Hydrolyzed Wheat Protein Market - Growth, Trends and Forecasts (2022 - 2027)

Global Hydrolyzed Wheat Protein Market is projected to grow at a CAGR of 3.44% during the forecast period 2021-2026.

Key Highlights

• The multi-functionality of wheat protein hydrolysates has increased its adoption across various end-user industries. The growing demand for high-protein products has further expanded the application of hydrolyzed wheat protein in various protein based formulations. Moreover, positive application outlook in nutritional RTD beverages and nutri-cosmetics is driving the hydrolyzed wheat protein market in the near future.
• The hydrolyzed wheat protein market has been largely driven by the growing demand from bakery manufacturers, the increasing popularity of plant-based foods, and hydrolyzed wheat protein being a suitable alternative for non-animal protein among vegans.
• The coronavirus pandemic has brought an exclusive change in the demand dynamics, with consumers increasingly seeking products that are nutritional and improve one's health such as gut health, enhances immunity, delivers personalized nutrition and support emotional well-being. For Instance, 18% of protein buyers in the United States purchased their first plant-based protein during the COVID-19 pandemic. In Germany, the United Kingdom and the Netherlands, 80% of consumers stated they are likely to continue eating plant-based meat alternatives beyond COVID-19.

Key Market Trends

Increase in Demand for Plant Protein-Based Food Products

The plant protein market is driven by a growing inclination toward vegan diets, the functional efficiency, the cost competitiveness offered by such plant protein products, and their increasing utilization in a wide variety of processed foods, especially in the ready-to-eat products category. Plant-based milk has observed major growth in recent years, with an increasing number of people turning to dairy-free options, This, in turn, is also encouraging hydrolyzed wheat protein market growth owing to the increased lactose-intolerant consumers. This innovative product line of ready-to-eat product with no compromise in taste and texture has, in turn, boosted the overall plant protein market. Moreover, favorable government policies to reduce various diseases, such as obesity and diabetes, by controlling meat consumption, is anticipated to drive the plant protein market growth in the coming years.

North America Holds a Significant Market Share

When developing protein supplements or high protein food and drink products, the protein content is often boosted by incorporating a protein hydrolysate in food products. The North America continues to capture the largest market share for hydrolyzed wheat protein followed by Europe and Asia-Pacific. Consumers in the United States are continually demanding beverages that provide sensory taste as well as the required nutritional benefits. The rise in the adoption of plant-based food & beverages owing to the awareness among consumers about the benefits offered by a plant-based diet is one of the major factors spurring the demand of plant-based protein beverages across the country. On top of that, according to South China Morning Post, the launch of US food & beverages products that have plant-based mentioned grew by 268% between 2012 and 2018, which shows the adaptability rate among consumers.

Competitive Landscape

The global hydrolyzed wheat protein market is highly competitive. The most active global companies include, Archer Daniels Midland, Cargill Incorporated, Manildra Group USA, Roquette Frères, and The Scoular Company among others. Market players use strategies, such as forming new agreements and partnerships with local players, to increase their footprint in the foreign country and release new products according to consumers’ changing preferences. The manufacturers of hydrolyzed wheat protein are targetting countries that have a huge consumer base, thus, creating market for their products.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support