The global wheat protein market was valued at US$ 2,001. 92 million in 2018 and is expected to grow at a CAGR of 5. 4% from 2019 to 2027 to reach US$ 3,197. 21 million by 2027. Wheat proteins are defined as plant-based proteins which are mainly extracted by processing wheat using different enzymes.
New York, March 18, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wheat Protein Market to 2027 - Global Analysis and Forecasts By Product ; Application ; Form ," - https://www.reportlinker.com/p05875926/?utm_source=GNW
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 applications such as bakery & confectionary, animal feed, nutrition supplements, cosmetics & personal care and others.On the basis of product, the wheat protein market is categorized into wheat gluten, wheat protein isolates, textured wheat protein and hydrolysed wheat protein.
In 2018, the wheat gluten segment dominated the market.Wheat protein are increasingly used in the bakery industry as they provide high moisture content, better absorption of water and offers softness in the final product.
With the shift in consumer eating habits along with the growing demand for bakery and snacks items, the demand for wheat protein has substantially increased, which is further influencing the growth of wheat protein market globally.
The global wheat protein market is bifurcated based on the basis of application into bakery & snacks, pet food, nutritional bars & drinks, processed meat, meat analogs, and others.Among all the segments, bakery & confectionary segment has led the wheat protein market in 2018.
Several types of bakery products are popular amongst consumers, including rolls, bread, cookies, pastries, pies, and a muffin.These products are commonly prepared from meal or flour derived from some form of grain.
Greater demand for indulgence foods and increasing health consciousness among consumers are some of the key factors that are influencing the market growth of bakery and snacks.Wheat protein is an essential source of high-protein, low-carb, and high-fiber; these qualities are crucial for manufacturing bakery and snack products.
This increasing demand for wheat protein in the bakery and snacks industry and trend of clean label is creating lucrative opportunities for the manufacturers operating in the wheat protein market globally.
Demand for wheat protein for exercise recovery aid is propelling the market growth.Demand for wheat proteins among health enthusiasts has increased significantly in the recent years.
Also, the trend of veganism have been fueling the demand for wheat protein in various exercise recovery aid and related products.There are significant opportunities for manufacturers operating in the wheat protein market to increase their revenue by innovating wheat protein ingredients for the health and wellness segment.
Manufacturers are focusing on tapping opportunities owing to the growing demand for ergogenic and exercise recovery aids, and looking for a plant-based protein substitutes that deliver high glutamine content. Offering wheat protein in sports beverages, and nutritional and protein drink powder mixes is likely to create lucrative opportunities for the manufacturers operating in the wheat protein market.
Among all five regions, North America has led the wheat protein market in 2018.Consumers in the US and Canada are shifting their preferences toward a healthy lifestyle and prefer products that provide health benefits.
Therefore, increasing health concerns among consumers drives the growth of the wheat protein market in North America.Wheat is a significant agricultural commodity in North America and across the globe.
Also, wheat protein product manufacturing companies in North America are continuously enhancing their product portfolio to meet the customers’ demand. A few key players offering wheat protein products in North America are Cargill Incorporated, MGP Ingredients, Inc., Archer Daniels Midland Company, and others. In addition, the rising prevalence of chronic diseases has led to an increased demand for plant protein like wheat and oat proteins. Wheat protein is widely being used in sports and energy drinks, as it helps in enhancing the power, strength, and physical performance of the athlete. These factors are influencing the market growth of wheat protein in North America. The growing cosmetics industry also acts as a major driver of the wheat protein market in North America, since most of the cosmetics industries are using wheat in preparation of hair conditioners, moisturizers, and shampoo.
Some of the players present in global Wheat protein market are 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, Tereos Group, and among others.
The overall global wheat protein market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Wheat protein market.
Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Wheat protein market.
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