Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Hydrolyzed Vegetable Protein Market (Type: Dry Powder, Paste and Liquid; Application: Food Industry, Beverages, Cosmetics) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2025”, forecasts that the global market for hydrolyzed vegetable protein is expected to grow at a CAGR of around 5.6% from 2018 to 2025 and reach the market value of nearly $800 million by 2025. Hydrolyzed vegetable protein (HVP) is a flavor enhancer used in processed foods. It is obtained by acid hydrolysis of soybean, corn, or wheat, which is broken down into amino acids and can also be produced by enzyme hydrolysis or by alkaline treatment. Additionally, it is used for enhancing the taste of food products such as soup, bouillon cubes, spices, beef products, seasonings, flavorings, veggie burgers, sauces, gravy, cheese powder, and functional beverages among others. As hydrolyzed vegetable protein is produced chemically, manufacturers consider it to be natural flavoring as it is originally derived from vegetable products and also considered as the most sustainable protein ingredients. Strong scientific reasons supporting different health benefits of hydrolyzed vegetable protein is a key factor driving the growth of this market. Rising awareness among consumers about dietary supplements and functional foods is a significant factor for market development. Moreover, the price of soybean fluctuates frequently due to variance in demand and supply of grains, which results in rising production costs of vegetable protein and is likely to hinder the growth of hydrolyzed vegetable protein market. Increasing demand for hydrolyzed vegetable protein due to increasing consumer preference towards healthy diet is attributed to the rise in a number of consumers opting for sustainable and healthier food. In developing regions, it is estimated to have a positive impact on industry growth due to increased consumer disposable income.
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Wide Applications in Food Industry
The food industry held largest market share in global hydrolyzed vegetable protein market in 2017 as it is a popular flavoring agent in various products to enhance taste such as snacks, burgers, seasonings, and snacks. Hydrolyzed vegetable protein is also preferred for various dishes like cheese powder, bouillon cubes, stews, imitation meat products, instant soups, dipping sauce and many more. Many manufacturers use hydrolyzed vegetable protein products to restore the loss of flavors and unique taste characteristics as frozen, canned or dried food products tend to lose their flavor. The wide range of applications will propel the market growth during the forecast period. The rise in application and demand of flavor enhancer in food and beverages industry is estimated to boost the market growth.
Dry Powder Form of Hydrolyzed Vegetable Protein Projected to Dominate the Market
Acid-hydrolyzed vegetable protein is produced by boiling legumes, soy, cereals and wheat with hydrochloric acid, which is neutralized later with the help of sodium hydroxide and broken down into amino acids. Substitute for monosodium glutamate is beef hydrolyzed vegetable protein which is obtained from enzymatic degradation of vegetable proteins. The wide range of applications of liquid hydrolyzed vegetable protein is in various food products such as soup, seafood, meat cures, snacks, casseroles, gravies, dips, and many more. The hydrolyzed vegetable protein is performed with chemical and used as a natural flavoring agent. Therefore, the hydrolyzed vegetable protein market in powder form is dominating the share over the forecasted period.
Hydrolyzed Vegetable Protein Has Been Proven To Be Safe For Utilization In Various Cosmetic Products
Essential components of any vegetable or animal organism are protein. Protein structure varies as per their functions and it protects and cares skin and hair. Protein is building blocks of nature and also a basic ingredient in many cosmetic formulations. Cosmetic formulations with proteins are valued to be strong as it has the film-forming properties and strong moisturizing. Mainly in cosmetics and personal care products, soy proteins and peptides are used safely in hand, body, face and neck products, hair dyes and colors, hair conditioners, shampoos, wave sets, skin care products, other hair care products, and mascara. Therefore, the usage of such natural ingredients in personal care and cosmetic product also ensures natural fragrances and various natural properties which prove to be beneficial for the skin in general.
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Growth Of Hydrolyzed Vegetable Protein Market In Asia-Pacific
Countries in Asia-Pacific such as China, Japan, Australia, and South Korea are influencing the growth of hydrolyzed vegetable protein market. Increasing investments in food industry and rising disposable income is influencing the market growth. China accounted for the largest share in the Asia-Pacific region due to rise in foreign trade, large population, and emerging economic conditions. Furthermore, during the forecasted period, the market penetration will rise due to manufacturers expanding their business in developing countries such as India and Vietnam. Also, rise in demand for healthy ingredients is the factor that drives an increase in healthy processes for food production and advancement in all segments such as dairy products, energy drinks, and confit products. Moreover, continuous rise in young population has led to the improved adoption rate of cosmetics, self-care products, and beauty products.
Hydrolyzed Vegetable Protein Market Expected to Show Positive Impact in North America
North America region is expected to drive the market growth due to rise in awareness and stringent rules and regulations for hydrolyzed process. According to FDA, the classification of salmonella bacteria give rise in investigation in the production line of hydrolyzed vegetable protein process along with the strict rules in packaging and labeling contents. Furthermore, increasing awareness regarding the MSG products and its consumption is the factor that is anticipated to boost up the development of market.
Some of the key players operating in the global hydrolyzed vegetable protein market, profiled in the report include Ajinomoto, Ingredients Inc., Innova Flavors, Tateï¼†Lyle, Savoury Systems International LLC, SUBONEYO Chemicals Pharmaceuticals P Limited, Vinayak Ingredients India Pvt Ltd., Sinofi Ingredients, Dien Inc., Kerry Group, and Others.
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