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The Future of Wheat Protein Market : A Detailed Report on Top Companies Overview, Business Growth Expectations, and Demand Forecast by 2032 || Cargill, Agrana, MGP Ingredients, Roquette
Wheat Protein Market
Wheat Protein Market Size, Growth Rate, And Forecast
The global wheat protein market size grew from $3.08 billion in 2022 to $3.29 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The wheat protein market size is expected to grow to $4.12 billion in 2027 at a CAGR of 5.8%.
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Wheat Protein Market Drivers
The increasing demand for substitutes for animal protein and dairy products is significantly contributing to the growth of the wheat protein market going forward. The popularity of vegan protein sources and the wide availability of vegan proteins in retail and food stores around the world make it an easy alternative for customers to choose plant-based proteins instead of animal-based, which has led to a shift of consumers from animal products to plant products. For instance, in 2021, according to the Health and Nutrition Survey (IFIC), conducted by the International Food Information Council, a US-based non-profit organization, around one-quarter of adults consume more plant-based food compared to animal-based food in 2020. Furthermore, For instance, according to Good Food Institute, a US-based non-profit organization to promote plant-based and cell-based alternatives to animal products, sales of plant-based foods increased three times more quickly than those of non-plant-based meals as compared to its previous years in the year 2021 in the US. Therefore, increasing demand for substitutes for animal-based proteins and dairy products is driving the growth of the wheat protein market.
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Wheat Protein Market Segments
• By Type: Cherry Wheat Protein, Roma Wheat Protein, Beefsteak Wheat Protein, Heirloom Wheat Protein, Wheat Protein On The Vine, Green Wheat Protein, Other Types
• By Category: Conventional, Organic
• By Distribution Channel: Direct, Indirect
• By End User: Food Service Industry, Household Or Retail Industry
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the wheat protein market.
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Wheat Protein Market Key Players
Major competitors in the wheat protein market are ADM (Archer Daniels Midland ), Cargill, Agrana, MGP Ingredients, Roquette, Glico Nutrition, Tereos Syrol, Agridient, Manildra Group, Crop Energies, Kröner-Stärke, Crespel and Deiters GmbH.
The Business Research Company's "Global Wheat Protein Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Wheat Protein Market Include:
1. Executive Summary
2. Wheat Protein Market Characteristics
3. Wheat Protein Market Trends And Strategies
4. Wheat Protein Market - Macro Economic Scenario
5. Wheat Protein Market Size And Growth
………………
27. Wheat Protein Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Wheat Protein Market
29. Wheat Protein Market Future Outlook and Potential Analysis
30. Appendix
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