Potato Protein Market - Global Industry Analysis

Potato Protein Market By Type (Isolate, Concentrate, and Hydrolyzed), By Application (Animal Feed, Bakery & Confectionery, Supplements, and Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 21-Mar-2022 Category: Food & Beverage Report Format : PDF Report Code: ZMR-6965 Status : Published

The global potato protein market was worth around USD 395.4 million in 2021 and is estimated to grow to about USD 685.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.1 percent over the forecast period.

Description

Industry Prospective:

The global potato protein market was worth around USD 395.4 million in 2021 and is estimated to grow to about USD 685.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.1 percent over the forecast period. The report analyzes the potato protein market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the potato protein market.

Potato Protein Market: Overview

Potato protein is a plant-based protein that is made from starch potatoes and potato starch. Potato proteins are majorly found in powder form and include a lot of protein, about 78 percent. A protein-rich liquid is formed during the extraction of starch from potatoes. After that, the proteins are concentrated, purified, and dried. Potato proteins have substantially greater quantities of critical amino acids than many cereal-based proteins or proteins derived from animals.

COVID-19 Impact:

The COVID-19 pandemic has had a negative impact on the food and beverage business, but it has had a far smaller impact on the potato protein market. To prevent the spread of the coronavirus, the movement of citizens was restricted around the world. The majority of nations have closed borders, which has a direct impact on the export and import of potato protein, as well as the production process. Furthermore, the supply chain has stalled, disrupting the whole market. However, the increasing need for alternate protein sources and constant demand from vegan food consumers maintained the sale of potato protein through different sale channels. Furthermore, the market is expected to grow at a rapid rate with the occurrence of pre-pandemic conditions.

Potato Protein Market: Growth Drivers

Increasing need for plant-based proteins is expected to boost market growth.

The need for food is constantly increasing since the world's population is predicted to exceed ten billion people by 2050. The exponential rise of the human population is predicted to put a strain on animal protein supplies. This may be changed, however, by modifying the food composition and enabling a higher portion of the diet to be plant-based. As a result, plant-based protein sources like potato protein have a lot of potential. Furthermore, because potato protein is pure and vegan, it does not require allergy labeling. Also, the demand for these items is increasing as a result of the growth in health-conscious customers throughout the world. Furthermore, plant-based protein components are widely used in food, beverages, and supplements, boosting the worldwide potato protein market. Furthermore, as more individuals become vegan or reduce their meat intake, the need for potato protein is predicted to rise significantly, boosting the potato protein market demand. Soy proteins have historically dominated the plant-based protein components market; however, potato protein is seeing rising demand since it is acceptable for all types of livestock and may be largely replaced in protein-rich feedstuffs.

Potato Protein Market: Restraints

The widespread use of pea protein in the food sector is a key factor limiting the global expansion of market.

In the field of plant-based protein, pea protein is a widely accepted and used protein that has applications in food processing, supplements, animal feed, etc. Additionally, the protein concentration in pea is far more as compared to potato which makes it more profitable in the commercialization process. Moreover, the most of market players operating in the plant-based protein produce pea protein in mass quantities as it is more scalable and its international demand is more. Thus, the dominance of pea protein in the plant-based protein market primarily hinders the market growth. 

Global Potato Protein Market

Potato Protein Market: Opportunities

Increase in demand for plant proteins to have ample opportunities for the market growth

In response to the increased demand for plant protein, the potato protein market will expand. Consumers are always on the lookout for healthier alternatives to their current diet. They are attracted to items that offer both health and flavor advantages. Plant-based proteins are also gaining popularity in developing nations such as Peru, Indonesia, and Mexico, among others. Increased awareness of animal cruelty and rights is one of the key causes of this movement. The increased desire for functional foods that aren't made with animal protein will help the potato protein market develop even faster.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Potato Protein Market: Challenges.

Availability of alternative plant-based proteins

Rising adoption of soy and pea protein is one of the main risks to potato protein producers. The widespread use of pea protein in food is a key factor limiting the global expansion of the potato protein market. Aside from that, price is an indisputable component that may determine the market's potential for any product. Due to lack of sufficient resources and high processing costs, plant-based proteins are often expensive. Despite the fact that the nutritious characteristics of potato proteins are the driving force behind the market, high costs in emerging nations may limit the industry's expansion.

Potato Protein Market: Segmentation

The global potato protein market is categorized into type, application, and region. Based on type, the market is bifurcated into concentrate, isolate, and hydrolyzed. Among these, the concentrate segment holds nearly 38% share in the overall market. The application segment of the market is bifurcated by bakery & confectionery, animal feed, supplements, and others

Recent Developments

In February 2022, the pioneering Danish ingredients business KMC created textured potato protein which could be utilized as an ingredient in plant-based meat for the first time in the world.

In November 2021, as demand for plant-based ingredients rises, Royal Avebe significantly boosts its Solanic potato-protein manufacturing.

Regional Landscape

North America is the largest regional market for potato protein. The region is expected to contribute significant revenue to the global potato protein market over the forecast period. This is attributed to the increasing demand for plant-based protein in the United States. Potato protein sales in the United States increased by over 5% year over a year till 2020. By the end of 2028, the market is expected to reach a volume of around 29,000 tons. Increased demand for processed foods with natural ingredients, as well as a preference for plant-based foods, are two significant drivers driving the potato protein industry's rise in the country. On the other side, the market in the Asia Pacific is likely to grow at a rapid rate. The food processing sector in China and India has grown significantly in recent years, and it is predicted to continue to develop strongly during the projection period. Rapid urbanization, changing dietary habits, raw material availability, and government policy liberalization have all aided the industry's rise in these nations.

Competitive Landscape

Major players operating in the global potato protein market include Kemin Industries, Inc., Avebe, Royal Cosun, KMC Ingredients, Tereos, PEPEES Group, Roquette Frères, Agrana, Meelunie B.V., and Bioriginal Food & Science Corp.

Global potato protein market is segmented as follows:

By Application

  • Animal Feed
  • Bakery & Confectionery
  • Supplements
  • Others

By Type

  • Isolate
  • Concentrate
  • Hydrolyzed

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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FrequentlyAsked Questions

Increasing need for plant based proteins is expected to boost the market growth. The need for food is constantly increasing since the world's population is predicted to exceed ten billion people by 2050. The exponential rise of the human population is predicted to put a strain on animal protein supplies. This may be changed, however, by modifying the food composition and enabling a higher portion of the diet to be plant-based. As a result, plant-based protein sources like potato protein have a lot of potentials.

According to the Zion Market Research report, the global potato protein market was worth about 395.4 (USD million) in 2021 and is predicted to grow to around 685.7 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 6.1 percent.

North America is the largest regional market for potato protein. The region is expected to contribute significant revenue to the global potato market over the forecast period. This is attributed to the increasing demand for plant based protein in the United States. Potato protein sales in the United States increased by over 5% year over a year till 2020. By the end of 2028, the market is expected to reach a volume of around 29,000 tons. Increased demand for processed foods with natural ingredients, as well as a preference for plant-based foods, are two significant drivers driving the potato protein industry's rise in the country.

Major players operating in the global potato protein market include Kemin Industries, Inc., Avebe, Royal Cosun, KMC Ingredients, Tereos, PEPEES Group, Roquette Frères, Agrana, Meelunie B.V., and Bioriginal Food & Science Corp.

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