The wheat protein market is estimated at USD 2.4 billion in 2021 and is projected to grow at a CAGR of 5.0%, to reach USD 3.1 billion by 2026. The market is driven by the shift in the preference for plant-based protein foods, increased demand for meat-free diets especially in Europe, and growing incidences of lactose intolerance.
The key players in the wheat protein market which have a strong global presence include ADM (US), Cargill (US), Agrana (Austria), MGP Ingredients (US), and Manildra Group (Australia). Other players include Roquette (France), Glico Nutrition (Japan), Crespel & Deiters (Germany), Kröner-Stärke (Germany), Tereos Syral (Germany), CropEnergies (Germany), Batory Foods (US) and Gluten y Almidones Industriales (Mexico).
The key market players adopted various growth strategies such as new product launches, expansions, mergers, and acquisitions to cater to the increasing demand for wheat proteins. These players are focusing on strategic new product launches to enhance their presence in the wheat protein market. For instance, companies such as Cargill and MGP Ingredients are focusing on expanding their product portfolio to strengthen their presence in the wheat protein market. Some key companies also adopted the expansion strategy to reach their wide consumer base in various geographies. For instance, Cargill opened an R&D center in Belgium. The center develops new ingredients for the food industry. Through this, the company expanded its presence in the European region.
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Archer Daniels Midland Company (ADM) is a food manufacturing company that is primarily engaged in the agricultural processing and manufacturing of food ingredients. The company operates through four major segments, namely food & beverages, animal nutrition, industrials, and fuels. It offers its plant protein products under the food & beverage segment, which are used mainly in food applications such as bakery, snacks, confectionery, and cooking. The company is engaged in enhancing its market presence in the global plant-based protein market through expansions. In September 2020, the company launched Prolite MeatTEX textured wheat protein and Prolite MeatXT non-textured wheat protein, which contribute meat-like texture to meat and seafood alternative products.
Cargill is involved in the production of food, agriculture, financial, and industrial products. The company operates through 11 major segments, namely, agriculture, animal nutrition, beauty, bioindustrial, food & beverage, foodservice, industrial, pharmaceutical, meat & poultry, transportation, and risk management. It offers its plant protein products under its food & beverages segment, which are used in various food applications such as bakery, snacks, confectionery, and cooking. The company is engaged in enhancing its market presence in the global plant-based protein market through agreements. In July 2019, the company invested USD 200 million for the production of wheat based ingredients at its manufacturing facility at Krefeld, Germany. This investment will help the company to expand its wheat protein portfolio and to meet the increasing market demand for protein rich foods.
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
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