CHICAGO — According to a new report, “Wheat Protein Market by Product, Application, Form and Region” from research firm MarketsandMarkets, the wheat protein market is predicted to see $3.1 billion growth by 2026, indicating a 5% CAGR during the forecasted period.
The firm attributed the growth to factors such as increased consumer preference for plant-based protein foods, higher demand for meat-free diets, and growing incidence of lactose intolerance.
Wheat gluten will play the biggest role, the report indicated, noting that wheat gluten was estimated to account for the largest share of the wheat protein market in 2020, thanks to its use in applications such as bakery products, meat products, pasta, and pet foods.
Additionally, MarketsandMarkets identified dry forms of wheat protein as preferred by manufacturers due to benefits including better stability and ease of handling and better storage conditions, as compared to liquid forms.
Presence of major players offering a wide variety of wheat products having applications in bakery is one of the key drivers for growth in the bakery and snack segments. Increasing consumer preference for ready-to-eat products has led the demand for bakery products, and 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.
