The surge in veganism globally has sparked a heightened interest in wheat-derived protein supplements. Leading this trend are Millennials, embracing plant-based diets in countries such as the US, Canada, Mexico, the UK, Germany, and France. Wheat protein, adept at fulfilling the protein requirements of vegans, is becoming a key ingredient in functional foods. This trend opens avenues for vendors to innovate, introducing an array of wheat protein-based products, including non-GMO varieties. Consequently, the expanding global vegan population is fueling the demand for wheat-based protein supplements, significantly impacting market growth in the projected period.
Between 2022 and 2027, the wheat market is expected to develop at a compound annual growth rate (CAGR) of 4.08%, adding an estimated USD 47.89 billion to its revenue.
Overview of the Wheat Market
The wheat market comprises diverse players contributing to its robustness and innovation. Among these are major agricultural conglomerates and agribusiness giants that dominate the global production and trade landscape.
These are some of the top businesses.
Overall, the wheat market boasts a mix of large corporations, mid-sized enterprises, and innovative startups, each contributing uniquely to the market's dynamism and addressing evolving consumer preferences and market demands.
Wheat Market Highlights :