5+% Growth in Wheat Protein Market Size to Reach $3,197.21 Million by 2027 Led by Rising Demand for Functional and Clean Label Food Products

The Wheat Protein Market study recently added by The Insight Partners, offers an in-depth analysis of the current market trends influencing this business vertical. The study also includes market valuation, market size, revenue forecasts, geographical spectrum and SWOT Analysis of the industry. In addition, the report depicts key challenges and growth opportunities faced by the industry bigwigs, in consort with their product offerings and business strategies.

The global wheat protein market is accounted to US$ 2,001.92 Mn in 2018 and is expected to grow at a CAGR of 5.4% during the forecast period 2019 - 2027, to account to US$ 3,197.21 Mn by 2027. The scope of study involves understanding on the factors responsible for this growth of Wheat protein market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant Wheat protein players in the market and their key developments.

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The global wheat protein market by geography is segmented into six regions, including North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North American region is expected to account for the largest share of the global wheat protein market in 2018, followed by Europe. In addition the, US and Canada in the North America region are expected to continue its dominance in terms of market share throughout the forecast period from 2019 to 2027. Some of the major players in the wheat protein market include Archer Daniels Midland Company, Cargill, Incorporated, Roquette Freres., Kroner-Starke GmbH, Glico Nutrition Co.,Ltd, Crespel & Deiters GmbH & Co. KG, CropEnergies AG, Manildra Group, MGP Ingredients Inc., and Tereos Group among others.

North America bears the largest share for wheat proteins. The largest market share of the North American region is primarily attributed to changes in lifestyle patterns of consumers and preference toward convenience food items. Additionally, changing food habits and rising number of vegan population in developed countries such as the US and Canada has led to a surged the demand for wheat protein. Wheat proteins are widely used in preparation of bakery and confectionery items, beverages and dairy products. Further, presence of strong manufacturing base for wheat proteins along with increased focus over research and development activities is further expected to expand the growth of the market in the region.

The wheat protein market is bifurcated based on application as bakery & snacks, pet food, nutritional bars & drinks, processed meat, meat analogs and others. In 2018, the bakery and snacks segment dominated the wheat protein market. Wheat protein are increasingly being used in the bakery industry as they provide high moisture content, better absorption of water and offers softness in the final product. With the shift in consumer eating habits along with the growing demand for bakery and snacks items, the demand for wheat protein has substantially increased. Also, presence of major manufacturers engaged in production of wheat protein to serve bakery and snacks application base is also driving the growth of the segment.

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The overall global wheat protein market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Wheat protein market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Wheat protein market.

The bakery and snacks segment is expected to lead the wheat protein market, whereas the pet food segment is expected to grow at a rapid pace. The trend of veganism and clean label products is pushing manufacturers of food products to shift towards plant-based protein, which is anticipated to push market growth at a higher pace. Moreover, demand for wheat food is expected to increase exponentially in the pet food segment as adopting pets is growing with the rising geriatric population in Asian countries such as China and Japan.

Increasing inclination of consumers towards meat-free is the key factor that anticipated to push the market growth of wheat protein over the forecast period. Wheat protein holds an important position in the food and beverage industry due to its numerous functions, including structure enhancement, tenderizing, dough conditioning, adhesion, aeration, whipping, foaming, and film formation. However, high cost, limited supply, and allergies associated with wheat are projected to hamper the growth over the forecast period.

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