Hydrolyzed Vegetable Protein Market Research Report Information By Form (Dry Powder, Liquid, and Paste), By Application (Food & Beverages, Personal Care Products, and Others), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World) – Market Forecast Till 2032

Global Hydrolyzed Vegetable Protein Market Overview

Hydrolyzed Vegetable Protein Market Size was valued at USD 1.2 Billion in 2022. The Hydrolyzed Vegetable Protein market industry is projected to grow from USD 1.3 Billion in 2023 to USD 2.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2023 - 2032). The expanding popularity of plant-based proteins and the need for processed and convenient foods with meat alternatives are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hydrolyzed Vegetable Protein Market Trends

• Increasing demand for processed & convenience foods and meat analogs is driving the market growth

Growing demand for processed and convenient foods as well as meat substitutes is anticipated to boost market growth over the forecast period as vegetarian and vegan diets gain popularity and consumers become more aware of the health benefits of plant-based proteins. Along with its powerful cleansing properties, hydrolyzed vegetable protein (HVP) also contains mineral salts and riboflavin, which is helping the market grow.

HVP has become well-known in the food industry due to its frequent use as a less expensive alternative to other protein sources. It is often used as a flavour enhancer and food additive in processed foods such soups, sauces, and snack foods. It is widely used as a replacement for meat-based ingredients in vegetarian and vegan foods due to its ability to provide umami flavour. The hydrolysis process used to generate HVP may produce bitter aromas and aftertaste because it releases free amino acids and peptides, which have a bitter flavour. To minimise the bitterness, certain producers may go through additional processing steps to get rid of or mask the bitter flavour.

HVP is used as a source of protein in several dietary supplements and protein powders. The rising use of protein hydrolysate products by athletes is likely to support market expansion over the forecast period. Protein hydrolysates, notably HVP, are being used more commonly in sports nutrition products because of their ability to provide a high-quality protein source that is easily digestible and absorbed by the body. HVP is a popular plant-based protein supplement for athletes and sports enthusiasts who follow vegetarian or vegan diets since it can help with muscle growth and recovery.

The use of hydrolysate vegetable protein in infant formula is projected to positively impact market growth since it enhances amino acid absorption and provides the maximum nutritional value of protein. When amino acids are hydrolyzed, they shrink in size, making them simpler for infants to digest and absorb. Because of this, developed countries including the U.S., Canada, Germany, and the U.K. have seen a significant increase in demand for hydrolysate protein for baby nutrition. As more parents pick infant formula to meet their newborns' nutritional needs, the market is expected to grow over the course of the projected period. The market is expanding as a result of rising HVP consumption, changing lifestyles, and increased demand for convenience foods. As a result, it is projected that growing consumer desire for food products with clean labels and natural ingredients that are high in protein will further fuel market growth.

Thus, driving the Hydrolyzed Vegetable Protein market revenue.

Hydrolyzed Vegetable Protein Market Segment Insights

Hydrolyzed Vegetable Protein Form Insights

The Hydrolyzed Vegetable Protein Market segmentation, based on form, includes dry powder, liquid, and paste. Dry powder segment accounted for the largest revenue share in 2022. This is due to the use of dry powder form in an increasing number of food and beverage products and services.

Hydrolyzed Vegetable Protein Application Insights

The Hydrolyzed Vegetable Protein Market segmentation, based on application, includes food & beverages, personal care products, and others. Food & beverages segment dominated the Hydrolyzed Vegetable Protein Market in 2022. This occurs as a result of the increased use of HVP in processed food items. HVP is a functional component that is often used in the food industry due to its ability to enhance flavour and texture as well as its accessibility and ease of use. HVP is often used as an emulsifier, flavour enhancer, and texture altering ingredient in processed foods. As the demand for processed foods rises due to convenience, increased shelf life, and shifting consumer lifestyles, there will likely be a greater need for HVP as an ingredient in these products.

Figure 1: Hydrolyzed Vegetable Protein Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hydrolyzed Vegetable Protein Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Hydrolyzed Vegetable Protein Market dominated this market in 2022 (45.80%). This is because there is a sizable demand for HVP as a functional component and flavour enhancer in the well-established and substantial food and beverage industry. Additionally, the region's rising demand for processed and convenience foods has contributed to the market's expansion. The region also has a strong healthcare sector that uses HVP in medicinal nutrition products. Further, the U.S. Hydrolyzed Vegetable Protein market held the largest market share, and the Canada Hydrolyzed Vegetable Protein market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: HYDROLYZED VEGETABLE PROTEIN MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Hydrolyzed Vegetable Protein market accounted for the healthy market share in 2022. This is due to a shift in the consumption habits of customers in the European region towards fast food items with rich nutritional profiles and health advantages, as well as a rise in veganism among consumers. Companies in the European region are aiming for consumers with modified technologies by creating novel products with organoleptic features similar to real meat to have meat alternatives, therefore favouring the hydrolyzed vegetable protein market. Further, the German Hydrolyzed Vegetable Protein market held the largest market share, and the U.K Hydrolyzed Vegetable Protein market was the fastest growing market in the European region

The Asia Pacific Hydrolyzed Vegetable Protein market is expected to register significant growth from 2023 to 2032. This is due to the expanding desire for organic, plant-based dietary ingredients as well as growing knowledge of the advantages of protein in terms of health. The region also produces the most plant-based protein sources, including soybean and wheat, which contributes to the market's expansion. Moreover, China’s Hydrolyzed Vegetable Protein market held the largest market share, and the Indian Hydrolyzed Vegetable Protein market was the fastest growing market in the Asia-Pacific region.

Hydrolyzed Vegetable Protein Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Hydrolyzed Vegetable Protein market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Hydrolyzed Vegetable Protein industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Hydrolyzed Vegetable Protein industry to benefit clients and increase the market sector. In recent years, the Hydrolyzed Vegetable Protein industry has offered some of the most significant advantages to medicine. Major players in the Hydrolyzed Vegetable Protein market, including Ajinomoto Co,. Inc., Tate & Lyle PLC, Griffith Foods Inc., Dien, Incorporated, Titan Biotech Limited, Chaitanya Biologicals Private Limited, and New Alliance Dye Chem Pvt. Ltd., are attempting to increase market demand by investing in research and development operations.

The food, beverage, and pharmaceutical industries can get functional and nutritional solutions from Kerry Group plc (Kerry Group). In addition to other nutritional and functional elements, its range also comprises flavours, lipids, enzymes, fermented ingredients, protein fractions, bioactive compounds, probiotics, and metabolites. Additionally, the business sells a variety of food items, such as chilled meals, dairy flavour products, texturants, taste-modifiers, natural extracts, meat, cereals, and sweet and savoury goods. The Fridge Raiders, Wall's, Mattessons, Dairygold, LowLow, Galtee, Charleville, Strings and Things, Naked Glory, Rollover, Denny, and Richmond brands are used by Kerry Group to market its goods. The company offers food goods through a variety of retailers, convenience stores, and e-commerce channels in a few markets while selling ingredients and nutritional products throughout Europe, the Middle East, Africa, the Americas, and Asia-Pacific. Ireland's Tralee is home to the Kerry Group's headquarters. Kerry Group announced in February 2020 that it has acquired Pevesa Biotech, a Spanish firm that specialises in organic and allergy-free plant protein components for daily, newborn, and therapeutic nutrition.

Food, bioscience fine chemicals, medicines, and health products are the main areas of interest for Ajinomoto Co Inc (Ajinomoto), a company that produces food. The company conducts research, develops, and manufactures sauces and spices and offers fast-food items such cup soup, coffee vending machines, office supplies, bakery goods, processed foods, edible oils, amino acids, and animal nutrition. Additionally, Ajinomoto offers speciality chemicals, functional materials, and biopharma services. Under the brand names AJI-NO-MOTO, HON-DASHI, amino VITAL, Cook Do, Knorr, Blendy, Birdy, Masako, AjiPro, and Glyna, the corporation sells its goods. Its goods are used in the restaurant and foodservice sectors. The corporation has activities in the Americas, Europe, Africa, and Asia-Pacific. The headquarters of Ajinomoto are in Chuo-ku, Tokyo, Japan.

Key Companies in the Hydrolyzed Vegetable Protein market include

• Ajinomoto Co,. Inc.


• Tate & Lyle PLC


• Griffith Foods Inc.


• Dien, Incorporated


• Titan Biotech Limited


• Chaitanya Biologicals Private Limited


• New Alliance Dye Chem Pvt. Ltd.

Hydrolyzed Vegetable Protein Industry Developments

January 2023: A product with plant-based protein has been released, according to Surthrival. Due to the product's foraging from the wild, the manufacturer claimed it to be the first of its kind.

Hydrolyzed Vegetable Protein Market Segmentation

Hydrolyzed Vegetable Protein Form Outlook

• Dry Powder


• Liquid


• Paste

Hydrolyzed Vegetable Protein Application Outlook

• Food & Beverages


• Personal Care Products


• Others

Hydrolyzed Vegetable Protein Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

Report Scope:

Report Attribute/Metric	Details
Market Size 2022	USD 1.2 Billion
Market Size 2023	USD 1.3 Billion
Market Size 2032	USD 2.3 Billion
Compound Annual Growth Rate (CAGR)	7.50% (2023-2032)
Base Year	2022
Market Forecast Period	2023-2032
Historical Data	2018- 2022
Market Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Form, Application, and Region
Geographies Covered	North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered	The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled	Ajinomoto Co,. Inc., Tate & Lyle PLC, Griffith Foods Inc., Dien, Incorporated, Titan Biotech Limited, Chaitanya Biologicals Private Limited, and New Alliance Dye Chem Pvt. Ltd.
Key Market Opportunities	The popularity of ready-to-eat and processed foods
Key Market Dynamics	The increasing demand for processed & convenience foods and meat analogs and rising awareness about the health benefits of plant-based proteins

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