Growing demand for plant-based meat substitutes like textured vegetable protein

From GlobeNewswire: 2025-03-19 04:03:00

Global textured vegetable protein market is on the rise due to demand for plant-based meat products. TVP is popular in vegetarian and vegan diets for its versatility and flavor absorption. Market expected to reach $2.93 billion by 2031 with a 6.1% CAGR from 2024-2031. Government initiatives and rise in veganism also contribute to market growth.

Flexitarianism is increasing, driving demand for plant-based meat substitutes like TVP. Government initiatives worldwide promote plant-based meat consumption for health and environmental benefits. Rise in veganism due to health concerns and animal welfare also boosts demand for meat substitute ingredients.

Europe led the textured vegetable protein market in 2024, followed by North America and Asia Pacific. Asia Pacific is expected to have the highest CAGR in the forecast period. TVP is made from defatted soy flour and is a popular meat substitute due to its high protein content and environmental friendliness.

Key players in the textured vegetable protein market include Archer-Daniels-Midland Co, Cargill Inc, Ingredion Inc, and more. Market segmentation includes source, product type, category, application, and region. TVP is cost-effective, high in protein, and environmentally friendly, making it a popular choice for consumers seeking alternative protein sources.



Read more at GlobeNewswire: Textured Vegetable Protein Market Size is to be Worth US$