Wheat Protein Market Size, Share, Growth Analysis, By Product Type(Wheat gluten, wheat protein isolates, textured wheat proteins, and wheat protein hydrolysates), By Application(Bakery & confectionery, animal feed, dairy, personal care), By Region - Industry Forecast 2024-2031

Global Wheat Protein Market size was valued at USD 9.53 billion in 2022 and is poised to grow from USD 9.99 billion in 2023 to USD 14.53 billion by 2031, at a CAGR of 4.8% during the forecast period (2024-2031).

Global Wheat Protein Market is highly competitive, with a large number of players operating at the regional and global levels. The market is dominated by some of the major players. These companies are focusing on strategies like mergers and acquisitions, partnerships, collaborations, and new product launches to expand their market share and strengthen their position in the market. Additionally, increasing research and development activities aimed at developing innovative and improved wheat protein products are also contributing to the intense competition in the market. The competition is expected to remain high in the coming years as more players enter the market and existing players continue to adopt various strategies to maintain their market position. 'Archer Daniels Midland Company (US)', 'Cargill, Incorporated (US)', 'Roquette Frères (France)', 'MGP Ingredients, Inc. (US)', 'Tereos S.A. (France)', 'Glico Nutrition Co., Ltd. (Japan)', 'The Scoular Company (US)', 'Manildra Group (Australia)', 'Kröner-Stärke GmbH (Germany)', 'Gluten Y Almidones Industriales S.A. (Spain)', 'CropEnergies AG (Germany)', 'Axiom Foods, Inc. (US)', 'Crespel & Deiters GmbH & Co. KG (Germany)', 'Agridient B.V. (Netherlands)', 'AIT Ingredients (France)', 'Kroner-Starke GmbH (Germany)', 'Tereos Syral (France)', 'Chamtor (France)', 'Limagrain Ingredients (France)', 'Kewpie Corporation (Japan)'

The increasing demand for plant-based protein is a significant driver of the global wheat protein market. Wheat protein is an excellent source of plant-based protein, which is becoming increasingly popular among consumers who are looking for healthier and more sustainable food options. Furthermore, wheat protein has a wide range of applications, from bakery products to nutritional supplements, which makes it an attractive ingredient for food manufacturers.

Increasing demand for plant-based proteins: The global shift towards plant-based diets is driving the demand for wheat protein as a substitute for animal-based proteins. This trend is expected to continue in the coming years, fueled by concerns over sustainability, health, and animal welfare.

North America had the largest share of the wheat protein market in terms of revenue, accounting for 34.22% in 2021. This can be attributed to factors such as increased awareness among consumers about the health benefits of wheat protein, a well-established food processing industry, and a growing vegetarian population. In addition, the rising demand for bakery products and meat substitutes has contributed to the growth of the market in this region. Furthermore, the region's significant wheat production and increasing demand for healthy and nutritious products are also driving market growth.