Market Forecast By Product (Gluten, Protein Isolate, Textured Protein, Hydrolyzed Protein), By Application (Bakery & Snacks, Pet Food, Nutritional Bars & Drinks, Processed Meat, Meat Analogs), By Form (Dry, Liquid), By Concentration (0.75, 0.8, 0.95) And Competitive Landscape
Product Code: ETC4535910 | Publication Date: Jul 2023 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 3 | |
Report Name | Philippines Wheat Protein Market |
Forecast period | 2024-2031 |
CAGR | 13.9% |
Growing Sector | Food |
Philippines Wheat Protein Market report thoroughly covers the market By Product, By Application, By Form, and By Concentration. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Philippines Wheat Protein Market is growing rapidly, driven by the demand for high-quality protein sources by the health-conscious consumers, especially the rise in vegan, vegetarian, and flexitarian lifestyles. With the growing population, rising income levels and demand for plant-based protein sources is expected to increase further.
According to 6Wresearch, the Philippines Wheat Protein Market size is projected to record enormous growth, growing at a CAGR of 13.9% during the forecast period of 2024-2031. The growth is driven primarily by people's increasing awareness of the health benefits of wheat protein, including its high nutritional value, and low allergenicity. Some of the popular wheat protein products in the country include protein powders, bars, and snacks. Moreover, wheat protein is also a popular ingredient in plant-based meat alternatives, such as burgers and sausages, which are becoming increasingly prevalent in the Philippine market. In terms of trends, one major development in the wheat protein market in the Philippines is the rise of local brands producing wheat protein products. This trend promotes local businesses and supports the country's economy while offering consumers high-quality products at competitive prices. Furthermore, the market trend towards natural, and organic products has also led to the creation of wheat protein products that are free from artificial preservatives, flavors, and colors. However, one of the main challenges facing the industry is the high cost of production, which translates into higher prices for consumers. Additionally, there are still some misconceptions surrounding plant-based protein sources, and the perception that they are not nutritious as animal-based proteins. However, these perceptions are changing as more research shows the substantial health benefits of plant-based diets.
The Philippine government has introduced several policies and schemes that are aimed at promoting the Philippines Wheat Protein Market Growth. One such policy is the Philippine Development Plan (PDP). This policy aims to promote the food and agriculture sector by investing in research and development and promoting sustainability to ensure food security in the country. Additionally, the government provides financial support through the Agricultural Credit Policy Council (ACPC) and the Agricultural Competitiveness Enhancement Fund (ACEF).
Several key players in the Philippines Wheat Protein Market have contributed significantly to the growth of the market. One of the leading players is Cargill, a multinational corporation that produces and distributes gluten products globally. Cargill has invested heavily in the Philippines, expanding their facilities, and introducing new products to meet the increasing demand for wheat gluten. Another major player in the Philippine Wheat Protein Market is ADM Milling.
The future of the Philippines Wheat Protein Market appears bright and promising, with the increasing demand for healthy and nutritious plant-based food products. The market's growth is further aided by the COVID-19 pandemic, which led to a surge in demand for plant-based food products, perceived to enhance immunity and promote overall wellness. The increasing consumer preference for healthy and high-protein food options leads to a growing trend in functional foods, and with wheat protein isolates being an excellent source of protein, the market is expected to grow exponentially.
According to Sachin, Senior Research Analyst, 6Wresearch, the protein isolate segment is expected to hold the largest share of the market. The gluten segment is also expected to maintain a significant share of the market.
Based on Application, bakery and snacks dominate the Philippines Wheat Protein Market Share and are expected to continue to do so in the foreseeable future.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Philippines Wheat Protein Market Overview |
3.1 Philippines Country Macro Economic Indicators |
3.2 Philippines Wheat Protein Market Revenues & Volume, 2021 & 2031F |
3.3 Philippines Wheat Protein Market - Industry Life Cycle |
3.4 Philippines Wheat Protein Market - Porter's Five Forces |
3.5 Philippines Wheat Protein Market Revenues & Volume Share, By Product, 2021 & 2031F |
3.6 Philippines Wheat Protein Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.7 Philippines Wheat Protein Market Revenues & Volume Share, By Form, 2021 & 2031F |
3.8 Philippines Wheat Protein Market Revenues & Volume Share, By Concentration, 2021 & 2031F |
4 Philippines Wheat Protein Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Philippines Wheat Protein Market Trends |
6 Philippines Wheat Protein Market, By Types |
6.1 Philippines Wheat Protein Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 Philippines Wheat Protein Market Revenues & Volume, By Product, 2021 - 2031F |
6.1.3 Philippines Wheat Protein Market Revenues & Volume, By Gluten, 2021 - 2031F |
6.1.4 Philippines Wheat Protein Market Revenues & Volume, By Protein Isolate, 2021 - 2031F |
6.1.5 Philippines Wheat Protein Market Revenues & Volume, By Textured Protein, 2021 - 2031F |
6.1.6 Philippines Wheat Protein Market Revenues & Volume, By Hydrolyzed Protein, 2021 - 2031F |
6.2 Philippines Wheat Protein Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Philippines Wheat Protein Market Revenues & Volume, By Bakery & Snacks, 2021 - 2031F |
6.2.3 Philippines Wheat Protein Market Revenues & Volume, By Pet Food, 2021 - 2031F |
6.2.4 Philippines Wheat Protein Market Revenues & Volume, By Nutritional Bars & Drinks, 2021 - 2031F |
6.2.5 Philippines Wheat Protein Market Revenues & Volume, By Processed Meat, 2021 - 2031F |
6.2.6 Philippines Wheat Protein Market Revenues & Volume, By Meat Analogs, 2021 - 2031F |
6.3 Philippines Wheat Protein Market, By Form |
6.3.1 Overview and Analysis |
6.3.2 Philippines Wheat Protein Market Revenues & Volume, By Dry, 2021 - 2031F |
6.3.3 Philippines Wheat Protein Market Revenues & Volume, By Liquid, 2021 - 2031F |
6.4 Philippines Wheat Protein Market, By Concentration |
6.4.1 Overview and Analysis |
6.4.2 Philippines Wheat Protein Market Revenues & Volume, By 0.75, 2021 - 2031F |
6.4.3 Philippines Wheat Protein Market Revenues & Volume, By 0.8, 2021 - 2031F |
6.4.4 Philippines Wheat Protein Market Revenues & Volume, By 0.95, 2021 - 2031F |
7 Philippines Wheat Protein Market Import-Export Trade Statistics |
7.1 Philippines Wheat Protein Market Export to Major Countries |
7.2 Philippines Wheat Protein Market Imports from Major Countries |
8 Philippines Wheat Protein Market Key Performance Indicators |
9 Philippines Wheat Protein Market - Opportunity Assessment |
9.1 Philippines Wheat Protein Market Opportunity Assessment, By Product, 2021 & 2031F |
9.2 Philippines Wheat Protein Market Opportunity Assessment, By Application, 2021 & 2031F |
9.3 Philippines Wheat Protein Market Opportunity Assessment, By Form, 2021 & 2031F |
9.4 Philippines Wheat Protein Market Opportunity Assessment, By Concentration, 2021 & 2031F |
10 Philippines Wheat Protein Market - Competitive Landscape |
10.1 Philippines Wheat Protein Market Revenue Share, By Companies, 2024 |
10.2 Philippines Wheat Protein Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |