Hydrolyzed vegetable protein (HVP) is a flavor enhancer used in processed foods. It is usually produced by acid hydrolysis of soybean, corn, or wheat, which are broken down into amino acids. HVP is also produced by enzyme hydrolysis or by alkaline treatment. It is added to food products such as soup, bouillon cubes, seasonings, spices, beef products, flavorings, veggie burgers, imitation meat products, sauces, gravy, cheese powder, and functional beverages among others. This protein is used to restore add flavor to the aforementioned food products during canning, freezing, or drying.
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Though HVP is produced chemically, manufacturers consider it to be natural flavoring as it is originally derived from vegetable products. It is also considered as the most sustainable protein ingredients. Increased disposable income and change in lifestyle leading to high demand for convenience food cause increased consumption of HVP, thus driving the market growth. Thus, increase in demand for protein-rich natural ingredients and clean-labeled food products is further expected to propel the market growth. However, monosodium glutamate (MSG) in HVPs causes health issues such as headache, sweating, facial pressure or tightness, numbness, burning in the face & neck, heart palpitations, chest pain, nausea, weakness, and others. Though the Food and Drug Administration (FDA) has not banned the use of MSG, its negative reputation among consumers may hamper the market growth. Growth in food & beverage industry in Asia-Pacific is expected to create new opportunities for the manufacturers of HVP.
The global hydrolyzed vegetable protein market segmented based on application, source, form, and geography. Based on application, it is bifurcated into food products and functional beverages. On the basis of source, it is divided into soy, rapeseed, corn, rice, pea, wheat, and others. The form segment includes dry powder, paste, and liquid. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The Major Players Profiled In This Study Include:
- Griffith Laboratories
- Ajinomoto Co., Inc.
- Kerry Group plc
- Tate & Lyle plc
- Jones-Hamilton Co.
- Diana Group
- Brolite Products Co. Inc.
- Caremoli Group
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global hydrolyzed vegetable protein market to elucidate the prevailing opportunities and potential investment pockets.
- It offers qualitative trends and quantitative analysis from 2016 to 2023 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the sources of HVP and its application.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies.
- The key players in the market are profiled and their strategies & developments are analyzed to understand the competitive outlook of the industry.
Hydrolyzed Vegetable Protein Market Key Segmentation:
- Food Products
- Prepared Soups
- Ready Meals
- Dips & Dressings
- Seasoning Mixes
- Functional Beverages
- Dry Powder
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA
- Astron Chemicals S.A.
- McRitz International Corporation
- Good Food, Inc.
- Michimoto Foods Products Co., Ltd.
- Dien Inc.
- Innova Flavors
- Unitechem Co., Ltd.