[Latest] Global Hydrolyzed Vegetable Protein Market Size/Share Worth USD 3,556.8 Million by 2033 at a 6.9% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)
Austin, TX, USA, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Hydrolyzed Vegetable Protein Market Size, Trends and Insights By Source (Pea, Soy, Wheat, Corn, Rapeseed, Rice, Others), By Application (Food and Beverages, Pharmaceuticals, Cosmetics, Animal Feed, Others), By Form (Liquid, Powder), By End-Use Industry (Food Processing Industry, Nutraceutical Industry, Personal Care Industry, Animal Feed Industry, Others), By Distribution Channel (Direct Sales, Distributors, Online Retail, Offline Retail), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.
“According to the latest research study, the demand of global Hydrolyzed Vegetable Protein Market size & share was valued at approximately USD 1,825.1 Million in 2023 and is expected to reach USD 1,951.2 Million in 2024 and is expected to reach a value of around USD 3,556.8 Million by 2033, at a compound annual growth rate (CAGR) of about 6.9% during the forecast period 2024 to 2033.”
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Hydrolyzed Vegetable Protein Market: Growth Factors and Dynamics
- Increasing Consumer Demand for Plant-Based Products: Growing consumer awareness regarding health and sustainability is driving the demand for plant-based alternatives. Hydrolyzed vegetable protein serves as a versatile and nutritious ingredient in vegetarian and vegan food products, contributing to market growth.
- Rising Preference for Clean Label Ingredients: With consumers becoming more conscious about food labels and ingredients, there is a growing preference for clean label products. Hydrolyzed vegetable protein, derived from natural sources, aligns with this trend, driving its adoption across various food and beverage segments.
- Expanding Food Processing Industry: The growth of the food processing industry, coupled with advancements in food technology, is fueling the demand for hydrolyzed vegetable protein as a flavor enhancer, texturizer, and nutritional supplement in processed foods.
- Innovations in Product Development: Manufacturers are continuously innovating to introduce new formulations and applications of hydrolyzed vegetable protein, such as organic and non-GMO variants, to cater to evolving consumer preferences and dietary requirements.
- Rising Health Consciousness: The increasing focus on health and wellness is driving the demand for products with natural and functional ingredients. Hydrolyzed vegetable protein offers nutritional benefits, including amino acids and vitamins, appealing to health-conscious consumers seeking healthier food options.
- Expanding Application in Non-Food Industries: Hydrolyzed vegetable protein is not only used in food and beverages but also finds applications in pharmaceuticals, cosmetics, and animal feed industries. The diversification of its use across multiple sectors contributes to market expansion and revenue growth.
- Global Shift Towards Meat Alternatives: The rising popularity of meat alternatives, driven by concerns about animal welfare, environmental sustainability, and health, is propelling the demand for hydrolyzed vegetable protein. It serves as a key ingredient in plant-based meat substitutes, offering texture, flavor, and protein content comparable to animal-derived products, thus driving market growth in the meat alternative segment.
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Hydrolyzed Vegetable Protein Market: Partnership and Acquisitions
- In 2023, Surthrival introduced a pioneering plant-based protein product sourced from wild foraging, claiming it as the first of its kind. This innovative offering aligns with growing consumer demand for natural and sustainable protein alternatives, catering to health-conscious and environmentally conscious consumers.
- In 2021, Kerry Group acquired Pevesa Biotech, a Spanish company specializing in organic and non-allergenic plant protein ingredients for various nutritional applications. This strategic move aims to bolster Kerry’s position in the hydrolyzed vegetable protein market, offering customers a wider range of innovative and sustainable protein solutions.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 1,951.2 Million |
| Projected Market Size in 2033 | USD 3,556.8 Million |
| Market Size in 2023 | USD 1,825.1 Million |
| CAGR Growth Rate | 6.9% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Source, Application, Form, End-Use Industry, Distribution Channel and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
(A free sample of the Hydrolyzed Vegetable Protein report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Hydrolyzed Vegetable Protein report has been modified to include the COVID-19 impact study prior to delivery.)
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Hydrolyzed Vegetable Protein Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the Hydrolyzed Vegetable Protein Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disruption in Supply Chain: The COVID-19 pandemic led to disruptions in the global supply chain, affecting the availability of raw materials and hindering the production and distribution of hydrolyzed vegetable protein products, leading to temporary shortages and price fluctuations.
- Shift in Consumer Purchasing Behavior: During lockdowns and economic uncertainty, consumer purchasing behavior shifted, with increased demand for shelf-stable and essential food items. This change reduced the demand for specialty ingredients like hydrolyzed vegetable protein, impacting market growth temporarily.
- Resilience of Food Processing Industry: As economies reopened and food demand stabilized, the food processing industry, a key consumer of hydrolyzed vegetable protein, demonstrated resilience. Increased production and consumption of processed foods contributed to the recovery of market demand.
- Focus on Health and Nutrition: The pandemic heightened consumer awareness of health and nutrition, leading to a renewed interest in plant-based and functional food ingredients like hydrolyzed vegetable protein, perceived as healthier alternatives to traditional products.
- Innovation in Product Development: Manufacturers responded to changing consumer preferences by innovating and introducing new hydrolyzed vegetable protein formulations, such as organic and non-GMO variants, to meet the evolving market demand and align with post-pandemic health-conscious trends.
- Expansion of Distribution Channels: The adoption of e-commerce platforms and online retail channels expanded post-COVID, providing manufacturers with new avenues to reach consumers directly, and facilitating the recovery of hydrolyzed vegetable protein market sales and distribution.
- Resurgence of Food Service Sector: The gradual reopening of restaurants and food service establishments post-pandemic revitalized demand for hydrolyzed vegetable protein as an ingredient in prepared meals and restaurant dishes, contributing to the market’s recovery.
- Government Stimulus Packages: Government stimulus measures aimed at reviving the economy post-COVID provided financial support to businesses, including those in the food processing industry. This injection of capital helped alleviate financial strains and encouraged investment in production capacity and innovation within the hydrolyzed vegetable protein market, facilitating its recovery.
In conclusion, the COVID-19 pandemic has had a mixed impact on the Hydrolyzed Vegetable Protein Market, with some challenges and opportunities arising from the pandemic.
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Key questions answered in this report:
- What is the size of the Hydrolyzed Vegetable Protein market and what is its expected growth rate?
- What are the primary driving factors that push the Hydrolyzed Vegetable Protein market forward?
- What are the Hydrolyzed Vegetable Protein Industry's top companies?
- What are the different categories that the Hydrolyzed Vegetable Protein Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Hydrolyzed Vegetable Protein market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2024−2033
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Hydrolyzed Vegetable Protein Market – Regional Analysis
The Hydrolyzed Vegetable Protein Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: North America exhibits a growing trend towards clean label and organic hydrolyzed vegetable protein products, driven by increasing consumer demand for healthier and sustainably sourced ingredients. Additionally, there’s a rising preference for plant-based protein alternatives, particularly in the United States and Canada, fueled by health-conscious lifestyles and the popularity of meat substitutes.
- Europe: In Europe, there’s a notable trend towards premiumization and product differentiation within the hydrolyzed vegetable protein market. Consumers are seeking high-quality, innovative products with unique flavor profiles and functional benefits. Furthermore, there’s a growing emphasis on sustainability and ethical sourcing, driving demand for eco-friendly and ethically produced hydrolyzed vegetable protein products across the region.
- Asia-Pacific: The Asia-Pacific region experiences a surge in demand for hydrolyzed vegetable protein, propelled by the increasing adoption of vegetarian and vegan diets, particularly in countries like India and China. Moreover, there’s a growing interest in fortified food products and functional ingredients, leading to the incorporation of hydrolyzed vegetable proteins into a variety of processed foods and beverages to enhance nutritional value.
- LAMEA (Latin America, Middle East, and Africa): In the LAMEA region, there’s a rising trend towards convenience and affordability in hydrolyzed vegetable protein products. With a growing urban population and changing consumer lifestyles, there’s increased demand for convenient, ready-to-eat food options containing hydrolyzed vegetable proteins. Additionally, manufacturers are focusing on catering to diverse regional tastes and preferences, offering a range of flavored and culturally relevant hydrolyzed vegetable protein products.
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List of the prominent players in the Hydrolyzed Vegetable Protein Market:
- Cargill Incorporated
- Archer Daniels Midland Company
- Kerry Group plc
- Tate & Lyle PLC
- Ajinomoto Co. Inc.
- Ingredion Incorporated
- DSM Nutritional Products AG
- Givaudan SA
- Symrise AG
- Associated British Foods plc
- Koninklijke DSM N.V.
- Sensient Technologies Corporation
- DuPont de Nemours Inc.
- CHS Inc.
- Bunge Limited
- Others
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The Hydrolyzed Vegetable Protein Market is segmented as follows:
By Source
- Pea
- Soy
- Wheat
- Corn
- Rapeseed
- Rice
- Others
By Application
- Food and Beverages
- Pharmaceuticals
- Cosmetics
- Animal Feed
- Others
By Form
- Liquid
- Powder
By End-Use Industry
- Food Processing Industry
- Nutraceutical Industry
- Personal Care Industry
- Animal Feed Industry
- Others
By Distribution Channel
- Direct Sales
- Distributors
- Online Retail
- Offline Retail
Click Here to Get a Free Sample Report of the Global Hydrolyzed Vegetable Protein Market @ https://www.custommarketinsights.com/report/hydrolyzed-vegetable-protein-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Hydrolyzed Vegetable Protein Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Hydrolyzed Vegetable Protein Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Hydrolyzed Vegetable Protein Market? What Was the Capacity, Production Value, Cost and PROFIT of the Hydrolyzed Vegetable Protein Market?
- What Is the Current Market Status of the Hydrolyzed Vegetable Protein Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Hydrolyzed Vegetable Protein Market by Considering Applications and Types?
- What Are Projections of the Global Hydrolyzed Vegetable Protein Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Hydrolyzed Vegetable Protein Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Hydrolyzed Vegetable Protein Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Hydrolyzed Vegetable Protein Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Hydrolyzed Vegetable Protein Industry?
Click Here to Access a Free Sample Report of the Global Hydrolyzed Vegetable Protein Market @ https://www.custommarketinsights.com/report/hydrolyzed-vegetable-protein-market/
Reasons to Purchase Hydrolyzed Vegetable Protein Market Report
- Hydrolyzed Vegetable Protein Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Hydrolyzed Vegetable Protein Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Hydrolyzed Vegetable Protein Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Hydrolyzed Vegetable Protein Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Hydrolyzed Vegetable Protein market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Hydrolyzed Vegetable Protein market analysis.
- The competitive environment of current and potential participants in the Hydrolyzed Vegetable Protein market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Hydrolyzed Vegetable Protein market should find this report useful. The research will be useful to all market participants in the Hydrolyzed Vegetable Protein industry.
- Managers in the Hydrolyzed Vegetable Protein sector are interested in publishing up-to-date and projected data about the worldwide Hydrolyzed Vegetable Protein market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Hydrolyzed Vegetable Protein products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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