According to a new report published by Allied Market Research, titled, "Potato Protien Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global potato protein market size was valued at $363.6 million in 2018, and is projected to reach $648.4 million by 2026, registering a CAGR of 7.60% from 2019 to 2026.
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 potato protein 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, nutrition, and 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.
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 growth of the global potato protein market in the near future.
The global potato protein market analysis is carried on the basis of type, application and region. On the basis of type, the market is categorized into isolates, concentrates and hydrolysates. Among these, the isolates segment led the potato protein market in terms of revenue share in 2018, however the hydrolysates segment is anticipated to grow at the highest CAGR during the forecast period. Based on application, the market is bifurcated into animal feed, meat, bakery & confectionery, supplements and others. Among these, the animal feed segment garnered the highest market share in the potato protein market in 2018, however the bakery & confectionery segment is anticipated to grow at the highest CAGR during the forecast period. Region wise, the market is studied across North America, Europe, Asia-Pacific and LAMEA.
Key findings of the Study:
- Depending on type, the isolate segment accounted for the highest potato protein market share in 2018 and is anticipated to register a CAGR of 7%. However, the hydrolyzed segment is expected to grow at the fastest CAGR of 8.90% between 2019 and 2026.
- By application, the animal feed segment accounted for about 31.5% of the market share in 2018. However, the bakery & confectionery segment is estimated to register the highest CAGR of 9.1% during the forecast period.
- Region wise, Europe accounted for about 38.23% of the market share, and is expected to grow at a CAGR of 7%. However, the Asia-Pacific region is anticipated to grow at the highest CAGR of 9.5% during the potato protein market forecast period.
The key players in the potato protein industry include Avebe, Kemin Industries, Inc., Royal Cosun, KMC Ingredients, Tereos, Roquette Frères, PEPEES Group, Agrana, Bioriginal Food & Science Corp., and Meelunie B.V.