Hydrolyzed Vegetable Protein Market Size to Reach $2.65 Billion By 2032

The Hydrolyzed Vegetable Protein Market, valued at USD 1.38 Billion in 2023, is anticipated to surpass USD 2.65 Billion by 2032, reflecting a projected CAGR of 7.7%.  HVP stands for Hydrolyzed vegetable protein & it is a flavoring agent added to food products mostly in processed foods. It is produced by the action of an acid on soybean, corn, or wheat which are split into amino acids of this product. HVP may also be caused by enzymatic breakdown or by alkali treatment. Moreover, they find application in seasoning several food products such as soups, bouillon cubes, spices, seasonings, beef products, flavorings, veggie burgers, gravy, sauces, cheese powders, functional beverages, etc. Hydrolyzed vegetable protein is produced through a chemical process and yet it is considered a natural flavoring because its source is vegetable products. It is also measured one of the most sustainable sources of protein ingredients. The hydrolyzed vegetable protein market has been propelled by stiff evidence linking the product to health benefits. Higher knowledge on the side of the consumers that is associated with demand for dietary supplements as well as functional foods boosts the market development factor. However, the fluctuating price of soybeans, due to variations in the demand and supply of grains, leads to increased production costs for vegetable protein and may hinder market growth. Increasing demand for hydrolyzed vegetable protein, driven by consumer preference for healthier diets, is attributed to the rise in the number of individuals opting for sustainable and nutritious food options. In developing regions, the market is expected to experience positive growth due to rising consumer disposable income. In 2023, the food industry held the largest market share in the global hydrolyzed vegetable protein market, as it is a popular flavoring agent used to enhance the taste of various products such as snacks, burgers, seasonings, and more. Hydrolyzed vegetable protein is also preferred for a range of dishes, including cheese powder, bouillon cubes, stews, imitation meat products, instant soups, dipping sauces, and many others. Manufacturers often use hydrolyzed vegetable protein to restore flavors and unique taste characteristics lost in frozen, canned, or dried food products. This wide range of applications is expected to drive market growth during the forecast period. The increasing use and demand for flavor enhancers in the food and beverage industry are estimated to further boost market expansion. Hydrolyzed Vegetable Protein Market Statistics As of 2023, the global hydrolyzed vegetable protein market was valued at USD 1.38 billion The market is anticipated to grow consistently at an annual rate of 7.7% from 2024 to 2032 North America holds the largest market share, accounting for 38% of the total Asia-Pacific is the fastest-growing region, with a remarkable growth rate of 8.5%, offering substantial opportunities for industry players The soy source segment plays a crucial role in the market The dry powder form is a significant driver of revenue growth within the market Market expansion is significantly fueled by the increasing demand for clean label products and greater transparency in ingredient sourcing Access Table of Content: https://www.acumenresearchandconsulting.com/table-of-content/hydrolyzed-vegetable-protein-market Hydrolyzed Vegetable Protein Market Dynamics Dry Powder Form of Hydrolyzed Vegetable Protein Projected to Dominate the Hydrolyzed Vegetable Protein Market Acid-hydrolyzed vegetable protein is produced by boiling legumes, soy, cereals, and wheat with hydrochloric acid, which is later neutralized with sodium hydroxide, breaking it down into amino acids. Beef hydrolyzed vegetable protein, a substitute for monosodium glutamate, is obtained through the enzymatic degradation of vegetable proteins. Liquid hydrolyzed vegetable protein is used in a wide range of food products such as soups, seafood, meat cures, snacks, casseroles, gravies, dips, and more. Hydrolyzed vegetable protein, produced chemically, is used as a natural flavoring agent. Consequently, the market for hydrolyzed vegetable protein in powder form is projected to dominate during the forecast period. Hydrolyzed Vegetable Protein Has Been Proven to Be Safe for Utilization in Various Cosmetic Products Proteins are essential components of both vegetable and animal organisms. Their structures vary according to their functions, and they play a crucial role in protecting and caring for the skin and hair. Proteins are fundamental building blocks in nature and a basic ingredient in many cosmetic formulations. Proteins in cosmetics are valued for their film-forming and moisturizing properties. In personal care and cosmetic products, soy proteins and peptides are safely used in hand, body, face, and neck products, as well as in hair dyes, colors, conditioners, shampoos, wave sets, skincare products, other hair care products, and mascara. The use of such natural ingredients in personal care and cosmetic products ensures natural fragrances and beneficial properties for the skin. Hydrolyzed Vegetable Protein Market Segmentation The global market for hydrolyzed vegetable protein is divided into 5 segments: source, form, function, application, and regional markets Source: soy, wheat, corn, pea, and others Form: dry powder, paste, and liquid Function: Flavoring Agent, Emulsifying Agent, and Others Application: bakery & confectionary, processed food products, meat substitutes, beverages, and others Regional industry: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa Hydrolyzed Vegetable Protein Market Regional Outlook Hydrolyzed Vegetable Protein Market Expected to Show Positive Impact in North America The North American region is expected to have significant share in the hydrolyzed vegetable protein market, due to increasing awareness and stringent regulations governing the hydrolyzation process. According to the FDA, the classification of salmonella bacteria has led to heightened scrutiny in the production line of hydrolyzed vegetable protein, along with strict rules for packaging and labeling. Additionally, growing awareness regarding MSG products and their consumption is anticipated to further boost market development. As a result, North America is projected to be the largest region in the hydrolyzed vegetable protein market. Growth of the Hydrolyzed Vegetable Protein Market in Asia-Pacific Countries in the Asia-Pacific region, including China, Japan, Australia, and South Korea, are significantly influencing the growth of the hydrolyzed vegetable protein market. Increasing investments in the food industry and rising disposable incomes are contributing to market growth. China, in particular, accounted for the largest share in the Asia-Pacific region due to its rise in foreign trade, large population, and emerging economic conditions. Furthermore, during the forecast period, market penetration is expected to increase as manufacturers expand their businesses into developing countries such as India and Vietnam. The growing demand for healthy ingredients is driving the adoption of healthier food production processes and advancements in various segments, including dairy products, energy drinks, and confectionery products. Additionally, the continuous rise in the young population has led to increased adoption rates of cosmetics, self-care products, and beauty products. Hydrolyzed Vegetable Protein Market Players Hydrolyzed vegetable protein companies profiled in the report include Kerry Group Plc., DSM, Aipu Food Industry, MGP, Cargill Inc., Roquette Frères, Titan Biotech, Griffith Foods, ADM, Tate & Lyle, and Ajinomoto Co., Inc. 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