Hydrolyzed Vegetable Protein Market to Reach US$ 5,110.8 Mn by 2035, Driven by Rising Plant-Based Protein Demand and Growth in Convenience Foods | Latest Report TMR

The global hydrolyzed vegetable protein (HVP) market was valued at US$ 2,343.6 Mn in 2024 and is projected to reach US$ 5,110.8 Mn by 2035, expanding at a CAGR of 7.3% from 2025 to 2035. Market growth is primarily driven by the rising global demand for plant-based proteins and the rapid expansion of the food processing and convenience foods sector.

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Market Overview

Hydrolyzed vegetable protein is a functional food ingredient produced by hydrolyzing plant proteins into smaller, flavor-active components. It delivers a strong umami taste profile while also enhancing texture, mouthfeel, and nutritional value. Compared with conventional flavor enhancers, HVP offers deeper and more rounded savory notes, making it highly suitable for soups, sauces, snacks, seasonings, processed foods, and plant-based meat alternatives.

HVP is typically derived from soy, wheat, corn, rice, pulses, and other vegetable protein sources. The hydrolysis process improves protein digestibility by releasing free amino acids while enhancing flavor clarity. As clean-label preferences and plant-forward food formulations gain traction globally, hydrolyzed vegetable protein has evolved from a supporting ingredient into a strategic component of modern food systems.

Key Market Growth Drivers

Rising Global Demand for Plant-Based Proteins

Shifting consumer preferences toward plant-based diets-driven by health awareness, sustainability concerns, and ethical considerations-are significantly boosting demand for plant-derived protein ingredients. Consumers increasingly seek alternatives to animal proteins that provide nutritional value along with functional and sensory benefits.

Hydrolyzed vegetable protein is well positioned within this trend due to its ability to enhance umami flavor while delivering easily digestible amino acids suitable for vegetarian and flexitarian diets. As global population growth and urbanization intensify, food manufacturers are increasingly incorporating plant proteins that cater to diverse dietary preferences.

Plant-based proteins remain a cornerstone of global nutrition. According to Food and Agriculture Organization data, cereals and related plant products accounted for approximately 36% of the global protein supply in 2023, highlighting the continued dominance of vegetable proteins in human diets. This trend reinforces the role of hydrolyzed vegetable protein as a critical ingredient in global food formulations.

Growing Food Processing and Convenience Foods Sector

The global expansion of the food processing industry and increasing consumption of convenience foods are key accelerators of the hydrolyzed vegetable protein market. Urban lifestyles have fueled demand for ready-to-eat meals, instant soups, sauces, seasonings, and snack foods, all of which rely heavily on flavor-enhancing and functional ingredients.

Hydrolyzed vegetable protein plays a dual role by improving savory taste and enabling product reformulation to reduce reliance on synthetic flavor enhancers such as monosodium glutamate (MSG). This aligns with clean-label trends and evolving regulatory environments that favor natural and recognizable ingredients.

Market Challenges & Opportunities

Despite its strong growth outlook, the hydrolyzed vegetable protein market faces challenges such as fluctuations in raw material prices, allergen concerns related to soy and wheat sources, and varying regulatory frameworks across regions.

However, these challenges also present opportunities for innovation. Development of allergen-free, non-GMO, and specialty plant-based HVP formulations can unlock new consumer segments. Increasing demand for clean-label, sustainable, and plant-forward food products further enhances opportunities for market players to differentiate through product innovation and sourcing strategies.

Market Segmentation

By Vegetable

• Soy
• Wheat
• Corn
• Pea/Pulse proteins
• Mustard
• Groundnut
• Others (Rice, etc.)

By Form

• Liquid
• Powder
• Others (Paste, etc.)

By Process

• Acid Hydrolysis
• Enzymatic Hydrolysis
• Others (Combination, etc.)

By Grade

• Food Grade
• Non-food Grade

By Application

• Food & Beverages

o Soups, sauces, and dressings
o Meat products and meat analogues
o Bakery and snack foods
o Seasonings & ready meals
o Others (Functional beverages, etc.)

• Nutraceuticals & Dietary Supplements
• Personal Care & Cosmetics
• Animal Feed & Pet Food

By Distribution Channel

• Business to Business (B2B)
• Business to Consumer (B2C)

o Online Platforms
o Supermarkets/Hypermarkets
o Specialty & Gourmet Stores
o Convenience Stores
o Others (Independent Retailers, etc.)

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Regional Outlook

The Asia Pacific region leads the global hydrolyzed vegetable protein market, accounting for 35.5% of total revenue in 2024. Regional dominance is driven by a robust food processing industry, rising consumption of processed and convenience foods, and the extensive use of plant-based flavor enhancers in traditional and modern cuisines.

Rapid urbanization, changing dietary habits, and increasing health awareness across countries such as China, India, Japan, and Southeast Asian nations have fueled demand for ready-to-eat meals, seasonings, and snacks containing hydrolyzed vegetable protein. Additionally, Asia Pacific benefits from a strong agricultural base, particularly in soy, wheat, and pulses, supporting a resilient HVP supply chain.

Analysis of Key Players

• Aipu Food Industry Co., Ltd
• Ajinomoto Co., Inc.
• Angel Yeast Co., Ltd
• Archer Daniels Midland (ADM)
• Cargill Incorporated
• Foodchem International Corporation
• Givaudan SA
• Griffith Foods
• Kerry Group plc
• Nactis Flavours
• Roquette Frères
• Sensient Technologies Corporation
• Synergy Flavors
• Titan Biotech Limited
• Other Key Players

These companies compete on product quality, innovation, sourcing capabilities, and global distribution networks. Market players are focusing on clean-label formulations, specialty plant-based ingredients, and capacity expansion to meet growing global demand. Each has been evaluated in the market report based on business strategies, financial performance, product portfolios, and recent developments.

Recent Developments

• In October 2025, Griffith Foods announced the launch of Versaterra, a plant-based protein platform that includes pure, non-GMO compliant, and allergen-free formulations with a base of pulses and vegetables. As per the company's announcement, Versaterra packs a lot of nutrients while having a very mild taste. It can be kept at room temperature, and it contains no saturated fat.

• In October 2025, Ajinomoto announced a US$160 million investment to construct its third Philippine manufacturing facility in Tarlac City under PEZA supervision. Construction begins May 2026 with completion targeted for April 2028. The state-of-the-art factory will produce flavored seasonings and breading mixes, expanding Ajinomoto's regional capacity to meet growing demand across Southeast Asia.

• In December 2024, The Kerry Group has successfully completed the first stage of its transaction worth €500 Mn for the sale of Kerry Dairy Ireland to Kerry Co-operative Creameries. With this purchase of a 70% share for €350 Mn, the remaining 30% will be transferred by 2035.

Why Buy This Report?

• In-depth analysis of market size, growth trends, and forecasts through 2035
• Detailed evaluation of key growth drivers, challenges, and opportunities
• Comprehensive segmentation and regional insights
• Competitive landscape analysis with leading player profiles
• Strategic intelligence for manufacturers, investors, and food industry stakeholders

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FAQs

1. What is the current size of the hydrolyzed vegetable protein market?
The market was valued at US$ 2,343.6 Mn in 2024.

2. What is the projected growth rate of the market?
The market is expected to grow at a CAGR of 7.3% from 2025 to 2035.

3. Which region dominates the HVP market?
Asia Pacific dominates with a 35.5% revenue share.

4. Which vegetable source leads the market?
Soy-based hydrolyzed vegetable protein leads with a 45.2% market share.

5. Who are the major players in the market?
Major players include Ajinomoto, Kerry Group, Givaudan, Cargill Incorporated, and Sensient Technologies Corporation.

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