Hydrolyzed vegetable protein is derived from boiling cereals or legumes in hydrochloric acid and then neutralizing the solution with sodium hydroxide. The acid breaks down, the protein present in vegetables into their component amino acids. The resulting liquid is further known as hydrolyzed vegetable protein. Hydrolyzed vegetable protein is widely used as a flavor enhancer in many processed foods such as soups, sauces, stews, seasoned snack foods, gravies, hot dogs, dips and dressings. It is also blended with other spices to make seasonings that are used in or on foods.
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Hydrolyzed Vegetable Protein Market Segmentation
Hydrolyzed vegetable protein market has been segmented on the basis of raw-material, application and form. The raw material segment can be divided in view of the kind of raw material i.e. soy, rapeseed, corn, rice, pea and wheat utilized for producing hydrolyzed vegetable protein. Among all these segments hydrolyzed soy protein is relied upon to possess biggest offer regarding revenue contribution.
Hydrolyzed vegetable protein is further segmented on the basis of application, includes food industry where in hydrolyzed vegetable is used as flavor enhancer. Furthermore food industry can be sub-segmented into noodles, pastas, prepared soups, sauces, ready meals, dips and dressings, meat, fish, seasoning mixes and others. Application can also segmented based on the beverages where hydrolyzed protein is used to complement the amino acid and enhance the flavor in functional beverages. Wide application and increased usage as a flavor enhancer in food and beverages industry is expected to drive the market demand. Moreover, Hydrolyzed vegetable protein is widely accepted by the various nations regarding its usage in various industry which is further expected to fuel the market growth during the forecast period. Hydrolyzed vegetable protein application segment can also be divided into cosmetics where it is used as film-forming agents in face cream and hair care products.
Hydrolyzed vegetable protein is further segmented on the basis of form which includes dry powder, paste and liquid. Among both of these segments powder segment is expected to contribute major share in terms of revenue. Easy water solubility coupled with wide applications in various food product is expected to support the segment growth during the forecast period.
Geographically Asia Pacific is the largest market in terms of consumption of Hydrolyzed vegetable protein followed by North America and is expected to account for the major market share in the forecast period. Among North American region U.S. is expected to be the major contributor in terms of revenue followed by Canada. In Asia pacific region China and India is expected to account for the substantial growth due to increased demand for nutritional food among the consumers. Moreover in Latin America Brazil is expected to be the major contributor in terms of revenue followed by Mexico.
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Hydrolyzed Vegetable Protein Market Drivers & Restraints
Factors such as increase in demand of clean-label and natural ingredients, increasing consumer awareness pertaining to the ill effects related to savory ingredients, and demand for healthy and nutrition products are acting as major restraints for the market. Increasing demand for convenience food, changing lifestyle, and untapped potential in the developing Asia-Pacific countries act as major drivers for the market.
As it is helpful in enhancing flavor of the processed food, so it is also considered as the most sustainable protein ingredients which is favoring its growth in alternate way. However, availability of Monosodium Glutamate (MSG) in Hydrolyzed vegetable protein is expected to restrain the market growth over the forecast period.
Hydrolyzed Vegetable Protein Market: Key Players
- Kerry Group
- Tate & Lyle
- Jones-Hamilton Co.
- DSM, Diana Group
- Brolite Products Co. Inc.
- Kerry Group
- Caremoli Group
- Astron Chemicals S.A.
- McRitz International Corporation
- Good Food, Inc.