Exhibiting a CAGR of 4.9%: The Wheat Protein Market Size to Reach $3.2 billion by 2028, Says MarketsandMarkets™

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As per the report by MarketsandMarkets, the global Wheat Protein Market size is projected to reach USD 3.2 billion in 2028, at a CAGR of 4.9% during the forecast period, 2023-2028. Increasing demand for plant-based proteins: The growing trend towards vegetarian and vegan diets, along with increasing health consciousness, is driving the demand for plant-based proteins, including wheat protein.

Chicago, April 28, 2023 (GLOBE NEWSWIRE) — The global wheat protein market size was valued at USD 2.5 billion in 2023. The market is estimated to expand USD 3.2 billion in 2028, exhibiting a CAGR of 4.9% over the projected period.  The market for wheat protein by concentration is experiencing growth due to the increasing demand for plant-based protein products in food & beverages, dietary supplements, and animal feed industries. MarketsandMarkets™ provides this information in its research report, titled “Wheat Protein Market Global Forecast, 2023-2028”.

Key Industry Development:

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Key Industry Development:

Owing to the increase in demand for meat-free diets, rising obesity cases resulting in demand for low-calorie foods, and consumers seeking healthy foods. Wheat gluten, being rich in proteins, is a suitable option and has boosted the demand for it in the global wheat protein market.

Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2023-2028
Forecast Period 2023 to 2028 CAGR 4.9%
2028 Value Projection USD 3.2 billion
Segments covered Application, Form, Product, Concentration, Region
Regional scope North America, Europe, Asia Pacific, and RoW
Dominant Geography Europe

Key Takeaways:

  • Wheat Protein Market size was valued at USD 2.5 billion in 2023.
  • The market for wheat protein by concentration is experiencing growth due to the increasing demand for plant-based protein products in food & beverages, dietary supplements, and animal feed industries.
  • The market is highly competitive, with numerous players operating in the industry. Key players include ADM, Tereos, Südzucker AG, MGP Ingredients, Roquette Frères etc.
  • North America to boost wheat protein market growth during the forecast period.

Drivers and Restraints:

Increase in consumer preference for meat analogs

Various plant-based alternatives to meat products have acquired an increasingly growing market globally. Consumers demand meat alternatives that emulate the fibrous structure, texture, and mouthfeel of meat products. This has increased interest in developing plant protein-based meat alternatives globally. Rising awareness about healthy and nutritious food options among consumers has also led to a growing number of new consumer groups called “flexitarians” looking to reduce their daily meat consumption. This gradual shift in consumers’ eating patterns has also led to the creation of novel products aimed at fulfilling consumer demand for meat products, which act as the perfect substitute not only for their taste but also for their high protein nutritional value. For instance, academic researchers and many small and medium-sized enterprises have successfully developed new meat alternatives under the European research project called LikeMeat. The project created fibrous meat-like structures from plant proteins using an adapted cooking extrusion process, which was eventually processed into different food products.

Ban on plant proteins and wheat of GM origin

Research studies have cited many health and environmental risks associated with the production and consumption of genetically modified (GM) commodities, including soybean, pea, and wheat. They are opposed by the various industry stakeholders, including regulatory bodies of countries in Europe and Asia Pacific, who are demanding non-genetically modified (non-GMO) sources of plant-based proteins. Thus, most of the countries in these regions have made it mandatory to declare the GM/non-GM status of food ingredients on the packaging of all processed foods. India also brought into effect, in 2013, the rule that packaged food products containing GM products as ingredients should carry labels as a mandate. Some European countries, such as Germany and the UK, have made it mandatory even for dairy and processed meat products. A legal ruling in Argentina’s Province of Buenos Aires has officially barred the release of HB4, the first-ever GMO wheat. The group “Un Trigo de Libertad” put forth a case that gathered substantial evidence of the risks associated with introducing a new GMO, describing the new creation as exotic and invasive and warning that it could result in irreversible genetic contamination of native Argentine wheat varieties.

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Segments:

Adoption of plant-based meat substitutes is projected to drive the demand for textured wheat protein

Textured wheat protein, also known as wheat meat, wheat gluten, or seitan, is a popular plant-based protein source used as a meat substitute for many years. A study published in the journal, Foods, in 2021 found that the demand for meat substitutes, including textured wheat protein, is increasing worldwide due to health, ethical, and environmental concerns associated with meat consumption. In 2019, a survey by the International Food Information Council found that 22% of US consumers reported consuming plant-based meat substitutes, including textured wheat protein, at least once a week.

Therefore, the demand for textured wheat protein is increasing globally, driven by factors such as the growing popularity of plant-based diets and the increasing demand for sustainable and ethical food products.

Regional Insights:

In North America, the demand for wheat protein is increasing due to the rising vegan population and the increasing awareness of the health benefits of plant-based proteins. The United States is the largest consumer of wheat protein in the region, and there is a growing trend towards using wheat protein in the manufacturing of plant-based meat substitutes.

In Europe, the demand for wheat protein is also growing due to the increasing popularity of vegetarian and vegan diets. Germany and France are the largest consumers of wheat protein in the region, with a focus on using it in bakery products and meat substitutes.

In the Asia-Pacific region, the demand for wheat protein is mainly driven by China, which is the largest consumer and producer of wheat protein globally. The growth in the demand for wheat protein in China is due to the increasing health consciousness and the trend towards plant-based diets.

In Latin America, the demand for wheat protein is growing, but it is still relatively low compared to other regions. The focus is primarily on using wheat protein in bakery products and snacks.

In the Middle East and Africa, the demand for wheat protein is limited due to the dominance of traditional meat-based diets. However, there is a growing trend towards plant-based diets, and the demand for wheat protein is expected to increase in the future.

List of Key Players Mentioned in the Report:

  • ADM (US)
  • Cargill, Incorporated (US)
  • Tereos (France)
  • Südzucker AG (US)
  • MGP Ingredients (US)
  • Roquette Frères (France)
  • Glico Nutrition Foods Co., Ltd. (Japan)
  • Kerry Group PLC (Ireland)
  • Manildra Group (Australia)

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Frequently Asked Questions (FAQs):

How big is the wheat protein market?

The wheat protein market size was USD 2.5 billion in 2023. It is expected to reach USD 3.2 billion in 2028.

How fast is the wheat protein market growing?

The wheat protein market will exhibit a CAGR of 4.9% during the forecast period, 2023-2028.

What are some of the key applications of wheat protein in the food industry?

Wheat protein is commonly used as a functional ingredient in a wide range of food products, including baked goods, snacks, meat analogues, and others.

What are some of the challenges facing the wheat protein market?

Some of the challenges facing the wheat protein market include competition from other protein sources, concerns about gluten intolerance and allergenicity, and regulatory restrictions on the use of wheat-based ingredients in certain applications.

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Related Reports:

Textured Vegetable Protein Market

Plant-based Protein Market

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