Hydrolyzed Vegetable Protein Market Anticipated to Reach $6.14 Billion by 2030

Roshani

posted on 3 months ago — updated on 1 second ago

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Hydrolyzed Vegetable Protein Market by Source (Soy, Wheat, Pea, Corn, Rice), Form (solid, liquid), Process (Acid & Alkaline, Enzymatic), Application (Food and Beverages, Infant Nutrition, Nutritional Supplement) - Global Forecast to 2030

Market for Hydrolyzed Vegetable Protein Set to Achieve $6.14 Billion Value by 2030

Meticulous Research®, a leading global market research firm, has recently released a comprehensive report titled “Hydrolyzed Vegetable Protein Market by Source (Soy, Wheat, Pea, Corn, Rice), Form (Solid, Liquid), Process (Acid & Alkaline, Enzymatic), Application (Food and Beverages, Infant Nutrition, Nutritional Supplement) — Global Forecast to 2030.” This in-depth study highlights substantial growth opportunities in the hydrolyzed vegetable protein market, forecasting a strong compound annual growth rate (CAGR) of 9.9% from 2024 to 2030, with the market projected to reach $6.14 billion by 2030.

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Several key factors are fueling the growth of this market. The increasing demand for processed and convenience foods, along with the rising popularity of vegetarian and vegan diets, are major contributors. Additionally, heightened awareness of the health benefits of plant-based proteins and broader health and wellness trends are driving market expansion. The growing intolerance for animal proteins and emerging economic opportunities in various regions are also expected to create significant growth prospects for market players. However, the market’s growth is somewhat constrained by the widespread availability and preference for protein isolates and concentrates, as well as fluctuations in raw material prices.

=# Leading Market Players

The hydrolyzed vegetable protein market is highly competitive, with several key players shaping its landscape. Notable companies include Kerry Group Plc (Ireland), Cargill, Incorporated (U.S.), Rouquette Frères (France), Ajinomoto Co., Inc. (Japan), Tate & Lyle PLC (U.K.), Foodchem Group (China), Titan Biotech Limited (India), Archer-Daniels-Midland Company (U.S.), Aipu Food Industry (China), and Axiom Foods Inc. (U.S.). These players are at the forefront of innovation and development, driving the market forward through extensive research, product development, and strategic partnerships.

=# Market Segmentation and Analysis

The study presents a detailed segmentation of the hydrolyzed vegetable protein market, offering valuable insights into various aspects such as source, form, process, application, and geography. Each segment is thoroughly analyzed to provide a comprehensive understanding of the market dynamics and potential growth opportunities.

**Source Segment:**

The market is segmented by source into soy, wheat, pea, corn, rice, and other sources. Among these, the soy segment is expected to dominate the market in 2024, accounting for the largest share. Soy’s cost-effectiveness, widespread availability, and the strong umami flavor it imparts make it a preferred choice among manufacturers, especially for enhancing the taste profile of various food products. However, the pea segment is anticipated to exhibit the highest CAGR during the forecast period, reflecting a growing preference for alternative protein sources.

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**Form Segment:**

The hydrolyzed vegetable protein market is also categorized based on form into solid and liquid. In 2024, the solid form is projected to hold the larger market share, driven by its wide application in various food products. However, the liquid segment is expected to register the highest CAGR during the forecast period. The appeal of liquid forms lies in their high shelf life, natural and fresh appearance, and versatility across a range of applications.

**Process Segment:**

Regarding the process, the market is divided into acid & alkaline and enzymatic processes. The acid & alkaline segment is expected to account for the larger share in 2024, owing to the advantages this process offers, such as enhanced digestibility, improved flavor, and allergen reduction. Moreover, it aligns well with the clean label appeal that consumers increasingly seek. Despite this, the enzymatic segment is forecasted to grow at the highest CAGR during the forecast period. The enzymatic process is valued for its ability to enhance functional properties, solubility, and nutritional value, making it an attractive option for food manufacturers.

**Application Segment:**

The application-based segmentation of the hydrolyzed vegetable protein market includes food & beverages, infant nutrition, nutritional supplements, and other applications. The food & beverages segment is expected to dominate the market in 2024, driven by the rising demand for plant-based products and the increased production of functional and convenience foods. Meanwhile, the nutritional supplements segment is poised for the highest CAGR during the forecast period, reflecting the growing consumer interest in health and wellness.

**Distribution Channel Segment:**

The distribution of hydrolyzed vegetable protein is segmented into offline and online channels. In 2024, offline channels are expected to account for the largest market share, driven by the broad availability of products in modern grocery stores, hypermarkets, and supermarkets, which offer an enhanced shopping experience. However, the online segment is anticipated to grow at the fastest pace, driven by the convenience, wider product selection, and competitive pricing available through e-commerce platforms.

=# Regional Insights

Geographically, the hydrolyzed vegetable protein market is segmented into several regions, with North America expected to hold the largest market share in 2024. The dominance of North America is attributed to the extensive use of hydrolyzed vegetable proteins in the region, driven by the high production of functional and convenient food & beverages, growing concerns over animal products and proteins, an increasing vegan population, and the strong presence of key manufacturers. However, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. Factors contributing to this growth include rising awareness of the health benefits of protein-rich diets, an increasing focus on nutrition, technological advancements in the food & beverages industry, the wide availability of raw materials, and a significant vegetarian population.

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Key questions answered in the report-

Which are the high-growth market segments in terms of source, form process, application, distribution channel, and country/region?
What is the historical market for hydrolyzed vegetable protein across the globe?
What are the market forecasts and estimates for the period of 2023 to 2030?
What are the major drivers, restraints, challenges, opportunities, and trends in the hydrolyzed vegetable protein market?
Who are the major players in the global market, and what are their market shares?
Who are the major players in various countries, and what are their market shares?
How is the competitive landscape?
What are the recent developments in the hydrolyzed vegetable protein market?
What are the different growth strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the hydrolyzed vegetable protein market, and how do they compete with other players?