Global Potato Protein Market - 2022-2029
The global potato protein market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Potato protein is a high-quality, easily digested protein source. Precipitation and centrifugation are used to remove it from potato juice. Potato protein comprises 70-76 percent crude protein on average, with a diverse amino acid profile that aids digestion. The growing popularity of potato protein is expected to drive the market over the predicted period due to its high nutritional value and benefits such as digestive health, improved strength and control of blood sugar levels.
Rising demand for vegan diet is driving the market growth
The protein market is witnessing a shift in consumer demand from animal protein to plant protein. This inclination toward a plant-based diet is associated with different factors, such as sustainability issues, health awareness, ethical or religious views, and environmental and animal rights. Meat proteins provide the required amino acid content to the body. Still, they are associated with high cholesterol levels and other related issues, resulting in people shifting to a vegan source of protein. Increasingly, more people are going vegan to lose weight and improve their health. This trend is a big driver for the valorization and uptake of high value-added products, such as Solanic`s potato proteins. This increasing trend towards plant-based diets represents the potential for a huge market for plant-based protein products.
Additionally, the demand for these items is increasing as the number of health-conscious consumers increases worldwide. Furthermore, plant-based protein components are widely used in food, beverages, and supplements, boosting the global potato protein market.
Isolates segment accounted for the highest share in prepared flour mixes market
The isolates category dominated the global potato protein market, with the highest CAGR expected during the forecast period. Isolates are high in bioactive chemicals and low in carbohydrates and fats, making them ideal for boosting immunity. This segment's growth is projected to be aided by constant product innovation. For example, Innovix Labs recently released a vegan protein made entirely of potato protein isolate. It's an all-natural, gluten-free vegan protein with well-balanced amino acids and no carbohydrates, flour, or added sugar. It's made for low-protein dishes, snacks, and smoothies including juices, protein shakes, and water-soluble beverages.
The food and beverage industry was a major application segment with a market share of over XX% in 2021. A range of ready-to-drink (RTD) or dry mixed beverages, milk protein separations and concentrates, dehydrated foods, frozen foods, fermented foods, non-dairy vegan foods, improve digestive and immune systems and absorb supports vitamins and nutrients that include potato protein.
Asia-Pacific is the fastest growing region during the forecast period
The Asia Pacific potato protein market is expected to exceed USD XX million during the forecast period. The region has a high demand for plant-based proteins due to its low-calorie content and high levels of essential nutrients and fiber. This should increase the demand for the product. Plant-based proteins balance the body's enzymes and hormones with health benefits in tissue repair and sufficient growth opportunities for the product over the expected time frame. The launch of new products will support the region's market expansion, along with the remarkable growth of the processed food and beverage industry. This product has helped develop high quality, texture-free, meat-free analogues that should increase the demand for the product. The growing vegan population is further leaning towards meat-free analogues, which are likely to boost product demand in the region. Potato protein is in great demand in the bakery industry due to its ability to provide a daily source of protein and improve shelf life of finished products. Increasing consumer demand for healthy, gluten-free baked goods is expected to boost market trends in the Asia Pacific region.
There are various small and large players in the potato protein market. They are mostly farmer-owned cooperatives. Avebe, Tereos Group, Kemin Industries Inc., Cyvex Nutrition (Omega Protein Corporation), and AKV Langholt AMBA are some of the key players in this market. The top companies are concentrating on growing their potato protein operations in domestic and foreign markets. Avebe is launching two new products and expanding its operations. Omega Protein Corporation purchased Bioriginal and Cybex to improve its protein component profile. Major companies have undertaken strategic initiatives, such as mergers and acquisitions, to gain a major share, especially in the emerging markets. Avebe, for example, merged with Novasep in 2018 to industrialize its purification unit to produce high-quality potato protein for the food market. Perfectasol D520, a plant-based pizza cheese made from potato starch and protein, was also introduced by the company.
COVID-19 Impact: Negative impact on the global potato protein market
The COVID-19 pandemic has harmed the food and beverage business, but it has had a far smaller impact on the potato protein market. To prevent the coronavirus from spreading, people must stay at home. The majority of nations have closed borders, which has a direct impact on the export and import of potato protein and the manufacturing process. Furthermore, the supply chain has slowed, disrupting the entire market. The potato protein market is predicted to rise due to a decrease in coronavirus incidence and new vaccines to treat COVID-19.
Understand the current market scenario and viability of global potato protein market over the forecast period.
Visualize the composition of the global potato protein market terms of type and application to identify major players, growth potential, and market strategies.
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period.
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global potato protein market - Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market Share Analysis covering business revenues ($) and revenue share (%) of key market players
The global potato protein market report would provide an access to approximately 53 market data tables, 44 figures and 180 pages
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