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Hydrolyzed Vegetable Proteins Market Size

Report ID: GMI5593
Published Date: May 2023
Report Format: PDF

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Hydrolyzed Vegetable Proteins Market Size

Hydrolyzed Vegetable Proteins Market size reached USD 1.44 billion in 2023 and is poised to exhibit over 7.3% CAGR between 2024 and 2032, driven by the growing prevalence of obesity.

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Fast-food consumption has grown multifold, pushed by the shifting consumer inclination toward on-the-go or ready-to-eat food products. Fast food requires less time and effort, therefore, has gained significant popularity among the youth and working-class population. Hydrolyzed vegetable proteins, such as soy protein, rice protein, pea protein, and others, are added to these products to enhance their nutritional composition. However, the availability of several product alternatives may hamper industry revenue.

Hydrolyzed Vegetable Proteins Market Report Attributes
Report Attribute	Details
Base Year:	2023
Hydrolyzed Vegetable Proteins Market Size in 2023:	USD 1.44 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.3%
2032 Value Projection:	USD 2.72 Billion
Historical Data for:	2018 to 2022
No. of Pages:	350
Tables, Charts & Figures:	268
Segments covered:	Form, Product type, End-use, and Region
Growth Drivers:	Obesity and a growing fast-food business are driving the market. Diabetes preventive priorities will boost market growth
Pitfalls & Challenges:	the availability of alternatives may stymie growth

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Diabetes has emerged as a major health concern in recent years, credited to the increased adoption of a sedentary lifestyle and unhealthy dietary habits. According to the International Diabetes Federation, 1 in every 10, or an estimated 537 million adults aged between 20 and 79 years, had diabetes in 2021. Future predictions suggest that this number can reach 643 million by 2030 and 783 million by 2045.

Hydrolyzed Vegetable Protein Market Size, By Form, 2021 - 2032 (USD Billion)

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The increasing disease burden has prompted individuals to make lifestyle changes and consume diets with rich nutritional composition, which may stimulate vegetable protein demand in the long run. The positive outlook of the fast-food business worldwide is a key contributor driving the hydrolyzed vegetable proteins market demand.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of hydrolyzed vegetable proteins was valued at USD 1.44 billion in 2023 and is primed to observe over 7.3% CAGR from 2024 to 2032, attributed to the high incidence rate of diabetes and increasing fast food consumption worldwide.

The soy protein segment is estimated to grow at over 7.5% CAGR through 2032, given its numerous health benefits and ability to relieve conditions like hormonal imbalance and osteoporosis.

The food & beverages segment accumulated over 41% of the hydrolyzed vegetable proteins industry share in 2022, owing to its widespread usage as a taste enhancer, stabilizer, and foaming agent in a range of food items.

Notable players in the market include Kerry Group Plc, Ajinomoto Co., Inc., Jones-Hamilton Co, DSM, Diana Group, Brolite Products Co. Inc., Caremoli Group, Tate & Lyle Plc, Givaudan, and Griffith Laboratories.