Textured Vegetable Protein Market Size
Market Outlook:
Textured Vegetable Protein Market exceeded USD 1.47 Billion in 2023 and is predicted to cross USD 2.36 Billion by end of the year 2032, witnessing more than 5.4% CAGR between 2024 and 2032.
Base Year Value (2023)
USD 1.47 Billion
19-23
x.x %
24-32
x.x %
CAGR (2024-2032)
5.4%
19-23
x.x %
24-32
x.x %
Forecast Year Value (2032)
USD 2.36 Billion
19-23
x.x %
24-32
x.x %
Historical Data Period
2019-2023
Largest Region
North America
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:Increasing demand for plant-based protein alternatives due to changing consumer preferences and rising awareness about health benefits.
Growing popularity of vegetarian and vegan diets worldwide driving the demand for Textured Vegetable Protein (TVP) products.
Expansion of food industry and technological advancements in food processing methods facilitating the production of various TVP products.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Product Type, Form, Applications |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | ADM , DuPont, Kerry Group, Ingredion, Bunge, Cargill, Wilmar International, Archer Daniels Midland Company, Louis Dreyfus Company, Bunge Limited, Olam International Limited, Cofco International Limited, Wilmar International Limited, ADM Alliance, |
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High production costs and price volatility of raw materials impacting the profit margins of TVP manufacturers.
Limited awareness and availability of TVP products in developing regions hindering market growth.
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