Wheat Protein Market to Witness Robust Expansion throughout the Forecast 20232033

Introduction

The global wheat protein market has been experiencing robust growth, with a historical period assessment indicating a steady 4.5% compound annual growth rate (CAGR) from 2018 to 2022. In 2023, the market reached a remarkable milestone, registering sales of US$ 3,286.1 million. The future outlook for this market is promising, with projected sales of US$ 5,249.1 million by 2033, showcasing a projected CAGR of 5.4%. This article explores the factors contributing to the markets growth, emerging trends, and the impact of wheat protein consumption in various industries.

Wheat Protein Market Overview

Key Insights:

• Wheat Protein Market Size (2023E): US$ 3,286.1 Mn
• Projected Sales of Wheat Protein (2033F): US$ 5,249.1 Mn
• Value CAGR (2023-2033): 5.4%
• Value Share of Top 4 Countries (2022 A): ~40%

Wheat Protein Consumption Analysis: 2018-2022 vs. Market Estimations: 2023-2033

The global wheat protein market has witnessed substantial growth, recording a CAGR of 4.5% in the historical period, with a market value of US$ 3,286.1 Mn in 2023. The markets growth can be attributed to the increasing demand for plant-based proteins and the rising popularity of wheat protein products.

The markets upward trajectory is fueled by consumer awareness regarding healthy dietary choices and an active lifestyle. Heightened health consciousness, driven by the prevalence of heart diseases, inflammation, and diabetes, has led consumers to opt for plant-based wheat protein in their food products. Technological advancements in nutraceuticals have also contributed to the growing use of wheat protein, with North America and Europe being major hubs for this demand due to their dominance in the food industry.

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Key Trends in the Wheat Protein Market

1. Increased Consumption of High Protein Diet: Growing awareness of the health benefits associated with high-protein diets has led to increased demand for protein-rich products, such as cereals, bakery items, and confectionaries. Wheat protein, a key ingredient in many bakery products, provides essential protein, aiding in muscle strengthening and digestion. The demand for high-protein products is expected to surge in the coming years, driving the growth of the wheat protein market.
2. Shifting Consumer Preferences for Organic Products: Health-conscious consumers are increasingly opting for natural, clean-label products. Awareness about the potential health risks posed by artificial additives, colors, and GMO components has led to a preference for healthier and more natural alternatives. Clean-label, gluten-free, and non-GMO wheat protein products are gaining popularity among health-conscious consumers.
3. Growing Demand for Dairy Products and Animal Protein Substitutes: Wheat protein products offer high protein content and nutritional benefits, making them a suitable substitute for animal protein products. The animal feed segment is expected to reach nearly US$ 810 Mn by the end of 2031, with increasing demand for alternative protein sources. Plant-based food products, including wheat protein, are gaining popularity in North America and Europe due to their health benefits, similar to animal and dairy proteins. Manufacturers are introducing various wheat protein varieties to cater to changing consumer preferences.
4. Increased Usage of Wheat Protein in Various End-user Industries: Wheat proteins functional properties make it versatile in various applications across multiple industries. It is widely used in bakery foods, confectioneries, snacks, cereals, dairy fillings, and more to improve dough strength and product shelf life. Additionally, wheat protein is gaining traction in the cosmetics industry due to its emulsifying properties. Athletes and fitness enthusiasts prefer wheat protein for its low calorie and high nutritional value, aiding in glucose level regulation. This increased versatility is driving market growth across various sectors.
5. Consumer Demand for Gluten-free Products: The consumption of gluten-free products is on the rise as more consumers opt for gluten-free diets for health reasons. People with celiac disease and non-celiac gluten sensitivity, as well as those aiming for weight loss and reduced risk of cardiovascular diseases, are avoiding gluten. The gluten-free trend, supported by endorsements from celebrities, is impacting the growth of the wheat protein market.

Country-wise Insights

East Asia Outlook for the Wheat Protein Market:

• China dominates the East Asian market, boasting a market share of 63.3% for the projected period from 2023 to 2033. The growth is driven by health-conscious consumers and a growing vegan population.
• The healthcare and cosmetics sectors in China, South Korea, and Japan are experiencing industrial growth, with expanding domestic demand fueling the demand for wheat protein.

Growing Demand for Wheat Protein in France:

• Frances market is witnessing significant growth at a rate of 4.9% over the forecast period. This is attributed to the increasing demand for high-quality French bakery products and the rising consumption of functional foods.
• Wheat protein is preferred over meat and dairy proteins by bakery product manufacturers when developing new products, as France is renowned for its delectable pastries and croissants.

Category-wise Insights

Form of Wheat Protein with High CAGR:

• Wheat protein isolate is expected to witness the highest CAGR of 5.0% during the forecast period. This protein-rich dietary supplement is extensively used in sports supplements.
• Wheat protein isolate promotes muscle development, reduces muscle breakdown, stimulates protein synthesis, enhances strength for workouts, and controls hunger cravings.

Wheat Proteins Impact on Sports Athletes:

• Wheat protein isolates are recommended for lactose-intolerant individuals and those with gastric or bloating issues, as they inhibit lactose absorption. These isolates also stimulate higher insulin levels, directly benefiting athletes during sports training.
• The sports nutrition and weight management segment is expected to grow at a CAGR of 5.0% from 2023 to 2033.

Competitive Landscape

The global wheat protein market is characterized by a mix of large-scale international and local businesses. Multinational companies with diverse product portfolios account for approximately 25-35% of the global market. Key players in the market include Tereos, Roquette Freres, Cargill, Archer Daniels Midland Company, and MGP, among others.

These companies are continuously innovating and expanding their product offerings. For example, Cargill introduced plant-based patty and ground products in 2020 to cater to the increasing global demand for both animal and alternative protein products.

Additionally, companies like BENEO have invested in the construction of production plants for vegetable protein to meet the growing consumer demand for natural, clean-label products.

In conclusion, the global wheat protein market is witnessing substantial growth, driven by shifting consumer preferences towards healthier and more natural food options, increased demand for high-protein diets, and versatile applications across various industries. As the market continues to evolve, both multinational and regional players are poised to capitalize on this growing demand for wheat protein.

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