Meticulous Research® recently released a report, ‘Hydrolyzed Vegetable Protein 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’, forecasting strong growth in the hydrolyzed vegetable protein market. The market is anticipated to grow at a CAGR of 9.9% from 2024 to 2030, reaching a value of $6.14 billion.
Consumer trends are shifting toward plant-based proteins, with increasing awareness about their health benefits. This, combined with the rising demand for processed and convenience foods, is driving the market forward. However, price fluctuations and competition from isolates and concentrates present challenges.
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Leading Market Players
Key industry participants include Kerry Group Plc, Cargill, Incorporated, Rouquette Frères, Ajinomoto Co., Inc., Tate & Lyle PLC, Foodchem Group, Titan Biotech Limited, Archer-Daniels-Midland Company, Aipu Food Industry, and Axiom Foods Inc.
Segmentation Analysis
The report provides a detailed breakdown of the market by source, form, process, and application.
- Source: Soy leads the market due to its affordability and flavor-enhancing properties. Pea protein is on track to exhibit the fastest growth, fueled by increasing demand for plant-based products.
- Form: While solid HVP dominates the market, liquid HVP is poised for rapid growth thanks to its versatility and longer shelf life.
- Process: Acid & alkaline processes continue to lead, but enzymatic processes are expected to grow at a faster rate due to their enhanced functionality and nutritional benefits.
- Application: The food & beverage segment is the largest market share holder, but nutritional supplements are projected to grow the fastest.
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Distribution and Regional Trends
Offline channels will remain dominant in 2024, but online channels will experience the highest growth rate due to expanding e-commerce platforms.
Regionally, North America will maintain the largest market share, while the Asia-Pacific region will see the highest growth due to increasing health consciousness and technological advancements in food processing.
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Key questions answered in the report-
- Which are the high-growth market segments in terms of source, form process, application, distribution channel, and country/region?
- What is the historical market for hydrolyzed vegetable protein across the globe?
- What are the market forecasts and estimates for the period of 2024 to 2030?
- What are the major drivers, restraints, challenges, opportunities, and trends in the hydrolyzed vegetable protein market?
- Who are the major players in the global market, and what are their market shares?
- Who are the major players in various countries, and what are their market shares?
- How is the competitive landscape?
- What are the recent developments in the hydrolyzed vegetable protein market?
- What are the different growth strategies adopted by the major players in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the hydrolyzed vegetable protein market, and how do they compete with other players?
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