CHICAGO, March 5, 2021 /PRNewswire/ -- According to the new market research report "Wheat Protein Market by Product (Wheat Gluten, Wheat Protein Isolate, Textured Wheat Protein, Hydrolyzed Wheat Protein), Application (Bakery, Pet Food, Nutritional Bars, Processed Meat, Meat Analogs), Form (Dry, Liquid), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Wheat Protein Market is projected to reach USD 3.1 billion by 2026, from USD 2.4 billion in 2021, at a CAGR of 5.0% during the forecast period. The market is driven by factors such as a shift in preference for plant-based protein foods, increased demand for meat-free diets, and growing incidence of lactose intolerance.
Wheat gluten segment is estimated to account for the largest share of the wheat protein market during the forecast period
Based on the product, the wheat protein market has been segmented into wheat gluten, wheat protein isolate, textured wheat protein, and hydrolyzed wheat protein. The wheat gluten segment is estimated to account for the largest share of the wheat protein market in 2020. It is used in a variety of applications such as bakery products, meat products, pasta, and pet foods. In a bakery, the strength of gluten is a key factor in bread baking. It plays an important role as it contributes to the ability of the dough to rise and maintain texture.
Dry form segment is projected to be the fastest-growing during the forecast period
Dry forms are the most popular forms of wheat protein preferred by manufacturers due to their several benefits, including better stability and ease of handling & better storage conditions as compared to liquid forms.
The bakery & snacks segment, by application, is estimated to accounted for the largest share of the wheat protein market during the forecast period
The bakery & snacks segment, by application, is estimated to account for the largest share of the wheat protein market in 2020. Presence of major players offering a wide variety of wheat products having applications in bakery is one of the key drivers for the bakery & snacks segment. This shift in consumer preference toward ready-to-eat products has increased the demand for bakery products. In Europe, rise in the aging population and growing health concerns have urged consumers to opt for healthier alternatives such as value-added baked goods.
Europe is estimated to account for the largest share of the wheat protein market during the forecast period
In 2020, Europe is estimated to account for the largest share of the wheat protein market. Factors such as the growing investments by major players in the bakery industry, growing trend of vegan diets, and abundant availability of raw materials such as wheat in this region have boosted the demand for wheat protein products in the European market. Furthermore, increased demand for bakery items such as cakes, pastries, and cookies will also drive the demand for wheat protein in the region.
This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as ADM (US), Cargill (US), Agrana (Austria), MGP Ingredients (US), Manildra Group (Australia), Roquette (France), Glico Nutrition (Japan), Crespel & Deiters (Germany), Kröner-Stärke (Germany), Tereos Syrol (France), CropEnergies (Germany), and Gluten y Almidones Industriales (Mexico), Batory Foods (US), Kerry Group (Ireland), BENEO (Germany), Agridient Inc (US), AMCO Proteins (US), Tate & Lyle (UK), and PureField Ingredients (US).
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