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Revenue generated from the global texturized vegetable protein market is estimated to be valued at ~US$ 1.1 Bn in 2019, which is projected to grow at a CAGR of ~6%, to reach US$ 2 Bn by 2029.
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Texturized Vegetable Protein Market Trends Outlook, Strategies, Manufacturers, Countries, Type and Application, Global Forecasts To 2029 The latest market report published by Transparency Market Research on the texturized vegetable protein market includes global industry analysis and opportunity assessment for 2019-2029. Revenue generated from the global texturized vegetable protein market is estimated to be valued at ~US$ 1.1 Bn in 2019, which is projected to grow at a CAGR of ~6%, to reach US$ 2 Bn by 2029. Demand for Vegan and High-protein Ingredients to Drive Adoption of Texturized Vegetable Protein Among consumers, there is an increase in health consciousness, consumption of guilt-free food, and orientation toward environment protection. Vegan foods and flexitarian diets have gained considerable traction in the market. Consumers are increasingly opting for plant-based products, such as texturized vegetable protein, seitan, and others. Texturized vegetable protein satiate consumer demand for gluten-free, vegan, and high-protein food products. Increasing awareness among consumers about the benefits of plant-based diets and rising demand for food & beverage products with high nutritional benefits and sensory taste are fueling the demand for texturized vegetable protein products. Approximately 14% of Australians are making a concerted effort to avoid red meat. Around 34% to 39% of urban Thai and Indonesian population have reduced consumption of animal-based protein in the past two years. This is due
to the rising awareness of ethical issues linked to meat consumption and increasing focus on the detrimental health impacts of meat consumption. In response to this trend, manufacturers are launching new products with plant protein sources in the texturized vegetable protein market. For instance, DuPont expanded its plant-based protein product range with a new pea protein for beverages (TRUPRO) in October 2018. Request for Report Sample @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=75215 Increasing Healthcare Cost Boosts Market Growth The cost of healthcare has risen twice as fast as general inflation, primarily due to the extensive research and development activities carried out in the pharmaceutical industry. Increasing cost of healthcare has compelled people to opt for vegetarian products, as these plant-based products provide health benefits, such as weight management, lower blood sugar levels, protect against certain cancers, lower risk of heart attacks, and reduce pain from arthritis, among others. Spurred by this factor, the texturized vegetable protein market will witness impressive growth. Request for Covid-19 Impact Analysis @ https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=75215 According to the European Federation of Pharmaceutical Industries and Association (EFPIA), Pharmaceutical Research and Manufacturers of America (PhRMA) and Japan Pharmaceutical Manufacturers Association (JPMA), R&D expenditure in the pharmaceutical industry in Europe increased from US$ 37,030.6 Mn in 2011 to US$ 38,055.6 Mn in 2012, while in the U.S., it rose from US$ 36,374 Mn in 2011 to US$ 36,810 MN in the same year. The U.S. accounted for the highest healthcare spending in the world, which is 17.9% of its GDP; about US$ 8,362 per person. Similarly, spending on healthcare is increasing year-on-year in other developed countries, such as France, Germany, and Japan. Apart from developed countries, healthcare spending is also rising in developing countries such as India and China. Increasing healthcare spending in turn will drive the texturized vegetable protein market. Explore Transparency Market Research’S Award-Winning Coverage of the Global Food and Beverages Industry @ https://www.globenewswire.com/news-release/2019/09/09/1912605/0/en/Increasing-Conscio usness-about-Ingredients-used-in-Food-Products-Created-Growth-Opportunity-in-Prebioti c-Ingredients-Market-Says-TMR.html
About Us Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact Transparency Market Research, 90 State Street, Suite 700, Albany, NY 12207 Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: https://www.transparencymarketresearch.com
