Global Hydrolysed Vegetable Protein Market to Rise at a CAGR of 4.3% During 2024-2032, Aided by the Increasing Consumer Preference for Point of Care Testing

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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Market Breakup by Source, Form, Application, and Region:

• The market is bifurcated based on source into soy, rapeseed, corn, rice, pea, and wheat, among others.
• On the basis of form, the market can be divided into dry powder, paste, and liquid.
• Based on application, the market is segmented into food and beverages, personal care products, animal feed, and infant nutrition, among others.
• The regional markets for hydrolysed vegetable protein can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

• The global market for hydrolysed vegetable protein is driven by the growing consumer demand for tastier and healthier food products.
• The growing awareness of clean label foods has significantly contributed to the market expansion.
• The rising awareness about the importance of fitness and healthy diets provides an impetus to market growth.
• With the outbreak of the COVID-19 pandemic, the market is expected to witness robust growth owing to the increasing awareness of clean label foods.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for hydrolysed vegetable protein for the periods (2018-2023) and (2024-2032).
• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the source, form, application, and region of hydrolysed vegetable protein.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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