What's driving the Wheat Protein Market Share? Top Players- Cargill, DuPont, Archer Daniels Midland Company, Roquette

Wheat protein Market is estimated to exceed USD 2.7 billion by 2024, according to a new research report. Fruits and vegetables have witnessed a renewal of interest in consumption as various health regulatory bodies around the world have emphasized the importance of including these ingredients in daily diet.

A study showed that 60% of American consumers between the ages of 15 and 70 are trying to cut back on their dependence on meat-based products while 17% are eating a predominantly plant-based diet. As protein is viewed as one of the indispensable parts of a diet, consumers are looking to keep their protein intake unaffected by consuming more plant-based proteins.

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Company Profiles
Company Profiles
1. DuPont
2. Archer Daniels Midland Company
3. Cargill
4. Bunge
5. Mead Johnson Nutrition
6. CHS Inc.
7. Rousselot
8. Tessenderlo Group
9. Roquette
10. MGP Ingredients
11. Burcon NutraScience Corporation
12. Kewpie Corporation
13. The Scouler Company
14. CropEnergies AG
15. Fonterra Co-operative Group
16. DuPont
17. Archer Daniels Midland Company
18. Cargill
19. Bunge
20. Mead Johnson Nutrition
21. CHS Inc.
22. Rousselot
23. Tessenderlo Group
24. Roquette
25. MGP Ingredients
26. Burcon NutraScience Corporation
27. Kewpie Corporation
28. The Scouler Company
29. CropEnergies AG
30. Fonterra Co-operative Group

Plant-based meat producers like Beyond Meat and Impossible Burger have already been producing palatable plant-based proteins. As per estimates, plant-based food protein ingredients industry share will increase at a rate of 6.5% over 2017-2024.

However, it should be observed that plant-based food protein ingredients market still has a long way to go before it becomes mainstream. Given that the prioritized reasons for consumption of protein include weight management, muscle development, appetite management and energy boosting, a significant percentage of the global population strongly believe in the consumption of animal protein.

This factor would rather overtly boost animal-based food protein ingredients market size, leading to a target valuation of 3.25 million tons of consumption by 2024. In the United States, even with the rising trends of the masses turning vegetarian and vegan, the demand for animal-based food outstrips supply.

No matter what the source is and in what form protein is consumed, healthcare experts universally acknowledge its importance as essential amino acids go a long way in healing wounds, developing muscle tissue, healthy and bright skin and improvement of cognitive and digestive functions. Also, avoidance of protein can lead to weight gain in some cases as people end up consuming more carbs in a bid to compensate for lost protein and end up gaining weight instead.

Global food protein ingredients market share is moderately fragmented with key industry participants including DuPont, ADM, Cargill, Bunge and Fonterra. These companies focus on expanding production capacity and regional presence of product penetration through strategies like mergers & acquisition, partnerships and joint ventures.
Soy based food protein ingredients market should grow at a rate of over 7% during projected timeframe. This growth of soy protein demand can be due to its application in meat processing, functional food and dairy replacement application.

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Germany food protein ingredients industry should surpass USD 2 billion by 2024. Growing demand for plant-based protein owing its associated health benefits and rising vegan population should bolster industry growth.

Favorable government regulations and standards set forth by FDA regarding labeling food should influence industry growth. Growing demand for soy-based protein ingredients can be attributed to its health benefits including improved metabolism, reducing risk for diabetes, promoting bone health, improving digestive health and protection from other disease.

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This release was published on openPR.