The Asia-Pacific wheat protein market is estimated to be USD XX billion in 2018 and expected to reach USD XX billion by 2023 at a CAGR of XX% during the forecasted period 2018-2023.
Asia-Pacific Wheat Protein Market Dynamics
Asia-Pacific is expected to be the fastest growing region due to its rising population, the overall growth of the economy, changing demographics in terms of consumer lifestyle, increasing awareness on low-calorie and nutritional food and booming food and beverage industry. Despite the healthy volume growth, wheat protein is struggling to capture the market share due to heavy demand for competitive products, growing prominence for gluten free products, less consumer awareness of non-soy proteins and restricted supply of raw materials.
Asia-Pacific Wheat Protein Market Segmentation
The market is segmented into hydrolyzed wheat protein and wheat protein isolate. Wheat protein isolate accounts the major market share with growing demand in the food and beverage industry. And the market finds its major applications in bakery, confectionery, sports food and functional food as dough binder, nutrient supplement, processing aid and thickener. Bakery product accounts the major share among the applications.
India and China are the major markets in the Asia-Pacific region due to their rising population, fast growing economy and improved lifestyle.
Leaders in the Asia-Pacific Wheat Protein Market
The major players in the Asia-Pacific wheat protein market are Cargill Inc., Roquette, Manildra Group, and Anhui Ruifuxiang. To increase the market share the major players are focusing on market growth and consumer demand, therefore, concentrating on new product varieties of weight management foods and new R&D methods to improve the protein delivery.