The table compares texturized vegetable protein adoption rates globally, highlighting a shift toward clean-label ingredients and e-commerce growth

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 23, 2023 /EINPresswire.com/ -- Through 2033, sales of Demand and Trend Analysis of Texturized Vegetable Protein in Korea are expected to soar at a 6.2% CAGR. It is anticipated that Korea's demand for texturized vegetable protein will rise gradually and reach US$ 20.4 million in 2023. According to sales forecasts, the Korean market for texturized vegetable protein might be worth US$ 37.4 million by 2033.

Investing in biotechnology research aimed at enhancing the sustainability and nutritional value of texturized vegetable protein offers a competitive edge in meeting the high sustainability expectations of the industry.

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Focusing on creating TVP-based goods that align with modern kitchen appliances and cater to tech-savvy consumers by ensuring compatibility and ease of meal preparation.

Diversifying income sources and expanding market presence by supplying TVP ingredients to Korean food producers and processors, tapping into a growing market segment.

Investing in R&D to develop eco-friendly packaging solutions for TVP products, aligning with Korea's environmental goals and reducing waste.

Creating specialized TVP-based functional foods targeting specific health concerns or dietary needs, such as digestive health, immunity, or weight management.

Exploring franchising strategies for fast-food or quick-service restaurant concepts cantered around TVP to capitalize on the increasing demand for plant-based fast-food options.

Designing sustainable and visually appealing packaging for TVP goods to enhance brand perception and attract environmentally conscious consumers.

Key Takeaways Study:

The market value is expected to reach US$ 20.4 million, and it is forecasted to hit US$ 37.4 million by 2033.

Demand for Texturized Vegetable Protein in Western Europe’s Valuation is US$ 585 million by the year 2023 at CAGR of 4.3% during 2023 to 2033.

Opportunity Assessment in the Global Texturized Vegetable Protein Market is valued at US$ 1,354 million by the year 2023 at CAGR of 2.2%

Leading Product Type for Texturized Vegetable Protein in Korea. Korea's value share is 68.1%

Leading Form for Texturized Vegetable Protein in Korea. Korea's value share at 9%

Industry Analysis of Texturized Vegetable Protein in Korea. Korea is valued at US$ 20.4 million at a CAGR of 2%

“A substantial surge in the demand for texturized vegetable protein in Korea, attributed to evolving health-conscious consumer preferences,” - Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape:

The texturized vegetable protein industry in Korea is highly competitive, driven by both domestic and foreign players vying for market dominance amid increasing demand for plant-based protein. Businesses forge alliances with chefs and influencers, creating unique dishes to attract customers seeking authentic gourmet experiences, intensifying competition and consumer attention.

Techniques for Major Players to Seize Possible Development Prospects:

Form partnerships with non-food businesses, including pet nutrition or cosmetics, to expand the applications of texturized vegetable protein and into new markets.

For effective marketing, tailor texturized vegetable protein goods to Korean tastes and collaborate with regional influencers.

Purchase raw materials from suppliers who practise environmental responsibility, stressing the advantages of texturized vegetable protein manufacturing for the environment.

Engage in pressing the government to advance laws and programmes that support the production of plant-based and sustainable foods, thereby fostering a favourable economic environment.

Work together with fitness influencers and health companies to market texturized vegetable protein as a product that is health-focused and to develop personalised product lines that cater to the needs of certain customers.

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Key Companies Profiled:

UNLIMEAT
Pulmuone
CJ CheilJedang
Ottogi
Nongshim
Dongwon F&B
Samjin Globalnet
Harvest Corporation
Harim
Daesang
Cheil

Key Segments:

By Product Type:

Soy Protein
Wheat Protein
Pea Protein
Rice Protein

By Nature:

Organic
Conventional

By Form:

Chunks
Slice
Flakes
Granules

By End-user:

Household
Commercial Industry
Industry
Food Industry
Bakery
Snacks
Ready Meals
Sports Nutrition
Clinical Nutrition
Baby Food
Meat Analogues
Others
Animal Feed

By Distribution Channel:

Direct
Indirect
Store Based
Hypermarket
Stores
Traditional Stores
Online Retail

Key Cities/Provinces:

South Gyeongsang
North Jeolla
South Jeolla
Jeju

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.   

Explore FMI’s related ongoing Coverage in the Food and Beverage Domain:

Protein Ingredients Market: value is expected to reach a valuation of US$ 47.4 Billion by 2032, rising at a CAGR of 5.6% for 2022 to 2032.

Texturized Vegetable Protein Market size: The number of flexitarians is rapidly increasing, thus propelling the demand for texturized vegetable protein products.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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FMI
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