A new report published by market research firm Grand View Research (GVR) predicted that the wheat protein market—including the “texturized” variety commonly used in meat replacements—will be valued at $2.15 billion by 2025. According to GVR, the estimated value of wheat protein was $1.5 billion in 2015 and the market is expected to grow at a compound annual growth rate of 3.6 percent, generating $840.1 million in revenue by 2025. While wheat protein has many applications in the food industry—including its use in dairy products as a lactose substitute—GVR reports that “globally increasing consumer preference for meat-free diets” are driving the growth of the ingredient. “Wheat protein is increasing[ly] adopted as a vital health supplement, mostly by people who prefer vegan and vegetarian diet[s],” the report further reveals. A separate report published by research firm Allied Market Research predicted that the meat alternatives market would reach $5.2 billion by 2020.
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