Yahoo Finance The Global Wheat Protein Market size is expected to reach $7.8 billion by 2028, rising at a market growth of 4.7% CAGR during the forecast period
Wheat is processed with a variety of enzymes to produce wheat proteins, which are mostly derived from plants. These are insoluble functional proteins with distinct visco-elastic properties that give a finished product elasticity and extensibility.
New York, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Wheat Protein Market Size, Share & Industry Trends Analysis Report By Application, By Concentration, By Product, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412097/?utm_source=GNW
The proteins are thought to be a good substitute for animal-based protein. They are extensively employed in a variety of end-use industries, including animal feed, cosmetics and personal care, bakery and confectionery, and nutrition supplements.
The expanding popularity of plant-based diets and the rise in the number of people embracing vegan diets in developing nations are anticipated to be the main drivers of the growth of the wheat protein business. Additionally, an increasing ageing population, income levels, and rapid urbanisation are projected to stimulate product demand.
The global population has long been concerned with weight regulation, but now obesity is an epidemic on a global scale. According to the World Health Organization, the percentage of obese and overweight adults worldwide has increased by three times since 1975, to 13% and 39%, respectively. In addition, the Global Nutrition Report estimates that 45.4 million people would be wasting, 38.9 million will be overweight, and 149.2 million will be stunted by the year 2020. In order to maintain their general health and weight, people are now putting more emphasis on eating a balanced, plant-based diet, which is fueling market expansion.
COVID-19 Impact Analysis
The majority of wheat protein is consumed by the food and beverage industry, and the current COVID-19 pandemic has lowered demand for wheat protein. Dairy, bakery, and confectionery products are being delayed as a result of the epidemic causing supermarkets to reorganise their stock priorities in favour of staples and necessary supplies. The need for wheat protein is expected to soar globally in the upcoming months, nevertheless, as economies are expected to restart their activities. The COVID-19 pandemic has increased consumer demand for wholesome and useful baked goods, which is anticipated to drive the market for wheat protein to grow over the next few years.
Markey Growth Factors
Benefits For Consumers Who Are Lactose Intolerant And Concerned About Their Health And Fitness
The condition known as lactose intolerance is characterised by the body’s inability to readily digest lactose, a type of natural sugar present in milk and other dairy products. While some individuals with lactose intolerance can tolerate whey protein isolates without experiencing any negative side effects, others find that only plant-based proteins are easier to digest. These elements are increasing the market’s need for wheat protein.
Veganism is a rapidly spreading movement in the world.
The availability of more delicious alternatives than ever before is one of the reasons why more and more people are cutting back on their use of animal products. Another important element in the growth of the vegan food industry is rising public knowledge of the negative health impacts of consuming animal products as well as the negative ecological and ethical effects of animal agriculture. As a result, this aspect is causing the market for wheat protein to increase more quickly.
Market Restraining Factors
Availability Of Suitable Alternatives
Wheat protein is being replaced by plant-based proteins including rice protein, soy protein, pea protein, and other products since they all have comparable nutritional profiles and health advantages. Similar functional advantages such dough strength, moisture retention, and carving qualities are offered by all of these protein-based ingredients. The consumption for wheat protein is hampered by the preference for soy protein as an alternative to animal meat proteins. Wheat protein market growth will also be hampered by significant health advantages of gluten-free goods, including such weight loss and a lower risk of cardiovascular illnesses.
Product Outlook
Based on Product, the market is classified into wheat protein, wheat protein hydrolysate, wheat protein isolate, and wheat gluten. In 2021, the wheat gluten segment generated the largest revenue share. Wheat gluten is frequently used in bread goods because to its wide range of functions, which include viscoelasticity, texturing, foaming, binding, and emulsification. Additionally, it makes a great meat alternative for vegan and vegetarian foods. Throughout the projected period, these characteristics are anticipated to fuel segment demand.
Concentration Outlook
Based on Concentration, the market is classified into 75% concentration, 80% concentration, and 95% concentration. Given that it includes a greater density of diluted protein and is generally used in dietary supplements, 75% protein had the biggest revenue share in the market in 2021.
Application Outlook
Based on Application, the market is classified into Bakery & Confectionery, Animal Feed, Dairy, Personal Care, and Sports & Nutrition. Dairy is anticipated to grow consistently with a high CAGR in the application segment. Demand in the dairy application area has increased as a result of the high population of lactose intolerant persons. Additionally, this protein successfully substitutes lactose in products made from fermented dairy. It is regularly used as a cheap substitute for milk and is commonly seen in vegetable beverages and sweets.
Regional Outlook
Based on the geography, the market is divided into North America, Europe, Asia Pacific, and LAMEA. In 2021, North America had the biggest market share in terms of revenue. The expanding consumer knowledge of the health advantages of wheat protein and the established food processing sector are two factors that contribute to this region’s market share. The demand for products is also being fueled by an expanding vegetarian population, an increase in the consumption of bakery items, and meat substitutes.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Archer-Daniels-Midland Company, Cargill, Incorporated, Roquette Freres SA, AGRANA Beteiligungs-AG, Tereos S.A., Batory Foods, Inc., Kerry Group PLC, BENEO GmbH (Südzucker AG), Manildra Group, and Crespel & Deiters GmbH and Co. KG.
Recent Strategies Deployed in Wheat Protein Market
Acquisitions and Mergers:
May-2022: Beneo completed the acquisition of Meatless, a Netherlands-based company, primarily engaged in the production of texturized plant-based food products. The acquisition expands Beneo’s plant-based solutions product offerings and aligns with Beneo’s devotion to reinforcing its plant-based alternative solutions portfolio.
Apr-2022: Kerry acquired Natreon, a US-based company, primarily into developing ayurvedic medicines. Natreon’s ayurvedic ingredients merged into Kerry’s ProActive Health portfolio and leveraging Kerry’s vast customer network would allow Kerry to engage in the science-backed Ayurvedic ingredients market. Moreover, the acquisition aligns with Kerry’s objective to provide over two billion people with sustainable nutrition solutions.
Feb-2022: The Crespel & Deiters Group took over Extruded Cereal Products, a Netherlands-based company, primarily into producing extruded ingredients. The acquisition advances Crespel’s revenue growth in the plant-based and high-protein segment, and further expands Crespel’s product offerings.
Nov-2021: Batory Foods took over DMH Ingredients, and its sister company Naturestock. DMH Ingredients, is a US-based company, serving the food, beverage, and pharmaceutical industries. This acquisition strengthens Batory’s ability to deliver the best customer service, and further advances its ingredients portfolio. Moreover, this acquisition reinforces Batory’s position with its existing clients.
Nov-2021: ADM took over Sojaprotein, a Serbia-based company, primarily into marketing products like soybean flour, sopro mixes, soybean meal, soybean oil, etc. The acquisition strengthens ADM’s ability to service the growing demand for plant-based beverages and foods.
Jan-2021: Cargill took over ProPortion Foods, a US-based company, primarily engaged in manufacturing portion control steaks, cooked foods, and marinated ready-to-grill meats. With the acquisition, Cargill earned two protein further-processed protein facilities. Moreover, the acquisition complements Cargill’s growth strategy and aims to expand its presence in the Southern and Western U.S.
Product Launches and Expansions:
Sep-2020: ADM introduced three new plant-based protein solutions, Arcon T textured pea proteins, Prolite MeatTEX textured wheat protein, and Prolite MeatXT non-textured wheat protein. These three solutions provide better texture and density to meat alternatives.
Feb-2020: Cargill launched plant-based patty and ground products. The plant-based product offerings foster both animal and alternative protein products to cater to the increased global demand for protein.
Geographical Expansions:
Jan-2022: Kerry expanded its global footprint by opening a new 21,500-square-foot facility at Jeddah, Kingdom of Saudi Arabia (KSA). The new facility forms a part of Kerry’s devotion to expanding its presence across the Middle East. Through this new facility in Jeddah, Kerry would cash on its innovative technologies to support food and beverage companies catering to the increasing demand for tastier, healthier food and beverages.
Dec-2021: Roquette expanded its global footprint by opening a new facility in Uttarakhand, India. The new facility would cater to the market needs of multiple areas including, India, the Middle East, Africa, and Southeast Asia.
Business Expansions:
Jun-2022: Tereos expanded its business by launching a new plant-based protein brand Ensemble. Ensemble offers products with 5 major ingredients: sunflower oil, wheat, chickpeas, vegetable stock, and fibre, and the products are accessible in chicken flavored or in original version.
Scope of the Study
Market Segments covered in the Report:
By Application
• Bakery & Confectionaries
• Sports & Nutrition
• Animal Feed
• Dairy
• Personal Care
By Concentration
• 75% concentration
• 80% concentration
• 95% concentration
By Product
• Wheat Gluten
• Textured Wheat Proteins
• Wheat Protein Isolates
• Wheat Protein Hydrolysates
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Archer-Daniels-Midland Company
• Cargill, Incorporated
• Roquette Freres SA
• AGRANA Beteiligungs-AG
• Tereos S.A.
• Batory Foods, Inc.
• Kerry Group PLC
• BENEO GmbH (Südzucker AG)
• Manildra Group
• Crespel & Deiters GmbH and Co. KG
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
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