NEWARK, Del, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The wheat protein market is expected to be worth US$ 3.4 billion in 2023, with total Wheat Protein revenue expected to grow at a 5.3% CAGR from 2023 to 2033, reaching around US$ 5.7 billion.
The wheat protein market was valued at US$ 3.3 billion in 2022 and is estimated to increase at a 4.7% CAGR during the forecast period. Absolute dollar growth in the global market is $2.3 billion. Rising demand for wheat protein from various end-use sectors, combined with rising consumer desire for meat-free diets, is a primary factor driving the global wheat protein market.
Wheat protein market growth is predicted to be driven by increased plant-based diet adoption as well as a rise in the number of people adopting vegan diets in developing economies. Furthermore, a growing senior population, rising income levels, and increased urbanization are projected to drive product demand.
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Wheat protein has outstanding possibilities for a wide range of sectors due to several advantages. Bakery items, flour milling, meat replacer, pasta, aqua-feed, breakfast cereal, milk replacer, and pet food are just a few of the applications. The flour miller, also known as the baker's adjustment, is the most basic and extensively utilized application of wheat protein. As a result, market expansion is expected to be fueled by such a diverse variety of applications for various end-use industries over the forecast period.
Although whey protein isolates are more filtered and processed than whey protein concentrates to successfully eliminate more lactose, those with even a little lactose allergy should avoid such products. Lactose intolerance occurs when the body is unable to digest lactose, a natural sugar found in dairy products such as milk. Plant-based alternatives such as wheat protein are the best option for customers who wish to increase their protein intake for health or training objectives, which may contribute to market growth.
Key Points
- Wheat Protein Market is expected to develop at a 5.3% CAGR from 2023 to 2033.
- The Wheat Protein Market was dominated by North America.
- By 2033, the Wheat Protein Market is estimated to exceed US$ 5.7 billion.
- Wheat gluten dominated the product group from 2023 to 2033, accounting for the highest sales share of 3.2%.
- China and India are two of the leading producers.
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Recent Developments
- In September 2020, ADM introduced Prolite MeatTEX textured wheat protein and Prolite MeatXT non-textured wheat protein, both of which add flesh-like texture to meat and seafood substitute products. They feature a clean taste, a white color basis, and faster water absorption and hydration rates.
- MGP Ingredients will debut the ProTerra line of textured proteins in April 2020. ProTerra is ideal for use as an extension or partial substitute for meat in vegetarian/vegan applications, as well as in blended products.
- Agrana opened a new wheat starch processing plant in Austria in November 2019. Agrana will be able to increase its wheat starch production capacity thanks to the new plant. Agrana's enlarged wheat starch mill can process about 650,000 tonnes of wheat per year to create 50,000 tonnes of wheat gluten.
- In July 2019, Cargill invested US$ 200 million in the production of wheat-based ingredients at its Krefeld, Germany, manufacturing facility. This investment will enable the company to diversify its wheat protein portfolio and address the growing market demand for protein-rich foods.
Given Below are the Wheat Protein Market Segments
By Product:
- Wheat Gluten
- Wheat Protein Isolate
- Hydrolysed Wheat Protein
- Textured Wheat Protein
By Form:
- Dry
- Liquid
By Application:
- Animal Feed
- Bakery & Confectionary
- Nutrition Supplements
- Dairy Products
- Cosmetics and Personal Care
- Other Applications
By Region:
- North America
- Latin America
- Europe
- APEJ
- Japan
- MEA
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Table of Content:
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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