Potato Protein Market: Snapshot
The global potato protein market will grow at a steady CAGR (Compound Annual Growth Rate) between 2018 and 2028. This would translate to good growth opportunities for market players to dabble with and would also lead to improved market worth.
There are numerous factors contributing to growth in the global potato protein market but primary among them are two. One, rise of veganism and two, growing health and fitness, sports industry. They thus drive demand for protein bars, breakfast cereals and protein shakes and so much more.
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The market landscape is fragmented and includes both prominent players as well as farmer-owned cooperatives. Some of the big names include Avebe, Tereos Group, Kemin Industries Inc., Cyvex Nutrition (Omega Protein Corporation), and AKV Langholt AMBA. Some of the central strategies companies have use thus far are partnerships exploring synergies, product launches and expansions.
Some of the most notable trends, developments, shaping the future of global potato protein market are spelled out below:
- As a shift from animal protein to alternatives is witnessed, it is rightly pointed that it will lead to demand for plant based proteins such as potato proteins. Multiple factors are at play here. One, there are sustainability concerns. As environment takes center-stage in choices made by consumers, plant based variety of proteins gets a thumbs up. Second, animal rights are a heated topic in this day and age and thus propel the potato protein market further. Besides, as meat proteins have started to be related with high cholesterol levels, the demand is taking a hit, paving way for growth in potato protein market.
- As sports and outdoorsy physical activity see rising popularity so do need for protein shakes and bars. Besides, there are other activities such as gym memberships that are going up, taking demand for protein drinks and food up. This is good news for the potato protein market.
Potato protein is an industrial by product of the potato starch, obtained during starch separation, which can also be extracted from the tuber itself. These potato proteins have been shown to be equally as nutritious as soy and egg proteins, and due to well-balanced pattern of amino acids and high digestibility, they are considered to be highly suitable for feed applications. In addition, increasing consumer inclination toward vegan diet has led to surge in the demand for potato proteins extracted from organic potatoes which are more sustainable than animal proteins and can be used to make macarons, meringue, mayonnaise, and improved textures in cake. Moreover, rising demand for animal protein substitutes in sport nutrition and nutritional supplements has been envisaged to directly influence the development of potato protein market.
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Potato Protein Market – Notable Developments
- In March 2019, Ingredion Incorporated, a leading global provider of ingredient solutions, announced its acquisition of Western Polymer, a potato starch manufacturer for food and industrial applications. According to Ingredion, the new acquisition will expand its potato starch manufacturing capacity, improve processing capabilities, and broaden its high-quality specialty ingredients business and customer base.
- In November 2018, Avebe, a key player in the potato protein market, received the ‘Bridge2Food Protein Award 2018’ for its product Perfectasol D520. This product combines potato starch and potato protein in a unique way to make it possible to produce 100% plant-based pizza cheese.
- In October 2018, Avebe entered into partnership with Novasep, one of the leading supplier of services and technologies for the life sciences industry, to industrialize its purification unit to produce high-quality potato protein for the food industry.
Some of the most prominent competitors operating in the competitive landscape of global potato protein market include –
- Solanic BV (AVEBE Group)
- Archer Daniels Midland Company
- KMC Ingredients
- AKV Langholt
- Emsland Group
- Omega Protein Corporation
- Kerry Group plc.
- Peppes Group
- PPZ Niechlow
- Royal Ingredients Group
- WPPZ S.A.
- Kemin Industries
- Stauber Performance Ingredients, Inc.
- Ingredion Incorporated
- Cyvex Nutrition
Potato Protein Market Dynamics
Gradual increase in the demand for potato protein can be attributed to its widening range of application in nutritional supplements, dairy & frozen desserts, bakery & confectionery products, and animal nutrition for its highly functional and excellent nutritive value. In addition to high nutritional profile of potato protein, rising consumer awareness about food allergens in various products is expected to drive the growth of potato protein market. Consumer allergies to egg, milk, and soy have directly impact the demand for potato protein in various regions across the globe. Further, changes in lifestyle habits, especially among health conscious demographic, along with escalating demand for plant-based protein is likely to propel the future expansion of potato protein market.
Europe to Take Center Stage in Potato Protein Market
Europe is predicted to contribute significant revenue share to the potato protein market, owing to concentration of potato starch and protein manufacturers in the region. Rising demand for alternative to meat and other animal products in various nations across Europe will possibly complement the potato protein market growth in the coming years. Asia Pacific is also foreseen to earn high traction in the potato protein market due to rapid rise in livestock population and feed consumption.
Although the potato protein market is likely to have a positive outlook, high costs associated with the production of such proteins and their limited consumption in both food and feed industries may remain a significant challenge for players in the potato protein market.
Potato Protein Market Segmentation
Based on type, the potato protein market can be segmented into:
- Potato Protein Concentrates
- Potato Protein Isolates
Based on application/end use, the potato protein market can be segmented into:
- Food and Beverages (Bakery, Confectionery, Processed Foods, Dairy, Meat, and Others
- Feed Industry
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