Selbyville, DE -- (ReleaseWire) -- 04/19/2018 --The Industry analysis report "Wheat Protein Market Size By Product (Wheat Gluten, Wheat Protein Isolate, Textured Wheat, Hydrolyzed Wheat Protein), By Application (Animal feed, Bakery & confectionary, Nutrition Supplements, Dairy Products, Cosmetics & Personal Care), By Form (Dry, Liquid), By Concentration (75%, 85%, 95%), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" by Global Market Insights, Inc. says Wheat Protein Market share is expected to cross $2.5 billion by 2024.
Growing health concern among consumers and need to avoid unhealthy occurrences such as lactose intolerances is fueling demand for vegan nutritive protein products. Surging adoption of plant-based food products to reduce the risk of diabetes and obesity will fuel wheat protein market growth during a forecast time frame.
Several organizations are involved into wheat protein product development. For instance, an International wheat gluten association is working with food technologist for research on several food applications and new product development to enhance food flavor, appearance, nutrition, and cost. Changing lifestyle coupled with the adoption of RTE products and packaged food, including instant noodles & pasta is driving market penetration.
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Noodles and pasta industry was registered over USD 59 billion revenue in 2016. Companies such as Nestle, Nissan Food, Heinz, ITC, Heinz, and Unilever has increased the usage of wheat proteins in the manufacturing of noodles and pasta, which in turns propelling industry growth of wheat protein market. Several conditions such as, prepackaged pasta must have water more than 24% content which can be easily achieved from gluten.
These products may not be suitable for every consumer owing to the presence of high protein concentration that can cause stomach ailments. Increasing awareness of gluten-free food products and rising incidences of gluten intolerance among consumers may hamper wheat protein market growth.
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Wheat protein isolate market will witness sales over USD 800 million by 2024. Increasing fitness awareness among the large population in North America and the Asia Pacific drives demand for health supplements, nutritional products and energy drinks. Sportsperson and athletes primarily need protein intake to cope up for body nutrition during training, daily exercises and practice performances, thus stimulating product demand.
Hydrolyzed wheat protein market is projected to observe over 3% growth up to 2024. Rising demand for natural personal care products including shampoo, masks, hair conditioning and body moisturizers will propel product demand. These ingredients are widely utilized owing to its nourishing benefits associated to improve skin and hair health. It also acts as an emulsifying agent utilized in the manufacturing of cosmetic products.
Bakery & confectionery applications accounted for over 50% of the global industry share. Rising consumer spending on RTE products, instant food, and beverages are the key drivers generating product demand. Complex manufacturing procedure and unstable raw materials during baking need value-added ingredients such as gluten to improve stability and elasticity.
Dry form demand stood over 500 kilotons in 2016. It is the most preferred form due to better stability, easy to measure and less threat of contamination are the key factors driving demand in this segment.
The Asia Pacific wheat protein market is anticipated to observe the significant industry growth during the forecast time owing to large consumer population supporting demand. Cosmetic industry growth owing to increasing awareness and rapid urbanization is the instigating usage of personal care products, thus fueling regional industry growth of wheat protein market.
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Major industry players in wheat protein market include Roquette, Agrana, Karner-Strike, Crespel & Deiters, Tereos Syral, CropEnergies, and ADM. Mostly, companies are into product portfolio expansion and new product development for novel applications. Other companies are Gluten y Almidones Industrials, Glico Nutrition, Manildra Group, MGP Ingredients.
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World Wheat Protein Market Record Moderate CAGR of 4% to Cross $ 2.5 Billion by 2024
North America wheat protein market share was worth over USD 750 million in 2016 and projected to achieve healthy growth in coming years, propelled by increasing demand of RTE products owing to high disposable income of middle class population.