Global Hydrolyzed Vegetable Protein Market Revenue Grows at a CAGR of 6.23%

Introduction

Straits Research published report, “Hydrolyzed Vegetable Protein Market, 2026-2034”. According to the study, the market size is valued at USD 2.37 billion in 2025 and is projected to expand to USD 4.04 billion by 2034, registering a CAGR of 6.23%.

Market Dynamics

The global hydrolyzed vegetable protein market is driven by rising health awareness and the growing preference for plant-based protein sources. Increasing vegan and vegetarian populations, coupled with the expansion of the food processing industry, are fueling product demand. Opportunities lie in innovative extraction technologies that enhance flavor and sustainability, along with expanding applications in functional foods and personal care formulations. The market also benefits from the trend toward natural, label-friendly ingredients in packaged and ready-to-eat products.

However, the high production cost of HVP remains a key restraint in its widespread adoption. The enzymatic hydrolysis process, which ensures better flavor quality and nutritional value, involves expensive enzymes, advanced equipment, and energy-intensive operations. Moreover, sourcing high-quality raw materials like soy, wheat, or peas further adds to overall manufacturing expenses. Compared to conventional flavor enhancers such as MSG, HVP production is costlier, making it less accessible to price-sensitive market.

Market Highlights

• Source Insights: Soy-based segment dominates the market with over 45% share, driven by its superior amino acid composition and versatile functionality in savory snacks, soups, sauces, and meat analogs.
• Function Insights: Emulsifying agents are the fastest-growing functional category, advancing at a CAGR of 6.93% due to their expanding role in bakery fillings, dressings, and plant-based dairy substitutes.
• Applications Insights: Processed food products account for the dominant 35% share of the HVP market, fueled by the global rise in convenience food consumption.
• Distribution Channel Insights: Online retailis the fastest-growing distribution channel, expanding at a CAGR of 8.24%, as digital platforms increasingly cater to food manufacturers, restaurants, and small-scale nutrition brands.
• Regional Insights: The Asia-Pacific hydrolyzed vegetable protein market is dominant with a market share of over 40%, driven by rising demand for processed foods, instant seasonings, and plant-based protein alternatives.

Competitive Players

1. Ajinomoto Co., Inc.
2. Kerry Group plc
3. Sensient Technologies Corporation
4. Titan Biotech
5. Foodchem International Corporation
6. Roquette Frères
7. Cargill, Incorporated
8. Tate & Lyle plc
9. Archer Daniels Midland Company (ADM)
10. Griffith Foods
11. Koninklijke DSM N.V. (DSM)
12. Givaudan SA
13. Symrise AG
14. Jones-Hamilton Co.
15. Aipu Food Industry Co., Ltd.
16. Glanbia Plc.
17. Puris Proteins LLC
18. Wilmar International Limited
19. Bunge Limited
20. Caremoli SPA

Recent Developments

• October 2025 - Griffith Foods launched Versaterra™, a new plant-based protein platform aimed at advanced flavor, functionality, and sustainability for food manufacturers. The company’s alternative protein solutions emphasize versatile HVP use in new food applications.

Segmentation

1. By Source
   1. Soy
   2. Wheat
   3. Corn
   4. Pea
   5. Others
2. By Function
   1. Flavoring Agent
   2. Emulsifying Agent
   3. Others
3. By Applications
   1. Bakery & Confectionary
   2. Processed Food Products
   3. Meat Substitutes
   4. Beverages
   5. Others
4. By Distribution Channel
   1. Business-to-Business (B2B)
   2. Business-to-Consumer (B2C)
   3. Supermarkets/Hypermarkets
   4. Online Retail
   5. Specialty Stores
   6. Others
5. By Regions
   1. North America
   2. Europe
   3. Asia-Pacific
   4. Latin America
   5. The Middle East and Africa