Press release
Wheat Protein Market Global Industry Analysis, Growth and Forecast, 2018-2024
These products may not be suitable for every consumer owing to the presence of high protein concentration that can cause stomach ailments. Increasing awareness of gluten-free food products and rising incidences of gluten intolerance among consumers may hamper wheat protein market growth.
Wheat protein Market size is estimated to exceed USD 2.5 billion by 2024; according to a new research report by Global Market Insights, Inc.
Growing health concern among consumers and need to avoid unhealthy occurrences such as lactose intolerances is fueling demand for vegan nutritive protein products. Surging adoption of plant-based food products to reduce the risk of diabetes and obesity will fuel wheat protein market growth during a forecast time frame.
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Wheat protein isolate market will witness sales over USD 800 million by 2024. Increasing fitness awareness among the large population in North America and the Asia Pacific drives demand for health supplements, nutritional products and energy drinks. Sportsperson and athletes primarily need protein intake to cope up for body nutrition during training, daily exercises and practice performances, thus stimulating product demand.
Several organizations are involved into wheat protein product development. For instance, an International wheat gluten association is working with food technologist for research on several food applications and new product development to enhance food flavor, appearance, nutrition, and cost. Changing lifestyle coupled with the adoption of RTE products and packaged food, including instant noodles & pasta is driving market penetration.
Hydrolyzed wheat protein market is projected to observe over 3% growth up to 2024. Rising demand for natural personal care products including shampoo, masks, hair conditioning and body moisturizers will propel product demand. These ingredients are widely utilized owing to its nourishing benefits associated to improve skin and hair health. It also acts as an emulsifying agent utilized in the manufacturing of cosmetic products.
Bakery & confectionery applications accounted for over 50% of the global industry share. Rising consumer spending on RTE products, instant food, and beverages are the key drivers generating product demand. Complex manufacturing procedure and unstable raw materials during baking need value-added ingredients such as gluten to improve stability and elasticity.
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Dry form demand stood over 500 kilotons in 2016. It is the most preferred form due to better stability, easy to measure and less threat of contamination are the key factors driving demand in this segment.
The Asia Pacific wheat protein market is anticipated to observe the significant industry growth during the forecast time owing to large consumer population supporting demand. Cosmetic industry growth owing to increasing awareness and rapid urbanization is the instigating usage of personal care products, thus fueling regional industry growth of wheat protein market.
Major industry players in wheat protein market include Roquette, Agrana, Karner-Strike, Crespel & Deiters, Tereos Syral, CropEnergies, and ADM. Mostly, companies are into product portfolio expansion and new product development for novel applications. Other companies are Gluten y Almidones Industrials, Glico Nutrition, Manildra Group, MGP Ingredients.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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