Textured Wheat Protein Market Outlook
The increasing health and wellness trend, growing concerns regarding animal welfare, and awareness about the sustainable environment are leading to the changing consumers eating habits. The consumers are rapidly cutting up their meat consumption to attain a healthy lifestyle and contributing to sustainable living. As more consumers turn away from meat, the demand for plant-based products is expected to find prospects in the global market. Plant-based protein is thus widely gaining popularity and acceptance as a replacement to a wide range of traditional meat-based products. Textured wheat protein is palatable food ingredients obtained from wheat and is increasingly being used in the food processing industry as a complete or partial meat replacement. Textured wheat protein has a neutral taste and is used to enhance visual appeal, texture, hydration, absorption, and nutrition value of the processed food products. Textured wheat protein is a rich source of plant protein, a potential meat replacer, and is suitable for vegetarians and vegans and hence is anticipated to find strong market potential over the forecast period.
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Increasing Demand for Plant-based Protein is Boosting the Sales for Textured Wheat Protein
Rising consumer concerns regarding health and wellness, and increasing health issues like diabetes, obesity, and cardiovascular diseases among consumers have made them appreciate and incline towards plant-based products. Plant-based products contribute to healthy eating habits and provide more nutritional value, protein, minerals, and healthy fats as compared to the other alternatives available. Healthy eating trend, coupled with increasing demand for plant-based food products, is anticipated to increase the market for textured wheat protein over the forecast period. Furthermore, today, consumers are becoming more sympathetic and sensitive towards animals, due to the conditions and environment in which they are harvested and raised. Animal welfare is one of the major reasons for consumers opting for plant-based products which is again anticipated to contribute to the growing market for texturized wheat protein. Furthermore, the growing trend for vegetarian/ vegan/ flexitarian diet among western countries is leading to a growing demand for plant-based products like textured wheat protein over the forecast period.
Big companies are investing in and acquiring small plant-based companies and brands to expand their offerings of textured wheat protein. Companies are well aware of the changing consumer trend and preference towards a healthier lifestyle and plant-based products, and hence, are trying to update their inventories with more and more textured wheat protein products.
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Textured Wheat Protein Market: Segmentation
The textured wheat protein market can be segmented based on nature, form, and end use
Based on nature, the textured wheat protein market can be segmented as –
Based on form, the textured wheat protein market can be segmented as –
- Chips and Chunks
Based on end use, the textured wheat protein market can be segmented as –
- Meat analogues (vegetarian)
- Comminuted meat
- Emulsified meat
- Protein snacks & bars
Textured Wheat Protein Market: Regional Analysis
According to research commissioned by the Vegan Society and Vegan Life magazine in the year 2016, the number of people who follow a vegan diet in the United Kingdom increased 350% as compared to the past ten years. Regions including North America and Western Europe will have an increasing demand for textured wheat protein due to increasing health and wellness conscious population and rising prevalence of dietary restriction due to problems like food-allergies, intolerances, etc. Besides, consumers’ inclination towards a vegan/vegetarian diet is also heightening the market demand for textured wheat protein in these regions. However, more than vegan/ vegetarian diet consumers in North America and Europe are opting for flexitarian diet, wherein consumers follow a plant-based diet with occasional meat consumption, flexitarian diet is more attainable for consumers than going wholly vegan or vegetarian. Thus, number of flexitarians is rapidly increasing, making the demand for plant-based products like textured wheat protein, increase. This trend is being backed by many food giants who collectively support the growth of all the meat substitute products. Manufacturers are thus are developing plant-based food products like textured wheat protein that offer meat-familiar taste and texture attributes, with the help of advanced food technology.
Textured Wheat Protein Market: Key Participants
The key players in the global textured wheat protein market are:
- BENEO GmbH
- MGP Ingredients, Inc.
- Foodchem International Corporation
- Wuhan Golden Wing Industry & Trade Co., Ltd
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