The Wheat Protein market was valued at US$ 2,001.92 million in 2018 and is expected to grow at a CAGR of 5.4% from 2019 to 2027 to reach US$ 3,197.21 million by 2027.
Wheat proteins are defined as plant-based proteins which are mainly extracted by processing wheat using different enzymes. These proteins are a type of insoluble functional protein which possesses unique visco-elastic characteristics and offer elasticity and extensibility to the product. They are considered as a viable alternative for animal-based protein and are widely used across several end use application such as bakery & confectionary, animal feed, nutrition supplements, cosmetics & personal care and others. The growing number of vegan population along with rise in demand for plant sourced foods is influencing the growth of wheat protein market. On the basis of geography, Asia-Pacific wheat protein market is expected to grow at the highest CAGR. Factors such as overall growth of the economy, rising population, increasing awareness on low calorie & nutritional food changing demographics in terms of consumer life style, and booming food & beverage industry are driving the market for wheat protein in the Asia Pacific region. Improved lifestyle and growing economy are some of the other key dynamics that are contributing to the growth of the wheat protein market.
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Rising Application of Wheat Protein in Several End-User Industries is Driving the Market
The eating patterns of consumers have been drastically changed owing to increasing westernization and growing globalization. The growth of various fast food products is driven by rising working population and increasing youth population. Packaged bakery and snack products are being increasingly consumed across the world. In Europe, growing health concerns and surge in aging population have urged consumers to opt for healthier food substitutes such as value-added baked goods. This change in consumer preference toward ready-to-eat foodstuffs has augmented the demand for bakery products, thereby influencing the growth of the wheat protein market. Also, the increasing demand for premium pet food products from developing and developed countries is one of the key driving factors for the wheat protein market growth. Moreover, the rising cognizance about the benefits of commercially manufactured dog food and growing concerns about pet health has led to remarkable growth in the wheat protein market globally. Wheat protein has gained substantial traction from meat, fish, and poultry products processers for its excellent binding and filler properties. Wheat protein has been perceived to be widespread among gym-obsessed and athletes for enhancing strength and muscle gain. Consumer preferences toward meat-free diets are a key driving factor for the use of plant-derived proteins such as wheat protein in several consumable ready-to-eat products.
The Table of Content for Wheat Protein Market research study includes:
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