Wheat Gluten Type Market Trend, Source by Product, Driven Factor, Regional Overview with Forecast
Market Introduction
Wheat gluten is plant-derived food and used in a slew of
applications such as baking goods, bread, and biscuits, baking mixtures, frozen
baked goods, breakfast cereals. Gluten is one of the most complex proteins and
plays a key role in shaping the rheological properties of dough.
Market Scenario
According to the intensive analysis by Market Research
Future (MRFR), the global wheat gluten market has been observing high demand in
the past few years and is estimated to reach USD 4593.5 million by 2023. This
is a striking rise when compared to its valuation of USD 2866.1 million in
2017. There is a high usage of wheat gluten in the feed and bakery industry, which
propels the market growth immensely. In addition, emerging applications in
end-use industry and increasing consumer preference for meat-free diets are
anticipated to drive the market growth.
Moreover, consumer mindfulness of healthy foods is expected
to spur the demand due to the high nutritional value of wheat gluten. Apart
from this, increasing cases of obesity all across the globe is expected to
trigger the demand as well, as they are low in calorie which is helpful for
weight loss. The global market is estimated to expand owing to the demand from
bodybuilders and sportsmen for gaining muscles and enhancing strength. Growing
applications of these foods as an additive in animal feed further augments the
market growth. Thus, the market players are taking notice of these
opportunities by expanding their service offerings, which boosts the market
size globally.
On the flip side, lack of awareness about the health
benefits of wheat gluten undermines the market growth. This is prevalent,
particularly in emerging economies. However, rise in disposable income of the
middle-class population combined with improving economic growth rate across
many nations has worked in favor of the market.
Competitive Analysis
The major key players in the wheat gluten market are Cargill
Inc. (U.S.), Tereos (France), AB Amilina (Lithuania), Royal Ingredients Group
(Netherlands), Permolex International (Canada), Pioneer Industries Limited
(India), and Meelunie (Netherlands).
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Global wheat gluten Market – Segmental Analysis
The global wheat
gluten industry segment on the basis of form and application.
By form, the market is segmented on the basis of liquid and
powder. Among these, the powder segment claimed the largest market share of
75.11% in 2017. The segment is expected to reach USD 3541.7 million and
register CAGR of 8.65% during the forecast period (2017-2023).
By application, the market is segmented on the basis of
bakery & confectionery, supplements, animal feed, and others. Among these,
the bakery & confectionery segment is expected to account for the largest
market share in the global wheat gluten market during the forecast period.
Furthermore, the segment is estimated to reach the value of USD 2123.0 million
by the end of 2023. On the other hand, the supplements segment is presumed to
register the most significant CAGR of 6.33% during the forecast period.
Regional Outlook
The global wheat gluten industry segment geographically on
the basis of North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).
Among all regions, North America is leading the global
market claiming over 22.9% of the global wheat gluten market share with the
United States growing at the highest rate. The country had a market share of
42.1% in 2017. The region is projected to reach a valuation exceeding USD
1115.2 million by 2023. The market growth in the region is driven by factors
such as changing eating habits of the consumers and inclination of consumers
towards healthy foods along with growing awareness of health benefits of wheat
gluten.
On the other hand, Europe is estimated to grow at the
highest rate during the forecast period. The foray of the wheat gluten type market
into the region is marked by the rise in disposable income of the middle-class
population and significant spending of the high-class population on healthy
foods.
Following Europe is the region of Asia Pacific which is
growing at an impressive rate. Strong economy and shifting focus of consumers towards
healthy products have led to the market expansion in the region. The rising
urbanization and accelerated disposable income levels also shape the market
size positively.
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