Market Trends of Protein Hydrolysate Industry
Rise in Popularity of Vegan Diet
With modified technologies, companies target consumers by producing innovative products with organoleptic properties similar to real meat. These ingredients are made with a combination of protein hydrolysate to attain the desired flavor and taste. The new compositional research and modified high-technological process are helping grow the plant-based protein hydrolysate market. Clean eating, environmental/sustainability reasons, and better treatment of animals are some factors spurring the demand. As most athletes and active consumers seek alternative products while cutting their requirement on animal protein, a load up on products made from old standbys including pea, rice, hemp, and soy, have gained importance lately. Furthermore, a set of newer unique proteins, including sacha inchi, quinoa, and water lentil are appearing with greater frequency in protein blends. Yet, their efficacy for supporting muscle building is not noticeable.
Soy protein ingredients expanded from mainstream application areas and key companies, such as Archer Daniels Midland Company, Cargill Incorporated, and IFF's (DuPont Inc.), embarked on intense mergers and acquisitions to strengthen the consolidation of the plant protein hydrolysates industry. Soy products have a long history in milk replacer formulations. Their popularity stems from their widespread availability, competitive cost, and favorable amino acid profile. Soy protein concentrate (SPC) and soy flour (SF) are the most common soy proteins used in milk replacers. Additionally, in a study conducted in 2021 by Choice Australia, 63% of participants said they thought items with the designation "plant-based" were appropriate for vegans. Plant-based foods were more frequently associated by respondents with sustainability, animal friendliness, and health, but less frequently with deliciousness or affordability. Hence, the inclination towards a vegan diet is expected to propel the market during the forecast period.
Asia-Pacific Drives Protein Hydrolysate Market
Asia-Pacific holds the largest share due to the increased demand for nutritional food among consumers. The market for protein hydrolysate ingredients is expected to grow, owing to consumer health consciousness, bolstered by the aging population and a growing desire to prevent or manage age-related health conditions through nutrition. With a growing number of vegetarian populations, plant protein hydrolysate ingredients, such as soy protein hydrolysates, hold a dominant share in the Indian market. Increasing awareness about vegan snacks, with their high nutritional profile, is one of the key factors impacting the soy protein ingredients market, including soy protein hydrolysates, in the region.
An increase in the quality of lifestyle of middle-income and lower-income families, a high rate of urbanization, and increasing health awareness would be major drivers for the growth of the protein hydrolysates market across the region. Additionally, according to data published by the Australian Sports Commission, approximately 49.1% of Australians between the ages of 18 and 24 used gyms, fitness clubs, or sports or recreation facilities in Australia during the 2022 fiscal year. The involvement rate was also high for persons in the 25 to 35 age range, but it appeared to be decreasing with age for those beyond 35. Furthermore, the ongoing fitness trend across the region is also expected to drive the market as protein hydrolysates might stimulate the synthesis of muscle protein.
