The new report by Expert Market Research titled, ‘Global Hydrolysed Vegetable Protein Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global hydrolysed vegetable protein market, assessing the market based on its segments like source, form, application and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Forecast CAGR (2021-2026): 4.3%
The market for hydrolysed vegetable protein has seen substantial growth due to factors such as rising health awareness and the increasing demand for clean label food products. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the hydrolysed vegetable protein market. The general public has become aware of the health benefits of adding protein to their diet in recent years and is therefore heading towards food with a clean label. As it has 8 essential amino acids, which assist in growth and regeneration, it increases the nutritional value. In addition, growing disposable income has provided individuals the power to purchase packaged food goods containing HVP to enhance the taste as well as shun the unpleasant smell of other ingredients. The development of the hydrolysed vegetable protein industry is further motivated by this. Growing demand for high protein food products as well as new product launches are expected to favour the growth of the industry over the forecast period. The food and beverage sector accounts for an important share in the hydrolysed vegetable protein industry on the basis of type. This can be due to the presence in the hydrolysed vegetable protein of essential amino acids and various other nutrients, which makes it indispensable in a balanced diet. In the meantime, the rising use of hydrolysed vegetable protein in various applications, including animal feed and infant nutrition, and the increasing investment in research and development activities are expected to further support the growth of the industry.
Industry Definition and Major Segments
Flavor enhancers used in packaged foods such as soups, gravies, stews, and certain meat items such as hot dogs are referred to as hydrolysed vegetable proteins. Like potato chips and pretzels, it is also found in some dips and snacks. It is formed by boiling foods in hydrochloric acid such as soy, maize, or wheat and then neutralizing the solution with sodium hydroxide. In plants, the acid breaks down the protein into its amino acid components.
Based on the source, the industry is divided into:
Based on the form, the industry is divided into:
Based on the application, the industry is divided into:
Food and Beverages
Personal Care Products
The regional markets for hydrolysed vegetable protein include:
Middle East and Africa
Geographically, Due to the rising demand for tastier food products and higher nutritional value, Asia Pacific is expected to see robust growth over the forecast period. In addition, developments in the food processing sector, rapid urbanization and an increase in the general population’s purchasing power are expected to contribute significantly to the growth of industry across the region in the coming years. The major factors driving the market are the rising movement towards vegan diets, and the inclusion of plant proteins in processed foods. The abundant amount of nutrients contained in plant proteins due to allergies caused by animal proteins has changed consumer preference towards plant proteins.
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Consumer preferences for plant protein are also influenced by developments in research, with a shifting understanding of the protection of products based on animals combined with the production of plant protein that is more environmentally-friendly than animal protein. Moreover, plant proteins are experiencing their time in the limelight with the rising health and wellness trend, with brands introducing plant-based protein products in retail and food service chains. Consumers reciprocate with appeal and participation, including meat-eaters and dairy enthusiasts, snapping up new launches such as meat-like plant protein burgers, plant protein lattes, and protein meal kits focused on plants.
Key Market Players
The major players in the market are Ajinomoto Co.Inc., Kerry Inc., Titan Biotech Limited, Cargill, Incorporated, Archer Daniels Midland Company, Roquette Frères, Dien Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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