Wheat Gluten Industry Segment with future investment, Key Driven, Gross Margin, Geographical Demand
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.
According to the intensive analysis by Market Research Future (MRFR), the global market for wheat gluten 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.
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,...
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