Rising Application of Wheat Protein in Several End-Use Industries to Escalate Wheat Protein Market Growth During 2021–2028
According to our latest market study on “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),” the market is expected to grow from US$ 4,083.05 million in 2021 to US$ 4,788.49 million by 2028; it is expected to grow at a CAGR of 2.3% from 2021 to 2028. The report highlights key driving factors and prominent market players along with their developments in the market.
Wheat proteins are plant-based proteins primarily obtained by processing wheat using different enzymes. Wheat protein offers various benefits such as low fiber content and high nutritional value, compared to counterparts including corn and barley. It is a vegetarian protein source for vegans. Thus, wheat proteins are widely used in bakery products.
Consumers' eating patterns have been drastically changed, owing to increasing westernization and growing globalization. The growth of various fast-food products is driven by the rising working population and increasing youth population. Packaged bakery and snack products are being increasingly consumed across the world. In Europe, increased health concerns and a surge in the aging population have urged consumers to opt for healthier food substitutes such as value-added baked goods. This change in consumer preference toward ready-to-eat foodstuffs has augmented the demand for bakery products, thereby influencing the growth of the wheat protein market. The growing demand for gluten concentration, owing to superior stabilizer properties, primarily in food applications, is escalating the wheat protein business development. The rising demand for bakery products such as cake, bread, rolls, and pastries is strongly supporting product utilization.
Moreover, the rapid growth of western restaurants offering baked goods across the globe is fueling the demand for bakery products, thereby creating the need for wheat protein. Also, the increasing demand for premium pet food products from developing and developed countries is one of the key driving factors for the market. As per the American Pet Products Association (APPA), about 85 million households in the US own a pet. It accounts for 67% of the total households. Moreover, rising awareness about the benefits of commercially manufactured pet food and growing concerns about pet health has led to remarkable growth in the wheat protein market globally.
The ongoing COVID-19 pandemic has negatively impacted the demand for wheat protein from bakeries and another end-use industries due to the shutdown of production units and bakeries amid the lockdown across several economies. However, as the countries are reviving their operations, the demand for wheat protein is expected to grow across the globe in the coming months. During the COVID-19 pandemic, consumers are substituting conventional ingredients with healthier alternatives, which propels the demand for plant-based protein, such as wheat protein. Further, due to the pandemic, the consumers are preferring healthy and functional bakery products. Therefore, the wheat protein market size is expected to grow during the forecast period.
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 well-established players in the wheat protein market. The market players are adopting strategies such as product developments, plant expansions, and mergers and acquisitions to expand their footprint worldwide and meet the growing demand from end users. For instance, in 2020, Loryma brand of Crespel & Deiters GmbH & Co. KG developed a new, unique recipe for vegan bratwurst. It consists of texturized Lory Tex wheat protein granules, the Lory binding system, and a matching bratwurst seasoning mix in the crisp vegan casing of the Weinheim producer, Viscofan.
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)
By product, the wheat protein market is segmented into wheat gluten, wheat protein isolates, textured wheat protein, and hydrolyzed wheat protein. Based on form, the market is bifurcated into dry and liquid. By Application, the wheat protein market is segmented into bakery & snacks, pet food, nutritional bars & drinks, processed meat, meat analogs, and others. By geography, the market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.
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