Global potato protein market size was $395.4 million in 2021 and is estimated to grow to about $869.10 Million by 2030, with a CAGR 7.20%.
Potato Protein Market
The global potato protein market size was worth around USD 395.4 Million in 2021 and is estimated to grow to about USD 869.10 Million by 2030, with a compound annual growth rate (CAGR) of approximately 7.20% 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 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.
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.
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.
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 peas is far more as compared to potatoes 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.
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.
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 a 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.
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 of the overall market. This is mainly because concentrate products are widely used in a variety of functional foods such as cereals and yogurts. These products have appreciably fewer levels of cholesterol, fat, lactose, and immense amounts of protein, which makes them ideal for a large number of fitness enthusiasts. Thus, driving demand for these products due to their enormous nutritional perks drives the growth of the segment during the forecast period.
The application segment of the market is bifurcated into bakery & confectionery, animal feed, supplements, food and beverage, and others. The food and beverage segment held the largest market share in 2021 and is further predicted to occupy a dominant status and simultaneously grow at a significant CAGR during the forecast period. This is mainly due to the rise inclination towards dry-mix beverages, Ready-to-Drink (RTD) beverages, and milk protein concentrates and isolates among people due to their various nutritional benefits.
|Report Attributes||Report Details|
|Report Name||Potato Protein Market Research Report|
|Market Size in 2021||USD 395.4 Million|
|Market Forecast in 2030||USD 869.10 Million|
|Compound Annual Growth Rate||CAGR of 7.20%|
|Number of Pages||180|
|Forecast Units||Value (USD Million), and Volume (Units)|
|Key Companies Covered||Kemin Industries, Inc., Avebe, Royal Cosun, KMC Ingredients, Tereos, PEPEES Group, Roquette Frères, Agrana, Meelunie B.V., Bioriginal Food & Science Corp, AKV Langholt, Sudstarke, Omega Protein Corporation, and PPZ Niechlow among others.|
|Segments Covered||By Application, By Type, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2016 to 2020|
|Forecast Year||2022 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America region held a dominating market share and is predicted to grow exponentially
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 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.
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 USD 869.10 million by 2030, with a compound annual growth rate (CAGR) of approximately 7.20% over the forecast period.
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., Bioriginal Food & Science Corp, AKV Langholt, Sudstarke, Omega Protein Corporation, and PPZ Niechlow among others.
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