Asia Pacific Wheat Protein Market
Market Introduction
APAC comprises China, India, Japan, South Korea, and Australia, among other countries. These countries are witnessing a growth in urbanization and a surge in the middle-class population, which provides extensive opportunities for the key market players in the wheat protein market.
The wheat protein market in APAC is anticipated to grow significantly, owing to the economy's overall growth, rise in population, increase in awareness about low calorie and nutritional food, and change in demographics in terms of consumer lifestyle. Countries such as India and China are the leading countries in APAC that are driving the demand for wheat protein, owing to the increase in population, improved lifestyle, and growth of the economy. Prominent players in the wheat protein market, such as Roquette, Manildra Group, Cargill Inc., and Anhui Ruifuxiang, are focusing on providing innovative wheat protein products, leading to opportunities for growth of the wheat protein market in APAC. Along with this, increased demand for meat-free diets and a shift in consumer preference toward nutritious and healthy food products are increasing the demand for wheat protein. Increasing focus on research and development for plant-based protein, growing vegan population, and rising investments in the bakery industry are expected to drive the market in APAC.
The COVID-19 pandemic caused a significant economic loss in APAC. The emergence of new COVID-19 waves in India and other Asian economies has prolonged the effect of the pandemic. It has caused huge disruptions in various industries' growth and supply chain, including the food & beverages industry. The consumption of healthier food products will lead to increased adoption of wheat protein in various bakery products and cereals, among others, thus, having a positive impact on the wheat protein market. Along with this, the manufacturers are focusing on catering to the soaring demand for natural, healthy, clean-label products in post-pandemic times.
Market Overview and Dynamics
The wheat protein market in APAC is expected to grow from US$ 784.76 million in 2021 to US$ 973.02 million by 2028; it is estimated to grow at a CAGR of 3.1% from 2021 to 2028. Moreover, the demand for plant-based protein foods is increasing rapidly in APAC due to the growing trend of vegetarianism and veganism. The demand for protein ingredients in the food & beverages industry has transformed significantly in terms of nutritional value and quality with increased spending on nutritional food products due to the rising income levels. Due to the trend of sports and fitness, the demand for supplement products has also witnessed an upward trend in the region over the past few years. The demand for vegan protein supplements has also seen a surge in countries such as India, Malaysia, and Indonesia. These overall demands for wheat protein in the dietary supplement industry are driving the wheat protein market in APAC. Further, growing functional food products, increasing demand for clean labels, and achieving cost reductions in the manufacturing process in APAC countries, especially China and India, are the major factors driving the organic wheat protein market in the region.
Key Market Segments
APAC wheat protein market is segmented into product, form, application, and country. Based on product, the APAC wheat protein market is segmented into wheat gluten, wheat protein isolates, textured wheat protein, and hydrolyzed wheat protein. In 2020, the wheat gluten segment accounted for the largest revenue share. The APAC wheat protein market, by form, is bifurcated into dry and liquid. In 2020, the dry segment accounted for a larger revenue share. The APAC wheat protein market, by application, is segmented into bakery & snacks, pet food, nutritional bars & drinks, processed meat, meat analogs, and others. In 2020, the bakery and snacks segment accounted for the largest revenue share. Based on country, the APAC wheat protein market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the wheat protein market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Archer Daniels Midland Company, Cargill Incorporated, Glico Nutrition Co. Ltd; Kröner-Stärke GmbH, Roquette Frères, and Tereos Group.
Reasons to buy report
APAC
Wheat Protein Market
Segmentation
APAC Wheat Protein Market -
By Product
APAC Wheat Protein Market - By
Form
APAC Wheat Protein Market - By Application
APAC Wheat Protein Market - By Country
APAC Wheat Protein Market - Company Profiles
Strategic insights for the Asia Pacific Wheat Protein provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 784.76 Million |
| Market Size by 2028 | US$ 973.02 Million |
| Global CAGR (2021 - 2028) | 3.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Wheat Protein refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Asia Pacific Wheat Protein Market is valued at US$ 784.76 Million in 2021, it is projected to reach US$ 973.02 Million by 2028.
As per our report Asia Pacific Wheat Protein Market, the market size is valued at US$ 784.76 Million in 2021, projecting it to reach US$ 973.02 Million by 2028. This translates to a CAGR of approximately 3.1% during the forecast period.
The Asia Pacific Wheat Protein Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Wheat Protein Market report:
The Asia Pacific Wheat Protein Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Wheat Protein Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Wheat Protein Market value chain can benefit from the information contained in a comprehensive market report.
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