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(Health-NewsWire.Net, October 25, 2024 ) The global wheat protein market is expected to expand from $2.5 billion in 2023 to $3.2 billion by 2028, achieving a compound annual growth rate (CAGR) of 4.9%. This growth is driven by the rising popularity of meat-free diets, increasing obesity rates leading to a demand for low-calorie foods, and consumers' pursuit of healthier eating options. Wheat gluten, known for its high protein content, has become a popular choice, further fueling the demand within the global wheat protein market.
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Rising Adoption of Plant-Based Meat Alternatives Set to Enhance Demand for Textured Wheat Protein
Textured wheat protein, commonly referred to as wheat meat, wheat gluten, or seitan, has long been a favored plant-based protein alternative for those seeking meat substitutes. A study published in the journal Foods in 2021 highlighted a rising global demand for meat alternatives, including textured wheat protein, largely influenced by health, ethical, and environmental concerns surrounding meat consumption. Additionally, a 2019 survey conducted by the International Food Information Council revealed that 22% of U.S. consumers reported using plant-based meat substitutes, such as textured wheat protein, at least once a week.
As a result, the demand for textured wheat protein is surging worldwide, fueled by the growing trend of plant-based diets and an increasing interest in sustainable and ethical food options.
Enhancing Pellet Quality with Wheat Protein: A Key Driver for Market Growth
In the pet food sector, wheat gluten is utilized for its excellent water absorption and fat-binding capabilities, enhancing both yield and product quality. Its distinctive binding properties contribute to superior pellet formation. A significant factor driving the wheat protein market is the rising demand for organic and premium food options. The US Department of Agriculture reports a rapid expansion in the plant-based pet food market, with sales increasing by 27% in 2020 compared to the previous year, totaling USD 600 million. According to the Pet Food Institute, which represents pet food manufacturers, wheat gluten serves as a high-quality protein source that pets can easily digest. Additionally, it is recognized as a sustainable and environmentally friendly choice for pet food production.
Wheat Gluten Expected to Lead Market Growth Throughout the Forecast Period.
Wheat gluten boasts a distinct functionality, maintaining its structural integrity even after cooking, with no direct functional competitors. It finds application in diverse areas, including bakery items, meat products, pasta, and pet foods. In baking, the strength of gluten is crucial for bread-making, significantly influencing the dough's ability to rise and retain its texture. Additionally, China stands out as a leading producer and consumer of wheat gluten.
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North America to boost market growth during the forecast period.
This study considers countries including the US, Canada, and Mexico. In the US, the market is fueled by rising consumer awareness of protein's dietary importance, which has, in turn, spurred demand for functional foods and beverages. The adaptability of wheat protein has maintained its demand in the baking sector, resulting in steady consumption growth. Additionally, advancements in research and technology related to hydrolyzed wheat protein have contributed to a long-term trend of increasing wheat protein consumption in the US. However, the growing focus on gluten intolerance poses a challenge to the wheat protein market in this region. The appealing functional profile, low carbon footprint, and cost-effectiveness of wheat-based proteins are significant factors promoting their use, especially in baked goods.
Top Companies in Wheat Protein Market
The key players in this market include ADM (US), Cargill, Incorporated (US), Tereos (France), Südzucker AG (US), MGP Ingredients (US), Roquette Frères (France), Glico Nutrition Foods Co., Ltd. (Japan), Kerry Group PLC (Ireland), Manildra Group (Australia), Kröner-Stärke (Germany), Crespel & Deiters Group (Germany), Batory Foods (US), Agridient B.V. (Netherlands), Tate & Lyle (UK), and The Scoular Company (US).
ADM is one of the global leaders in the nutrition segment. The company operates through four major segments: Ag services and oilseeds, carbohydrate solutions, nutrition, etc. It offers its plant protein products, such as wheat protein, under the nutrition segment, used in food applications, including bakery, snacks, confectionery, and cooking. ADM produces plant-based protein from various sources, such as pea, soy, and wheat, which find many applications in dairy and meat-alternative products and feed products. ADM has a global presence across North America, South America, Europe, Asia, Australia, and Africa.
Cargill, Incorporated is a global conglomerate catering to the demand in various industries. The company comprises 75 businesses classified into four key segments: agriculture, food, financial services, and industrial products. It offers plant protein, such as wheat protein products, under its food segment to meet the demand for food ingredients. The company operates in around 70 countries. It has an additional sales presence in nearly 125 countries. In July 2019, with a USD 200 million investment, Cargill expanded the variety of its starches and sweeteners and expanded its product line with wheat-based ingredients such as wheat protein. It made the investment at its German manufacturing facility in Krefeld. The investment allowed Cargill to diversify its portfolio by including specialty starches and wheat proteins.
MGP Ingredients is one of the leading manufacturers and suppliers of premium distilled spirits and specialty wheat proteins and starches. The company also produces industrial alcohol used in both food and non-food applications. It is the largest supplier of rye whisky, distilled gin, and specialty wheat proteins and starches in the US. The company operates through two segments—distillery products and ingredient solutions. The company has sales operations in the UK, Japan, Thailand, Canada, and Mexico. In April 2020, MGP Ingredients launched the ProTerra line of textured proteins. ProTerra is especially suited for use in vegetarian/vegan applications as well as in blended products as an extension or partial substitute for meat. This launch expanded its product portfolio.
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Key Questions Addressed by the Wheat Protein Market Report
What is the projected market value of the global wheat protein market?
What is the estimated growth rate (CAGR) of the global wheat protein market for the next five years?
What are the major revenue pockets in the wheat protein market currently?
What are the nutritional benefits of wheat protein?
What are the factors driving the growth of the wheat protein market?
What are the major players operating in the wheat protein market?
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