North America Wheat Protein Market
Market Overview and Dynamics
The wheat protein market in North America is expected to grow from US$ 952.17 million in 2021 to US$ 1,102.79 million by 2028; it is estimated to grow at a CAGR of 2.1% from 2021 to 2028. The growing food & beverages industry is expected to boost the growth of the wheat protein market in the upcoming years. The increase in the consumption of nutritional supplements, bakery products, and snacks is positively impacting the wheat protein market growth in North America. Wheat protein is widely being used in sports and energy drinks, as it helps enhance the athlete's power, strength, and physical performance. These factors are influencing the growth of the wheat protein market in North America.
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Market Introduction
North America comprises developed and developing countries such as the US, Canada, and Mexico. North America is likely to account for a remarkable share of the wheat protein market during the forecast period. Consumers in the US and Canada are shifting their preferences toward a healthy lifestyle and prefer products that provide health benefits. Therefore, the increasing health concerns among consumers drive the wheat protein market in North America. Wheat is a significant agricultural commodity in North America and across the globe. Also, wheat protein product manufacturing companies in North America are continuously enhancing their product portfolio to meet the customers' demand. The key players offering wheat protein products in North America include Cargill Incorporated; MGP Ingredients, Inc.; and Archer Daniels Midland Company. In addition, the rising prevalence of chronic diseases has led to an increased demand for plant proteins like wheat and oat proteins. While most people in North America are becoming physically active, obesity is a significant concern, leading to chronic cardiovascular diseases (CVDs), high blood pressure, and high cholesterol levels among the masses. A few non-profit and government institutions, such as the American Institute for Cancer Research, 2015–2020 Dietary Guidelines for Americans (DGA), and Health Canada, encourage plant-based diets. Therefore, the increasing concerns for obesity in the US and Canada are driving the wheat protein market.
North America is one of the worst affected economies due to the COVID-19 pandemic. The significant disruption in manufacturing facilities, along with raw material sourcing, has had a negative impact on the demand for wheat protein in the country. Along with this, the shutdown of manufacturing units, bakeries across the North American countries during the pandemic has had a negative impact on the wheat protein market. Along with this, the pandemic has had a negative impact on the food supply chains, simultaneously affecting farm production, food processing, transport, and logistic. During the pandemic, there have been changes in the consumer lifestyle which has led to an increase in demand for healthy food and beverage products. The growing consumer focus on health and wellbeing due to the pandemic is also expected to promote the demand for wheat protein in the North American market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the wheat protein market in North America 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; Kröner-Stärke GmbH; Manildra Group; MGP Ingredients Inc.; Roquette Frères; and Tereos Group.
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North America Wheat Protein Market - Company Profiles
- Archer Daniels Midland Company
- Cargill, Incorporated
- Kröner-Stärke GmbH
- Manildra Group
- MGP Ingredients Inc.
- Roquette Frères
- Tereos Group
North America Wheat Protein Strategic Insights
Strategic insights for the North America 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.
North America Wheat Protein Regional Insights
The geographic scope of the North America 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.
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Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights
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