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Report
Potato Protein Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 110 Pages I Mordor Intelligence
The global potato protein market is projected to grow at a CAGR of 7% during the forecast period (2023 - 2028).
The COVID-19 pandemic played its part in the potato protein market, with a rise in demand for plant-based foods, especially proteins. During the time period, food products connected with well-being, health, ethics, and sustainability were shown to have a higher preference among consumers. With growing awareness of animal cruelty in the food industry, consumers have an increasing concern for animal welfare, which is likely to drive the market's growth and create new opportunities for product innovation.
The potato protein market is a part of the plant protein sector, with the latter growing worldwide. The reason for the market's growth is intolerance toward animal protein, the new trend toward veganism, and innovations from the manufacturer's end regarding extraction techniques and applications of potato protein. As a good source of low cholesterol (compared to animal protein), potato protein has significant applications in several categories within the food and beverage industry.
Sports nutrition is expanding globally, and the increased application of potato protein in sports drinks and weight management supplements is driving the market. Potato protein has gained much traction as an alternative to other plant proteins and is now widely used in both plant-based diets and sports nutrition products. According to recent studies, ingestion of potato protein concentrate enhances muscle protein synthesis rates at rest and during recovery following exercise.
Potato Protein Market Trends
Rising Demand for Vegan Diet
The protein market is witnessing a shift in consumer demand from animal to plant protein. This inclination toward a plant-based diet is associated with different factors, such as sustainability issues, health awareness, ethical or religious views, and environmental and animal rights. Meat proteins provide the required amino acid content to the body but are associated with high cholesterol levels and other related issues, as a result of which people are shifting to a vegan source of protein. Increasingly, more people are going vegan to lose weight and improve their health. This trend is a big driver for the valorization and uptake of high-value-added products, such as Solanic's potato proteins. This increasing inclination toward a plant-based diet signals a huge market potential for plant-based protein products.
Europe Leads the Growth in the Market
The European market poses the highest demand and usage for potato protein due to its wide application in food & beverage, nutritional supplements manufacturing, animal feed, and other related industries. The concentration of most potato protein manufacturers in the region accounts for its leading share, resulting in the highest production and consumption. Most products with plant-based proteins available in Europe, such as sausages and schnitzels, are manufactured from protein sources such as soy, but potato proteins are also being used. In the face of a shrinking Common Agriculture Policy (CAP) budget, the development of potato protein products offers EU farmers new and exciting opportunities with higher profit margins. Therefore, with a strong network of farmers, major regional cooperatives are joining the market by releasing their product iterations as demand grows worldwide. European Governments are enthusiastic about producing and consuming plant-based protein since it uses fewer natural resources to achieve the same protein content.
Potato Protein Market Competitor Analysis
The global potato protein market is highly concentrated, with a few players holding a significant market share. Currently, there are numerous small and big players in the industry. Many of them are farmer-owned cooperatives. The leading companies are - Avebe, Tereos Group, Kemin Industries Inc., Omega Protein Corporation, and AKV Langholt AMBA. The leading companies are focused on expanding their potato protein businesses in the local and international markets. Avebe and Omega Protein Corporation are among the most active companies, with Avebe having entered two partnerships, one product launch, and one expansion. Omega Protein Corporation has acquired Bioriginal and Cyvex to enhance its protein ingredient profile.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Potato Protein Concentrate
5.1.2 Potato Protein Isolate
5.2 By Application
5.2.1 Beverage
5.2.2 Snacks & Bar
5.2.3 Animal Nutrition
5.2.4 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 Australia
5.3.3.3 China
5.3.3.4 Japan
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Strategies Adopted by Major Players
6.3 Most Active Companies
6.4 Company Profiles
6.4.1 Agrana Beteiligungs-AG
6.4.2 Omega Protein Corporation
6.4.3 Avebe
6.4.4 Tereos Group
6.4.5 Roquette Freres
6.4.6 Meelunie B.V.
6.4.7 Kemin Industries, Inc.
6.4.8 AKV Langholt AmbA
6.4.9 Sudstarke GmbH
6.4.10 Pepees S.A.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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