Hydrolyzed Plant Protein Market Overview
Hydrolyzed Plant Protein Market Size was estimated at 1.73 (USD Billion) in 2022. The Hydrolyzed Plant Protein Market Industry is expected to grow from 1.86(USD Billion) in 2023 to 3.5 (USD Billion) by 2032. The Hydrolyzed Plant Protein Market CAGR (growth rate) is expected to be around 7.3% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Hydrolyzed Plant Protein Market Trends Highlighted
The demand for hydrolyzed plant protein is projected to increase in the near future owing to increased consumer preference for sustainable and plant-based proteins, which in return boosts the market. The growing popularity of vegetarian and vegan diets and the rising knowledge of the benefits of plant proteins to health are contributory factors to the growth of the market.
Some key trends in the coconut protein hydrolysate market include increased protein hydrolysis efficiency allowing the development of more specific functional ingredients. Enhanced activities in R&D are further enhancing the use of hydrolyzed plant proteins in food, beverages, dietary supplements, cosmetics, and other products.
In this study, plenty of opportunities for plant protein manufacturers are expected as consumers' health consciousness towards edible plants rises further. The speed of the product development processes would increase as the collaborations between the producers and the suppliers expand. Furthermore, the introduction of new indigenous plants and innovative production techniques are likely to provide avenues of competitive edge in the market.
Hydrolyzed Plant Protein Market Drivers
Rising Demand for Plant-Based Products
The increasing recognition of the environmental and health benefits of plant-based diets is one of the main factors driving the demand for hydrolyzed plant protein. This ingredient is a highly digestible and versatile product that can be included in the composition of a wide variety of food and beverage products. As such, manufacturers of processed food and drinks are increasingly using this ingredient as a plant-based alternative in order to meet the growing demand for such products among consumers.Therefore, it is likely that the Hydrolyzed Plant Protein Market Industry will grow considerably in the near future since plant-based diets are becoming more popular among consumers who are looking for healthy and environmentally friendly food solutions.
Increasing Use in Food and Beverage Applications
Hydrolyzed plant protein is gaining popularity as an ingredient in food and beverage products due to its nutritional value and functional properties. It is a rich source of essential amino acids, making it an ideal protein source for vegetarians and vegans. Additionally, hydrolyzed plant protein has emulsifying and foaming properties, which make it a valuable ingredient in products such as meat alternatives, dairy alternatives, and baked goods. The versatility of hydrolyzed plant protein is expected to drive its adoption in a wider range of food and beverage applications in the coming years.
Technological Advancements and Innovation
Technological advancements and innovation are playing a key role in the growth of the Hydrolyzed Plant Protein Market Industry. Research and development efforts are focused on improving the production efficiency and functionality of hydrolyzed plant protein. For instance, advances in enzymatic hydrolysis techniques have led to the development of highly efficient and cost-effective processes for producing hydrolyzed plant protein with desired properties.Furthermore, ongoing research is exploring new sources of plant-based proteins and developing novel applications for hydrolyzed plant protein in various industries.
Hydrolyzed Plant Protein Market Segment Insights
Hydrolyzed Plant Protein Market Source Insights
In 2023, the soy source segment was observed to be continuing as the largest contributor to market revenue. It captured over 40% of the total hydrolyzed plant protein market due to being the most prevalent and best-developed source of plant protein. Soy products are used in a variety of applications, such as meat and dairy alternatives and nutritional supplements, because of the significant market share of soybeans worldwide, as well as the high protein content of this plant source and its well-developed processing infrastructure. Wheat also demonstrated a rather high rate in the source segment, holding around 25% of the hydrolyzed plant protein market in 2023.Hydrolyzed plant proteins from wheat are also becoming increasingly popular due to their high protein content and gluten- and taint-free characteristics, as well as the propensity to be significantly less expensive than other plant protein sources. Wheat is primarily used in bakery products, pasta, and as a meat substitute. Additionally, according to the calculations in 2023, pea was easy to identify as a rapidly growing plant protein source, and it constituted about 15% of the market in 2023. The high protein content, hypoallergenic properties, and neutral taste properties of hydrolyzed plant proteins derived from peas have been the strong drivers of the market growth.Hence, peas take a prominent role in the production of plant-based milk, protein powders, and meat alternatives. On the other hand, the rice source segment held a market share of about 10% in 2023, as it was also overshadowed by more prevalent and desirable plant protein choices. Rice-based hydrolyzed plant proteins are attractive because of their well-balanced food quality and affordability, and they are used in rice-based drinks, protein bars, and as meat extenders. Other sources, including potato, canola, and hemp, barely reached a total share of over 10% from combining all other plant protein sources.These products offer unique nutritional and practical characteristics for specific v consumers or applications. For example, their industrial uses include primarily the production of sports nutrition and active foods.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Hydrolyzed Plant Protein Market Application Insights
The application segment of the Hydrolyzed Plant Protein Market holds significant importance, influencing the overall market growth. The prominent applications of hydrolyzed plant protein include Food Beverages, Pharmaceuticals Nutraceuticals, Personal Care, and Animal Feed. Food Beverages The largest application segment, accounting for over 50% of the Hydrolyzed Plant Protein Market revenue, is driven by the rising demand for plant-based food and beverage products. Hydrolyzed plant proteins enhance nutritional value, texture, and flavor.
Hydrolyzed plant proteins are gaining traction in the pharmaceuticals and nutraceuticals industry due to their hypoallergenic properties and potential health benefits. They are used in dietary supplements, sports nutrition products, and medical foods.
The personal care segment is witnessing steady growth, with hydrolyzed plant proteins finding applications in skincare, hair care, and cosmetic products. Their moisturizing, and anti-aging properties contribute to their popularity.
Hydrolyzed plant proteins are increasingly used in animal feed, particularly for poultry and livestock.They provide essential amino acids and improve feed efficiency, supporting animal growth and health. The Hydrolyzed Plant Protein Market is witnessing robust growth, driven by the increasing demand for plant-based products and the rising awareness of their health benefits. The market is expected to continue its upward trajectory, with the application segment playing a crucial role in shaping its growth.
Hydrolyzed Plant Protein Market Form Insights
The Hydrolyzed Plant Protein Market segmentation by Form offers valuable insights into market dynamics. In 2023, the Powder segment held the dominant share, accounting for around 60% of the market revenue. This dominance is attributed to its ease of handling, storage, and transportation, making it suitable for various applications in food and beverage products. The Liquid segment is projected to witness the fastest growth during the forecast period, owing to its increasing use in nutritional beverages, sports drinks, and dietary supplements.The Other segment includes forms such as Granules and Concentrates, which cater to specific applications in the food industry. Overall, the Hydrolyzed Plant Protein Market is poised for significant growth in the coming years, driven by rising consumer demand for plant-based protein sources and growing awareness of their health benefits.
Hydrolyzed Plant Protein Market Regional Insights
The Hydrolyzed Plant Protein Market segmentation by region consists of North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. In 2023, North America dominated the market with a share of 38.5%, and it is expected to maintain its dominance throughout the forecast period. The growth of the regional market can be attributed to the increasing demand for plant-based protein in the region. Europe is the second-largest market for hydrolyzed plant protein, with a share of 29.4% in 2023. The growth of the regional market is driven by the rising awareness of the health benefits of plant-based protein and the increasing demand for convenience food products.The Asia-Pacific region is expected to be the fastest-growing market for hydrolyzed plant protein, with a CAGR of 8.3% during the forecast period. The growth of the regional market is driven by the increasing demand for plant-based protein in the region, particularly in China and India. The South American market for hydrolyzed plant protein is expected to register a CAGR of 6.5% during the forecast period. The growth of the regional market is driven by the increasing demand for plant-based protein in the region, particularly in Brazil and Argentina.The Middle East and Africa market for hydrolyzed plant protein is expected to register a CAGR of 5.8% during the forecast period. The growth of the regional market is driven by the increasing demand for plant-based protein in the region, particularly in Saudi Arabia and the United Arab Emirates.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Hydrolyzed Plant Protein Market Key Players And Competitive Insights
The Hydrolyzed Plant Protein Market industry's major players are involved in research and development activities in order to introduce new, feasible and innovative products as a part of their strategic expansion. Leading Hydrolyzed Plant Protein Market companies are expanding their product portfolio to include new flavors, textures, and functionality that cater to a broad array of taste and nutrition requirements. The leading driving force of Hydrolyzed Plant Protein Market growth is the shift toward the plant-based protein variants which have become a quintessential salient aspect for the health-conscious individuals surviving in the contemporary century. Both large and small companies have been engaged in the Hydrolyzed Plan Protein Market industry and have been very competitive in production and sales. Archer Daniels Midland Company is one of the leading providers of plant-based proteins and ingredients. It has a broad portfolio of hydrolyzed plant proteins that can be derived from soy, wheat, or pea. ADM's Hydrolyzed Plant Protein Market segment serves customers in the food and beverage, nutrition, and personal care industries. The company has a well-established distribution network and presence that address the growing demand for hydrolyzed plant protein in the market. In
Ingredion Incorporated is another company that plays a significant role in the Hydrolyzed Plant Protein Market industry. Ingredion offers a comprehensive range of plant-based proteins and hydrolyzed plant proteins under its NOVATION brand. Ingredion's hydrolyzed plant proteins are derived from proteins such as soy, pea, and rice. Its major customer targets are the stakeholders in the food and beverage, nutrition, and pet food industries. Through its customer orientation approach, Ingredion has been thriving in the Hydrolyzed Plant Protein Market industry.
Key Companies in the Hydrolyzed Plant Protein Market Include
Hydrolyzed Plant Protein Market Industry Developments
The hydrolyzed plant protein market is projected to reach USD 3.5 billion by 2032, exhibiting a CAGR of 7.3% during the forecast period. Rising demand for plant-based protein supplements, increasing awareness of the health benefits of hydrolyzed plant proteins, and growing adoption in various food and beverage applications are key factors driving market growth.Recent developments include the launch of new hydrolyzed plant protein products by major players such as ADM and DuPont. Additionally, strategic partnerships and acquisitions are being witnessed in the market. For instance, in 2023, Ingredion Incorporated announced a partnership with Axiom Foods to expand its plant-based protein portfolio. Such collaborations are expected to accelerate innovation and product development in the hydrolyzed plant protein market.
Hydrolyzed Plant Protein Market Segmentation Insights
Hydrolyzed Plant Protein Market Source Outlook
Hydrolyzed Plant Protein Market Application Outlook
Hydrolyzed Plant Protein Market Form Outlook
Hydrolyzed Plant Protein Market Regional Outlook
North America
Europe
South America
Asia-Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 1.73(USD Billion) |
| Market Size 2023 | 1.86(USD Billion) |
| Market Size 2032 | 3.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 7.3% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2022 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | The Green Labs LLC, Kerry Group, Cargill, DuPont, Tate Lyle PLC, Axiom Foods, Inc, Lonza Group, Prinova Group LLC, The Nisshin Oillio Group, Ltd., ADM, Koninklijke DSM N.V., Watson Foods International, Ingredion Incorporated |
| Segments Covered | Source, Application, Form, Regional |
| Key Market Opportunities | Growing vegan population, Increasing demand for plant-based protein, Expansion in the food and beverage industry, Technological advancements, Rising awareness about health benefits |
| Key Market Dynamics | Increased health consciousness, Growing demand for vegan protein, Advancements in food technology, Rising disposable income, Expanding application in diverse industries |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Hydrolyzed Plant Protein Market is expected to reach a valuation of USD 3.5 billion by 2032, expanding at a CAGR of 7.3% from 2024 to 2032.
North America is anticipated to lead the Hydrolyzed Plant Protein Market over the forecast period, owing to the increasing demand for plant-based products and the presence of major market players in the region.
The major application segments of the Hydrolyzed Plant Protein Market include sports nutrition, functional foods and beverages, dietary supplements, and animal feed, among others.
Archer Daniels Midland Company, Cargill, Incorporated, DuPont, Ingredion Incorporated, and Kerry Group plc are some of the prominent players operating in the Hydrolyzed Plant Protein Market.
Rising health consciousness, growing vegan population, increasing demand for plant-based protein sources, and technological advancements in the production of hydrolyzed plant proteins are key factors propelling market expansion.
The Hydrolyzed Plant Protein Market is projected to exhibit a CAGR of 7.3% between 2024 and 2032.
Challenges include price volatility of raw materials, stringent regulatory requirements, and competition from animal-based protein sources.
Opportunities lie in the expansion of the vegan population, growing demand for clean-label products, and technological advancements in the production of hydrolyzed plant proteins.
Sustainability is becoming increasingly important in the Hydrolyzed Plant Protein Market, with consumers seeking plant-based protein sources that are produced in an environmentally friendly manner.
Key trends include the rise of personalized nutrition, clean-label formulations, and the development of novel plant-based protein sources.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.Â
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