(I-BusinessNews.Com, February 04, 2020 ) The global wheat protein market is estimated at USD 2.04 Billion in 2017 and is projected to reach USD 2.58 Billion by 2022, at a CAGR of 4.8% from 2017. The wheat protein market has been largely driven by the growing demand for bakery products, the increasing popularity of plant-based foods, wheat protein being a suitable alternative for non-animal protein among vegans coupled with nutritional benefits for lactose-intolerant consumers.
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On the basis of product, the market has been segmented into wheat gluten, wheat protein isolate, textured wheat protein, and hydrolyzed wheat protein. Wheat gluten dominated the global wheat protein market, in terms of both, value and volume. The wide range of functionalities of wheat gluten such as viscoelasticity, texturing, foaming, emulsification, and binding leads to its wide-scale usage in bakery products. Its role as an excellent meat alternative for consumers preferring vegetarian food products is expected to drive its demand during the forecast period. The appearance & texturing functionalities in meat products are expected to fuel the growth of textured wheat protein.
Based on application, the global market has been segmented into bakery & snacks, pet food, nutritional bars & cereals, processed meat, meat analogs, and others (dairy products, cosmetics, pasta, and noodles). The bakery & snacks segments held a dominant share in terms of both value and volume. The pet food segment is projected to grow at the highest CAGR during the forecast period. The growing expenditure on pet food products along with pet humanization in economies such as India and the US is expected to drive the wheat protein market growth in the pet food segment.
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Europe is estimated to occupy the largest share of the global market, in terms of value, in 2017, owing to the mature wheat protein industry and the presence of major companies such as Agrana (Austria), Tereos Syral (Germany), Roquette (France), Crespel & Deiters (Germany), CropEnergies (Germany), and Kröner-Stärke (Germany). The increase in R&D for plant-based protein, the growing vegan population, new product launches, and growing investments in the bakery industry are expected to drive the wheat protein market growth in this region during the forecast period. In the Asia Pacific region, India is projected to be the fastest-growing market during the forecast period. The growing trend of pet humanization, large-scale production of wheat, growing investment by multiple brands, and government support such as FDI, farmer subsidy, and low labor cost are expected to drive the wheat protein market growth in India. Key players in Europe and the US are expected to focus on the untapped opportunity in the wheat protein market in countries such as India and China, owing to which the Asia Pacific is expected to witness high growth in the coming years.
The increasing discussion on gluten intolerance and gluten-free diets is the major factor restraining the growth of the wheat protein market, globally. The major challenges faced by wheat protein manufacturers are limited technological developments and low consumer awareness of non-soy proteins.
The market for wheat protein is dominated by key players such as ADM (US), Cargill (US), MGP Ingredients (US), Manildra Group (Australia), Agrana (Austria), Roquette (France), Tereos Syral (Germany), CropEnergies (Germany), Crespel & Deiters (Germany), Kröner-Stärke (Germany), Glico Nutrition (Japan), and Gluten y Almidones Industriales (Mexico).
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