North American Market Statistics
North America industry is predicted to dominate majority revenue share of 35% by 2037. The market growth in the region is also expected on account of the flourishing beauty and cosmetic sector, which is primarily driven by the rising demand for vegan cosmetics.
This may create a huge demand for wheat protein in the region as they are regarded as safe for health and is an authorized ingredient in cosmetics.
For instance, the North American beauty and personal care market is foreseen to bring in around USD 118 billion by 2024.
In the US, there is a great demand for wheat protein because these areas presently control the food sector, and the presence of major participants is studying creative ways to manufacture wheat protein products.
Consumers in Canada are starting to favor items with health advantages over animal protein, which will probably affect the market for wheat protein.
APAC Market Analysis
Asia Pacific region in wheat protein market is set to register more than 4% growth from 2024 to 2037 owing to the increasing personal disposable income in this region. Therefore, more and more individuals are spending on healthier and natural food products, including wheat protein.
Japan's farmers are planting more wheat and producing less rice, which has led to higher production of wheat proteins.
More than 4 thousand tons of wheat protein in paste form and over a thousand tons in powdered form accounted for the majority of Japan's domestic production volume of wheat proteins in 2022.
The size of the wheat protein market in China is set to rise due to population growth, and improved lifestyle.
Furthermore, the expanding market for natural and clean-label food items, and the growing preference for Western-style fast-consumption snacks, like bread and pastries in Korea may drive the market demand.
Author Credits: Parul Atri
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?