Rising consumer inclination toward meat-free diets is likely to remain a major factor driving adoption of plant-derived protein such as wheat protein. Wheat protein has sought extensive applications in various industrial sectors on the back of its numerous functions such as structure enhancement, tenderizing, dough conditioning, adhesion, aeration, whipping, foaming, and film formation.
Adoption of Wheat Protein to be driven by Growing Prevalence of Obesity & Diabetes
Growing health concerns among consumers is expected to spur demand for wheat protein as they provide high nutritional value in foods. Rising prevalence of obesity and diabetes have further proliferated adoption as wheat protein are low in calorie content, which in turn enables regulation of weight and blood-glucose level. Presence of gluten in wheat protein that acts as an emulsifier has led its adoption in the cosmetics industry. Wheat protein has also witnessed tremendous adoption among sportsmen and gym-obsessed individuals as a means to gain muscles and enhance strength. Growing application of wheat protein as additives in animal feed will further augment its demand around the world in the upcoming years.
However, there has been a restriction in supply of wheat for protein extraction since the recent past. In addition, as wheat protein comprises gluten, which can cause various diseases among consumers, its demand will witness hindrances. Surging costs of wheat having high protein content is further expected to confine adoption in the near future.
According to a new report published by Future Market Insights, the global wheat protein market is set to exhibit a moderate growth over the forecast period (2017-2026). Revenues from global sales of wheat protein are likely to close in roughly US$ 4,000 Mn by 2026-end.
Europe to Prevail as Most Remunerative Market for Wheat Protein
In terms of revenues, Europe is expected to prevail as the most remunerative market for wheat protein, mainly driven by significant demand from health- and fitness-conscious consumers in the region. In addition, demand for bakery products and snacks with nutritional supplements, wherein wheat protein seek immense adoption, has witnessed a tremendous surge in Europe. Wheat protein producing companies in Europe are focusing on developing consumer requirement-specific products such as saturated fat & cholesterol-free products.
Asia-Pacific excluding Japan (APEJ) is set to register the fastest expansion in the market through 2026. Growth of the market in APEJ will be driven by population expansion coupled with increasing awareness about healthy foods and improving consumer lifestyle. With India and China being among the few major producers of wheat, and growing food & beverage and healthcare industries, demand for wheat protein is set to witness acceleration in APEJ.
Wheat Gluten to Remain Largest Revenue Contributor to the Market
Among various product variants of wheat protein, wheat gluten is likely to remain largest revenue contributor to the market. Wheat gluten finds huge application in hair care products, dermatology products, and cosmetics, which are in high demand worldwide. However, demand for wheat gluten will witness a significant decline in the upcoming years as consumers across the globe are now preferring gluten-free diets.
Nutrition supplements and bakery & confectionary will continue to lead the global wheat protein market, in terms of revenues. Dry form of wheat protein will remain sought-after among end-use industries.
The global market for wheat protein is highly concentrated and competitive in nature. Leading manufacturers of wheat protein are focusing on the development of innovative products in a bid to enhance their portfolios. Frequent mergers & acquisitions and new product launches by major industries in an attempt to gain a competitive edge and diversify their product portfolio will further augment growth of the wheat protein market globally. Key market players profiled by the report include Archer Daniels Midland, Agridient, Manildra Group, Roquette, Kröner-Stärke, Crespel & Deiters, Cargill, MGP Ingredients, Agrana, Glico Nutrition, Tereos, and Cropenergies.
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