Wheat Protein Market Size Worth $4,788.49 Million, Globally, by 2028 at 2.3% CAGR - Exclusive Report by The Insight Partners

Wheat Protein Market Size Worth $4,788.49 Million, Globally, by 2028 at 2.3% CAGR - Exclusive Report by The Insight Partners

PR Newswire

NEW YORK, Jan. 13, 2022

The Wheat Protein Market Size is driven by increasing demand for natural and organic ingredients, rising application of wheat protein in several end-use industries, increasing demand for premium pet food products from developing and developed countries, rising demand for meat analogs and the change in consumer preference toward ready-to-eat foodstuffs has augmented the demand for bakery products.

NEW YORK, Jan. 13, 2022 /PRNewswire/ -- According to the new market research report "Wheat Protein Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Wheat Gluten, Wheat Protein Isolates, Textured Wheat Protein, and Hydrolyzed Wheat Protein), Form (Dry and Liquid), and Application (Bakery & Snacks, Pet Food, Nutritional Bars & Drinks, Processed Meat, Meat Analogs, and Others)", published by The Insight Partners, the global 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.

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Report Coverage

Details

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

Forecast Period

2021-2028

Base Year

2021

No. of Pages

174

No. Tables

83

No. of Charts & Figures

83

Historical data available

Yes

Segments covered

Product, Form, and Application

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, 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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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.

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.

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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.

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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Impact of COVID-19 Pandemic on Wheat Protein Market:

Due to the COVID-19 pandemic, many industries, such as the food & beverages, faced unprecedented challenges. However, as the economies are reviving their operations, the demand for wheat protein is expected to rise across the globe in the coming months. During the pandemic, many consumers have changed their lifestyles and have shifted from animal-based protein diet to plant-based protein diet due to numerous health and environmental concerns. As the production of plant-based protein requires less labor, most of the manufacturing companies have shifted their focus toward developing plant-based protein due to the presence of reduced labor capacity during the pandemic. Also, the pandemic has led to a surge in demand for healthy and functional bakery products, which is predicted to positively influence the wheat protein market growth during the forecast period.

Browse Adjoining Reports:

Hydrolyzed Wheat Protein Market Forecast to 2028 - COVID-19 Impact and Global Analysis By End Users (Food and Beverages, Personal Care); Distribution Channel (Offline, Online) and Geography

Organic Wheat and Wheat Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Whole Wheat, Wheat Flour, Wheat Protein, Malt, Others); Application (Bread and Bakery Products, Confectionery, Meat Analogs, Beverages, Dietary Supplements, Others); End User (Residential, Commercial) 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

Feed Binders Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Clay, Plant Gums and Starches, Gelatin, Molasses, Lignosulphonates, Hemicellulose, CMC and Other Hydrocolloids, Wheat Gluten and Middlings); Livestock (Poultry, Swine, Ruminants, Others); Source (Natural, Synthetic) and Geography

Carob Protein Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Form (Powder, Gel); Distribution Channel (B2B, B2C) and Geography

Recombinant Therapeutic Protein Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Drug Class ( Plasma Protein, Growth Factors, Fusion Proteins, Monoclonal Antibodies, Hormones, Enzyme, Coagulation Factors, Others ); Application ( Oncology, Hematology, Immunology, Endocrinology, Cardiovascular Disease, Others )

Plant-Based Protein Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Isolates, Concentrates, Protein Flour); Source (Soy, Wheat, Pea, Others); Application (Protein Beverages, Dairy Alternatives, Meat Alternatives, Protein Bars, Bakery Product, Nutrition Supplements, Sports Nutrition, Others) and Geography

Feed Plant-based Protein Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Concentrates, Isolates, Others); Source (Soy, Wheat, Pea, Others); Livestock (Ruminants, Poultry, Swine, Aquaculture, Others) and Geography

Rice Protein Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (Rice protein isolates, Rice protein concentrates, Others); Application (Sports and Energy Nutrition, Bakery and Confectionery, Meat Analogues and Extenders, Dairy Alternatives, Others); End Use Industry (Food and beverages, Pharmaceutical, Cosmetics, Animal feed) and Geography

Feed Protein Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Source (Plants, Animals); Product (Oilseed Meal, Fishmeal, Animal By-Product Meal, Others); Livestock (Poultry, Swine, Ruminants, Aquaculture, Others) and Geography

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