Global Hydrolyzed Plant Proteins Market: Overview
Hydrolyzed plant proteins have found use in a wide range of applications in the food and beverages industry. Most commonly, the protein is used to enhance flavor in several processed food products. Several functional characteristics are key to the growing popularity of these proteins. Proteins from oil-producing plants have excellent fat binding and emulsification properties, which are being utilized by hydrolyzing these for applications that need high fat absorption. The increased digestibility of hydrolyzed plant proteins has made it attractive for food and beverages producers, thereby underpinning the evolution of the hydrolyzed plant proteins market.
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Over the years, the hydrolyzed plant proteins market has seen new demand potential across consumers who have been increasingly adopting hypoallergenic diets. Functional food producers are utilizing the aforementioned characteristics of hydrolyzed plant proteins in imparting texture to high-protein nutrition bars.
Key types of raw materials used in the hydrolyzed plant proteins market are soy, corn, rapeseed, rice, wheat, and pea. Of these, hydrolyzed soy protein have witnessed remarkable popularity.
Global Hydrolyzed Plant Proteins Market: Key Drivers
Growing application in food and beverages industry is a key driver for the hydrolyzed plant proteins market. They have gained widespread popularity as flavor enhancer in the industry. This aside, the hydrolyzed plant proteins market is witnessing substantial prospects from the demands for proteins in cosmetics formulations, notably for hair care products and face creams. These chemicals serve as a useful skin conditioning agent. In the coming years, personal care industry in various parts of the globe will likely develop new formulations based on hydrolyzing vegetable proteins. Growing utilization of hydrolyzed plant proteins in animal feed is a notable trend bolstering the lucrativeness of the market. In this regard, hydrolyzed soy proteins have gathered large steam.
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However, over the past few years, the prospects of the hydrolyzed plant proteins market has been beset with consumers shunning products containing synthetic ingredients. This has gathered further momentum from the growing awareness of clean-labelling in food products around the world. Regardless of these headwinds, the increasing trend of veganism will impart a noticeable momentum to the hydrolyzed plant proteins market. New avenues will also come out from the usage of hydrolyzed plant proteins as easy-to-digest plant-based proteins in flexitarian diets.
Global Hydrolyzed Plant Proteins Market: Notable Developments
Various players are aiming for expanding their plant capacities to extent their foothold in key as well as emerging markets. Several players are developing new formulations that are chemically stable in several applications areas. New entrants in the hydrolyzed plant proteins market are attracting consumers from the luster of plant-based proteins in food and beverages and cosmetics. On the other hand, numerous existing players are focusing on unveiling protein hydrolysate formulas that have high safety profile to be used in infant food products. Their efforts in launching hypoallergenic infant formulas underlines this. Extensive research on protein hydrolysates functional food manufacturers also shape the strategic investments that will be made by them in the hydrolyzed plant proteins market in next few years.
Some of the well-entrenched players in hydrolyzed plant proteins market are Tate & Lyle Plc., Roquette Frères SA, Cargill Inc., Kerry Group Plc, and Archer Daniels Midland Co.
Global Hydrolyzed Plant Protein Market: Regional Assessment
Some of the key regions in the hydrolyzed plant proteins market are Europe, Asia Pacific, the Middle East and Africa, North America, and South America. Of these, Europe has shown remarkable prospect in shaping the contours of the global market. A part of this is attributed to the growing popularity of plant-based ingredients. A growing numbers of players entering plant proteins market are also creating new lucrative avenues in the region. Meanwhile, the U.S. is emerging out as a key region in the hydrolyzed plant proteins market. North America as a whole is expanding on the back of demand for plant-based protein hydrolysates in food and beverages applications.
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