Wheat Protein Market Size Worth 4,788.49 Mn by 2028 | To Grow at a CAGR of 2.3% from 2021 to 2028 Says, The Insight Partners
Wheat protein market was valued at US$ 4,083.05 million in 2021 and is projected to reach US$ 4,788.49 million by 2028; it is expected to grow at a CAGR…
Wheat protein market was valued at US$ 4,083.05 million in 2021 and is projected to reach US$ 4,788.49 million by 2028; it is expected to grow at a CAGR of 2.3% from 2021 to 2028.
New York, Dec. 20, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Wheat Protein Market Forecast to 2028 – COVID-19 Impact and Global Analysis– by Product, Form, and Application,” the increasing application of wheat protein in several end-user industries drives the market growth.
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Wheat Protein Market Report Scope & Strategic Insights:
|Market Size Value in||US$ 4,083.05 million in 2021|
|Market Size Value by||US$ 4,788.49 million by 2028|
|Growth rate||CAGR of 2.3% from 2021 to 2028|
|No. of Pages||174|
|No. of Tables||83|
|No. of Charts & Figures||83|
|Historical data available||Yes|
|Segments covered||Product, Form, and Application|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Wheat Protein Market: Competition Landscape and Key Developments
Archer Daniels Midland Company; Roquette Frères; Glico Nutrition Co.,Ltd; Kröner-Stärke GmbH; Cargill, Incorporated; Crespel & Deiters GmbH & Co. KG; CropEnergies AG; Manildra Group; MGP Ingredients Inc.; and Tereos Group are among the key players in the wheat protein market. These market players are highly focused on developing high-quality and innovative products to meet the customer’s requirements. For instance, in January 2021, the brand Loryma of Crespel & Deiters GmbH & Co. KG introduced a new concept for trendsetting vegan fish products. Functional wheat ingredients, such as starches and proteins, interact to authentically replicate the muscle meat of fish and offer a typical mouthfeel. Using a modular principle, Loryma’s ingredients enable a range of applications, such as vegan fried fish or fish fillets, and meet consumer demand for sustainable and plant-based alternatives.
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Rising Demand for Meat Analogs to Open Lucrative Growth Opportunities for Wheat Protein Manufacturers during Forecast Period
The vegan population is growing worldwide. As per the United Nations estimates, the world population in 2021 was 7.9 billion. As of January 2021, the total number of vegans globally was approximately 79 million. Meat analogs are food products produced to mimic meat products' flavor, appearance, and texture. Meat analogs are raising the interest of various consumers looking for indulgent, healthy, low environmental impact, cost-effective, ethical, and new food products. In recent years, the consumption of meat analogs has grown for varied reasons such as health concerns, personal beliefs, and social causes. Textured plant-based proteins, primarily soy, wheat, and their combinations are used to improve the mouthfeel and simulate the "original meat texture" in the meat analogs, owing to the texture generated when they are hydrated during the cooking process. The textured wheat protein offers a meat-like texture and is consequently used for partial or complete meat replacement. Textured wheat protein has an excellent neutral taste and stable, hydrated texture, making it suitable for various applications, especially meat analogs. Thus, the growing vegan population, coupled with increasing demand for meat analogs, is the key factor expected to create lucrative growth opportunities for the wheat protein market during the forecast period.
The wheat protein market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Population in India, Malaysia, and Singapore has a high standard of living and has increased their spending capacity due to the high per capita income. The quest for plant-based protein foodstuff is proliferating in the region due to the growing trend of vegetarianism and veganism. Furthermore, CIMMYT (International Maize and Wheat Improvement Center) and JIRCAS (The Japan International Research Center for Agricultural Sciences) are focused on developing and improving wheat farming systems while sustaining natural resources. Such government initiative for boosting the production capacity of wheat are expected to drive the wheat protein market growth in the region during the forecast period.
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Wheat Protein Market: Segmental Overview
By product, the wheat protein market is segmented into wheat gluten, wheat protein isolates, textured wheat protein, and hydrolyzed wheat protein. The wheat gluten segment held the largest market size in 2020. Wheat gluten adds elasticity to flours and enhances the texture and chewiness of a final product. It is also used as a protein source and binding ingredient in pet foods. Growth in vegan population and health awareness among the consumers propels the demand for wheat gluten products.
By form, the wheat protein market is bifurcated into dry and liquid. The market for the dry segment accounted for the larger share and is expected to grow at the highest rate during the forecast period. A few properties of dry wheat protein are high solubility in the water with any pH value, low viscosity, water binding and emulsifying, and acidic and thermal stability. It is increasingly used in the food industries to formulate bakeries, nutritional bars, pet food, processed meat, and meat analogs. This factor is propelling the growth of the market for the segment.
Based on application, the wheat protein market is segmented into bakery & snacks, pet food, nutritional bars & drinks, processed meat, meat analogs, and others. The pet food segment is projected to register the highest CAGR during the forecast period. There is a growing demand for wheat protein in pet feed products as it is a good protein source for pets and has several properties, such as palatability, digestibility, protein content, galactagogue effect, and fiber content. Therefore, the demand for wheat protein is expected to grow in pet feed products in the coming years.
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Browse Adjoining Reports:
Wheat Flour Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (All-Purpose Flour, Semolina and Durum Flour, Whole-Wheat Flour, Bread Flour, Others); Application (Bread, Bakery Products, Noodles and Pasta, Others); End User (Residential, Commercial ); Distribution Channel ( Supermarkets and Hypermarkets, Convenience Stores, Online, Others ), and Geography
Malted Wheat Flour Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Bakery and Confectionery, Beverages, Others) and Geography
Organic Wheat Derivatives Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Starch, Gluten, Maltodextrin, and Others) and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, Animal Feed, Personal Care, and Others)
Wheat Starch Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Native Wheat Starch and Modified Wheat Starch); Grade (Food Grade and Industrial Grade) and End User Industry (Food and Beverages, Cosmetics and Others)
Wheat Seeds Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (GM, Non-GM); Trait (Drought Tolerant, Herbicide Tolerant, Others); Seed Treatment (Treated, Untreated) and Geography
Wheat Gluten Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Form (Liquid, Powder); End Use (Whole Grain Bread, Pasta, Meat and Meat Analogue, Confectionaries, Noodles, Pet Foods, Frozen Dough, Cereals); Distribution Channel (Supermarkets, Hypermarkets, Retail Stores, Online) and Geography
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