-rich alternatives with low fat and cholesterol content. The market is witnessing continuous innovation in product development, offering a variety of textures and flavors to cater to diverse consumer preferences.

As the food industry adapts to changing lifestyles and preferences, TVP finds its way into an array of culinary applications, from meat analogues to cereals and snacks. Despite initial challenges posed by the COVID-19 pandemic, the TVP market is poised for growth as it aligns with the evolving demands of conscious and health-focused consumers.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of textured vegetable protein reached USD 1.39 billion in 2022 and is set to cross USD 2.38 billion by 2032, attributed to the increasing consumer preference for alternatives to animal-based proteins.

The textured soy protein (TSP) segment accounted for USD 1 billion in revenue in 2022, due to the well-established infrastructure for soy production.

North America market generated USD 481.9 million in revenue in 2022, driven by the increasing awareness of the environmental impact of meat consumption.

Some of the leading textured vegetable protein companies are ADM, Dupont, Ingredion, Roquette Frères, and Cargill.