Global Wheat Protein Market: Size, Share, Growth, Analysis & Demand 2021-2027
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Global Wheat Protein Market Overview:
The global wheat protein market is growing due to increased demand for vegan food products. For the last few years, companies are promoting the nutritional profiles of various wheat protein products along with their health benefits on social media and health magazines which has enhanced the knowledge and awareness about the functional properties of wheat protein. Moreover, the high nutritive value of wheat protein is propelling the market demand among the health-conscious population.
Wheat protein is more cost-effective than animal protein which is gaining traction among consumers globally. North America and Europe are the major consumers of wheat protein followed by the Asia Pacific region. Additionally, an increase in the demand for overall health and wellness products with protein-rich foods and beverages is driving higher demand for wheat protein. Furthermore, shifting consumer preference towards vegan food ingredients, advancement in processing methods & technologies, and high opportunities in developing countries is positively supporting the growth of the global wheat protein market.
However, wheat protein has been facing challenges due to the high availability of economical alternatives such as animal and dairy protein ingredients. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has boosted the share of wheat protein in the global market. The global wheat protein market is expected to grow at a CAGR of 4.9% during the forecast period, 2017-2023.
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The global wheat protein market is segmented into type, form, and application.
Based on the type, it is segmented into wheat gluten, wheat protein isolate, textured wheat protein, and others. Among all the types, the wheat gluten segment is dominating the market.
Based on the form, the wheat protein market is segmented into dry and liquid. The dry form segment is dominating the market owing to better stability and high shelf-life.
Based on the application, the wheat protein market is segmented into bakery and confectionery, snacks, nutritional bars & drinks, processed meat, pet food, and others. The bakery and confectionary segments are dominating the market.
The major players in the wheat protein market
- Cargill Inc. (U.S.)
- Roquette Freres S.A. (France)
- Archer-Daniels-Midland Company (U.S.)
- Manildra Group (Australia)
- MGP Ingredients, Inc. (U.S.)
- Tereos SA (France)
- Permolex International, L.P. (Canada)
- Crespel & Deiters GmbH & Co. KG (Germany)
- Hermann Kroener GmbH (Germany)
- Chapter SA (France)
The global wheat protein market is segmented into North America, Europe, Asia Pacific, and the rest of the world (RoW). The North American region is dominating the wheat protein market followed by Europe owing to increasing demand for high protein food and beverage products. Canada is projected to be the major market in terms of product innovation related to wheat protein.
Furthermore, the Asia Pacific region is projected to grow the fastest among all the regions over the forecast period. India and China are among the largest consumer of wheat protein in the world, this supports the growth of the wheat protein market in the region.
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