New York, Sept. 19, 2019 (GLOBE NEWSWIRE) -- Rise in demand for vegan and meat substitute products, increasing demand for plant-based protein sources, focused industrial research on the subject and a fast-paced development of food infrastructure globally are key factors contributing to the growth of the proteins derived from wheat during forecast period.
According to the current analysis of Reports and Data, the global Wheat Protein market was valued at USD 2.15 Billion in 2018 and is expected to reach USD 3.08 Billion by year 2026, at a CAGR of 4.6%. As the consumers are moving towards cleaner product labels, nutritionally enhanced diets and meat substitutes, wheat protein has become an important food ingredient because of its nutritional values. The global food trade is expanding and becoming increasingly international in its nature. With the rising developments in the food production and supply chains, this food ingredient is getting a boost and is witnessing increasing application in various food items such as bakery & snacks, animal & pet feed, nutritional supplements and the like. The global wheat protein market is expanding at a modest pace and is projected to witness the fastest growth in the Asia Pacific region during the period of forecast.
Plant-based protein sources are being increasingly demanded because of growing environment sustainability concerns. Protein derived from wheat, particularly wheat gluten and isolates are such important sources.
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Further key findings from the report suggest
- By application, the bakery & snacks segment is the most prominent segment of the wheat protein market. Baked goods & snacks often make use of wheat ingredients containing a high protein component in order to make the products healthy.
- Animal feed requires protein-rich components to make a healthy diet for both farm animals and pets. Protein derived from wheat is the best choice due to its nutritional characteristics. This application segment is expected to register the fastest rate of growth at 5.3% in the wheat protein market.
- By product type, wheat gluten had the largest share of 38.7% in the wheat protein market in 2018. This protein acts for nutritional purposes and also helps as a binding agent. It helps to give an appropriate texture to dough.
- Protein isolates derived from wheat is expected to register the highest CAGR of 5.2% under the product category during the forecast period. It has a high protein content and is useful for muscle growth.
- Growing prominence of gluten-free foods and an increasing number of cases of gluten intolerance are a threat to this market. It also faces tough competition till data from animal-based protein sources.
- By region, the North American wheat protein market was the largest, acquiring a market share of 41.2% in 2018. Globalization of food trade, increasing demand for wheat-based proteins from developing nations and rising obesity cases in the region are shaping the growth of this market.
- The North American wheat protein market is projected to cross USD 1.5 billion mark by 2026.
- Asia Pacific is expected to register the highest CAGR of 6% in the global wheat protein market. India and China will register the fastest growth within this region. Large scale wheat production, government support and cheap labor costs are the major factors driving market growth.
- Leading market players are providing the best varieties to cover all the major application segments. For example, Cargill’s wheat gluten is manufactured with a focus on dough machinability and extended shelf life of products.
- Acquisition are witnessed frequently in the market to establish a stronghold in business. In January 2018, Cargill acquired Pro-Pet LLC, which is a manufacturer of private label and co-manufactured pet foods.
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented this market on the basis of product type, form, concentration, function, application and region:
Product Type (Revenue, USD Million; 2016–2026)
- Gluten
- Protein Isolate
- Textured Protein
- Hydrolyzed Protein
Form (Revenue, USD Million; 2016–2026)
- Dry
- Liquid
Concentration (Revenue, USD Million; 2016–2026)
- 75%
- 85%
- 95%
Function (Revenue, USD Million; 2016–2026)
- Emulsification
- Binding
- Foaming
- Texturing
- Viscoelasticity
- Adhesion & Extensibility
Application (Revenue, USD Million; 2016–2026)
- Animal and Pet Feed
- Bakery and Snacks
- Nutritional Supplements
- Dairy Products
- Cosmetics and Personal Care
- Processed Meat
- Others
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Europe
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East and Africa
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