Newark, Sept. 19, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global potato protein market is expected to grow from USD 73.78 billion in 2021 to USD 115.44 billion by 2030, at a CAGR of 5.10% during the forecast period 2022-2030.
The rising importance of clean labels, improved digestibility needs, the need to avoid allergens, and improved compatibility with vegan and vegetarian ways of living are significant reasons that have led to the enhanced demand for plant-based protein. The high adoption of plant-based protein is pushing the need for potato protein. Further, potato protein is achieving high penetration in manufacturing, a broad range of natural products. The market value is expected to increase in the coming years, with North America and Europe leading the way. The demand for conventional potato protein highly overshadows the organic variant across regions.
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Competitive Strategy
To enhance their market position in the global potato protein market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
In February 2022, KMC declared that they had created texturized potato protein to be utilized as a component in meat options. The organization claims that the product is the first of its kind in the world and is part of its invention program, which was made with the reason to create plant-based ingredients substitutional to conventional animal-origin substances and products. The company intends to manufacture it on a large scale, with a production run of 300 tons proposed for 2022.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 73.78 billion |
| Market Size in 2031 | USD 115.44 billion |
| CAGR | 5.10% |
| No. of Pages in Report | 230 |
| Segments Covered | Application, Type, Regions |
| Drivers | Growing demand for dairy-free protein supplements |
| Opportunities | Sweet potato and its health advantages bring new opportunity |
| Restrains | High cost of plant-based proteins |
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Market Growth & Trends
A substantial increase in the food and beverage industry, along with rising health awareness in people, is an essential element forming favorable market growth. With the changing customer choice toward vegan dietary habits, there is an increasing need for potato protein as an acceptable form of plant-based protein. Similarly, increasing customer understanding about holding adequate animal health pushes the market's development. Isolate potato protein is counted as animal feed to boost muscle development and improve digestion in livestock and other farm animals. Furthermore, the overall adoption of potato protein in sports drinks and weight loss supplements contributes to the market's growth. Further, launching an innovative extraction procedure for isolating proteins that includes functionality loss is expected to push the market toward expansion.. Expansion of the plant-based protein domain is significantly pushed by the current emergence of ‘semi-vegetarian’ customers, as well as the rising number of vegetarians and vegans in reaction to a variety of environmental, moral, and health problems.
Key Findings
• In 2021, the food segment dominated the market with the largest market share of 26% and market revenue of 19.18 billion.
The application segment is divided into meat, supplements, bakery & confectionery, animal feed, and others. In 2021, the others segment dominated the market with the largest market share of 26% and market revenue of 19.18 billion. The others segment includes food. The demand for food is increasing as the world population is proliferating. The increased population growth is predicted to push animal sources to get proteins. Regardless, it can be changed by allowing a more significant part to be plant-based.
• In 2021, the isolate segment dominated the market with the largest market share of 36% and market revenue of 26.56 billion.
The type segment is divided into concentrate, hydrolyzed, and isolate. In 2021, the isolate segment dominated the market with the largest market share of 26% and market revenue of 26.56 billion. Potato protein isolates are refined and include extreme protein components, giving them a more useful healthy portfolio. Potato protein isolates are mainly produced as food-grade ingredients and are preferred by most critical participants in the food processing domain.
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Regional Segment Analysis of the Potato Protein Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Europe region emerged as the largest market for the global potato protein market, with a market share of around 34.5% and 25.45 billion of the market revenue in 2021. The increasing product need for dietary supplements and meat replacement is anticipated to propel the regional market. Important regional companies are also declared to contribute to market development. These players concentrate on product expansion to satisfy the growing product need from the food & beverages and feed sectors, which also pushes the market development.
Key players operating in the global potato protein market are:
• Tereos
• Roquette Frères S. A.
• PPZ SA Niechlów
• PEPEES S.A
• Meelunie B.V.
• Lyckeby Starch AB
• KMC Kartoffelmelcentralen A.M.B.A
• Kerry Group
• Kemin Industries, Inc
• Emsland Group
• Duynie Group
• Bioriginal Food and Science Corp.
• Avebe U.A.
• AKV Langholt AmbA
• AGRANA Beteiligungs-AG
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global potato protein market based on the below-mentioned segments:
Global Potato Protein Market by Application:
• Meat
• Supplements
• Bakery & Confectionery
• Animal Feed
• Others
Global Potato Protein Market by Type:
• Concentrate
• Hydrolyzed
• Isolate
About the report:
The global potato protein market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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