The Insight Partners 2022
Rising Application of Wheat Protein in Several End-Use Industries to Escalate Wheat Protein Market Growth During 2021–2028
NEW YORK, UNITED STATES, December 5, 2022 /
EINPresswire.com/ -- According to The Insight Partners 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.
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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.
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.
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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.
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.
The importance of organic food items has been understood in the wake of alarming health issues, coupled with rising consciousness about organic certifications and growing preference for high-quality food items. Nowadays, consumers are looking for natural, clean, and simple ingredients with proper labels, which could effectively convey their contents, quality, and intent of the product use. Further, they are largely dependent on organic and natural food products. For instance, the consumption of organic wheat protein has been extensively rising in diverse application sectors, such as food & beverages, and animal and aqua feed. Thus, the manufacturers of wheat protein are focusing on developing and marketing organic wheat protein.
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Wheat Protein Market to Grow at a CAGR of 2.3% to reach US$ 4,788.49 Million from 2021 to 2028