What is Global Hydrolysed Vegetable Protein (HVP) Market?
The Global Hydrolysed Vegetable Protein (HVP) Market is an expansive and dynamic sector that encompasses a wide range of products derived from hydrolysed vegetable proteins. These proteins are broken down into their constituent amino acids through a process known as hydrolysis, resulting in a product that is rich in flavor and nutritional value. The market is valued at a staggering US$ 1421 million as of 2023 and is projected to reach an impressive US$ 1980.7 million by 2030. This growth is driven by a variety of factors, including increasing consumer demand for plant-based proteins, advancements in food technology, and the growing awareness of the health benefits associated with consuming hydrolysed vegetable proteins. The market is also influenced by the strategies of key players, such as product innovation, mergers and acquisitions, and geographic expansion.
Soy HVP, Wheat HVP, Others HVP in the Global Hydrolysed Vegetable Protein (HVP) Market:
The Global Hydrolysed Vegetable Protein (HVP) Market is segmented into Soy HVP, Wheat HVP, and Others HVP. Soy HVP is derived from soybeans and is widely used in a variety of food products due to its high protein content and versatile flavor profile. Wheat HVP, on the other hand, is made from wheat and is popular in bakery products, snacks, and cereals. The Others HVP segment includes proteins derived from other plant sources, such as peas, lentils, and beans. Each of these segments has its unique characteristics and applications, contributing to the overall growth and diversity of the market.
Soy Sauce, Other Sauces, Soup Bases, Marinade, Other Food, Others in the Global Hydrolysed Vegetable Protein (HVP) Market:
The Global Hydrolysed Vegetable Protein (HVP) Market finds extensive application in various areas such as Soy Sauce, Other Sauces, Soup Bases, Marinade, Other Food, and Others. In soy sauce, HVP is used to enhance the flavor and nutritional value. In other sauces, it serves as a flavor enhancer and thickening agent. In soup bases, it provides a rich, savory taste and boosts the protein content. In marinades, it helps to tenderize the meat and enhance its flavor. In other foods, it is used as a flavor enhancer, nutritional supplement, and texture improver. The Others category includes applications in beverages, snacks, and dietary supplements.
Global Hydrolysed Vegetable Protein (HVP) Market Outlook:
The Global Hydrolysed Vegetable Protein (HVP) Market outlook is promising. In 2023, the market was valued at US$ 1421 million and is expected to reach US$ 1980.7 million by 2030, growing at a CAGR of 4.8% during the forecast period 2024-2030. The top five manufacturers, Tate & Lyle, Archer Daniels Midland, Exter, Griffith Foods, and Sensient Technologies, accounted for less than 20% of the market share in 2019. Despite the mature technology of each manufacturer, they are striving to develop new application areas. China, as the largest producer, produced about 160 K tons of Hydrolysed Vegetable Protein (HVP) in 2019, accounting for approximately 40% of the global total. China is also the largest consumer, with a market share of nearly 30% in 2019. Following China, the European Union is the second-largest consumer with a market share of about 20%.
| Report Metric | Details |
| Report Name | Hydrolysed Vegetable Protein (HVP) Market |
| Accounted market size in 2023 | US$ 1421 million |
| Forecasted market size in 2030 | US$ 1980.7 million |
| CAGR | 4.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| Consumption by Region |
|
| By Company | Tate & Lyle, Archer Daniels Midland, Exter, Griffith Foods, Sensient Technologies, Vitana, Kerry, Aipu, Cargill, Basic Food Flavors, San Soon Seng Food Industries, Ajinomoto, New Weikang, Levapan, Way Chein, Campbell, IFF, Givaudan, Firmenich, Mitsubishi Corporation Life Sciences, Symega, Haco, Symrise, A. Costantino & C. spa, Flavor House, Weijia, Ingredient Inc, Nactis Flavours, Zamek, Foodchem International, Inthaco, Suboneyo Chemicals Pharmaceuticals, Philippine Aminosan, Zhonghui, New Alliance Dye Chem, Titan Biotech |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
