Redding, California, June 01, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Wheat Protein Market by Type (Vital Wheat Gluten, Protein Isolates, Hydrolyzed Proteins, Textured Protein), Form (Solid, Liquid), Application (Bakery, Meat Alternatives, Dairy Alternatives, Animal Feed, Nutritional Supplements) - Global Forecast to 2029,’ the wheat protein market is expected to reach $9.5 billion by 2029, at a CAGR of 9.3% from 2022 to 2029.
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Wheat-based food has been a staple food for years and is a common part of diets worldwide. Wheat contains 8–15% protein depending on grain variety. Wheat grains also contain gluten proteins. Gluten has a unique physical functional property that none of the other plant sources possess. Gluten forms a cohesive, viscoelastic proteinaceous network that provides the unique ability of wheat to produce leavened products. The major wheat usage has traditionally been in baked products. A major use of wheat in non-bakery foods is a meat replacement in vegetarian foods. It is also used as a functional ingredient in the food industry due to its nutritional benefits. Moreover, wheat-based products are suitable for people who are lactose intolerant. Thus, the growing applications of wheat in food, beverage, and nutraceutical formulations drive the growth of the wheat protein market.
The wheat protein market is segmented based on type, form, application, and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Impact of COVID-19 on the Wheat Protein Market
The outbreak of the COVID-19 pandemic highlighted the importance of consuming healthy diets, resulting in an increased demand for plant-based food products with high protein content. Many companies in the plant-based food industry started changing their strategies to meet the sudden increase in demand. For instance, plant-based product manufacturers such as Beyond Meat Inc., Impossible Foods Inc., and Tofukry Co. increased their production and offered discounts on their plant-based alternative products to appeal to more consumers and expand into more stores.
The COVID-19 pandemic boosted the demand for protein ingredients from plant protein-based product manufacturers, increasing investments and partnerships. For instance, in April 2021, Beyond Meat, a plant-based protein company, opened a production facility near Shanghai to tap its supply chain resources and potentially reduce the carbon footprint of its products. In 2020, The Plant-Based Foods Association (PBFA), the trade association representing 180 plant-based food companies, partnered with Dot Foods to increase access to plant-based food products in North America.
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Furthermore, Protein, a product category synonymous with health, nutrition, and fitness, remained among the top-selling ingredients in 2020 despite the outbreak of the COVID-19 pandemic that closed gyms and indoor recreation for several months. According to SPINS data on the 52 weeks ending November 29, 2020, in the mainstream supplements channel, the protein sales (animal and plant combo) grew by 3.4% to $1.47 billion in the U.S., making it the bestselling ingredient in the channel. Additionally, protein (animal-multi) was the third highest-selling ingredient in the channel, with $759 million in sales despite a 4% decline in sales growth. Also, protein (animal-general) grew 9.4% to $482.6 million, and protein (animal-whey) grew 4% to $269 million. Mushroom sales grew by 46% compared to 2019 to reach $14.7 million in sales in 2020.
Thus, the increased demand for protein ingredients during the COVID-19 pandemic boosted the growth of the wheat protein market.
Key Findings in the Wheat Protein Market Study:
Based on type, the wheat protein market is segmented into vital wheat gluten, wheat protein isolates, hydrolyzed wheat protein, and textured wheat protein. In 2022, the vital wheat gluten segment is estimated to account for the largest share of the wheat protein market. However, the hydrolyzed wheat protein segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the rising demand for plant-based dietary products and technological advancements in the personal care products sector.
Based on form, the wheat protein market is segmented into solid/dry and liquid. In 2022, the solid/dry segment is estimated to account for a larger share of the wheat protein market. The large market share of this segment is attributed to factors such as the growing demand for powdered wheat protein, ease of handling & transport, lower costs, lower chances of formulation errors, and their capability to maintain ingredient stability. This segment is also expected to grow at a higher CAGR during the forecast period.
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Based on application, the wheat protein market is segmented into food & beverage, animal feed, nutritional supplements, cosmetics, and other applications. In 2022, the food & beverage segment is estimated to account for the largest share of the wheat protein market. The large market share of this segment is mainly attributed to the high consumer demand for soy-free products, the growing awareness about the health benefits of wheat proteins, the rising awareness about the harmful effects of consuming animal-based products and ingredients, the constant rise in meat prices, the increasing vegan population, and the rising clean label trend. However, the nutrition & health supplement segment is expected to register a high growth rate during the forecast period. The rapid growth of this segment is attributed to changing lifestyles, growing health and wellness trends, increasing retail sales of nutritional supplements, and the rising prevalence of diseases.
Based on geography, in 2022, North America is estimated to account for the largest share of the wheat protein market. The large share of this regional market is attributed to factors such as the well-established food processing sector, the rising concerns about the negative effects of animal-derived products and protein, the increasing vegan population, the growing consumption of bakery products and meat substitutes, huge production of wheat, the increasing demand for healthy & nutritional products, and the growing consumer awareness about the health benefits of consuming wheat protein. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period.
Some of the key players operating in the wheat protein market are Archer-Daniels-Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères Le Romain (France), Kerry Group (Ireland), Tate & Lyle PLC (U.K.), Beneo GmbH (Part of Südzucker AG) (Germany), Glico Nutrition Co., Ltd. (Japan), Crespel & Deiters GmbH & Co. KG (Germany), AGRANA Beteiligungs-AG (Austria), and Tereos (France).
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Scope of the report:
Wheat Protein Market, by Type
- Vital Wheat Gluten
- Wheat Protein Isolates
- Hydrolyzed Wheat Protein
- Textured Wheat Protein
Wheat Protein Market, by Form
- Solid/Dry
- Liquid
Wheat Protein Market, by Application
- Food & Beverage
- Bakery & Snacks
- Meat and Meat Alternatives
- Dairy and Dairy Alternatives
- Confectionery
- Others
- Animal Feed
- Nutritional Supplements
- Cosmetics
- Other Applications
Wheat Protein Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific (RoAPAC)
- Rest of World
- Latin America
- Middle East & Africa
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