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Textured Vegetable Protein Market to reach $2,139.6 million | Scope and overview, Overview with details Analysis, Competitive Landscapes, Forecast to 2022-2031

The global textured vegetable protein market was valued at $987.9 million in 2019, and is projected to reach $2,139.6 million by 2027, registering a CAGR of 9.2% from 2021 to 2027.

Textured vegetable protein is a type of plant-based protein derived from pea, soyabean, wheat, and others. It offers similar texture and taste like meat; therefore, there is an increase in adoption for textured vegetable protein as a meat substitute.

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Moreover, different types of textured vegetable protein such as textured soy protein, textured wheat protein, textured pea protein, and others are available in the market. Textured vegetable protein majorly textured soy protein is easily accessible to the consumers around the world through various distribution channels including supermarkets, hypermarkets, grocery stores, online stores, and others.

Trends like development of new supermarkets and hypermarkets are forecast to create favorable opportunities. Moreover, rising disposable income and growing demand for advanced one-stop solutions would further expand the industrial growth in the coming years.

The value of FMCG sector is forecast to reach US$ 18.5 billion by the end of the year 2028, and is anticipated to grow at a CAGR of 4.9% in the forecast period. Of all the regions, North America is dominating the entire FMCG sector and is forecast to hold the largest market share during the study period. North America FMCG sector is growing significantly owing to change in lifestyles, growing number of supermarkets, and rising urban population. Moreover, the Asia-Pacific is forecast to record the CAGR of 7.8%, because of changing lifestyles, increasing urbanization, and rising employment rate. Apart from that, increasing focus of companies and organizations towards R&D and new product launches would further boost the popularity of FMCG domain and escalate the regional growth of the market.

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This in turn drives the growth of the market in terms of value sales.
There is an increase in number of health-conscious consumers who prefer vegetable sources for proteins as nutritional and functional food. This drives the growth of the textured vegetable protein market. However, the easy availability of its substitutes in the market is likely to restrict the growth of the market during the forecast period. Nevertheless, product innovation and rise in demand for organic protein rich food are the factors expected to bring new opportunities for the textured vegetable protein market during the forecast period in terms of value sales.

The textured vegetable protein market is segmented into product type, form, end user, and region. By product type, it is bifurcated into textured soy protein and others. By form, the market is classified into flakes, granules, chunks, and others. By end user, it is divided into business to business and business to consumers. By region, the textured vegetable protein market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India,, Japan, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).

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The key players operating in the global textured vegetable protein market focus on prominent strategies to overcome competition, and maintain as well as improve their share worldwide. Some of the major players operating in the global textured vegetable protein industry analyzed in this report include Archer Daniels Midland Company, Cargill, Incorporated Inc., Du Pont de Nemours and Company, Foodchem International Corporation, Hung Yang Foods Co., Ltd., Sonic Biochem Extraction Pvt Ltd, Sudzucker Group(Beneo), Victoria Group A.D., and Wilmar International Limited.

KEY BENEFITS FOR STAKEHOLDERS
– This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global textured vegetable protein market from 2019 to 2027 to identify the prevailing market opportunities.
– The key countries in four major regions are mapped on the basis of their market share.
– Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
– In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
– Major countries in each region are mapped according to their revenue contribution to the global industry.
– Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
– The report includes the analysis of the regional as well as global market, key players, market segments, and growth strategies.

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KEY MARKET SEGMENTS
– By Product Type
o Textured Vegetable Protein
o Others

– By Form
o Flakes
o Granules
o Chunks
o Others

-By End User
o Business to Business
o Business to Consumers

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– By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? UK
? Italy
? Spain
? Rest of Europe
?
o Asia-Pacific
? China
? Japan
? India
? South Korea
? Rest of Asia-Pacific
o LAMEA
? Latin America
? Middle East
? Africa

What is the aim of the report?

The market report presents the estimated market size, by the end of the forecast period. Additionally, the historical and current market size is also examined in the report.

Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.

An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.

The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.

The various parameters accelerating the growth of Market are incorporated in the research report.

The report analyses growth rate, market size and valuation of the Market during the forecast period.

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What aspects regarding the regional analysis Market are included in this report?

Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.

The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.

The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

Based on what factors are the key market players assessed in this report?

The report offers detailed analysis of leading companies in the market across the globe.

It provides details of the major vendors involved in the Market including Key Players

A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and

the manufactured products is incorporated in the report.

The facts and figures about market competitors along with standpoints of leading market players are presented in the report.

The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

The report offers the present scenario and future growth prospects Market in various geographical regions.

The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.

The SWOT analysis is conducted along with Porter’s Five Force analysis.

The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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