Consumers favor food products that offer various nutritional and health benefits. In order to meet this growing consumer demand, food manufacturers are using functional ingredients in their food products. Plant-based proteins such as wheat protein are the most common functional ingredients, containing all essential amino acids and nutritional ingredients required by the human body.
Apart from that, wheat protein also improves the taste, texture, hydration, and flowability of finished products. Furthermore, wheat protein is used as a functional ingredient in different food applications such as nutritional bars and drinks, breakfast cereals, sports nutrition products, pasta, and others.
Consumers are opting for food products that can provide multiple benefits, and wheat protein is utilized as a functional ingredient in most food applications, which is escalating the growth of the global wheat protein market.
Find Out More about the Report Coverage
- Roquette Frères
- Cargill Incorporated
- The Archer Daniels Midland Company
- Manildra Group USA
- Meelunie B.V.
- Royal Ingredients Group
- Bryan W Nash & Sons Ltd
- Dutch Organic International Trade
- Costantino & C. spa
- Sacchetto SpA
- GC Ingredients Inc.
- Glico Nutrition Co., Ltd.
- Blattmann Schweiz AG
Increasing Health-conscious Population Providing Opportunities for Wheat Protein Market
The food industry has drastically changed over the past couple of years, and increasing health consciousness is one of the main reasons for this change. Adoption of a healthy lifestyle is increasing in consumers. Consumers desire more nutritional and health benefits, and are finding different ways to include these nutrients in their diets.
Furthermore, they are becoming aware of artificial ingredients and preservatives used in food applications, which can cause different health issues. This has influenced them to consume healthy food, where more plant-based ingredients are used. Hence, increasing health consciousness among consumers is also providing better growth opportunities for the wheat protein market.
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Growing Consumption of Protein in Daily Diet
Increased demand for protein arising from population growth, and rising demand for protein, globally, are driven by socio-economic changes such as rising incomes, increased urbanization, and aging populations, whereby, the contribution of protein to healthy aging is increasingly being recognized, and also recognition of the role of protein in a healthy diet.
Economic development and increased urbanization are leading to major transitions in population-level dietary patterns in low- and middle-income countries in particular, such that, most of the global increase in demand for food of animal origin are seen in developing countries.
Following a high protein diet has been increasing due to growing awareness of the benefits of protein. Consumers have become more health conscious and are seeking high-nutrient diets.
There are several high protein food items, including breakfast cereals, prepared snacks, and bakery foods, which are being favored by consumers. Wheat protein is one of the vital sources of protein, as it has protein content between 75-90%, and offers health benefits such as strengthened muscles, improved digestibility, and others. This high protein consumption trend is expected to continue for a long time ahead, and will be beneficial for the growth of the wheat protein market.
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Europe and North America Dominating Global Wheat Protein Market
North America and Europe are witnessing a prominent market value share in the global wheat protein market. Higher consumption of plant-based protein in Europe is among the major contributing factors for this higher market share.
Major wheat protein manufacturers are also headquartered in Europe, which is a considerable factor for the higher consumption rate of wheat protein in the region.
North America, with its highly advanced food and beverage industry, also exhibits a major market value share in the global wheat protein. North American consumers are avoiding animal protein and substituting it with plant protein, such as wheat protein, which is playing the prime role in the higher North America market value share.
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COVID-19 Impact on Wheat Protein Market
The wide spread of coronavirus has already impacted the global economy, and it is continuing to affect other industries, sectors, and markets too. Seasonality of the crop is a key factor for the agriculture industry to detect the level of impact of both, the epidemic and pandemic. Wheat is a yearly crop, and it takes one year to complete its life cycle.
The COVID-19 outbreak has slightly impacted the agricultural sector due to various reasons, and it has also influenced the demand for wheat and wheat-based products across the globe. The level of impact is not calculative at the moment, as the exact level of production impact has not being disclosed as of now.
The wheat protein market may suffer slightly due to the COVID-19 disease outbreak, as food consumption has reduced due to this global pandemic. The combined effect on production, supply, and demand of major commodities has slowed the production of key food ingredients, including the wheat protein.
The supply chain of wheat-based products has been impacted, which has affected the production of wheat protein. Many major economies have declared a national emergency, and opted for total lockdowns. Transportation systems have collapsed, and from this point, disturbances in the supply chain started to occur. Wheat protein manufacturers are facing challenges in procurement of raw material, product processing, shortage of labor, and distribution level challenges.
Nevertheless, post-crisis will observe a boost in the demand and recovery of value loss observed in the second quarter of 2020. The prices of wheat protein may get affected, but this will not be a factor that manufacturers will worry about. These factors are anticipated to leave a fair impact on the global wheat protein market, for at least the next couple of quarters in the current year.
The global wheat protein market is witnessing extensive growth, with South Asia and East Asia projected to offer potential opportunities during the forecast period of 2020-2030. Increasing use of wheat protein in bakery products is a considerable factor for the growth of the global wheat protein market in the foreseeable future.
Leading market players such as Archer Daniels Midland Company, Cargill, Roquette Frères, Royal Ingredients Group, and others are focusing on business expansion and acquisitions to strengthen their position in the global wheat protein market. Increasing geographical expansion and improvement in quality are other strategies being adopted by key players to gain a competitive edge in the global wheat protein market.
Key Segments of Global Wheat Protein Market
PMR’s report on the global wheat protein market offers information divided into four segments - nature, type, application, and region.
Key Questions Answered in PMR’s Global Wheat protein Market
- Which region will hold the highest market share in the global wheat protein market during the forecast period?
- Which region is experiencing the highest growth (CAGR)?
- Which factors are impacting the global wheat protein market?
- What are the global trends impacting the wheat protein market?
- What strategies must emerging players adopt to capture opportunities in various regions in the wheat protein market?
- What is the market structure of the global wheat protein market?