Category

Wheat Protein Market Size, Share, And Trends By Product (Wheat Gluten, Wheat Protein Isolate, Textured Wheat Protein, Hydrolyzed Wheat Protein), By Application (Bakery & Snacks, Pet Food, Nutritional Bars & Drinks, Others), By Form (Dry, Liquid), And By Geography – Forecast From 2019 To 2024

110 pages
Published on : Jul 2019
Report Code : KSI061612762

Description

The wheat protein market was valued at US$1.274 billion in 2018 and is projected to expand at a CAGR of 6.28% over the forecast period to reach US$1.836 billion by 2024. The wheat protein market is expected to witness a significant market growth driven by increased demand for meat-free diets and growing demand for plant-based protein. Due to growing health concerns, consumers are decreasing their consumption of meat to reduce fat intake. Wheat protein is a good alternative for vegans and lactose intolerant consumers. The increasing demand for bakery products is also expected to drive the market growth. But the growing number of gluten intolerant consumers is expected to be a restraint for market growth. By product, wheat gluten is expected to have a considerable market share due to its widespread usage in bakery products and its role as a meat alternative for vegans. By application, pet food is expected to have a notable growth rate due to increasing expenditure on pet food products. By geography, Europe is estimated to have a significant market share due to the presence of mature wheat protein industry and major market players. The market growth rate is also expected to be high in the region owing to the growing vegan population, new product launches and an increase in R&D investment.
 
DRIVERS
Growing demand for meat-free diet due to growing health concern
Wheat protein is a good source of protein for vegans and lactose intolerant consumers
Increase in demand for bakery products
 
RESTRAINT
The increasing number of gluten intolerant consumers
 
INDUSTRY UPDATES
In February 2019, ADM completed the acquisition of Neovia in its strategic plan to become a global leader in nutrition.
As per January 2018 update, Cargill has considered switching from corn to wheat at one of its German plants. The switch estimated to be completed by 2020 would manufacture wheat-based protein, starches and bioethanol.
To meet food manufacturers’ and consumers’ demand for added protein and simple, trusted ingredients, Manildra Group developed three clean label wheat protein isolates in July 2018
 
SEGMENTATION
The wheat protein market has been analyzed through the following segments:
 
By product
Wheat gluten
Wheat protein isolate
Textured wheat protein
Hydrolyzed wheat protein
 
By application
Bakery & Snacks
Pet food
Nutritional bars& drinks
Others
 
By form
Dry
Liquid
 
By Geography
North America
USA
Canada
Mexico
 
South America
Brazil
Argentina
Others
 
Europe
Germany
France
United Kingdom
Spain
Others
 
Middle East and Africa
Saudi Arabia
Israel
Others
 
Asia Pacific
China
Japan
South Korea
India
Others

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