According to this latest publication from Meticulous Research®, the wheat protein market is expected to reach $9.5 billion by 2029, at a CAGR of 9.3% from 2022 to 2029. The growth of this market is driven by factors such as the increasing awareness about the benefits of nutrition and weight management, increased demand for plant-based products, and the rising demand from the food & beverage industry.
In addition, emerging economies and consumers’ growing inclination toward vegan diets are expected to provide significant growth opportunities for wheat protein manufacturers. However, the significant preference for animal-based protein, fluctuating raw material prices, and the high demand for gluten-free products are expected to hinder the growth of this market to a notable extent.
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The wheat protein market is segmented based on type, form, application, and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, the wheat protein market is segmented into vital wheat gluten, wheat protein isolates, hydrolyzed wheat protein, and textured wheat protein. In 2022, the vital wheat gluten segment is estimated to account for the largest share of the wheat protein market. The large market share of this segment is attributed to the increased usage of viral wheat gluten in different products, including confectionery, bakery, dairy, nutritional supplements, and sports supplements, due to its easy availability, high proteins & minerals content, and binding properties.
However, the hydrolyzed wheat protein segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the rising demand for plant-based dietary products and technological advancements in the personal care products sector.
Based on form, the wheat protein market is segmented into solid/dry and liquid. In 2022, the solid/dry segment is estimated to account for a larger share of the wheat protein market. The large market share of this segment is attributed to factors such as the growing demand for powdered wheat protein, ease of handling & transport, lower costs, lower chances of formulation errors, and their capability to maintain ingredient stability. This segment is also expected to grow at a higher CAGR during the forecast period.
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Based on application, the wheat protein market is segmented into food & beverage, animal feed, nutritional supplements, cosmetics, and other applications. In 2022, the food & beverage segment is estimated to account for the largest share of the wheat protein market. The large market share of this segment is mainly attributed to the high consumer demand for soy-free products, the growing awareness about the health benefits of wheat proteins, the rising awareness about the harmful effects of consuming animal-based products and ingredients, the constant rise in meat prices, the increasing vegan population, and the rising clean label trend.
However, the nutrition & health supplement segment is expected to register a high growth rate during the forecast period. The rapid growth of this segment is attributed to changing lifestyles, growing health and wellness trends, increasing retail sales of nutritional supplements, and the rising prevalence of diseases.
Based on geography, in 2022, North America is estimated to account for the largest share of the wheat protein market. The large share of this regional market is attributed to factors such as the well-established food processing sector, the rising concerns about the negative effects of animal-derived products and protein, the increasing vegan population, the growing consumption of bakery products and meat substitutes, huge production of wheat, the increasing demand for healthy & nutritional products, and the growing consumer awareness about the health benefits of consuming wheat protein.
However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The high market growth in Asia-Pacific is attributed to the large vegetarian population, which drives the demand for meat-free diets, the increasing health consciousness among the population, the growing awareness about the importance of consuming protein-rich diets, the rising technological advancements in the food & beverage industry, and the wide availability of raw materials.
The key players operating in the wheat protein market are Archer-Daniels-Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères Le Romain (France), Kerry Group (Ireland), Tate & Lyle PLC (U.K.), Beneo GmbH (Part of Südzucker AG) (Germany), Glico Nutrition Co., Ltd. (Japan), Crespel & Deiters GmbH & Co. KG (Germany), AGRANA Beteiligungs-AG (Austria), and Tereos (France).
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Key questions answered in the report-
Which are the high-growth market segments in terms of type, form, application, and geography?
What is the historical market size for wheat protein across the globe?
What are the market forecasts and estimates for the period 2022–2029?
What are the major drivers, restraints, challenges, opportunities, and trends in the global wheat protein market?
Who are the major players in the global market, and what shares of the market do they hold?
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