Hydrolyzed Vegetable Proteins Market Size, Share & Trends Analysis Report By Function (Emulsifying Agent, Flavoring Agent), By Source (Soy, Pea), By Application (Beverages, Meat Substitutes), And Segment Forecasts, 2023 - 2030

Hydrolyzed Vegetable Proteins Market Size, Share & Trends Analysis Report By Function (Emulsifying Agent, Flavoring Agent), By Source (Soy, Pea), By Application (Beverages, Meat Substitutes), And Segment Forecasts, 2023 - 2030

Hydrolyzed Vegetable Proteins Market Growth & Trends

The global hydrolyzed vegetable proteins market size is expected to reach USD 2.30 billion by 2030, registering a CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. The product demand is anticipated to be driven by several factors, such as the rising demand for meat analogs due to the growing popularity of the vegan diet, increasing demand for functional foods and healthy snacking as well as a growing interest in plant-based proteins. The increasing demand for vegan and vegetarian diets is one of the major drivers of the market. With the growing awareness about the benefits of plant-based diets, more consumers are opting for vegetarian and vegan food products.

Hydrolyzed Vegetable Protein (HVP) is a popular ingredient in vegetarian and vegan food products as it provides a rich source of protein without the use of animal-based ingredients. HVPs are becoming an important ingredient in the preparation of new foods, including meat analogs, sausages, soups, and cereals. It is also used as a flavoring agent in meat analogs to improve the taste as well as flavor. Meat analogs are non-meat foods that are designed to resemble meat in flavor, texture, chemical characteristics, and appearance. With the use of hydrolyzed plant protein, food manufacturers can create meat analogs that are both healthy & flavorful and appealing to a wide range of consumers who are looking for plant-based options.

The popularity of healthy snack foods is on the rise, especially among working individuals who have busy schedules due to rapid urbanization and changing lifestyles. The popularity of Ready-To-Eat (RTE) meals has led to an increase in demand for hydrolyzed vegetable proteins in the food industry. Hydrolyzed vegetable proteins are widely used in the food industry as a texturizer, flavor enhancer, and preservative. They are obtained by breaking down vegetable proteins into smaller components through a process called hydrolysis. HVPs are used in many RTE meals, including soups, stews, and casseroles, to enhance their flavor and improve texture. They are also used in sauces, salad dressings, and marinades to provide a rich umami flavor and extend their shelf life.

In addition to their use in the RTE meal market, HVPs are also used in the production of processed foods, such as baked goods, breakfast cereals, and snack foods. HVPs can be used to improve the taste and texture of a variety of food products. The increasing demand for functional foods is another key factor driving the growth of the hydrolyzed vegetable protein market. Functional foods are food products that provide health benefits beyond basic nutrition. HVP is used as a functional ingredient in various food products, such as nutrition bars, beverages, and meal replacement shakes. The incorporation of hydrolyzed plant protein in functional foods is expected to drive the growth of the global hydrolyzed plant protein market in the coming years.

Hydrolyzed Vegetable Proteins Market Report Highlights

• The soy source segment dominated the market in 2022. Soy-based HVPs are a popular choice among food manufacturers due to their availability, cost-effectiveness, health benefits, and flavor-enhancing properties
• Soy is a good source of protein, making soy-based HVP a popular option for vegetarian and vegan diets. It is also low in fat, calories, and cholesterol, making it a relatively healthy alternative to animal-based flavorings
• The flavoring agent segment accounted for the highest revenue share in 2022 owing to the ability of HVP to provide a savory or umami taste that enhances the overall flavor of food products
• The growing demand for plant-based and vegetarian food products is further driving the market for HVP as a flavoring agent
• The flavoring agent segment accounted for the highest market share in 2022 owing to the increasing application of HVP as an emulsifying agent, a flavor enhancer, and a texture modifier in processed foods
• As consumers increasingly seek out convenient, longer-lasting foods due to changing lifestyles, the demand for processed foods is expected to grow, leading to an increase in demand for HVP as an ingredient in these products
• North America dominated the industry in 2022 on account of the popularity of RTE meals and rising HVP usage in such food products due to its health benefits and natural preservative properties

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