According to the research report titled ‘Global Textured Vegetable Protein Market Size study, by Form (Dry, Wet), By Type (Slices, Flakes, Chunks, Granules), By Source (Soy, Pea, Wheat) By Application ( Meat alternatives, Cereals & snacks, Other applications ) and Regional Forecasts 2020-2027’, available with Market Study Report, global textured vegetables protein market was appraised at USD 1 billion in the year 2019 and is expected to register 6.2% CAGR through 2027.
 

Growing demand for textured soy proteins, especially among adult population, is one of the major factors driving global textured vegetables protein market. Shifting preferences towards consuming healthy nutritious diet have also impelled the demand for textured vegetables proteins.
 

For those uninitiated, textured vegetable protein is derived from various vegetable ingredients which is refined and then utilized as a meat-alternative since it has similar properties to that of animal protein. It is basically a defatted and condensed form of plant proteins. These proteins help in improving the texture as well as the chewiness of the food items, thereby favoring worldwide textured vegetable protein market outlook.
 

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In January 2020 for instance, Roquette and Beyond Meat reportedly teamed up to extend the availability of pea proteins owing to highly competitive nature of European and North American markets. Similarly, Cargill Inc. had invested around USD 75 million in PURIS Foods in the year 2019 in order to increase the production of fibers, starches, and pea proteins.
 

Thus, innovative product launches and strategic collaborations conducted by leading companies is also adding traction to the overall market outlook. However, concerns over possible allergy events associated with soy proteins may act as a restraining factor to the growth of global textured vegetables protein market.
 

Considering the geographical landscape, North America is anticipated to accounted for majority market share in the upcoming years, primarily driven by high concentration of leading companies.
 

On the other hand, Asia-Pacific textured vegetable protein industry is estimated to showcase a robust CAGR between 2020 and 2027. Strong production base of agriculture products coupled with consumer inclination towards textured vegetable proteins are positively impacting the business scenario in Asia-Pacific.
 

MGP Ingredients Inc., Vestkorn Milling AS, Puris Proteins LLC, Scoular, Wilmar International Limited, DuPont de Nemours Inc., Roquette Frères, CHS Inc., Cargill Inc., and Archer Daniels Midland Company are the major companies operating in worldwide textured vegetable protein market.