The global hydrolyzed wheat protein market size is anticipated to reach USD 233.08 Million, by the year 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 4.5% over the forecasted period, 2019 to 2025. Rising awareness about the consumption of natural and plant-based products and increasing geriatric population are the major factors driving the market growth.
These proteins are non-genetically modified products and are plant-based which are obtained from a process of hydrolysis of germs in wheat which extracts proteins, peptides, and other nutrients. As the main ingredient of the final product is wheat, it is free from side effects. Thus, it can be used to manufacture various food and beverages. Many key players such as Agridient and Cargill Inc. have started investing more in R&Ds to develop new products and formulations cater to the rising demand of vegan consumers for organic foods and beverages. For example, Cargill Inc. had developed a vegetable-protein mixture that is being used in a variety of beverages. To meet the rising demand for protein-rich beverages, they also had developed a hydrolyzed soluble formulation that contained wheat proteins.
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The rise in the adoption of organic content for the manufacturing of personal care products has been on the rise since the past few years. Therefore, this segment is expected to grow at a CAGR of 4.5% from 2019 to 2025. These proteins are being used as one of the major contents in the manufacturing of haircare and skin-care products owing to the properties such as repair of damaged hair follicles, hydration and retention of moisture and providing nourishment. As these products are being claimed to be natural and non-toxic by major players across the personal care segment, their market is expected to boost during the forecasted period.
An increase in support by the statutory governing bodies and easy availability of raw materials are also driving factors for the growth of this market. The rising demand for plant-based ingredients for the manufacturing of food items is leading to agricultural sustainability which is being promoted by governments of respective regions. For example, the Food Safety and Standard Authority of India (FSSAI) had introduced standards for additives of food across eight categories, involving wheat proteins. Now, the manufacturers of various foods and beverages can use these additives with the permission of FSSAI.
The online segment of the distribution channel is expected to achieve the highest CAGR of 5.1% from 2019 to 2025. Increasing internet usage, variety of products being made available on a single platform and ease of shopping are the factors expected to boost the market share. Also, the manufacturers have started providing various offers and discounts to promote online sales of their products which is expected to positively affect the hydrolyzed wheat protein market growth.
The region of Asia Pacific held a larger share in the regional market and is expected to continue to grow at a CAGR of 4.9% from, 2019 to 2025. The European countries are also well known for their trends in the personal care industry. For example, a Greek brand, Korres manufactures hair care products using organic contents in which hydrolyzed wheat protein act as a major constituent which helps in the repair of damaged and dull hair.
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Further key findings from the report suggest:
• The region of North America is anticipated to value USD 68.3 million till 2025.
• The offline distribution channel is expected to witness slight decline in the market share due to increasing influence of shopping through online mode.
• The region of Asia Pacific is acting as a key contender for the global market and is expected to grow at a CAGR of 4.9% owing to increasing population and rising disposable income.
• The increasing trend of vegan food consumption across countries like Germany and Italy is also expected to have positive impact of the market growth.
Million Insights has segmented the global hydrolyzed wheat protein market on the basis of application, distribution channel and region:
Hydrolyzed Wheat Protein Application Outlook (Revenue, USD Million, 2015 – 2025)
• Food & beverages
• Personal care
Hydrolyzed Wheat Protein Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
Hydrolyzed wheat protein Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central and South America
• Middle East and Africa
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