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 –

  • Organic
  • Conventional

Based on form, the textured wheat protein market can be segmented as –

  • Granules
  • Chips and Chunks
  • Shreds

Based on end use, the textured wheat protein market can be segmented as –

  • Meat analogues (vegetarian)
  • Ready-meals
  • Fillings
  • Comminuted meat
  • Emulsified meat
  • Protein snacks & bars
  • Others

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

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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