The global hydrolyzed vegetable protein market is anticipated to gain impetus from the growing demand from numerous food product manufacturers. These manufacturers use hydrolyzed vegetable protein in high-demand food items, such as noodles, meat, soup, and pasta to enhance their flavors. Fortune Business Insights, in an upcoming report, titled, “Hydrolyzed Vegetable Protein Market Size, Share and Global Trend By Source (Pea, Soy, Wheat, Corn, Rapeseed, Rice, Others), By Form (Liquid, Powder, Paste), By Application (Functional Beverages, Food Products), and Geography Forecast Till 2026,” the governments of several countries across the world have begun conducting awareness programs to make the populace understand the advantages of consuming plant-based protein instead of meat or dairy protein. These are two of the major factors that are projected to surge the global hydrolyzed vegetable protein market revenue.
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Hydrolyzed Soy Protein Segment to Exhibit High Growth Fueled by High Nutritional Value
The report classifies the global hydrolyzed vegetable protein market on the bases of three segments, namely, source, form, application, and geography. In terms of source, the market is further grouped into rice, pea, rapeseed, soy, corn, wheat, and others. Out of these, the soy segment is projected to lead the global market and witness an impressive CAGR during the forthcoming years. This will occur because hydrolyzed soy protein possesses high average selling price, unlike the other types of vegetable protein. Furthermore, hydrolyzed soy protein has high nutritional value.
Increasing International Trade Likely to Favor Growth of Market in Asia Pacific
The global hydrolyzed vegetable protein market is geographically divided by the Middle East and Africa, Europe, Asia Pacific, Latin America, and North America. Amongst these regions, Asia Pacific has successfully acquired the largest portion of the global market share. Fortune Business Insights predicts that the region will remain in the dominant position throughout the forecast period. This will occur as developed and developing countries, namely, Japan, South Korea, Australia, India, and China are witnessing an increasing demand for hydrolyzed vegetable protein. This, combined with increasing per capita income, rapid growth of international trade, and the ever increasing population in the Asian countries are likely to contribute to the hydrolyzed vegetable protein market growth during the forthcoming years in this region. North America, on the other hand, is expected to follow the footsteps of Asia Pacific in the coming years. The growth is attributed to the increasing application and adoption of hydrolyzed vegetable protein in cosmetics as well as food and beverage industries.
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Cargill Inc. and Innova Launch Innovative Products to Eliminate Ingredient Challenge
Cargill Inc., a global producer of agriculture, food, industrial, and financial products, based in the U.S., announced that it has launched a new soluble hydrolyzed wheat protein in 2013. The protein can be used in a variety of beverages and at the same time, it would offer manufacturers of beverages an opportunity to produce clear protein drinks. Innova, a division of Griffith Laboratories that specializes in developing customized savory and meat flavors for food industry, announced the launch of its latest low-sodium hydrolyzed vegetable protein in 2012. The company stated that it has finally managed to solve the crucial challenge of ingredient that has been pestering the food manufacturers since the last few decades. The product promises to be cost-effective and would not cause any change in the taste.
Fortune Business Insights has profiled some of the leading players operating in the global hydrolyzed vegetable protein market. They are McRitz International Corporation, Caremoli Group, Givaudan, Brolite Products Co Inc., Diana Group, Ajinomoto Co., Inc., Astron chemicals S.A., Kerry Group Plc., Tate & Lyle Plc., Griffith Laboratories, Unitechem Co., Ltd., Angel yeast, and other key market players.
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