DUBLIN–(BUSINESS WIRE)–The “Wheat Protein Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global wheat protein market.
The global wheat protein market is expected to grow from $2.84 billion in 2021 to $3.05 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The wheat protein market is expected to grow to $3.65 billion in 2026 at a CAGR of 4.6%.
Major players in the wheat protein market are ADM (Archer Daniels Midland ), Cargill, Agrana, MGP Ingredients, Roquette, Glico Nutrition, Tereos Syrol, Agridient, Manildra Group, Crop Energies, Kroner-Starke, Crespel and Deiters GmbH, AB Amilina, Xi’an Sheerherb Biotechnology Co., BASF SE, Kerry Inc., Permolex, Chamtor, Sedamyl, Royal Ingredients Group, Meelunie B.V., Bryan W Nash & Sons, and Aminola.
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The wheat protein market consists of sales of wheat protein products by entities (organisations, sole traders, partnerships) that are used for bread and noodle-making as it creates an elastic texture for achieving a high level of dough strength. Wheat protein isolate is a popular sports nutrition supplement among bodybuilders and strength-training athletes because of its high protein content, which may aid muscle building. In the cosmetic industry, it is also used as a supplement to enrich hairs in their hydrolyzed form.
The main types of products in wheat protein are gluten, protein isolate, textured protein, hydrolyzed protein, and others. Gluten is a protein that can be found in a variety of foods, including bread, pizza, pasta, and cereal. The different natures include organic, and conventional, and involve various forms such as dry and liquid. It is used in dairy, bakery and snacks, animal feed, confectionary, processed meat, nutritional supplements, and other applications.
North America was the largest region in the wheat protein market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wheat protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing demand for substitutes for animal protein and dairy products is significantly contributing to the growth of the wheat protein market going forward. The popularity of vegan protein sources and the wide availability of vegan proteins in retail and food stores around the world make it an easy alternative for customers to choose plant-based proteins instead of animal-based, which has led to a shift of consumers from animal products to plant products.
For instance, in 2021, according to the Health and Nutrition Survey (IFIC), conducted by the International Food Information Council, a US-based non-profit organization, around one-quarter of adults consume more plant-based food compared to animal-based food in 2020.
Furthermore, according to the report by the Plant-based Foods Association, sales of plant-based foods and drinks were around $7 billion in 2021, which was designed to replace animal products, showing a significant change of 27% as compared to the year 2019. Therefore, increasing demand for substitutes for animal-based proteins and dairy products is driving the growth of the wheat protein market.
Strategic partnerships have emerged as a key trend gaining popularity in the wheat protein market. Major companies operating in the wheat protein sector are focused on partnerships to meet consumer demand.
For instance, in 2021, Archer Daniels Midland (ADM), a US-based company offering a full portfolio of textured soy, wheat, and pea proteins, partnered with Farmers Business Network (FBN), a US-based company that uses a platform to measure and verify the carbon score of grain and other crops.
This partnership helps to combine ADM’s worldwide scale and expertise with FBN’s cutting-edge digital farm commerce and data-analytics capabilities to find possibilities to boost farmer profitability, improve sustainable farming practices, and provide farmers with convenience and product accessibility.
In May 2021, JBS, a Brazilian-based food processing company, acquired Vivera for a deal amount of €341 million ($409 million). Through this acquisition, JBS has strengthened and boosted its position in the burgeoning alt-protein market by adding a brand to its existing animal-free portfolio that is well-established in consumer preference. Vivera is a Netherlands-based company operating in plant-based protein.
The countries covered in the wheat protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
For more information about this report visit https://www.researchandmarkets.com/r/b2dt9l-protein?w=4
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