Rising Application of Wheat Protein in Several End-User Industries is Fueling the Market Growth
Wheat proteins are defined as plant-based proteins which are mainly extracted by processing wheat using different enzymes. These proteins are a type of insoluble functional protein which possesses unique visco-elastic characteristics and offer elasticity and extensibility to the product. They are considered as a viable alternative for animal-based protein and are widely used across several end use application such as bakery & confectionary, animal feed, nutrition supplements, cosmetics & personal care and others. The growing number of vegan population along with rise in demand for plant sourced foods, is driving the global wheat protein market.
North America holds the largest share in the global wheat protein market. The largest market share of the North American region is primarily attributed to changes in lifestyle patterns of consumers and preference toward convenience food items. Additionally, changing food habits and rising number of vegan population in developed countries such as the US and Canada has led to a surged the demand for wheat protein. Wheat proteins are widely used in preparation of bakery and confectionery items, beverages and dairy products. Further, presence of strong manufacturing base for wheat proteins along with increased focus over research and development activities is further expected to expand the growth of the market in the region. The Asia Pacific region is projected to grow at a faster pace over the forecast period. Factors such as an increase in disposable income with better lifestyles are the major driving factors for wheat protein in the Asia Pacific region. Further, the increased consumption of the bakery and food industry are continuously introducing new variants of wheat proteins in the market, to satisfy the growing need of consumers, supporting the growth of the wheat protein market.
Increasing health consciousness among consumers, growing vegan population, and extensive research towards development of lower gluten content wheat are a few of the major factors attributing to the expansion of wheat-based protein product in the global market. Growing demand for plant-based food coupled with rising consumer interest in boosting protein intake is the key factors boosting the demand for wheat protein globally. Wheat protein is commercially used as a functional ingredient in various food products such as bakery products such as biscuits, bread, and cakes, breakfast products, cereals and bards, pasta, and other healthy snacks. Therefore, the rising demand for functional food in developed countries is boosting the growth of wheat protein in the food application.
The bakery and snacks segment is expected to lead the wheat protein market, whereas the pet food segment is expected to grow at a rapid pace. The trend of veganism and clean label products is pushing manufacturers of food products to shift towards plant-based protein, which is anticipated to push market growth at a higher pace. Moreover, demand for wheat food is expected to increase exponentially in the pet food segment as adopting pets is growing with the rising geriatric population in Asian countries such as China and Japan. Increasing inclination of consumers towards meat-free is the key factor that anticipated to push the market growth of wheat protein over the forecast period. Wheat protein holds an important position in the food and beverage industry due to its numerous functions, including structure enhancement, tenderizing, dough conditioning, adhesion, aeration, whipping, foaming, and film formation. However, high cost, limited supply, and allergies associated with wheat are projected to hamper the growth over the forecast period.