Thewheat protein marketis projected to reach USD 3.2 billion by 2028 from USD 2.5 billion by 2023, at a CAGR of 4.9% during the forecast period in terms of value. The market for wheat protein by concentration is experiencing growth due to the increasing demand for plant-based protein products in food beverages, dietary supplements, and animal feed industries.
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Opportunity: Growing role of wheat protein in the pet industry
The pet food market is driven by two primary trends globally. These trends are premiumization and humanization. There is a growing trend of pet humanization as a "family member" among owners. Due to this, there is a rise in the demand for premium pet food with nutritional benefits, better digestibility, and improved ingredient quality for pets. Considering this changing human tendency, the major players, such as Crespel Deiters Group (Germany), are offering wheat protein as an ingredient that can be incorporated in pet food products.
In dry dog foods and biscuits, wheat is a grain that provides high-quality carbohydrates. In addition to giving us energy for daily tasks, it also gives food the ability to be processed. Wheat is a major source of nutrients and offers a wide range of advantages. Wheat-based products offer holistic, wheat-based solutions for optimizing pet food because they are rich in starches, vitamins, minerals, trace elements, and fiber, which aid in the formation of balanced pet food products.
Use of wheat protein to improve pellet quality is expected to boost the market growth
In the pet food industry, wheat gluten is used in products where its water absorption and fat-binding properties improve yield and quality. It is known for its unique binding capacity for improved pellet quality. An increase in the demand for organic and premium food products is one of the major drivers for the wheat protein market. According to a report by the US Department of Agriculture, the market for plant-based pet food is growing rapidly. In 2020, sales of plant-based pet food in the US increased by 27% compared to the previous year, with the total sales reaching USD 600 million. The Pet Food Institute, a trade association representing pet food manufacturers, notes that wheat gluten is a high-quality protein source that is easily digestible for pets. It also states that wheat gluten is a sustainable and environmentally friendly option for pet food manufacturers.
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Europe is expected to dominate the market during the forecast period
The consumption of wheat protein in Europe is the highest as compared to the other regions. Consumers increasingly prefer plant-sourced proteins, such as wheat protein, due to the high prices of animal-sourced protein. This has led to the growth of low-cost plant-sourced protein, such as wheat and vegetable proteins, which act as a substitute for animal-sourced protein.
Germany is an attractive market for manufacturing companies as well as exporters. Bread constitutes a significant part of the baked goods sector as it is one of the main components of the German diet. The bakery snacks industry of Germany is well-established and has a large consumer base with high purchasing power. Health-conscious consumers in this country demand nutritive baked goods without compromising on the taste of products. Key players in the bakery products industry are taking the initiative to develop and promote new products to meet this demand. In Germany, barley and wheat are predominantly used as sources for feed products.
