New York, Sept. 29, 2023 (GLOBE NEWSWIRE) -- By 2032, it is anticipated that the market for potato protein would grow at a value-based CAGR of 6.3%, with sales rising from US$ 146.2 Million to roughly US$ 268.7 Million.
The global potato protein market has witnessed significant growth in recent years, driven by the increasing demand for plant-based protein sources, rising health consciousness among consumers, and expanding applications in various industries.
This research report provides a comprehensive analysis of the potato protein market, including market size, growth drivers, challenges, trends, and key players. Additionally, it offers a detailed outlook for the market's future, with forecasts and opportunities for stakeholders.
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Potato protein, derived from potatoes through various extraction and processing methods, has gained substantial attention as a high-quality plant-based protein source. It is rich in essential amino acids, making it suitable for various applications in the food and beverage, animal feed, and pharmaceutical industries. This research report aims to provide a holistic view of the global potato protein market.
Market Drivers
- Increasing Demand for Plant-Based Proteins: Consumer awareness of the health benefits associated with plant-based diets has led to a surge in demand for plant-based protein sources, including potato protein.
- Rising Health Consciousness: The growing emphasis on health and wellness, along with concerns about animal welfare and sustainability, has encouraged consumers to shift towards plant-based diets.
- Functional Properties: Potato protein's functional properties, such as emulsification, foaming, and gelling, make it an attractive ingredient for food and beverage manufacturers.
Market Challenges
- High Production Costs: The production of potato protein can be expensive due to the need for advanced extraction and processing technologies.
- Competition from Other Plant Proteins: Potato protein faces competition from other plant-based proteins like pea, soy, and rice proteins.
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Market Trends
Clean Label and Natural Ingredients: Consumer demand for clean label products with natural ingredients is driving manufacturers to use potato protein in formulations.
Plant-Based Meat Alternatives: The growing popularity of plant-based meat alternatives is creating substantial opportunities for potato protein in the food industry.
Sustainable Sourcing: Companies are focusing on sustainable sourcing of potatoes to reduce the environmental impact of potato protein production.
Market Segmentation
- By Nature: Organic, Conventional
- By End Use: Food Processing, Meat and Meat Alternatives, Bakery and Confectionery, Dairy Alternatives, Snacks and Meals, Animal Feed, Others
- By Type: Potato Protein Isolate, Potato Protein Concentrate
- By Region: North America, Latin America, Europe, South Asia & Pacific, East Asia, Middle East & Africa
Future Outlook
The potato protein market is expected to continue its growth trajectory, driven by increasing consumer demand for plant-based protein sources, ongoing research and development efforts, and expanding applications in various industries. Key factors influencing the market's future include sustainability practices, regulatory changes, and technological advancements in protein extraction methods.
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Competitive Landscape
A few of the key expansion strategies identified by the key players for strengthening global presence and opening up more opportunities include the establishment of new plant-based businesses, expansion, diversification, and product offering adjustments to ensure alignment with the current market scenario. Key actors in the manufacture of potato protein are also concentrating on a product growth plan to hit new markets, increase revenue streams, and grow market share.
The global potato protein market is characterized by the presence of several key players, including: Bioriginal Food and Science Corp., Duynie Group, KMC Kartoffelmelcentralen A.M.B.A, Lyckeby Starch AB, AKV Langholt AmbA, Emsland Group, Kerry Group, PPZ SA Niechlów, PEPEES S.A, Meelunie B.V., Kemin Industries, Inc
Recent Developments
- In 2019, Protafy 130, a new food-grade potato protein, was introduced, allowing KMC Kartoffelmelcentralen A.M.B.A. to expand its product offering. This product range was widened in response to the growing demand for plant-based proteins. Because to this product, significant food companies were able to increase the nutritional content of foods and snacks.
- Roquette Frères opened a new research and development facility in Lithuania in 2019 to meet its long-term innovation goals. It improved the business's standing in the Northern European market and made it possible for it to provide its local customers with high-quality goods and services.
- On Groningen's Zernike Campus, Avebe U.A. developed a brand-new innovation facility in 2018. It was decided to launch this new innovation centre.
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