Wheat Protein Market to hit US$ 4,083.05 million, Globally, by 2028 at 2.3% CAGR: The Insight Partners

According to a new market research report "Wheat Protein Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Wheat Gluten, Wheat Protein Isolates, Textured Wheat Protein, and Hydrolyzed Wheat Protein), Form (Dry and Liquid), and Application (Bakery & Snacks, Pet Food, Nutritional Bars & Drinks, Processed Meat, Meat Analogs, and Others)" published by TheInsightPartners, the Wheat Protein market size is projected to grow from US$ 4,083.05 million in 2021 to US$ 4,788.49 million by 2028, at a Compound Annual Growth Rate (CAGR) of 2.3% during the forecast period.

Archer Daniels Midland Company; Roquette Frères; Glico Nutrition Co., Ltd; Kröner-Stärke GmbH; Cargill, Incorporated; Crespel & Deiters GmbH & Co. KG; CropEnergies AG; Manildra Group; MGP Ingredients Inc.; and Tereos Group are a few well-established players in the global wheat protein market. Companies in the market are adopting various strategies, such as product developments, plant expansions, and mergers and acquisitions, to expand their footprint worldwide and meet the growing demand from end-users. For instance, in 2020, Archer Daniels Midland Company developed new products. The products contain Arcon T textured pea proteins, Prolite MeatTEX textured wheat protein, and Prolite MeatXT non-textured wheat protein.

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Wheat proteins are plant-based proteins primarily obtained by processing wheat using different enzymes. They are insoluble functional proteins that possess unique visco-elastic characteristics and offer elasticity and extensibility to a final product. The proteins are considered a viable alternative for animal-based protein. They are widely used across several end-use industries, such as bakeries & confectionery, cosmetics & personal care, animal feed, and nutrition supplements.

In 2020, Europe held the largest revenue share of the global wheat protein market. The European market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Rising health awareness among consumers propels the demand for numerous plant protein products, such as soy, wheat, and oat. The popularity of the wheat protein has increased across the region, particularly in Germany, France, and the UK. Europeans are increasingly adopting the flexitarian diet, i.e., replacing part or most of their meat consumption with alternative protein food. These factors drive the demand for wheat protein products in Europe.

Many industries, such as the food & beverage industry, faced unprecedented challenges due to the COVID-19 pandemic. Due to shortage in raw material supply, the shutdown of factories, shortage of labor, and other difficulties in operations under COVID-19 safety protocols, companies involved in the manufacturing of wheat protein faced difficulties during the initial months of the pandemic. The food & beverage sector is the bulk consumer of wheat protein and the ongoing COVID-19 pandemic has negatively influenced the demand for wheat protein. Food and beverage products, such as bakery products, confectionery items, and dairy products, are being pushed back as the supermarkets have reallocated stock priorities toward staples and essential supplies due to the outbreak.

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Market Insights

Increasing Demand for Natural and Organic Ingredients

The importance of organic food items has been understood in the wake of alarming health issues, coupled with rising consciousness about organic certifications and growing preference for high-quality food items. Nowadays, consumers are looking for natural, clean, and simple ingredients with proper labels, which could effectively convey their contents, quality, and intent of the product use. Further, they are largely dependent on organic and natural food products. For instance, the consumption of organic wheat protein has been extensively rising in diverse application sectors, such as food & beverages, and animal and aqua feed. Thus, the manufacturers of wheat protein are focusing on developing and marketing organic wheat protein.

GLOBAL WHEAT PROTEIN MARKET SEGMENTATION:

Wheat Protein Market, by Product
• Wheat Gluten
• Wheat Protein Isolates
• Textured Wheat Protein
• Hydrolyzed Wheat Protein

Wheat Protein Market, by Form
• Dry
• Liquid

Wheat Protein Market, by Application
• Bakery & Snacks
• Pet Food
• Nutritional Bars & Drinks
• Processed Meat
• Meat Analogs
• Others

Regional and Country-wise Analysis: Global Wheat Protein Market
- North America (U.S., Canada, Mexico)
- Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)
- Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)
- Latin America (Brazil, Rest of L.A.)
- The Middle East and Africa (Turkey, GCC, Rest of Middle East)

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Report Spotlights
• Progressive industry trends in the global wheat protein market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the global wheat protein market from 2019 to 2028
• Estimation of the demand for wheat protein across various industries
• Recent developments to understand the competitive market scenario and the demand for wheat protein
• Market trends and outlook coupled with factors driving and restraining the growth of the wheat protein market
• Decision-making process by understanding strategies that underpin commercial interest with regard to the global wheat protein market growth
• Wheat protein market size at various nodes of the market
• Detailed overview and segmentation of the global wheat protein market as well as its dynamics in the industry
• Wheat protein market size in various regions with promising growth opportunitiez

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About The Insight Partners:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our wide range of research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials and Foods and Bavarages.

This release was published on openPR.