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The wheat protein market was valued at US$ 4,083.05 million in 2021 and is projected to reach US$ 4,788.49 million by 2028; it is expected to grow at a CAGR of 2.3% from 2021 to 2028
Number of Pages: 174. Category – Food and Beverages. Wheat Protein Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product (Wheat Gluten, Wheat Protein Isolates, Textured Wheat Protein, and Hydrolyzed Wheat Protein), Form (Dry and Liquid), and Application (Bakery & Snacks, Pet Food, Nutritional Bars & Drinks, Processed Meat, Meat Analogs, and Others).
New York, June 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wheat Protein Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Form, and Application" - https://www.reportlinker.com/p06232624/?utm_source=GNW
The wheat protein market was valued at US$ 4,083.05 million in 2021 and is projected to reach US$ 4,788.49 million by 2028; it is expected to grow at a CAGR of 2.3% from 2021 to 2028. Wheat proteins are plant-based proteins primarily obtained by processing wheat using different enzymes. It is a vegetarian protein source for vegans. Thus, wheat proteins are widely used in bakery products. Also, wheat protein is among the primary ingredients essential in several cosmetic formulations. Various haircare and skincare formulations are created utilizing wheat proteins.
Based on product, the global wheat protein market is segmented into wheat gluten, wheat protein isolates, textured wheat protein, and hydrolyzed wheat protein.The market for the textured wheat protein segment witnessed a rapid growth in 2020.
Textured wheat protein is prepared from wheat flour and is extruded into various shapes, such as chunks, flakes, nuggets, grains, and strips.It is used for protein enrichment in baked goods; as a meat extension in meat products such as nuggets, raw sausages, and meat emulsions.
Due to the broader application of textured wheat protein, the wheat protein market is booming at a rapid pace.
Geographically, the wheat protein market is segmented into North America, Europe, Asia Pacific, South and Central America, and Middle East & Africa.In 2020, Europe accounted for the largest share in the market.
Europe comprises several key economies, such as Germany, France, Italy, the UK, and Russia.The growing trend of vegan diets and the use of wheat proteins in processed foods, such as protein chocolate powder and protein bars are the primary factors driving the market growth in Europe.
Further, consumers are now skeptical about consuming animal-based protein products due to the growing incidence of allergies.Wheat-based protein products, on the other hand, have gained traction owing to the presence of an abundant amount of nutrients.
The trend is expected to boost the demand for wheat protein products in European countries during the forecast period.
The ongoing COVID-19 pandemic has negatively influenced the growth of the wheat protein market owing to various factors such as the shortage of raw material and labor, and the shutdown of factories.The manufacturers of wheat protein faced difficulties during the initial months of the pandemic.
However, the countries are reviving their operations.Besides, there is a massive demand for wheat protein from the food & beverages industry and the demand for healthy and functional bakery products is increasing among the consumers.
All these factors are predicted to bolster the wheat protein market growth globally in the coming years.
Archer Daniels Midland Company; Roquette Frères; Glico Nutrition Co.,Ltd; Kröner-Stärke GmbH; Cargill, Incorporated; Crespel & Deiters GmbH & Co. KG; CropEnergies AG; Manildra Group; MGP Ingredients Inc.; and Tereos Group are among the well-established players operating in the global wheat protein market.
The overall global wheat protein market size has been derived in accordance with both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global wheat protein market.
Read the full report: https://www.reportlinker.com/p06232624/?utm_source=GNW
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