The new report by Expert Market Research titled, ‘Global Wheat Protein Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global wheat protein market, assessing the market based on its segments like type, form, application and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 2.3 Billion
- Forecast CAGR (2023-2028): 5%
- Forecast Market Size (2026): USD 3.1 Billion
Wheat consumption is expected to rise as people become more health conscious. Gluten, a protein that makes up a large portion of wheat protein, can give various processed foods a smooth, moistened, and chewy texture. It serves as a binder and gives food a stretchy texture. The high water-retention capability makes the product feel light and airy therefore It is the best choice for making pasta, cookies, noodles, and pizza dough. Its ability to retain its shape is also useful in processed meats and minced seafood. And as people shift to more responsible and sustainable food sources, the wheat market has the potential to grow even more. Consumers who are turning vegetarian or vegan are searching for more plant-based protein options, posing growth prospects of wheat and wheat protein over the forecast period.
Industry Definition and Major Segments
Wheat is classified as a cereal crop. Gliadin and glutenin are two insoluble proteins contained in wheat. Gluten proteins include glutenin and gliadins, which are abundant in wheat. It aids in the extensibility and adhesion of materials, which is essential to produce noodles, dumpling wrappers, and bread, among other things. Furthermore, it imparts tenderness to the products.
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Based on type, the global wheat protein market can be segmented into:
- Wheat Gluten
By form, the global wheat protein market can be bifurcated into:
On the basis of application, the global wheat protein market can be divided into:
- Bakery and Snacks
- Animal Feed
- Processed Meat
- Nutritional Supplements
Regional market of the global wheat protein market can be divided into:
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Growing geriatric populations and changing climate conditions in China, Australia, and India have heightened concerns about skin problems, which are expected to complement personal care product demand and, as a result, boost hydrolyzed wheat protein market growth over the forecast period. Roquette, Cargill Inc., and Manildra are among the companies focusing on the lucrative opportunities in this field.
Over the forecast period, the market is expected to be driven by the industrial growth of the healthcare and cosmetics sectors in Japan, China, India, and South Korea, as well as rising domestic demand and low protein manufacturing costs compared to the United States and developed European countries.
Key Market Players
The major players in the market are Archer Daniels Midland Company, Cargill Inc., Kröner-Stärke GmbH, Roquette Frères, MGP Ingredients Inc, Manildra Group and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.