Growth Strategies Adopted by Major Players in the Wheat Protein Market

Northbrook, US, 2020-Feb-05 — /EPR Network/ — The global wheat protein market is estimated at USD 2.04 Billion in 2017 and is projected to reach USD 2.58 Billion by 2022, at a CAGR of 4.8% from 2017. The wheat protein market has been largely driven by the growing demand for bakery products, the increasing popularity of plant-based foods, wheat protein being a suitable alternative for non-animal protein among vegans coupled with nutritional benefits for lactose-intolerant consumers.

The key market players adopted various growth strategies such as new product launches, expansions, mergers, and acquisitions to cater to the increasing demand for wheat proteins. These players are focusing on strategic new product launches to enhance their presence in the wheat protein market. For instance, companies such as Cargill and MGP Ingredients are focusing on expanding their product portfolio to strengthen their presence in the wheat protein market. Some key companies also adopted the expansion strategy to reach their wide consumer base in various geographies. For instance, Cargill opened an R&D center in Belgium. The center develops new ingredients for the food industry. Through this, the company expanded its presence in the European region.

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MGP Ingredients, one of the global leaders in the wheat protein market, is the largest supplier of wheat protein in the US. It offers wheat protein products that find applications in bakery products, cereal and snacks, nutritional bars and drinks, processed meat, poultry, and seafood. The company invests in the development of new products to cater to the increasing demand for wheat protein products, majorly for the US market. The company consistently expands its wheat protein products with the addition of a new series. For instance, in 2017, MGP Ingredients expanded its extensive specialty wheat protein portfolio with the addition of textured proteins, including TruTex 751, TruTex 1501, TruTex 2240, and TruTex Redishred 65 textured wheat proteins.

Manildra Group is a key manufacturer of wheat protein in Australia for the bakery industry. The company produces wheat gluten at its Nowra facility, which is the largest wheat starch and gluten plant worldwide. The company focuses on new product launch to strengthen its position in the wheat protein market. For instance, in 2017, the company launched GemPro Ultra, a hydrolyzed wheat protein, having applications in powdered/liquid beverages, energy drinks, nutritional bars, bakery products, snacks, and vegetarian/vegan foods.

Europe is estimated to occupy the largest share of the global market, in terms of value, in 2017, owing to the mature wheat protein industry and the presence of major companies such as Agrana (Austria), Tereos Syral (Germany), Roquette (France), Crespel & Deiters (Germany), CropEnergies (Germany), and Kröner-Stärke (Germany). 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. In the Asia Pacific region, India is projected to be the fastest-growing market during the forecast period. The growing trend of pet humanization, large-scale production of wheat, growing investment by multiple brands, and government support such as FDI, farmer subsidy, and low labor cost are expected to drive the wheat protein market growth in India. Key players in Europe and the US are expected to focus on the untapped opportunity in the wheat protein market in countries such as India and China, owing to which the Asia Pacific is expected to witness high growth in the coming years.

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The key players in the wheat protein market which have a strong global presence include ADM (US), Cargill (US), Agrana (Austria), MGP Ingredients (US), and Manildra Group (Australia). Other players include Roquette (France), Glico Nutrition (Japan), Crespel & Deiters (Germany), Kröner-Stärke (Germany), Tereos Syral (Germany), CropEnergies (Germany), and Gluten y Almidones Industriales (Mexico).

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