The demand for cost-effective plant-based protein has increased substantially in recent years, owing to their potential nutritional applications. Hydrolyzed plant proteins are emerging as a cost-effective alternative to animal-based proteins. Increasing awareness about hydrolyzed plant protein uses and their health benefits are supporting the growth of the global hydrolyzed plant protein market.
Hydrolyzed plant proteins are sourced from wheat, peas, soybean, and others, and used as an anti-hypertensive in many functional foods ingredient. The consumption of hydrolyzed plant proteins helps reduce the intake of saturated fat, which lessens the risk of cardiovascular diseases, and they are also more effective in lowering blood cholesterol levels.
These proteins are more beneficial to individuals experiencing high fasting cholesterol absorption, when compared to other animal-based proteins.
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Hydrolyzed Plant Protein Market Trends
Drift Toward Plant-based Food Products - The perception about healthy eating is changing across the world. Consumers are striving to meet the recommended dietary allowance of proteins to stay healthy. Their concerns about the protein source and the amount of proteins they are consuming are differentiating factors.
Owing to a rise in the awareness about the health benefits associated with the consumption of meat alternatives, consumers are now switching to vegan diets. Health, environment, and animal welfare are some of the key concerns behind changing consumer habits and increasing number of consumers opting for plant-based food products.
Consumers are leaning more toward plant-based proteins as they are seeking allergen-free protein sources. This increased desire for plant-based diets and the nutritional quotient of these proteins are dual forces driving the growth of the hydrolyzed plant-based protein market size.
Rise of Vegan Culture and Flexitarian Diet - Key manufacturers in the protein industry are shifting their focus toward various alternatives (plant-based proteins), such as hydrolyzed plant protein, to adapt to the change in protein trends.
Food ingredient manufacturing companies have also shown strong interest in improving their market presence by emphasizing on plant-based ingredients, owing to an increase in the number of vegans, vegetarians, and flexitarians across the world, especially in the U.S. and Western European countries.
This increasing demand for plant-based food ingredients and the various health benefits of vegan diets are driving the demand for plant protein in these regions. As such, the hydrolyzed plant-based protein market is set to witness decent growth over the forecast period of 2020 to 2030.
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Regional Outlook of Global Hydrolyzed Plant Protein Market
The global hydrolyzed plant protein market space is dominated by established markets such as North America and Europe. Together, these regions hold more than 60% of the global hydrolyzed plant protein market share.
The trend of veganism and vegan diets is aiding the growth of the hydrolyzed plant protein market in these regions. North America and Europe also have the highest number of key manufacturers in the hydrolyzed plant protein market.
South Asia and East Asia are witnessing fast growth in the global hydrolyzed plant protein market, owing to the increasing adoption of plant-based diets and plant-based proteins by consumers.
Rising awareness about the health benefits of hydrolyzed plant proteins, coupled with increasing usage in cosmetics and personal care products, is boosting the growth of the hydrolyzed plant protein in these regions.
Emerging economies from South Asia and East Asia, such as China, India, South Korea, and others, are the next potential markets for manufacturers in the global hydrolyzed plant protein market.
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COVID-19 Impact on Hydrolyzed Plant Protein Market
Many major economies are facing various challenges due to the ongoing global COVID-19pandemic. Major producers of soy, wheat, and rice are taking appropriate measures for reaching the optimum output of crops during these tough times.
Industrial production of hydrolyzed plant protein has already been put on hold or running at low production capacity in many countries due to the pandemic. Manufacturers in the hydrolyzed plant protein market will face various challenges until the situation starts normalizing in leading producing countries.
In addition, due to supply chain disruptions, end users of hydrolyzed plant protein are also facing issues, and there is need to balance out the supply and demand soon.
The aftermath of this pandemic will positively affect the global hydrolyzed plant protein market, as the demand for cost-effective plant-based protein is anticipated to increase so as to boost immune health to combat viral diseases.
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The global hydrolyzed plant protein is projected to witness substantial growth over the forecast period of 2020-2030. North America, Europe, and East Asia are the dominating regions in the global hydrolyzed plant protein market. Increasing demand for plant-based food and plant-based ingredients in the food & beverage industry is boosting the demand for hydrolyzed plant protein. Key players in the global hydrolyzed plant protein market will encounter lucrative opportunities by targeting South Asia and East Asia, which are among the fastest-growing regional hydrolyzed plant protein markets.
Key Segments of Global Hydrolyzed Plant Protein Market
PMR’s report on the global hydrolyzed plant protein market offers information divided into four segments - source, form, application, and region.
Key Questions Answered in PMR’s Global Hydrolyzed Plant Protein Market
- Which region will hold the highest market share in the global hydrolyzed plant protein market during the forecast period?
- Which region is experiencing the highest growth (CAGR)?
- Which factors are impacting the global hydrolyzed plant protein market?
- What are the global trends impacting the hydrolyzed plant protein market?
- What strategies must be emerging players adopt to capture opportunities in various regions in the hydrolyzed plant protein market?
- What is the market structure of the global hydrolyzed plant protein market?