Biotech Updates

Textured Vegetable Protein Market Forecasted to Exceed $1334.99 Million by 2031

August 14, 2024

A report published by InsightAce Analytic Pvt.Ltd forecasts a 5.40% growth of the textured vegetable protein (TVP) market from 2024 to 2031. The market is expected to reach a revenue of over $1,334.99 million by 2031.

Textured vegetable proteins (TVP) are derived from plant-based sources, such as soy, wheat, and peas. Recently, they are becoming more popular as versatile meat alternatives in various food products. As the demand for TVP increases, the market is expected to grow over the next few years.

Researchers produced a report about the growth of the textured vegetable protein market. The market was segmented based on various factors, such as product type, application, and region. The report provided a global market snapshot, prominent players, market trends, and challenges that must be addressed. The results highlighted that the increasing number of vegetarians or flexitarians and their adoption of plant-based diets boost the demand for textured vegetable protein. Their findings also showed that diversifying the product range of TVP formats enables producers to cater to the various needs of consumers.

For more information, read the report of InsightAce Analytic.


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