The Business Research Company’s Hydrolyzed Vegetable Proteins Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Hydrolyzed Vegetable Proteins Global Market Report 2023 evaluates hydrolyzed vegetable proteins market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global hydrolyzed vegetable proteins market is expected to grow from $1.42 billion in 2022 to $1.53 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hydrolyzed vegetable proteins market is expected to reach $2.03 billion in 2027 at a CAGR of 7.3%.
The growing popularity of vegetarian and vegan diets is expected to propel the growth of the hydrolyzed vegetable protein market going forward. Vegetarian and vegan diets refer to different variations of vegetarianism in which no food of animal origin is consumed. Hydrolyzed vegetable protein, derived from plant sources, serves as a versatile and sustainable option for meeting the protein needs of vegetarian and vegan consumers. For instance, in April 2023, according to a report published by The Plant-Based Foods Association, a US-based trade association representing the plant-based food industry, plant-based foods accounted for $8 billion in U.S. retail sales in 2022, representing an increase of approximately 6.67% from $7.5 billion in 2021. Therefore, the growing popularity of vegetarian and vegan diets is driving the growth of the hydrolyzed vegetable protein market.
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The hydrolyzed vegetable proteins market segments in the report are:
1) By Source: Soy, Wheat, Corn, Pea, Other Sources
2) By Form: Dry Powder, Liquid
3) By Function: Flavoring Agent, Emulsifying Agent, Other Functions
4) By Application: Bakery And Confectionary, Processed Food Products, Meat Substitutes, Beverages, Other Applications
The table of contents in TBRC’s hydrolyzed vegetable proteins market report includes:
- Executive Summary
- Hydrolyzed Vegetable Proteins Market Characteristics
- Hydrolyzed Vegetable Proteins Market Trends And Strategies
- Hydrolyzed Vegetable Proteins Market – Macro Economic Scenario
- Hydrolyzed Vegetable Proteins Market Segmentation.
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- Global Hydrolyzed Vegetable Proteins Market Competitive Benchmarking
- Global Hydrolyzed Vegetable Proteins Market Competitive Dashboard
- Key Mergers And Acquisitions In The Hydrolyzed Vegetable Proteins Market
- Hydrolyzed Vegetable Proteins Market Future Outlook and Potential Analysis
- Appendix
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