Wheat Protein Global Market Report 2023
Major players in the wheat protein market are ADM (Archer Daniels Midland ), Cargill, Agrana, MGP Ingredients, Roquette, Glico Nutrition, Tereos Syrol, Agridient, Manildra Group, Crop Energies, Kröner-Stärke, Crespel and Deiters GmbH, AB Amilina, Xi’an Sheerherb Biotechnology Co.
New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wheat Protein Global Market Report 2023" - https://www.reportlinker.com/p06311748/?utm_source=GNW
, BASF SE, Kerry Inc., Permolex, Chamtor, Sedamyl, Royal Ingredients Group, Meelunie B.V., Bryan W Nash & Sons, and Aminola.
The global wheat protein market grew from $3.08 billion in 2022 to $3.29 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The wheat protein market is expected to grow to $4.12 billion in 2027 at a CAGR of 5.8%.
The wheat protein market consists of sales of glutenin, gliadin, soy protein, proteins, amino acids.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The wheat protein are used for bread and noodle-making as it creates an elastic texture for achieving a high level of dough strength.Wheat protein isolate is a popular sports nutrition supplement among bodybuilders and strength-training athletes because of its high protein content, which may aid muscle building.
In the cosmetic industry, it is also used as a supplement to enrich hairs in their hydrolyzed form.
North America was the largest region in the wheat protein market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the wheat protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in wheat protein are gluten, protein isolate, textured protein, hydrolyzed protein, and others.Gluten is a protein that can be found in a variety of foods, including bread, pizza, pasta, and cereal.
The different natures include organic, and conventional, and involve various forms such as dry and liquid. It is used in dairy, bakery and snacks, animal feed, confectionary, processed meat, nutritional supplements, and other applications.
The increasing demand for substitutes for animal protein and dairy products is significantly contributing to the growth of the wheat protein market going forward.The popularity of vegan protein sources and the wide availability of vegan proteins in retail and food stores around the world make it an easy alternative for customers to choose plant-based proteins instead of animal-based, which has led to a shift of consumers from animal products to plant products.
For instance, in 2021, according to the Health and Nutrition Survey (IFIC), conducted by the International Food Information Council, a US-based non-profit organization, around one-quarter of adults consume more plant-based food compared to animal-based food in 2020.Furthermore, For instance, according to Good Food Institute, a US-based non-profit organization to promote plant-based and cell-based alternatives to animal products, sales of plant-based foods increased three times more quickly than those of non-plant-based meals as compared to its previous years in the year 2021 in the US.
Therefore, increasing demand for substitutes for animal-based proteins and dairy products is driving the growth of the wheat protein market.
Strategic partnerships have emerged as a key trend gaining popularity in the wheat protein market.Major companies operating in the wheat protein sector are focused on partnerships to meet consumer demand.
For instance, in 2021, Archer Daniels Midland (ADM), a US-based company offering a full portfolio of textured soy, wheat, and pea proteins, partnered with Farmers Business Network (FBN), a US-based company that uses a platform to measure and verify the carbon score of grain and other crops.This partnership helps to combine ADM’s worldwide scale and expertise with FBN’s cutting-edge digital farm commerce and data-analytics capabilities to find possibilities to boost farmer profitability, improve sustainable farming practices, and provide farmers with convenience and product accessibility.
Furthermore, in 2020, Beyond Meat, a US-based company that provides plant-based meat, partnered with Roquette, a French-based company that offers a wide range of proteins from plants, including pea protein, wheat protein, corn gluten meal, and potato protein. This collaboration builds on a ten-year relationship and significantly increases the amount of pea protein Roquette supplies to Beyond Meat over the next three years compared to what was previously delivered.
In May 2021, JBS, a Brazilian-based food processing company, acquired Vivera for a deal amount of €341 million ($409 million).Through this acquisition, JBS has strengthened and boosted its position in the burgeoning alt-protein market by adding a brand to its existing animal-free portfolio that is well-established in consumer preference.
Vivera is a Netherlands-based company operating in plant-based protein.
The countries covered in the wheat protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The wheat protein market research report is one of a series of new reports that provides wheat protein market statistics, including global market size, regional shares, competitors with a wheat protein market share, detailed wheat protein market segments, market trends and opportunities, and any further data you may need to thrive in the wheat protein industry. This wheat protein market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06311748/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001