Global Textured Soy Protein Market Growth Forecast 2024 - 2033

The textured soy protein market has witnessed a significant surge, soaring from $2.8 billion in 2023 to $3.1 billion in 2024, with a robust compound annual growth rate (CAGR) of 10.6%. This expansion is primarily attributed to heightened health consciousness, the escalating demand for plant-based proteins, the expanding market of vegetarian and vegan diets, the cost-effectiveness in comparison to animal proteins, the growing recognition of soy protein's nutritional advantages, and its widening applications in the food and beverage sector. Looking forward to 2028, the market is poised for continued rapid growth, projected to reach $4.64 billion at the same CAGR of 10.6%. Anticipated drivers include the proliferation of meat alternatives and plant-based diets, a heightened focus on sustainable and ethical sourcing practices, consumer preferences leaning towards clean label and natural ingredients, an increased demand for sports nutrition and protein supplements, and expanding market reach in emerging economies. Major trends expected in the forecast period encompass technological advancements in soy protein processing, innovations in product formulations and texture enhancement, blending with other plant proteins, fortification, and nutritional enrichment, along with the ongoing discourse surrounding soy protein isolate versus concentrate.