Hydrolyzed Vegetable Protein Market Size, Share and Global Trend By Source (Pea, Soy, Wheat, Corn, Rapeseed, Rice, Others), By Form (Liquid, Powder, Paste), By Application (Functional Beverages, Food Products), and Regional Forecast, 2024-2032

Hydrolyzed vegetable protein market is witnessing rapid growth due to rapidly rising processed food industry, where hydrolyzed vegetable proteins are used to create exotic flavors in popular processed food products such as instant noodles, imitation meat products, sauces, snacks, and others. Advance protein hydrolysis technology is a significant method for obtaining HPV.

Several key market players operating in the global hydrolyzed vegetable protein market are focusing on the development of new products by using unique or less used source materials, that has great nutritional value, such as pea. Ajinomoto, Kerry Group, Griffith Laboratories, and Givaudan are some of the significant market players of the global hydrolyzed vegetable protein market.

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Hydrolyzed vegetable protein, also known as HVP is created by boiling cereals or legumes, such as corn, pea, soy, and others in hydrochloric acid and further neutralized with sodium hydroxide. The obtained liquid after completion of the aforementioned process is amino acids that have been formed after the breakdown of vegetable proteins.

Rising consumer awareness towards the health benefits of consuming plant-based protein over dairy or meat protein is projected to drive the growth of hydrolyzed vegetable protein market. Furthermore, increased adoption of hydrolyzed vegetable protein by food product manufacturers to enhance the flavor of high-demand foods, such as pasta, soup, noodles, meat products, and others is anticipated to fuel the growth of the global hydrolyzed vegetable protein market.

Presence of monosodium glutamate (MSG) in HVPs may induce chest pain, burning sensation in neck or face, numbness, weakness, headache, and other health issues among individuals and hence it is a major restraining factor for the growth of the market.

Key Players Covered

Some of the key companies that are present in the global hydrolyzed vegetable protein market include Givaudan, Kerry Group Plc., Diana Group, Griffith Laboratories, Angel yeast, Ajinomoto Co., Inc., Tate & Lyle Plc., McRitz International Corporation, Unitechem Co., Ltd., Astron chemicals S.A., Brolite Products Co Inc., and Caremoli Group.

SEGMENTATION

By source, hydrolyzed vegetable protein market has been segmented into pea, soy, wheat, corn, rapeseed, rice, and others. Among these, soy segment is expected to dominate the global hydrolyzed vegetable protein market and grow at a lucrative CAGR during the forecast years, due to the high nutritional value associated with soy, coupled with a high average selling price of hydrolyzed soy protein as compared to other vegetable protein.

Among application, food products segment is projected to witness significant rise during the forecast period, due to higher consumer demands of processed food products such as ready meals, noodles, fish, meat, prepared soups, seasoning mixes, pasta, and others. Increasing application of hydrolyzed vegetable protein to enhance flavors in processed food will contribute significantly to the growth of the segment.

Regional Analysis

The Asia Pacific currently holds the major market share in the global hydrolyzed vegetable protein market and is expected to continue dominating the market during the forecast period. Rising demand for nutritional food & beverages in prominent Asian countries, such as China, India, South Korea, Japan, and Australia are expected to propel the growth of the market. Growing population in major Asian countries, along with growth in international trade and increased per capita income of the Asian population is further expected to boost the growth of the APAPC market. North America is projected to follow the Asia Pacific in the global hydrolyzed vegetable protein market, owing to the rising application of hydrolyzed vegetable protein in food & beverage and other prominent industries, such as cosmetics.

Key Industry Developments

• In 2013, Cargill Inc. launched a soluble hydrolyzed wheat protein to suit with various beverage ranges. The new product provides beverage manufacturers with an opportunity to produce clear protein drinks.


• In 2012, Innova, part of Griffith Laboratories, launched a novel low-sodium hydrolyzed vegetable protein which includes a line of Vegamine AT products. The product claims to enhance the flavor of food and can imitate poultry type flavors to beef type flavors.