The Global Market for Potato Protein is estimated to reach an approximate valuation of US$ 268.7 Mn in the forecast period.
Industry: Food and Beverages
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 285
Report ID: PMRREP31500
The market for potato protein can be expected to expand at a value based CAGR of 6.3% and show an increase in revenue from US$ 146.2 Mn to around US$ 268.7 Mn by 2032.
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Potato Protein Market Size (2023E) |
US$ 146.2 Mn |
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Projected Sales of Potato Protein (2033F) |
US$ 268.7 Mn |
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Value CAGR (2023-2033) |
5.9% |
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Value Share of Top 4 Countries (2022E) |
38.6% |
The global potato protein market has witnessed significant growth in the historical period registering a CAGR of 5.9% in the historical period and was valued at US$ 146.2 Mn in 2023. The shifting consumer preference towards plant-based protein alternatives is the major factor driving the global potato protein market. The demand for potato protein is increasing owing to the increasing vegan and vegetarian population and increasing lactose intolerance in the consumers.
Potato protein is gaining increased penetration in the food processing industry owing to its ability to improve the taste, texture, stability, appearance and convenience of food products. The increasing consumer demand for plant-based ingredients that fulfil animal-friendly and vegan claims has triggered the growth of potato-protein in food processing industry. The well-balanced amino acid composition in potato protein make them a more sustainable source of protein as compared to majority of the animal-based proteins.
The global market for potato protein is estimated to reach an approximate valuation of US$ 268.7 Mn in the forecast period.
“Consumers Pushing for Diversification of Protein Sources”
Increasing consumer awareness regarding health and the environment and the continuously increasing global population has led to a surge in demand for plant-based proteins, meat replacements and other plant-based industrial ingredients. Increasing consumer interest in foods that nurture health and well-being, rising awareness regarding the benefits of plant-based proteins and adoption of environmental stewardship and increased awareness regarding animal cruelty are the major factors driving the plant-based proteins market.
Environmental, health and cultural changes have created favourable market conditions for the key players engaged in the production of plant-based proteins. The unique nutritional content and texture of potato protein is boosting the growth of the potato protein market globally.
“Compatibility of Potato Protein with Vegan, Vegetarian and Flexitarian Lifestyles”
A majority of the key players operating in the food and feed industry are turning towards offering ‘meat free’ products in their portfolios. The development of the plant-based protein industry is greatly driven by the mainstream emergence of ‘flexitarian’ consumers, as well as the increasing number of vegans and vegetarians in response to a combination of environmental, ethical and health concerns.
According to the Vegan Society, vegan population in the U.K. has quadrupled in the last 5 years and the number of vegans in the U.S. rose by 600% from 2014 to 2018. The exponential growth pattern of vegan food in developed as well as developing nations has led to increased adoption of plant-based proteins as an alternative to animal protein by the key players operating in the food and feed industries.
“Growing Customer Demand for Transparency and Safety Assurance”
It is evident that there is an increase in the importance of conscious consumption, where consumers pay careful attention to the ethics of the food being purchased. Food manufacturers across the globe are aware of the fact that their processes are being closely monitored. Demand for clean label solutions from the consumers has grown in the past five years. Most consumers across the globe look for ingredient transparency, which helps them to make informed decisions about purchases.
With technological advancements, consumers are focusing on tracing the journey of plant-based proteins from source to consumption to ensure complete food safety. Manufacturers are emphasizing on offering complete transparency in the supply chain, right from sourcing of ingredients to the delivery of the final products, to meet the demand for transparency from customers.
“Expensive Price Point of Plant Based Protein can restrain the Market Growth.”
The price of any product is an inseparable factor that can decide the future of any product in the market. Plant-based proteins generally have high prices due to the scarcity of resources and high processing costs. Though the nutritional properties of plant-based proteins are the driving factor for the market, high costs of plant-based proteins in emerging economies can hamper the market growth of plant-based proteins.
Apart from this, the increased penetration of pea protein and soy protein in the market is among the biggest threats for potato protein manufacturers. Widespread application of pea protein in food is a major factor restricting the growth of the potato protein market.
Why is the U.S. a Noteworthy Market for Potato?
Until 2019, potato protein sales across the U.S. experienced a Y-o-Y growth of over 5% to reach US$ 31.1 Mn. The market is set to reach a volume of approximately 30,000 tons by the end of 2030. Increased demand for processed food products with natural ingredients and increased inclination for plant-based food products are some of the major factors responsible for the growth of the potato protein market in this region.
Why is India Set to Experience High Volume Growth Rate during the Forecasted Period?
The food processing industry in India has gained importance in recent years and is expected to witness robust growth in the forecasted period. Rapid urbanization, availability of raw materials, changing dietary preferences, and relaxation of government policies has given a considerable push to the industry’s growth in this region. The food processing industry in India proves to be a vital link between the industrial and agricultural segments of the economy. Increasing consumer concerns about health and raising awareness about the effects of chemical additives are the major factors pushing the key players operating in the food processing industry to use more plant-based ingredients. High demand for more natural additives in food manufacturing is expected to propel the demand for potato protein in the future.
Why Will Potato Protein Usage Grow Significantly in Bakery & Confectionery Industry?
Potato protein is often identified by its ability to offer consumers a high nutritional profile and its versatility in different industrial applications. Potato protein offers excellent foaming, gelling, and emulsifying properties and can be expansively utilized as a substitute for various high-value animal proteins in bakery and confectionery products. It also proves to be an excellent substitute in egg-free dressings, meat analogues, non-dairy cheese, and many gluten-free bakery goods, which is expected to increase its demand in the bakery and confectionery industry in the future. According to Persistence Market Research projections, the utilization of potato protein in the bakery and confectionery industry is set to witness 2X volume growth approximately during the forecasted period.
Why is more than 60% of the Potato Protein Volume Share Accounted by Potato Protein Isolate?
The high value, as well as volume share of potato protein isolate as compared to potato protein concentrate, can be justified by the nutritional profile of these ingredients. There are several nutritional differences between potato protein concentrates and potato protein isolate, mainly caused by the processing methods. Potato protein isolate is highly processed and contains high protein content, giving it a better nutritional profile. Potato protein isolate are primarily produced as food-grade ingredients and preferred by a majority of the key players in the food processing industry.
Setting up new plant-based companies, expansion, diversification, and adjustments in product offerings to ensure alignment with the current market scenario and pursuing acquisitions to enhance the product portfolio are some of the key expansion strategies identified by the key players for strengthening global presence to create expanded room for opportunities. Key players engaged in the production of potato protein are also focusing on product expansion strategy to target new markets, increase revenue streams and increase market share
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Attribute |
Details |
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Forecast period |
2023-2033 |
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Historical data available for |
2017-2022 |
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Market analysis |
USD million for value |
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Key regions covered |
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Key countries covered |
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Key market segments covered |
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Key companies profiled |
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Report coverage |
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Customization & pricing |
Available upon request |
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The global market for potato protein has a value of US$ 146.2 Mn in 2023.
The global market for potato protein has a value CAGR of 5.7% from 2017-2022.
The global market for potato protein has a value of US$ 268.7 Mn in 2033.
The global market for potato protein has a value CAGR of 6.3% from 2023-2033.
The top players in the global potato protein market includes Avebe U.A., AKV Langholt AmbA, KMC Kartoffelmelcentralen A.M.B.A, Tereos, and Kerry Group.
