Upcoming Growth Trends in the Wheat Protein Market


Posted February 16, 2021 by supriya1234

The global wheat protein market size was valued at USD 1.95 Billion in 2016 and is projected to grow at a CAGR of 4.8% from 2017, to reach USD 2.58 Billion by 2022.

 
The global wheat protein market is estimated at USD 2.04 Billion in 2017 and is projected to reach USD 2.58 Billion by 2022, at a CAGR of 4.8% from 2017. The wheat protein market has been largely driven by the growing demand for bakery products, the increasing popularity of plant-based foods, wheat protein being a suitable alternative for non-animal protein among vegans coupled with nutritional benefits for lactose-intolerant consumers.

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On the basis of product, the market has been segmented into wheat gluten, wheat protein isolate, textured wheat protein, and hydrolyzed wheat protein. Wheat gluten dominated the global wheat protein market, in terms of both, value and volume. The wide range of functionalities of wheat gluten such as viscoelasticity, texturing, foaming, emulsification, and binding leads to its wide-scale usage in bakery products. Its role as an excellent meat alternative for consumers preferring vegetarian food products is expected to drive its demand during the forecast period. The appearance & texturing functionalities in meat products are expected to fuel the growth of textured wheat protein.

Based on application, the global market has been segmented into bakery & snacks, pet food, nutritional bars & cereals, processed meat, meat analogs, and others (dairy products, cosmetics, pasta, and noodles). The bakery & snacks segments held a dominant share in terms of both value and volume. The pet food segment is projected to grow at the highest CAGR during the forecast period. The growing expenditure on pet food products along with pet humanization in economies such as India and the US is expected to drive the wheat protein market growth in the pet food segment.

In 2017, Europe is estimated to account for the largest share of the wheat protein market. Factors such as the growing investments by major players in the bakery industry, growing trend of vegan diets, and abundant availability raw materials such as wheat in this region have boosted the demand for wheat protein products in the European market. Furthermore, increased demand for bakery items such as cakes, pastries, and cookies will also drive the demand for wheat protein in the region.

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This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as ADM (US), Cargill (US), Agrana (Austria), MGP Ingredients (US), and Manildra Group (Australia). Other players include Roquette (France), Glico Nutrition (Japan), Crespel & Deiters (Germany), Kröner-Stärke (Germany), Tereos Syral (Germany), CropEnergies (Germany), and Gluten y Almidones Industriales (Mexico).
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Issued By MarketsandMarkets
Country United States
Categories Business , Food , News
Tags Wheat Protein Market
Last Updated February 16, 2021