Wheat Protein Market Will Hit Big Revenues In Future

Northbrook, USA, 2021-Mar-22 — /EPR Network/ —The report “Wheat Protein Market by Product (Wheat Gluten, Wheat Protein Isolate, Textured Wheat Protein, Hydrolyzed Wheat Protein), Application (Bakery, Pet Food, Nutritional Bars, Processed Meat, Meat Analogs), Form (Dry, Liquid), and Region – Global Forecast to 2026″, The wheat protein market is projected to reach USD 3.1 billion by 2026, from USD 2.4 billion in 2021, at a CAGR of 5.0% during the forecast period. The market is driven by factors such as a shift in preference for plant-based protein foods, increased demand for meat-free diets, and growing incidence of lactose intolerance.

Opportunities: Growing potential for plant-based proteins due to increased affinity for sustainable food sources

Consumers these days look out for terms such as “natural”, “organic”, and “GMO-free” in order to make instant purchase decisions. As a result, plant-based protein products remain the more preferable choice, to rely on growth opportunities. The demand for plant-based proteins such as soy proteins, potato proteins, wheat proteins, pea proteins, etc., are projected to grow due to the positioning of these plant-based proteins as a sustainable food source. Furthermore, the cost advantage, and a certain level of awareness regarding the authenticity of naturally-sourced products, act as few reasons as to why the popularity of this market has been growing.

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Challenges: Limited technological developments

Although the market for wheat protein is expected to witness progressive growth rates during the forecast period, limited technological developments in the market are expected to hinder higher growth rates. While related industries like those of whey protein and the market for gluten-free products are expected to invest substantially in research & development activities to develop better, convenient, and more consumer-suitable products, technological advancements in case of wheat proteins remain stunted. For example, FrieslandCampina DMV recently launched a new product called the Nutri Whey Hydro during Fi Europe 2017. This product was created by working on a specific and unique protein hydrolyzation process that was gentle in nature and helped optimize the taste and nutrition of the product simultaneously. Although the hydrolyzed protein market is expected to be gaining traction during the forecast period, one of the major challenges that the market faces, is its bitter and unpleasant taste. By advancing in new technological methods to optimize tastes and nutritional capabilities, the company has now successfully mitigated that challenge.

By application, pet food segment is projected to be the fastest-growing segment in the wheat protein market during the forecast period.

The growing expenditure on pet food products along with pet humanization in economies such as India and the US is expected to drive the wheat protein market growth in the pet food segment. Changing consumer preferences driven by awareness toward meat sourcing practices, its ecological impact, and animal-borne diseases have led to more consumers opting out of meat consumption. The resulting change has led to consumer demand shifting from conventional animal-based proteins to plant-based alternatives.

Asia Pacific is projected to. be the fastest-growing region in the wheat protein market during the forecast period.

The Asia Pacific region is projected to be the fastest growing region due to increased demand for meat-free diets and a shift in consumer preference for healthy food options. The increase in R&D for plant-based protein, the growing vegan population, new product launches, and growing investments in the bakery industry are expected to drive the wheat protein market growth in this region during the forecast period.

Key Market Players:

Key players in this market include ADM (US), Cargill (US), Agrana (Austria), MGP Ingredients (US), Manildra Group (Australia), Roquette (France), and Glico Nutrition (Japan). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities, along with strong distribution networks across these regions.

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Recent Developments:

1. In September 2020, ADM launched Prolite MeatTEX textured wheat protein and Prolite MeatXT non-textured wheat protein, which contribute meat-like texture to meat and seafood alternative products. They have a clean taste, a blank-slate color base, and offer enhanced water absorption and hydration speeds.
2. 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.
3. In November 2019, Agrana opened a new wheat starch processing plant in Austria. The new facility will allow Agrana to double its wheat starch production capacity. Agrana’s expanded wheat starch facility holds the capacity to process around 650,000 tonnes of wheat per annum to produce 50,000 tonnes of wheat gluten.