PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400987
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400987
Asia Pacific Plant Protein Hydrolysate Market size was valued at USD 175 Million in 2022, expanding at a CAGR of 6.2% from 2023 to 2030.
Protein hydrolysates are highly bioavailable and can aid in muscle building and recovery, they are frequently used as ingredients in sports drinks, protein bars, and supplements. Customers that take their fitness seriously view protein hydrolysates favorably and are aware of their advantages. This is making the components of protein hydrolysate more widely known and are in great demand.
Plant Protein Hydrolysate Market- Market Dynamics
Increasing demand for processed food and nutrition enhancement are expected to propel market demand
The increased popularity of sports nutrition products and public knowledge of the health advantages of protein have resulted in an increase in demand for protein hydrolysates in recent years. It is also motivated by the growing need for baby nutrition because it improves overall nutrition, lowers the risk of allergies, and improves the digestibility of protein. Compared to milk protein isolates, hydrolyzed milk protein digests more quickly. Manufacturers of baby food use hydrolyzed milk protein the most because of its simple digestion. As a result, the market is growing due in part to the nutraceutical sectors' rising need for hydrolyzed milk protein. Enzymes are used to hydrolyze the milk proteins, reducing their allergenicity, increasing their adsorption, and enhancing their functional characteristics.
Plant Protein Hydrolysate Market- Key Insights
As per the analysis shared by our research analyst, the Asia Pacific market is estimated to grow annually at a CAGR of around 6.2% over the forecast period (2023-2030)
Based on Source segmentation, plant segment was predicted to show maximum market share in the year 2022, cost-effectiveness and the wide availability of crops, these factors are boosting the market growth.
Based on Form segmentation, dry segment was the leading market in 2022, due to high demand for dry form products dietary supplements.
Based on Application segmentation, sports nutrition was the leading market in 2022, due to increasing demand from sports diet or nutritionary products.
Based on country, Australia held significant revenue share in 2022 mainly due to the growing demand from sports and nutritional products.
The Asia Pacific Plant Protein Hydrolysate Market is segmented on the basis of Source, Form, Application, and Region.
The market is divided into two categories based on Source: plant and animal. The plants dominate the market. The high demand from organic plant products due to health benefits is proliferating the market growth.
The market is divided into two categories based on Form: dry and liquid. The dry form dominates the market and is likely to maintain its dominance during the forecast period. The high demand for dry or powder form protein hydrolysate products is driving the market growth.
The market is divided into four categories based on Application: sports nutrition, dietary supplements, food products, and others. Sports nutrition segment held the largest share in 2022. The segment is expected to witness significant growth owing to rising awareness about plant based nutritional products among sports individuals is boosting the market growth.
Plant Protein Hydrolysate Market- Country Insights
Country wise, this market is widespread into India, China, South Korea, Japan, Australia, Thailand, Indonesia, Philippines, Malaysia, Taiwan, Vietnam, Hong Kong, New Zealand, Singapore, Myanmar, and the rest of the Asia-Pacific (APAC) region.
The Asia-Pacific plant protein hydrolysate market is highly fragmented in nature. Both domestic and international markets for protein hydrolysate, the competitors have been vying for greater market shares. Some of the leading companies in the market are Kerry Group, Fonterra Co-Operative Group Limited, Arla Foods Amba, and others. Major players use tactics to grab consumers' attention as health consciousness rises, like adding dairy ingredients with clinical claims like organic and clean label to offer new products.
In June 2021, Arla Foods introduced a new whey protein hydrolysate component called WPH Lacprodan DI-3091 in the market to expand their product portfolio.
The scope of this report covers the market by its major segments, which include as follows:
ASIA PACIFIC PLANT PROTEIN HYDROLYSATE MARKET KEY PLAYERS
Arla Foods Amba
Fonterra Co-Operative Group Limited
Ajinomoto Co., Inc.
Kerry Group Plc.
Aipu Food Industry
Titan Biotech
Cargill Inc.
DSM
Griffith Foods
ADM
MGP
Others
ASIA PACIFIC PLANT PROTEIN HYDROLYSATE MARKET, BY SOURCE
Plant
Animal
ASIA PACIFIC PLANT PROTEIN HYDROLYSATE MARKET, BY FORM
Dry
Liquid
ASIA PACIFIC PLANT PROTEIN HYDROLYSATE MARKET, BY APPLICATION
Sports nutrition
Dietary supplements
Food products
Others
ASIA PACIFIC PLANT PROTEIN HYDROLYSATE MARKET, BY REGION
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Malaysia
Taiwan
Vietnam
Hong Kong
New Zealand
Singapore
Myanmar
Rest of APAC