Showing posts with label Europe Wheat protein Market Trends. Show all posts
Showing posts with label Europe Wheat protein Market Trends. Show all posts

Wednesday, October 11, 2023

Europe Wheat Protein Market: Analyzing Growth, Trends, and Future Projections

 What Is The Size Of Europe Wheat Protein Industry?

Europe wheat protein market is growing at a CAGR of ~1.6% in 2017-2022 and is expected to reach ~Bn USD by 2028.

The Europe wheat protein Market is largely driven by heavy demands, increase in number of nutritional foods, athlete edible food items.

Due to the growing food & beverages industry and improving economic conditions, consumers in developed and developing European countries are inclining more toward convenience foods, bolstering the market's growth.

According to OECD, Europe's per capita wheat consumption increased from 89.5 kg in 2020 to 90.04 kg in 2021.

This increase in consumption is also supported by the rise in the area harvested under wheat.

Europe Wheat protein Market

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The area harvested under wheat is 70.1 in 2020 and 71.2 in 2021. Thus, the increasing land under wheat cultivation is pushing production, thereby increasing the per capita consumption of wheat. It leads to the wheat market growth during the forecast period.

Nutritional advantages is also the major growing drivers of wheat market in Europe due to increasing lactose intolerance and health – conscious customers.  Popularity in muscle building and athletic population is also an important factor, for the growth in the market

Europe Wheat Protein Market By Product Type

The Europe wheat protein market is segmented by product into wheat gluten; wheat protein isolates, textured wheat protein, and hydrolyzed wheat protein.

Dominant segment in the market in 2022 is wheat gluten segment accounted for the largest revenue share, due to various factors like better product Quality and Variety Production Capacity and Efficiency, Research and Innovation.

Wheat gluten segment has better distribution network and with competitive Pricing. This segment has seen effective marketing strategies with a strong brand presence and better Regulatory Compliance. These reasons are accounted.

Europe Wheat Protein Market By Application

The Europe wheat protein market is segmented by application into bakery & snacks, pet food, nutritional bars & drinks, processed meat, meat analogs, and others.

The bakery and snacks segment are the most dominant type of segment in the Europe wheat protein market in 2022.

The reason for the bakery and snacks segment to be dominant is due to increasing demand to fast food products and easy and portable foods.

Bakery and snacks segment has a popularity with tourists and they are homemade specialty, which makes them bestselling products in their region.

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Europe Wheat Protein Market By Regional Split

The Europe wheat protein market is segmented into France, Germany, Italy, UK, Russia, and rest of Europe.

France holds the largest market share in the European wheat protein market in 2022 due to a combination of factors. Its favorable climate and soil conditions support robust wheat production, while advanced agricultural practices ensure high-quality yields. Additionally, France's strong research and development in wheat breeding and processing technologies contribute to superior wheat protein extraction. These factors, coupled with established trade networks and a reputation for quality, position France as a dominant player in the European wheat protein market.

Competition Scenario In Europe Wheat Protein Market

The competitive landscape of the European wheat protein market is characterized by the presence of several key players, each vying for market share in this dynamic and evolving industry. Companies like Roquette Frères, Cargill, Archer Daniels Midland Company, and Tereos dominate the market with their extensive product portfolios and strong distribution networks. These industry leaders offer a wide range of wheat protein products tailored to various applications, from food and beverages to personal care.

Moreover, the market has witnessed the emergence of niche players and startups focusing on innovative wheat protein formulations, often catering to specialized dietary needs such as gluten-free or allergen-friendly products. As the demand for plant-based protein sources grows, companies such as Planteneers and Axiom Foods have gained recognition for their commitment to sustainability and product innovation.

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What Is The Expected Future Outlook For The Overall Europe Wheat Protein Market?

The Europe wheat protein market was valued at USD ~Billion in 2022 and is anticipated to reach USD ~ Billion by the end of 2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The growth in the market in future is driven by sustainability and health trends, more inclination towards plant-based diets for nutrition.

The rise of plant-based and flexitarian diets is driving demand for high-quality protein sources that can replace or complement animal-based proteins. Wheat protein offers an excellent solution, as it can be processed into various forms like seitan, a meat substitute, and used in a wide range of products, including burgers, sausages, deli slices, and more. This aligns with the preferences of consumers who are seeking to reduce their meat consumption for health, ethical, and environmental reasons.

Wheat protein is not only environmentally friendly but also offers notable health benefits. It is a complete protein source, containing all essential amino acids. Moreover, it is low in fat and cholesterol-free, making it an attractive option for as consumers become more aware of the nutritional content of their food, wheat protein can gain traction as a key component of balanced diets and sports nutrition products.

The versatility of wheat protein in terms of texture and functionality makes it an ideal ingredient for innovation in the food industry. Manufacturers can create a wide array of products with different flavors, textures, and forms, appealing to a diverse consumer base. This innovation can extend beyond meat alternatives to include dairy-free products, bakery items, and more, further driving the growth of the wheat protein market.

Governments and regulatory bodies in Europe are showing increasing support for sustainable and plant-based food initiatives. This can lead to favorable policies, subsidies, and incentives that encourage the production and adoption of wheat protein-based products. Additionally, investments in research and development can lead to advancements in taste, texture, and nutritional profiles, further bolstering the growth of the market.

Tuesday, October 10, 2023

Europe Wheat Protein Market expected to grow with CAGR of ~6% by 2028

 Wheat flour is added as a vital ingredient in convenience food items such as bakery and confectionery products, snacks, and ready-to-eat foods to improve the texture and profile of the food product.  The region's consumption of ready-to-eat food and beverages increased noticeably over the past few years.

STORY OUTLINE

  • According to Ken research, the European Wheat protein market at a CAGR of ~6% during the forecast period (2023-2028).
  • Factors driving the Europe Wheat protein market are rising consumer demand.
  • Challenge like substitutes for wheat protein hinder the growth of Europe protein market growth
  • Outlook of Europe wheat protein market is expected to grow higher due to high consumption and demand arising factors.

1. Growth of European Wheat protein market is getting higher with ~6% CAGR.

Europe Wheat Protien Market Size

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In Europe more than half of cereals grown are wheat, therefore it is the world's largest wheat producer, contributing 139 million metric tons in 2021. This is making the growth of European wheat protein market at a CAGR of 5.87% by 2028.

Due to the growing food & beverages industry and improving economic conditions, consumers in developed and developing European countries are inclining more toward convenience foods, bolstering the market's growth.

According to OECD, Europe's per capita wheat consumption increased from 89.5 kg in 2020 to 90.04 kg in 2021. This increase in consumption is also supported by the rise in the area harvested under wheat.

The area harvested under wheat is 70.1 in 2020 and 71.2 in 2021. Thus, the increasing land under wheat cultivation is pushing production, thereby increasing the per capita consumption of wheat. It leads to the wheat market growth during the forecast period.

2. Which are the driving factors for the growth of Europe Wheat protein market?

Growth driving factors of Europe Wheat Protien Market

Other driving factors of Europe wheat protein market

Growing consumer demand for convenience food products is bolstering the growth of the wheat market in Europe. The rise in urbanization changed consumption patterns and made people tend towards more convenience foods such as bread, confectionary, etc.

Along with this, consumers are interested in nature, convenience, and indulgence, and they are moving away from home consumption, which means less time spent on home food preparation and consumption.

Nutritional advantages are one of the major growing drivers of wheat market in Europe due to increasing lactose intolerant and health – conscious customers.

It is also used in cosmetic and personal care industry. Popularity in muscle building and athletic population is also an important factor, which is used to drive the growth.

3. Challenges faced by Wheat protein market which hinder their growth

Challenges in Europe Wheat Protien Market

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One of the main reasons, which could hinder the growth of the Europe Wheat protein market are the availability of close replacements like plant-based proteins.

In addition, the technological advancements are limited in the sector of wheat protein. Unlike other proteins like Whey etc. which are significantly working in their R&D department.

The other major factors that could risk the market are the health issues arising due to using high protein powders, fluctuations in raw material prices and supply chain interruptions due to pandemic.

Wheat protein also caused gluten related illness and its hindering the market. However, University of Cambridge has issued an article about the facts and misconceptions about gluten as many individuals ignore gluten due to false beliefs like having coeliac disease from gluten consumption.

In Europe, currently, the UK, France, and Russia are the hardest-hit countries by the COVID-19 outbreak. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in the supply chain.

The disruptions in the supply chain, the shutdown of manufacturing units, and labor shortages had a negative impact on the wheat protein market.

4. Outlook of European protein wheat market is expected to grow higher

Europe Wheat Protien Market Future Outlook

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Consumers increasingly prefer plant-based proteins such as wheat protein due to the high demands of meat-based protein. Germany is being an attractive market for manufacturers and exporters and it will grow in coming years due to increasing demand.

The key players in the market are ADM, Cargill, and MGP Ingredients. It is expected to grow at a CAGR of ~6% from 2023 to 2028. Two major trends that are shaping the wheat protein market are the scaling demand for clean label products and the emerging shift toward vegan and vegetarian diets. The movement for the clean label has driven the demand for sustainable and straightforward ingredients.