Persistence Market Research published a report titled Wheat Protein Market: Global Industry Analysis 2014 – 2018 and Opportunity Assessment 2019 – 2029, which projects that the wheat protein market is expected to reach approximately US$ 2,800 Mn by the end of 2019 in terms of value, and is forecasted to reach approximate US$ 4,000 Mn by the end of 2029.
Consumer Shift towards Plant-Based Protein Products Is Increasing, Which Is Beneficial for the Wheat Protein Market
Consumers are seeking high, as well as good sources of protein to balance their diets as they have become more aware of health benefits of protein. Plant-based proteins such as soy, wheat, pulse, chia, and rice are vital protein sources used to maintain the strength of muscles and other tissues, as well as offer additional nutrition benefits. Moreover, other than nutrition, taste is an added advantage of plant-based protein. Hence, consumers are preferring it. In addition, animal cruelty and sustainability are other factors creating a demand for plant-based protein products across the world. These factors are expected to accelerate the growth of the wheat protein market.
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At present, plant-based food and protein have become one of the most increasingly consumed foods around the world, especially in North America and Europe. These are also beneficial as per the environment perspective, for example, wheat protein releases the lowest GHC emission among all animal- and plant-based proteins, which is an added advantage of wheat protein. Sustainability and environment issues are trending and important issues at present, sustainable food consumption is an integral part of it. Varieties of plant-based proteins, especially wheat protein, are more in demand to fulfill the need of environment-friendly food consumption. Thus, consumer shift towards plant-based protein is creating more demand for wheat protein and escalating the wheat protein market.
Organic Food Consumption Is the New Trend, Which Is Positively Impacting the Wheat Protein Market
Organic food consumption is trending in the food and beverages industry from the last decade. Growing consumer health consciousness is increasing the demand for more fresh and organic food with additional nutrition benefits. Food manufacturers are producing both organic and conventional types of food products to meet the demands of organic food consumers. Organic wheat farming has created a new product segment in wheat protein, organic wheat protein, which is especially utilized to make several high protein and organic food products. Moreover, the percentage of consumers who opt for organic food is growing, which also implies high demand for organic wheat and organic wheat protein. Thus, the organic movement is expected to grow at a high rate in the future and escalate the consumption of organic wheat protein.
By Application, the Food Segment Is Expected to Remain Prominent
By application, the food segment is leading in the global wheat protein market. Wheat protein is being continuously utilized in variety of food applications such as bakery, processed food, sauces, and others. Wheat gluten and wheat protein isolate are used as ingredients in different food applications. Growing consumption of bakery products and processed food is driving the demand of wheat protein across the world. Apart from that, wheat protein is also used as meat replacer or analogue, which is an additional advantage for wheat protein due to the increasing consumption of meat replacing products. Wheat protein improves the taste and texture of finished food products, which is influencing the demand for wheat protein in various food applications.
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The key market players included in the wheat protein market report are Tereos, Roquette Frères, Cargill, Archer Daniels Midland Company, MGP, Kröner-Stärke, Manildra Group USA, Meelunie B.V, Royal Ingredients Group, BENEO, Bryan W Nash & Sons Ltd, Dutch Organic International Trade, Aminola, Costantino & C. spa, Sacchetto SpA, GC Ingredients Inc., AminoSib, Glico Nutrition Co., Ltd., KELISEMA, and Blattmann Schweiz AG.
