Redding, California, Aug. 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Hydrolyzed Vegetable Proteins 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,’ the hydrolyzed vegetable proteins market is expected to reach $6.14 billion by 2030, at a CAGR of 9.9% from 2023 to 2030.
The growth of this market is attributed to the increased demand for processed & convenience foods, the growing popularity of vegetarian and vegan diets, the rising awareness about the health benefits of plant-based proteins, and growing health and wellness trends. Additionally, increasing intolerance for animal proteins and emerging economies are expected to offer significant growth opportunities for market players. However, the wide availability & high preference for isolates and concentrates and fluctuating raw material prices restrain the market’s growth.
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The key players operating in the hydrolyzed vegetable proteins market are 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.).
The hydrolyzed vegetable proteins market is segmented based on source, form, process, application, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
Key Findings in the Hydrolyzed Vegetable Proteins Market Study:
Based on source, the hydrolyzed vegetable proteins market is segmented into soy, wheat, pea, corn, rice, and other sources. In 2023, the soy segment is expected to account for the largest share of the hydrolyzed vegetable proteins market. However, the pea segment is expected to register the highest CAGR during the forecast period. This growth is attributed to the absence of common allergens in protein hydrolysates derived from peas, including dairy, soy, and gluten, making it an ideal option for individuals with food allergies or sensitivities. Furthermore, protein hydrolysates derived from peas have become a sought-after protein supplement among athletes, bodybuilders, and health-conscious consumers due to their protein content and various health benefits.
Based on form, the hydrolyzed vegetable proteins market is segmented into solid and liquid. In 2023, the solid segment is expected to account for the larger share of the hydrolyzed vegetable proteins market. The large market share of this segment is attributed to the growing demand for solid hydrolyzed vegetable proteins due to their benefits such as ease of handling & transport, relatively lower costs, reduced likelihood of formulation errors, and ingredient stability. However, the liquid segment is expected to register the highest CAGR during the forecast period due to its high shelf life, natural and fresh appeal, and versatility for various applications.
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Based on process, the hydrolyzed vegetable proteins market is segmented into acid & alkaline and enzymatic. In 2023, the acid & alkaline segment is expected to account for the larger share of the hydrolyzed vegetable proteins market. However, the enzymatic segment is expected to register the highest CAGR during the forecast period due to the benefits offered by this process, such as improved functional properties, solubility, and nutritional enhancement.
Based on application, the hydrolyzed vegetable proteins market is segmented into food & beverages, infant nutrition, nutritional supplements, animal feed, cosmetics, and other applications. In 2023, the food & beverages segment is expected to account for the largest share of the hydrolyzed vegetable proteins market. However, the nutritional supplements segment is expected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the rising adoption of natural protein-rich nutritional supplements with the growing health & wellness trends, changing lifestyles, increasing awareness of nutrition, and the increasing prevalence of diseases.
Based on geography, in 2023, North America is expected to account for the largest share of the hydrolyzed vegetable proteins market. North America’s major market share is attributed to the increased production of functional and convenient food & beverages, rising concerns over animal products and protein, increasing vegan population, growing preference for plant based-products, high demand for health supplements, and the presence of numerous hydrolyzed vegetable protein manufacturers in the region. However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is attributed to growing awareness about the health benefits of protein-rich diets, increasing focus on nutrition, technological advancements in the food & beverages industry, wide availability of raw materials, and a substantial vegetarian population.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/hydrolyzed-vegetable-protein-market-5603
Scope of the report:
Hydrolyzed Vegetable Proteins Market Assessment - by Source
- Soy
- Wheat
- Pea
- Corn
- Rice
- Other Sources
Hydrolyzed Vegetable Proteins Market Assessment - by Form
- Solid
- Chunks
- Slices
- Flakes
- Granules
- Liquid
Hydrolyzed Vegetable Proteins Market Assessment - by Process
- Acid & Alkaline
- Enzymatic
Hydrolyzed Vegetable Proteins Market Assessment - by Application
- Food & Beverages
- Processed Fish, Meat, and Egg Products and Alternatives
- Bakery & Confectionery
- Snack Foods
- Soups, Sauces, and Dressings
- Breakfast Cereals and Meals Dairy
- Beverages
- Others Food & Beverage Applications
- Infant Nutrition
- Nutritional Supplements
- Other Applications
Hydrolyzed Vegetable Proteins Market Assessment - by Distribution Channel
- Offline
- Online
Hydrolyzed Vegetable Proteins Market Assessment - by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Quick Buy – Hydrolyzed Vegetable Proteins Market- Global Opportunity Analysis and Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/20890046
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