NEW YORK , Jan. 21, 2024 /PRNewswire/ — The key companies include Aarkay Food Products Ltd., Aipu Food Industry, Ajinomoto Co. Inc., Akola Chemicals Ltd., and BELVITA FOOD INGREDIENTS PVT. LTD., and others
The hydrolyzed vegetable protein market is to grow by USD 784.81 million from 2023 to 2028 progressing at a CAGR of 5.8% during the forecast period. Europe is estimated to contribute 36% to the growth of the global market during the forecast period. Major revenue contributors in Europe’s HVP market include the UK, France, Italy, and Germany. Economic challenges, including increased taxes and manufacturing costs due to the European economic crisis, have moderated market growth. Noteworthy categories experiencing rapid growth in the European HVP market are fat replacers, artificial sweeteners, and hydrocolloids. The market is characterized by high competition, featuring numerous local and global companies.
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The hydrolyzed vegetable protein market covers the following areas:
Increasing market demand for plant protein-based diets is notably driving the market growth. With a growing focus on health and the importance of protein in diets, people are looking for new ways to incorporate it into meals. Protein Hydrolysis (HVP) has emerged as a versatile ingredient, facilitating the use of plant proteins in various foods, including meat and dairy alternatives, as well as soups, sauces, and gravies. Derived from Vegetable Sources, HVP serves as a Flavor Enhancer, adding to the Umami Taste and functioning as a Food Additive. It meets the demand for Plant-Based Protein, such as Soy-Based HVP, Corn-Based HVP, Wheat-Based HVP, and Pea Protein Hydrolysate, in the Food Industry, addressing the need for Savory Flavors and Nutritional Supplements.
Increasing adoption of organic and natural ingredients is an emerging trend in the market. However, increasing demand for healthy and nutritional food products is a significant challenge hindering market growth.
The hydrolyzed vegetable protein market analysis includes Type, Distribution Channel, and geography landscape.
- The market share growth by the dry powder segment will be significant during the forecast years. HVP powder production considers factors like natural nutrient content, shelf life, accurate composition, and precise pH value. Commonly used in umami-flavored food products, HVP powder enhances meaty seasonings, oriental cuisine, and snacks.
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- Aarkay Food Products Ltd.
- Aipu Food Industry
- Ajinomoto Co. Inc.
- Akola Chemicals Ltd.
- BELVITA FOOD INGREDIENTS PVT. LTD.
- Caremoli SpA
- Chaitanya Agro Biotech Pvt. Ltd.
- Foodchem International Corp.
- Givaudan SA
- Griffith Foods Worldwide Inc.
- Innova Flavors
- Kerry Group Plc
- Koninklijke DSM NV
- Merck and Co. Inc.
- New Alliance Dye Chem Pvt. Ltd.
- Tate and Lyle PLC
- YESRAJ AGRO EXPORTS PVT. LTD.
- Shanghai Bichain Industrial Chemical
- SUN IMPEX INTERNATIONAL FOODS LLC
- Titan Biotech Ltd.
Aarkay Food Products Ltd. – The company offers protein foods such as soya, groundnut, and wheat.
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The hydrolyzed corn protein market size is forecast to increase by USD 22.33 million, at a CAGR of 3.5% between 2023 and 2028.
The Pea Protein Market size is projected to increase by USD 203.32 million. and the market size is estimated to grow at a CAGR of 12.24% between 2022 and 2027.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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