Rising demand for use in animal feed products is one of the important factors driving the wheat protein market, as wheat gluten is a good protein source for young animals. Wheat protein is being used as a replacement for casein, which is an expensive animal feed product. Wheat gluten is also used for livestock and aqua feed as a pure source of carbohydrates and nutrients. Wheat gluten is a preferred feed product in aquaculture and livestock farming because of its nutritional qualities. It is widely used as pet food for its palatability, concentration, digestibility, galactagogue effect, protein content, and fiber content. Wheat gluten is also used in the production of liquid formulations such as substitute milks for calves and piglets.
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Food & beverages account for around 55% share of the global market. This is due to rising focus on consumption of functional food products, bakery products, cereals & snacks, processed meat & seafood, sauces, dressings & soups, and meat analogues, where wheat protein is used on a large scale.
- In January 2018, MGP launched the wheat-textured protein TruTex, which is obtained from high quality non-GMO wheat. This product can be utilized in meat products, poultry and seafood, and vegetarian products, besides others.
The global wheat protein market is set to experience a value growth of around 5% CAGR over the forecast period of 2021 to 2031. Concentrate wheat protein holds the highest share around 54.5% globally, with revenue expected to reach close to US$ 2.7 Bn by 2031.
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Key Takeaways from Market Study
- The wheat protein market in countries of East Asia & South Asia is expected to rise at CAGRs of 6.8% and 6.3%, respectively, through 2031.
- However, North America and Europe dominate the market for wheat protein with market shares of 29.8% and 32.3%, respectively.
- Key contributing factor for the high production ratio of wheat protein is the growing importance of substitutes of animal protein and dairy products.
- North America and Europe hold around more than half the share of the global market, mainly due to high consumption of wheat protein-based products in these regions.
- Application of wheat protein in nutraceuticals is anticipated to expand at a value CAGR of 4.3%.
- The U.S. and China hold significant shares for wheat protein in North America and East Asia, respectively.
- The COVID-19 pandemic has had a profound impact on wheat protein demand. However, increasing demand for healthy and nutritious food products will offset losses in the near term.
Competitive Landscape
Wheat protein manufacturers are focusing on increasing its application by investing in research & development to develop new products. Manufacturers are expected to continue coming up with numerous innovations to expand their product range. They are constantly making efforts in increasing sales across various application industries.
- In 2019, Blattmann Schweiz AG added a new plant-based protein range to its product portfolio. The company launched organic proteins called Becopulse that are GMO-free and provide high functionality and nutritional properties to different food applications.
- Archer Daniels Midland Company announced the acquisition of Harvest Innovations, a U.S.-based protein and organic product manufacturer. Through this, the company has expanded its business in the organic food and protein markets.
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