Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global Wheat Protein Market size is expected to reach $7.8 billion by 2028, rising at a market growth of 4.7% CAGR during the forecast period.
The Bakery & Confectionaries segment is leading the Global Wheat Protein Market by Application in 2021 thereby, achieving a market value of $3 billion by 2028. Increased moisture content, better water absorption, and the softness of the end product are some of the elements that are driving the need for wheat protein in baking applications. The demand for products is also being fueled by a rise in the consumption of quick-bite items like confectionary and snacks as a result of changing lifestyles.
The Wheat Protein Hydrolysates segment is showcasing a CAGR of 5% during (2022 - 2028). The product segment's wheat protein hydrolysate is anticipated to experience the quickest CAGR growth over the projection period. The rapidly expanding demand for plant-based components in dietary supplements and technological advancements in the personal care and cosmetics product industries are the main drivers of this segment's rapid growth.
The North America market dominated the Global Wheat Protein Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.7 billion by 2028. The Europe market is exhibiting a CAGR of 4.4% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 5.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/wheat-protein-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Archer-Daniels-Midland Company, Cargill, Incorporated, Roquette Freres SA, AGRANA Beteiligungs-AG, Tereos S.A., Batory Foods, Inc., Kerry Group PLC, BENEO GmbH (Südzucker AG), Manildra Group, and Crespel & Deiters GmbH and Co. KG.
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