Potato Protein Market Expected to Reach $683.0 Million by 2027-Allied Market Research

According to a new report published by Allied Market Research, titled, “Potato Protein Market by Type and Application: Opportunity Analysis and Industry Forecast, 2021–2027,” 

The global potato protein market size was valued at $388.3 million in 2019, and is expected to reach $683.0 million by 2027 at a CAGR of 6.5% from 2021 to 2027.  

Potato protein is obtained during the process of extracting starch from potatoes. When starch is extracted, protein-rich juice is produced, which is further precipitated to extract potato protein. It is available in three types, depending on the protein concentration, isolates, concentrates, and hydrolyzed. It offers superior emulsifying, foaming, and gelling properties. Potato protein has a high content of amino acids, and is free from animal proteins or allergens. This makes potato protein an ideal component in animal feed as well as for human consumption, thereby driving the growth of the global market.

Allergenicity has become a concern for consumers globally. Several animal and vegetable proteins, such as from soy, milk, egg, or wheat are declarable allergens. In addition, proteins obtained from rice, maize, or pea provide limited solubility, enhanced nutrition, and improved texture. This gives potato protein an edge in the plant protein market, as it provides a combination of superior functionality, high nutrition, and low allergenicity. In addition, potato proteins offer superior emulsifying, foaming, and gelling properties. Furthermore, they serve as a substitute for animal proteins such as egg albumen & egg yolk, meat & meat analogues, and egg-free dressings. Moreover, they are highly regarded as an ingredient for gluten-free bakery products. 

Potato protein market segmented into type, application, and region. On the basis of type, the market is categorized into isolate, concentrate, and hydrolyzed. By application, it is segregated into animal feed, bakery & confectionery, meat, supplements, others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK. Poland, Netherland, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

According to the potato protein market analysis, on the basis of type, the isolate segment accounted for the around half of the global market share in 2019, and is expected to maintain this trend during the forecast period. Potato protein isolates are used majorly in the development of new class of formulated foods, owing to their high digestible and blending properties. They provide an edge over other types of potato protein with their higher protein concentration and benefit of color, flavor, and functional properties. Thus, they are considered an ideal raw ingredient in beverages, infant foods, and children milk food, textured protein products, and certain types of specialty foods.

According to the potato protein market trends, region wise, Europe accounted for the around half of the global market share in 2019, and is expected to maintain this trend during the forecast period. Europe was the largest revenue contributor for the potato protein market in 2018. This is attributed to the fact that it has the highest number of potato protein manufacturers as compared to other regions. Furthermore, the demand for plant-based ingredients especially in bakery food items in extremely high among European countries. Consumers are more inclined toward gluten-free and allergen-free food products, which further leads to higher utilization of potato protein among several food manufacturers. Collectively, it is likely to increase the potato protein market demand during the forecast period.

However, the availability of cereals such as wheat, oat, and barley, which are high in proteins, fiber, minerals, vitamins, and carbohydrates is expected to hamper the growth of potato protein market. 

Conversely, food products organically grown with high nutrition value are gaining elevated demand, which is expected to create a positive impact on the global potato protein market growth in the near future.

The players operating in the potato protein industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market and gain potato protein market opportunities. The key players profiled in this report include Avebe, Kemin Industries, Inc., Royal Cosun, KMC Ingredients, Tereos, Roquette Frères, PEPEES Group, Agrana, Bioriginal Food & Science Corp., and Meelunie B.V.

Key findings of the study  

• Depending on type, the isolate segment accounted for the highest potato protein market share in 2019, and is anticipated to register a CAGR of 6.0%. However, the hydrolyzed segment is expected to grow at the fastest CAGR of 7.60% between 2021 and 2027.
• By application, the animal feed segment accounted for about 31.4% of the market share in 2019. However, the bakery & confectionery segment is estimated to register the highest CAGR of 7.8% during the forecast period.
• In 2019, the Europe was the most prominent region, and is projected to reach $249.3 million by 2027, growing at a CAGR of 6.0% during the forecast period.