Hydrolysed Vegetable Protein Market Sees a Zesty Outlook, Aiming to Reach US$ 2,886.0 million by 2033

The Hydrolyzed Vegetable Protein market is set for substantial growth, aiming to reach a projected value of around US$ 2,886.0 million by 2033, with an impressive value-based CAGR of approximately 7.2% from 2023. The dominance of top players, accounting for about 36.3% in 2022, signifies a competitive landscape driving innovation and market expansion.

The health benefits of hydrolyzed vegetable protein include better digestion, a lower risk of heart disease, and a stronger immune system. Customers who are willing to pay more for products like snacks manufactured with hydrolyzed pea protein are getting more and more interested in products made with hydrolyzed vegetable protein.

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Over the past five years, consumer preferences have evolved in favour of plant-based protein. This can also be attributed to their growing health consciousness, which has raised demand for nutritional products that are high in nutrients. Along with rising health awareness, some of the major companies have been emphasising the benefits of products containing hydrolyzed vegetable protein for treating and preventing conditions typically associated with obesity and high cholesterol. As a result, more soy, wheat, pea, rice, flax, and other vegetarian sources of hydrolyzed protein are being sold. The most popular of these is by far soy protein. In 2021, it will account for more than 39% of the market, according to FMI’s prediction.

Key Takeaways from the hydrolysed vegetable protein Market Study

  • Hydrolysed vegetable protein market will showcase growth at a positive pace through 2031. It has been forecast to exhibit 5.3% Y-o-Y growth in 2021
  • In North America, the U.S. has emerged dominant, accounting for 80.8% share in 2021
  • UK will remain a key market, exhibiting 4.1% Y-o-Y growth in 2021
  • Germany and France to remain lucrative markets for hydrolysed vegetable protein in Europe
  • Healthy growth expected in Japan and South Korea, while dominance in East Asia is likely to remain with China

Product Development by Market Players to Spur Growth Opportunities

An increasing number of consumers across the world have been showing inclination towards vegan protein. This has been encouraging companies to invest in new product development based on hydrolysed vegetable protein. The rising demand for sustainable solutions has been paving way for innovation. Besides this, preference towards products with higher shelf-life has emerged as chief driver of innovations within the market. Resultantly, a slew of product launches has been recorded in the last few years, which are expected to aid the overall expansion.

For instance, in 2019, DuPont launched six new hydrolysed vegetable protein nuggets from its SUPRO and TRUPRO product range. These new products offer more protein and less sodium and are is suitable for the manufacturers of snacks, serials, nutrition bar and others. These hydrolysed vegetable protein products include SUPRO soy protein nuggets with cocoa range and TUPRO pea protein nuggets.

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Who is winning?

A few of the leading players operating in the Hydrolysed vegetable protein market are Glanbia Plc., Cargill Inc., Kerry Group PLC, DuPont de Nemours, Inc., Tate & Lyle Plc., Fuji Oil Holdings, Inc., The Scoular Company, Wilmar International Limited, AMCO Proteins, Roquette Frères, Puris Proteins LLC, Burcon NutraScience Corporation, Axiom Foods, Inc., Ajinomoto Co., Inc., and others.

The hydrolysed vegetable protein based products market has witnessed rapid growth in the past few years. Surge in the demand for plant-based products has resulted in fierce competition among manufacturers, suppliers, retailers, and food brands. Due to increasing competition, players in the hydrolysed vegetable protein market are compelled to invest, innovate, and introduce new products.

This has resulted in the expansion of hydrolysed vegetable protein portfolio by some of the renowned market players. For instance, Kerry Company’s strategy is to target regions such as Asia, EMEA, and Latin America, for growth via expanding its production footprint and business development with key regional and local players.

Get Valuable Insights into hydrolysed vegetable protein market 

Product Type

  • Soy Protein
  • Wheat Protein
  • Pea Protein
  • Rice Protein
  • Chia Protein
  • Flax Protein
  • Corn protein

Form

  • Chunks
  • Slice
  • Flakes
  • Granules

End Users

  • Household
  • Commercial
  • Industry
    • Food Industry
      • Snacks & Functional Bars
      • Ready Meals
      • Sports Nutrition
      • Clinical Nutrition
      • Baby Food
      • Meat Analogues/Meat Extenders
      • Other
  • Animal Feed

Distribution Channel

  • Direct
  • Indirect
    • Hypermarket
    • Convenience Stores
    • Traditional Store
    • Online Retails

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Middle East and Africa (MEA)
  • Oceania

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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