Market Overview and Growth Factors:
Globally, wheat protein is witnessing high demand, which is driving greater private investments by companies involved in the wheat protein market, to gain consumer attention and encourage purchasing. Also, companies manufacturing plant based protein products in the North American and European region are spending more on marketing activities to promote wheat protein among the consumers in these regions.
Wheat protein is a plant based protein extracted from wheat grains. It comprises of two insoluble protein groups known as gliadin and glutenin. The three common types of wheat protein include wheat gluten, wheat protein isolates, and textured wheat protein. It is widely used in food industry for its elastic texture which provides dough strength.
Increasing demand for efficient and cost effective ingredients in sports drinks & food is boosting the growth of wheat protein market. Moreover, increasing health conscious population and growing trend of adding functional foods and nutritional supplements in diet is propelling the growth of wheat protein market.
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Additionally, the enhancement of the product coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the wheat protein market during the forecast period, 2017-2023. However, possible side effects associated with wheat protein such as gluten intolerance may hamper the growth of the market.
Some of the key players profiled in the global wheat protein market: Cargill Inc. (U.S.), Roquette Freres S.A. (France), Archer-Daniels-Midland Company (U.S.), Manildra Group (Australia), MGP Ingredients, Inc. (U.S.), Tereos SA (France), Permolex International, L.P. (Canada), Crespel & Deiters GmbH & Co. KG (Germany), Hermann Kroener GmbH (Germany), and Chamtor SA (France)
Jan 2018, leading European organic and ‘clean-label’ starch producer Kroner-Starke has introduced a new range of clean label wheat proteins to the German and European market.
Wheat protein have a massive opportunity in the functional food industry
Asia Pacific is the fastest growing region in the wheat protein market. India and China has shown huge potentials for wheat protein market share during the reviewed period of 2017-2023
The global wheat protein market is segmented into type, form, and application.
On the basis of the form, the wheat protein market is segmented into dry and liquid. The dry form segment is dominating the market owing to better stability and higher shelf-life.
On the basis of the application, the wheat protein market is segmented into bakery and confectionery, snacks, nutritional bars & drinks, processed meat, pet food, and others. The bakery and confectionary segment is dominating the market. However, the pet food segment is anticipated to grow substantially over the estimated period.
On the basis of the type, it is segmented into wheat gluten, wheat protein isolate, textured wheat protein, and others. Among all the types, the wheat gluten segment is dominating the market followed by the textured wheat protein owing to the presence of high protein content and wide range of product applicability.
The global Wheat Protein Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the wheat protein market followed by Europe owing to increasing demand for high protein food and beverage products. Additionally, the major key players are actively involved in the research & developments of the product conforming to North American regulations for food fortification with wheat protein.
Asia Pacific is projected to be the fastest growing region over the forecasted period. India and China are the major contributors in this region owing to increasing health awareness and increase in consumption of healthy foods. Latin America is also expected to witness moderate growth over the estimated period in which Brazil and Mexico are the major contributors.