Hydrolyzed Vegetable Protein Market: Europe projected to account for 36% of the market's growth by 2028.

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Jan 21, 2024, 20:30 ET

NEW YORK , Jan. 21, 2024 /PRNewswire/ -- The key companies include Aarkay Food Products Ltd., Aipu Food Industry, Ajinomoto Co. Inc., Akola Chemicals Ltd., and BELVITA FOOD INGREDIENTS PVT. LTD., and others

Technavio has announced its latest market research report titled Global Hydrolyzed Vegetable Protein Market 2024-2028

The hydrolyzed vegetable protein market is to grow by USD 784.81 million from 2023 to 2028 progressing at a CAGR of 5.8% during the forecast period. Europe is estimated to contribute 36% to the growth of the global market during the forecast period. Major revenue contributors in Europe's HVP market include the UK, France, Italy, and Germany. Economic challenges, including increased taxes and manufacturing costs due to the European economic crisis, have moderated market growth. Noteworthy categories experiencing rapid growth in the European HVP market are fat replacers, artificial sweeteners, and hydrocolloids. The market is characterized by high competition, featuring numerous local and global companies.

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The hydrolyzed vegetable protein market covers the following areas:

Increasing market demand for plant protein-based diets is notably driving the market growth. With a growing focus on health and the importance of protein in diets, people are looking for new ways to incorporate it into meals. Protein Hydrolysis (HVP) has emerged as a versatile ingredient, facilitating the use of plant proteins in various foods, including meat and dairy alternatives, as well as soups, sauces, and gravies. Derived from Vegetable Sources, HVP serves as a Flavor Enhancer, adding to the Umami Taste and functioning as a Food Additive. It meets the demand for Plant-Based Protein, such as Soy-Based HVP, Corn-Based HVP, Wheat-Based HVP, and Pea Protein Hydrolysate, in the Food Industry, addressing the need for Savory Flavors and Nutritional Supplements.

Increasing adoption of organic and natural ingredients is an emerging trend in the market. However, increasing demand for healthy and nutritional food products is a significant challenge hindering market growth.

The hydrolyzed vegetable protein market analysis includes Type, Distribution Channel, and geography landscape.

The market share growth by the dry powder segment will be significant during the forecast years. HVP powder production considers factors like natural nutrient content, shelf life, accurate composition, and precise pH value. Commonly used in umami-flavored food products, HVP powder enhances meaty seasonings, oriental cuisine, and snacks.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

Aarkay Food Products Ltd.
Aipu Food Industry
Ajinomoto Co. Inc.
Akola Chemicals Ltd.
BELVITA FOOD INGREDIENTS PVT. LTD.
Caremoli SpA
Chaitanya Agro Biotech Pvt. Ltd.
Foodchem International Corp.
Givaudan SA
Griffith Foods Worldwide Inc.
Innova Flavors
Kerry Group Plc
Koninklijke DSM NV
Merck and Co. Inc.
New Alliance Dye Chem Pvt. Ltd.
Tate and Lyle PLC
YESRAJ AGRO EXPORTS PVT. LTD.
Shanghai Bichain Industrial Chemical
SUN IMPEX INTERNATIONAL FOODS LLC
Titan Biotech Ltd.

Aarkay Food Products Ltd. - The company offers protein foods such as soya, groundnut, and wheat.

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Related Reports

The hydrolyzed corn protein market size is forecast to increase by USD 22.33 million, at a CAGR of 3.5% between 2023 and 2028.

The Pea Protein Market size is projected to increase by USD 203.32 million. and the market size is estimated to grow at a CAGR of 12.24% between 2022 and 2027.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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