Wheat Gluten Market Quality Analysis 2019 | Product Segment, Regional Outlook, Current Scenario, Leading Players and Forecast to 2024

Market Overview

Global Wheat Gluten Market has been observing high demand in the past few years and is estimated to reach USD 4593.5 million by 2024. This is a striking rise when compared to its valuation of USD 2866.1 million in 2017. There is a high usage of wheat gluten in the feed and bakery industry, which propels the market growth immensely. In addition, emerging applications in end-use industry and increasing consumer preference for meat-free diets are anticipated to drive the market growth.

Moreover, consumer mindfulness of healthy foods is expected to spur the demand due to the high nutritional value of wheat gluten. Apart from this, increasing cases of obesity all across the globe is expected to trigger the demand as well, as they are low in calorie which is helpful for weight loss. The global market is estimated to expand owing to the demand from bodybuilders and sportsmen for gaining muscles and enhancing strength. Growing applications of these foods as an additive in animal feed further augments the market growth. Thus, the market players are taking notice of these opportunities by expanding their service offerings, which boosts the market size globally.

On the flip side, lack of awareness about the health benefits of wheat gluten undermines the market growth. This is prevalent, particularly in emerging economies. However, rise in disposable income of the middle-class population combined with improving economic growth rate across many nations has worked in favor of the market.

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Competitive Analysis

The major key players in the Wheat Gluten Market are Cargill Inc. (U.S.), Tereos (France), AB Amilina (Lithuania), Royal Ingredients Group (Netherlands), Permolex International (Canada), Pioneer Industries Limited (India), and Meelunie (Netherlands).

Regional Outlook

The global wheat gluten market is geographically segmented on the basis of North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).

Among all regions, North America is leading the global market claiming over 22.9% of the global market share with the United States growing at the highest rate. The country had a market share of 42.1% in 2017. The region is projected to reach a valuation exceeding USD 1115.2 million by 2024. The market growth in the region is driven by factors such as changing eating habits of the consumers and inclination of consumers towards healthy foods along with growing awareness of health benefits of wheat gluten.

On the other hand, Europe is estimated to grow at the highest rate during the forecast period. The foray of the wheat gluten market into the region is marked by the rise in disposable income of the middle-class population and significant spending of the high-class population on healthy foods.

Following Europe is the region of Asia Pacific which is growing at an impressive rate. Strong economy and shifting focus of consumers towards healthy products have led to the market expansion in the region. The rising urbanization and accelerated disposable income levels also shape the market size positively.

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Segment Analysis

The global wheat gluten market is segmented on the basis of form and application.

By form, the market is segmented on the basis of liquid and powder. Among these, the powder segment claimed the largest market share of 75.11% in 2017. The segment is expected to reach USD 3541.7 million and register CAGR of 8.65% during the forecast period (2017-2024).

By application, the market is segmented on the basis of bakery & confectionery, supplements, animal feed, and others. Among these, the bakery & confectionery segment is expected to account for the largest market share in the global wheat gluten market during the forecast period. Furthermore, the segment is estimated to reach the value of USD 2123.0 million by the end of 2024. On the other hand, the supplements segment is presumed to register the most significant CAGR of 6.33% during the forecast period.

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This release was published on openPR.