Hydrolyzed vegetable protein (HVP) finds widespread application in the food industry as a flavor enhancer and nutritional additive. It is used to enhance the taste of various food products, including soups, sauces, seasonings, snacks, and processed meat. HVP provides a savory and umami flavor profile, enhancing the overall taste and palatability of food items. Additionally, HVP is valued for its protein content, making it an attractive ingredient for manufacturers looking to enhance the nutritional profile of their products. The versatile application of HVP across a range of food products contributes to its demand and growth in the hydrolyzed vegetable protein market.
According to Data Bridge Market Research, the Global Hydrolyzed Vegetable Protein Market was valued at USD 1258.18 million in 2021 and is expected to reach the value of USD 1873.12 million by 2029, at a CAGR of 5.10% during the forecast period of 2022 to 2029.
“The growing awareness of plant-based protein drives the market growth”
The growing awareness of plant-based protein acts as a significant driver for the global hydrolyzed vegetable protein market. As more individuals adopt vegetarian, vegan, and flexitarian lifestyles, there is a rising demand for plant-based protein sources to meet their dietary preferences and health goals. Hydrolyzed vegetable protein serves as an attractive plant-based protein alternative, offering a rich amino acid profile and versatile application possibilities in various food products. The increasing focus on health-conscious consumption, ethical considerations, and sustainability concerns contribute to the market's growth as consumers actively seek out protein-rich plant-based options like hydrolyzed vegetable protein.
What restraints the growth of the global hydrolyzed vegetable protein market?
“The presence of monosodium glutamate (MSG) in hydrolyzed vegetable protein”
The presence of monosodium glutamate (MSG) in hydrolyzed vegetable protein (HVP) acts as a restraint for the global market. MSG, a flavor enhancer, can cause adverse health effects in some individuals, such as headaches, allergic reactions, and adverse effects on the nervous system. These concerns surrounding MSG have led to increased scrutiny and regulatory measures regarding its use in food products, including HVP. As a result, consumers and manufacturers may seek alternative flavoring options, impacting the demand and market growth of hydrolyzed vegetable protein.
Segmentation: Global Hydrolyzed Vegetable Protein Market
The hydrolyzed vegetable protein market is segmented on the basis of source, form, and application.
- On the basis of source, the hydrolyzed vegetable protein market is segmented into pea, soy, wheat, corn, rapeseed, rice, and others.
- On the basis of form, the hydrolyzed vegetable protein market is segmented into dry powder, and liquid paste.
- On the basis of application, the hydrolyzed vegetable protein market is segmented into food products, functional beverages, personal care products, and others.
Regional Insights: Asia-Pacific dominates the global hydrolyzed vegetable protein market
Asia-Pacific emerges as the dominant region in the hydrolyzed vegetable protein market, primarily driven by the rapidly increasing demand for nutritional food and beverages in developing or emerging countries within the region. The rising population, along with changing lifestyles and dietary preferences, contributes to the surge in demand for convenient and healthy food options, propelling the growth of hydrolyzed vegetable protein market in Asia-Pacific.
Europe is poised for significant growth within the forecast period of 2022-2029. This growth can be attributed to the shifting consumer consumption patterns towards convenience food products that offer rich nutrition and health benefits. Additionally, the rising trend of veganism among consumers in Europe further drives the demand for plant-based protein sources, including hydrolyzed vegetable protein. The region's focus on sustainability and healthy eating habits acts as a catalyst for the expansion of the hydrolyzed vegetable protein market in Europe.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-hydrolyzed-vegetable-protein-market
The Prominent Key Players Operating in the Global Hydrolyzed Vegetable Protein Market Include:
- Ajinomoto Co., Inc. (U.S.)
- Tate & Lyle (U.K.)
- Michimoto Foods Co., Ltd (Japan)
- Griffith Foods (U.S.)
- Symrise (France)
- Givaudan (Switzerland)
- SUBONEYO Chemicals Pharmaceuticals P Limited. (India)
- Vinayak Corporation (India)
- UNITECH CHEMICALS (India)
- Caremoli, Dien Inc. (Italy)
- Jones-Hamilton Co. (U.S.)
- DSM (Netherlands)
- Kerry Group plc. (Ireland)
Above are the key players covered in the report, to know about more and exhaustive list of global hydrolyzed vegetable protein market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Hydrolyzed Vegetable Protein Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
