Cultured Wheat Market: Current Analysis and Forecast (2024-2032)

Report Description

Cultured Wheat Market Size & Forecast

The cultured wheat market was valued at approximately ~USD 221.3 million in 2023 and is expected to grow at a strong CAGR of around 7.1% during the forecast period (2024-2032) owing to the Increased demand for enhanced nutrition, rising need for sustainability, and resource efficiency globally.

Cultured Wheat Market Analysis

The cultured wheat market has a high potential for further development as it responds to significant global challenges in terms of food, diet, and environment. This market focuses on the ability to provide new and improved versions of wheat, able to capture the change that is taking place both on the consumer end as well as the biotechnological end. However, there are issues concerning the cost, regulation, and perception of such cultured wheat technologies but the prospects that are being provided by the cultured wheat technologies point towards a bright future for this cultured wheat technologies market. Moreover, cultured wheat is believed to be a key contributor to the future development of worldwide wheat production and consumption as the research continues and the market shifts.

Recent Developments in the Market:

According to the most recent data available from Circana and the International Dairy-Deli-Bakery Association, for the 52 weeks ending January 2024, dollar sales in total bakery were up 5.7% from the prior year to USD 43.5 billion.

Cultured Wheat Market Trends

This section discusses the key market trends that are influencing the various segments of the cultured wheat market, as identified by our team of research experts.

The Cheese Segment Transforming Industry

Expansion of the cultured wheat cheese segment fosters trends for other kinds of dairy goods relatively recently introduced to the markets. Cultured wheat cheeses have become highly demanded simply because they seem and taste like usual cheeses; at the same time, they are tailored for specific diets. This segment is increasing as developments in this sector provide better fermentation and production processes in order to improve the quality and flavor of these cheeses. Market growth is also caused by a greater concern towards the ecological impact of making plant-based diets, and distribution of cultured wheat cheese products and services by supermarkets and food service industries. Hence, the segment of cultured wheat cheese will attract significant growth and it will contribute to further growth of the cultured wheat market in the future.

North America held a significant share of the market in the year 2023

The growth in the business aspect of the cultured wheat market of North America has offered a certain level of dynamism and flexibility to cater to the increasing demand from consumers towards plant-based food products that have sustainability in their production. Manufacturers are channeling their efforts towards new product developments, in an attempt to improve the quality, range, nutritional value, etc. for the range of cultured wheat foods, with a focus on the ever-growing population of health-conscious and environmentally conscious consumers. Partnerships and joint ventures are increasingly being developed between the producer and food manufacturing companies, thereby increasing market share.

According to Internationalized Resource Identifier International, Chicago, even after a number of banner years, the bakery category continues to show strength and resiliency. In the perimeter bakery, full-size muffins account for 81% of dollar growth in both dollars and units, with mini muffins showing a strong rate of growth.

New data from the US Department of Agriculture (USDA) revealed that US shoppers consumed a record amount of cheese in 2022, with the per capita reaching close to 42 pounds per person, while consumption of all dairy products registered at 653 pounds per person.

Cultured Wheat Industry Overview

The cultured wheat market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Liao Weisen Group; Sunson Industry Group Co., Ltd.; NuTek Natural Ingredients; Mezzoni Foods Inc.; J&K Ingredients; Prathista Industries Limited; Norman, Fox & Co.; Boli Bioproducts; Groupe Limagrain Holding; Cain Food Industries, Inc.

In October 2023, Funds advised by U.S.-based SK Capital Partners, LP, a private investment firm focused on the specialty materials, ingredients, and life sciences sectors, acquired J&K Ingredients, Inc. Currently owned by CORE Industrial Partners, J&K is a manufacturer and supplier of food and beverage ingredients with an emphasis on natural, organic, and clean-label products.

Cultured Wheat Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global cultured wheat market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Cultured Wheat Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global cultured wheat market were the three major steps undertaken to create and analyze the adoption of cultured wheat in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global cultured wheat market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the cultured wheat market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the cultured wheat market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as application, distribution channel, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the cultured wheat market. Further, we conducted factor analysis using dependent and independent variables such as application, distribution channel, and regions of the cultured wheat market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the cultured wheat market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global cultured wheat market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

The industry’s market size, in terms of revenue (USD) and the adoption rate of the cultured wheat market across the major markets domestically.

All percentage shares, splits, and breakdowns of market segments and sub-segments.

Key players in the global cultured wheat market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were conso0lidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

 Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global cultured wheat market. Data was split into several segments and sub-segments after studying various parameters and trends in the areas of the application, distribution channel, and regions in the global cultured wheat market.

The main objective of the Global Cultured Wheat Market Study

The current & future market trends of the global cultured wheat market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the cultured wheat market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the application, distribution channel, and regions.
• Define and analysis of the regulatory framework for the cultured wheat
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the cultured wheat market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the cultured wheat market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry.

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