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Sharp Rise in Wheat Protein Use as Animal Feed Alternative is set to Grow By 5% Through 2031: Persistence Market Research
Food & beverages account for around 55% share of the global market. This is due to rising focus on consumption of functional food products, bakery products, cereals & snacks, processed meat & seafood, sauces, dressings & soups, and meat analogues, where wheat protein is used on a large scale.
In January 2018 , MGP launched the wheat-textured protein TruTex, which is obtained from high quality non-GMO wheat. This product can be utilized in meat products, poultry and seafood, and vegetarian products, besides others.
The global wheat protein market is set to experience a value growth of around 5% CAGR over the forecast period of 2021 to 2031. Concentrate wheat protein holds the highest share around 54.5% globally, with revenue expected to reach close to US$ 2.7 Bn by 2031.
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Wheat protein manufacturers are focusing on increasing its application by investing in research & development to develop new products. Manufacturers are expected to continue coming up with numerous innovations to expand their product range. They are constantly making efforts in increasing sales across various application industries.
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Persistence Market Research, in its new report, offers an impartial analysis of the global wheat protein market, presenting historical data (2016-2020) and estimation statistics for the forecast period of 2021-2031. The study offers compelling insights on the basis of type (concentrate wheat protein, wheat protein isolate, and hydrolyzed wheat protein), nature (organic and conventional), and application (food, animal feed, sports nutrition & weight management, nutraceuticals, cosmetics, and others), across seven major regions of the world.
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