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The global hydrolyzed vegetable protein market size is projected to reach a value of USD 784.81 million, growing at a CAGR of 5.8%. Hydrolyzed vegetable protein is a natural and organic product that is rich in amino acids, minerals, and micronutrients and is widely used in small amounts to add to or flavor enhancer of many processed foods, such as soups, snack foods veggie burgers, soy protein seasonings, hydrolyzed plant proteins and others. It is considered a natural additive. Increasing market demand for plant protein-based diets is notably driving the market growth. As people become more health-conscious and aware of the importance of protein in their diets, they are looking for more ways to incorporate it into their meals. HVP is a convenient and versatile ingredient that can be used to add plant proteins to a wide range of food products, from meat and dairy alternatives to soups, sauces, and gravies. In addition, HVP is growing in popularity as an alternative to meat. Therefore, growing consumer demand for a protein-rich diet and the increasing popularity of meat alternatives are the key drivers of the market growth analysis during the forecast period.
The market shows an Accelerated CAGR during the forecast period.
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The market is segmented based on diverse applications and nutritional benefits across various sectors. Processed and convenience foods utilize hydrolyzed vegetable proteins for enhancing flavor profiles without the drawbacks of traditional meat analogs, addressing concerns like cholesterol and allergens. In sports medicine and bodybuilding, these proteins are valued for their high nutrient value and efficient amino acid absorption, supporting muscle recovery and performance. Mineral salts and riboflavin found in hydrolyzed vegetable proteins contribute to overall health benefits, appealing to health-conscious consumers. Derived from sources such as corn, peas, and soy crops, these proteins offer low-calorie options while maintaining robust flavor profiles, overcoming challenges like bitter taste often associated with other protein sources. The market continues to expand as manufacturers innovate with cleaner labeling and sustainable sourcing practices to meet evolving consumer preferences and nutritional demands.
Increasing adoption of organic and natural ingredients is an emerging market trend and analysis shaping the market growth. The demand for natural and organic products is increasing because of health and safety concerns and increasing awareness about the ingredients. Consumers prefer natural and organic ingredient-based personal care products. Skin irritation, skin allergies, hair loss, acne, dark spots, and other issues have led to an increase in demand for natural and organic beauty products free from harmful synthetic ingredients. This is likely to encourage the demand for natural products in the future. The demand for organic and natural products has rapidly grown in the personal care and cosmeceutical sector because they act as natural cures for various skin problems.
Moreover, products are widely used as flavoring and fragrance ingredients for various purposes. Hence, the demand for natural ingredients with therapeutic properties is expected to increase the consumption of products in the future. Consumers are developing a preference for natural and green products, which is expected to increase consumption during the forecast years.
Increasing demand for healthy and nutritional food products is a significant challenge hindering market growth. Healthy and nutritional products are not frozen and are preservative-free. There is a high demand for such products across the globe, owing to the rising awareness among consumers about the health benefits of these products. There has been a global shift in demand for healthy and nutritional products as opposed to frozen foods. Eating fresh produce provides an individual with enhanced energy, reduces the effects of ageing, and helps in reducing weight.
Additionally, the promotion of the consumption of fresh fruits and vegetables by the World Health Organization (WHO) and a rise in the number of supermarkets have negatively impacted the market research and growth of the market during the projection period.
The direct distribution channel would involve the manufacturer selling the products directly to the end consumer or to a food service provider, such as a restaurant or catering company, without the use of intermediaries such as distributors or wholesalers. This can be done through online sales, mail orders, or through a company-owned retail store. It can also be done by having a sales force that goes to different food service providers and sells the product to them. Many manufacturers and suppliers of protein products adopted a direct-to-customer model. Manufacturers adopt various D2C channels, such as online retailing and specialty stores. Therefore, the direct channel of distribution allows manufacturers to gain valuable insights into consumer behavior and a more tailored approach to marketing and differentiation. Hence it is contributing to the market growth and trends of the market during the projection period.
The market share growth by the dry powder segment will be significant during the forecast years. It is expected to maintain its dominance during the forecast period owing to the growing adoption of powder in various processed foods.
The dry powder segment was the largest and was valued at USD 1.17 billion in 2018.
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Additionally, powder is manufactured depending on various factors, such as the natural nutrient content in vegetables, their shelf life, accurate composition, and precise pH value. They are widely used in food products that have an umami flavor profile, such as meaty flavor seasonings, oriental cuisine, and also as seasoning in snacks. Moreover, the increasing adoption of organic and natural ingredients in processed foods, the increasing use of hydrolyzed plant proteins in cosmetic products, and the changing lifestyles of individuals are expected to increase the need for dry powder form which, in turn, is anticipated to propel the growth of the dry powder segment of the market during the forecast years.
Europe is estimated to contribute 36% to the growth of the global market size during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the projection period. The leading revenue-contributing countries in the market in Europe are the UK, France, Italy, and Germany. The European economic crisis has slowed the market by increasing taxes and manufacturing costs. This has regulated the pace of growth of the market in Europe. Fat replacers, artificial sweeteners, and hydrocolloids are some of the fast-growing categories in the market in Europe. Some of the prominent vendors that offer in the region are Givaudan SA and Kerry Group Plc. However, the competition in the market in Europe is high due to the presence of numerous local and global companies, which prevents new players from entering the market and may restrict market growth
Companies are implementing various strategies, such as strategic alliances, market growth and forecasting, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is rapidly developing, driven by the rising demand for plant-based protein products and the increasing popularity of vegetarian and vegan diets. Applications span various sectors including bakery & confectionery, processed food products, and dietary supplements, catering to health-conscious individuals, athletes, and the food and beverage industry. As consumers recognize the health benefits of plant-based proteins, the demand for HVP continues to surge, driving innovation and market expansion. Consumers' demand for clean-labelled food products and flavor enhancers has increased significantly, driven by a shift towards healthier lifestyles and rising disposable incomes. However, there are restraints in the market, including concerns about the production methods such as acid hydrolysis used in flavor enhancers. Despite this, flavor-enhancing properties are widely used in various food products like sauces, hot dogs, dips, dressings, and soups to enhance their taste and appeal to consumers with active lifestyles.
However, some individuals may experience adverse reactions such as headache, sweating, facial pressure, numbness, burning sensation in the face and neck, heart palpitations, chest pain, nausea, and weakness, potentially linked to certain flavorings or imitation meat products containing additives like monosodium glutamate (MSG). As such, the market is witnessing a growing demand for natural flavoring and clean-labeled products made from vegetable sources to cater to health-conscious consumers seeking flavorful options without artificial additives. Additionally, functional beverages are gaining popularity among consumers looking for convenient and nutritious options to support their active lifestyles.
Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.8% |
Market Growth 2024-2028 |
USD 784.81 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.28 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 36% |
Key countries |
US, China, Australia, Finland, and Denmark |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks, hydrolyzed vegetable protein industry share |
Key companies profiled |
Aarkay Food Products Ltd., Aipu Food Industry, Ajinomoto Co. Inc., Akola Chemicals Ltd., BELVITA FOOD INGREDIENTS PVT. LTD., Caremoli SpA, Chaitanya Agro Biotech Pvt. Ltd., Foodchem International Corp., Givaudan SA, Griffith Foods Worldwide Inc., Innova Flavors, Kerry Group Plc, Koninklijke DSM NV, Merck and Co. Inc., New Alliance Dye Chem Pvt. Ltd., Tate and Lyle PLC, YESRAJ AGRO EXPORTS PVT. LTD., Shanghai Bichain Industrial Chemical, SUN IMPEX INTERNATIONAL FOODS LLC, and Titan Biotech Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the prediction period. |
Customization purview |
If our market trends and analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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