The market is anticipated to account for close to US$ 1000 Mn by the end of 2027 at a CAGR of 6.0% over the forecast period.Powder & granules segment is estimated to account for little more than 50% value share in 2017 and is expected to increase to little more than 53% share in 2027 and gain 320 BPS in 2027 as compared to 2017.
Albany, NY -- (SBWIRE) -- 10/31/2017 -- The global demand for hydrolysed vegetable protein is likely to grow at a steady rate during the forecast period 2017-2027, according to a new research report added to the rich repository of Market Research Reports Search Engine (MRRSE). The report titled "Hydrolysed Vegetable Protein Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)" offers comprehensive analysis and insights on the key factors that are impacting the global hydrolysed vegetable protein market during the forecast period.
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The report offers comprehensive insights that include year by year growth forecast and analysis. The market is analyzed through several factors and a region-wise analysis is offered to readers. The key drivers and restraints that are impacting the global hydrolysed vegetable protein market have also been discussed in detail in the report.
According to the report, use of hydrolysed vegetable protein is mainly driven by its application as a flavor enhancer in a range of food products. Food manufacturers use a range of enhancers in their products and hydrolysed vegetable proteins are among the most widely used ingredients globally.
Soy remains one of the most widely used raw materials as compared to rice, wheat, and corn. It is highly likely that soy will continue to be a leading ingredient in the global market. By 2027, soy as a raw material, is likely to account for nearly 50% revenue share in the raw material category.
The end-use of hydrolysed vegetable proteins include ready-to-make food products, seasonings, pet food, soups, sauce, etc. Hydrolysed vegetable proteins also find use in hair and skin care products and the pharmaceutical sector. Among all the end-use industries, food and beverages industry accounts for the bulk of demand for hydrolysed vegetable proteins globally.
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Hydrolysed vegetable proteins are available in a variety of forms, including liquid, powder & granules, and paste. Among these, powder & granules segment is likely to remain dominant throughout the forecast period. End-users prefer hydrolysed vegetable proteins in powder & granules form, and the trend is likely to remain dominant throughout the forecast period.
North America continues to be the leading market for hydrolysed vegetable protein market globally. High demand from food & beverage manufacturers in the U.S. and Canada is likely to offer sustained growth opportunities. APEJ is another lucrative market, and as it is a volume intensive market, manufacturers usually focus on offering their products at competitive prices.
The leading players profiled in the report include Archer Daniels Midland Company Exter B.V., Givaudan SA, vKerry Group Plc., Ingredient Inc., Innova Flavors, Sensient Technologies Corporation, Dohler GmbH, Foodchem International Corporation, Tate & Lyle PLC, Symrise AG, Koninklijke DSM N.V., Takasago International Corporation, Basic Food Flavors, Inc., Angel Yeast Co., Ltd., CHS Inc., E. I. du Pont de Nemours and Company, and Firmenich SA are the key players profiled in the report.
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