The global hydrolyzed vegetable protein market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for protein-based diet.
Hydrolyzed vegetable protein (HVP) is utilized for a long time to give meat-like texture to food items. The hydrolysis of protein prompts high level of glutamic acid. Acid or chemical hydrolysed vegetable protein are two types of (HVP). The former type uses hydrochloric acid at high temperature during the manufacturing process. This process leads to the formation of a potential cancer-causing compound, which reduces the amount of HVP in process flavouring. However, manufacturers with innovative manufacturing process can remove cancer causing substance effectively.
The two types of HVP have distinguished properties. The acidic HVP has a hazier shading and enhanced meaty flavor. On the other hand, the chemical HVP is lighter tone with a less meaty flavour. The issue of carcinogenic substance formation during the hydrolysis method, has encouraged Europe-based manufacturers are using yeast extract.
Market Trends, Drivers, Restraints, and Opportunities
- Rising consumer awareness regarding plant based nutritious protein is anticipated to drive the market growth.
- Increased adoption of hydrolyzed proteins by food manufacturers to enhance taste of food items such as soup and pasta is estimated to upheld the growth in the projected timeline.
- The presence of monosodium glutamate in hydrolyzed vegetable protein can induce chest pain and burning sensation on face. Such side effects can restrict the development of the market.
- Stringent government regulations on food quality can hamper the market growth.
- Growing demand for processed food products among consumers can create lucrative opportunity during the forecast period.
Scope of the Report
The report on the global hydrolyzed vegetable protein market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Report Title | Hydrolyzed Vegetable Protein Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Forms (Dry Powder, Liquid, and Paste), Application (Food and Beverages [Snack Foods, Bakery, Soups, Sauces, Dressings, Beverages, Meat & Meat Products, and Others], Personal Care Products and Others) |
| Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
| Key Players Covered in the Report | Tate & Lyle PLC; AAjinomoto Co,. Inc.; Griffith Foods Inc.; Titan Biotech Limited; and Dien, Incorporated |
Hydrolyzed Vegetable Protein Market Segment Insights
Paste segment is expected to grow at a rapid pace
Based on forms, the market is divided into dry powder, liquid, and paste. The paste segment is expected to grow at a rapid pace during the forecast period due to easy transportation and can be utilized in other food products.
Food & beverages segment is projected to expand at a considerable CAGR
On the basis of application, the market is segregated into food and beverage, personal care products and others. The food & beverages segment is further segmented into snack foods, bakery, soups, sauces, dressings, beverages, meat & meat products, and others. The afore-mentioned segment is projected to expand at a considerable CAGR during the forecast period due to increasing consumption of processed food products.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the hydrolyzed vegetable protein market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period due to rising demand for processed food products in emerging countries such as China and India. Growing per capita income and population of these countries is further expected to spur the market growth in Asia Pacific.
Segments
Segments Covered in the Report
The hydrolyzed vegetable protein market has been segmented on the basis of
Forms
Applications
- Food and Beverage
- Snack Foods
- Bakery
- Soups
- Sauces
- Dressings
- Beverages
- Meat & Meat Products
- Others
- Personal Care Products
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Tate & Lyle PLC
- AAjinomoto Co,. Inc.
- Griffith Foods Inc.
- Titan Biotech Limited
- Dien, Incorporated
Competitive Landscape
Key players competing in the hydrolyzed vegetable protein market are Tate & Lyle PLC; AAjinomoto Co,. Inc.; Griffith Foods Inc.; Titan Biotech Limited; and Dien, Incorporated.
Major players are focusing on development of low sodium hydrolysed food while some of them are engaging in production of hydrolysed wheat protein.
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