According to VegNews, the market research firm Grand View Research expects the wheat protein market to reach $2 billion by 2025.
In a report published earlier this year, the firm predicts that the market value of wheat protein, estimated at $1.5 billion in 2015, will grow at an annual rate of 3.6 percent, producing an additional $840 million in revenue by 2025.
Wheat protein is the key ingredient in seitan, a delicious protein-dense meat substitute. And although wheat protein is used in many foods, the report finds that “globally increasing consumer preference for meat-free diets” is generating the surge in market value. According to the report, “Wheat protein is increasingly adopted as a vital health supplement mostly by people who prefer vegan and vegetarian diet[s].”
The firm’s report echoes findings by other companies and organizations. For instance, Allied Market Research predicts that the meat substitute market will grow 8.4 percent over the next three years, potentially reaching $5.2 billion globally by 2020.
Earlier this year, a study commissioned by the Plant Based Foods Association and The Good Food Institute revealed that the plant-based foods market had topped $3.1 billion in sales. And the research firm Global Data reports that veganism in America has increased by 600 percent since 2014.
Furthermore, the market research company Mintel recently found that the number of vegan products in Australia had increased by 92 percent since 2014, and Lux Research expects plant-based proteins to make up a third of the global protein market by 2054.
The growth of veganism is great news for the countless animals who suffer horribly at factory farms. Despite being just as smart and sensitive as the dogs and cats we adore at home, cows, pigs, and chickens raised and killed for food are subjected to unimaginable cruelties: extreme confinement, brutal mutilations, and violent deaths.
See for yourself.