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The global hydrolysed vegetable protein industry is driven by an increase in purchasing power and the need for convenience among the general population across the globe. The increasing awareness regarding clean-label food has significantly boosted the industry's growth. The enhanced taste is also supporting the market. In developing countries like China, the over-reliance on highly nutritious food has contributed substantially to the market expansion. The increased penetration of the major companies in the region is also aiding the industry's growth. Meanwhile, the Middle East and Africa are expected to account for a relatively small market share in the forecast period due to the lack of consumer awareness regarding hydrolysed vegetable protein.
The rising focus of the leading players on expanding their presence across the key developing markets and strengthening their distribution channel is expected to boost the industry growth over the forecast period significantly. Ajinomoto Inc. (TYO: 2802) is one of the leading players in the industry. In addition, the company recently launched a nutritional supplement company in Ireland. Such developments are expected to influence market growth over the forecast period positively.
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The major players in the global hydrolysed vegetable protein market include Ajinomoto Co.Inc., Kerry Inc., Titan Biotech Limited, Cargill, Incorporated, Archer Daniels Midland Company, Roquette Frères, and Dien Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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