MAR 2018
Potato Protein Market
Market Insights
The Asia-Pacific potato protein market was valued at USD XX billion in 2017 and is expected to reach USD XX billion by 2023 at an estimated CAGR of 6.8% during the forecasted period 2018-2023.
Market Dynamics
Over the years consumer preferences have been shifting from animal to sustainable plant proteins. Many prefer meat-free and vegan diets which drive the demand for high value-added products like potato protein. Potato Protein market in Asia-Pacific is booming, driven by a major market need for protein, such as weight management, active nutrition, and healthy aging. Moreover, global protein usage, in general, is increasing due to the growing health concern population. Major drivers are consumer preference for animal protein substitutes, rising demand for healthy, nutritious and gluten free products and consumer demand for clean-label products.
Many animal and vegetable proteins, such as from soy, milk, egg or wheat, are declarable allergens whereas proteins are known to be low allergenic, such as from rice, maize or pea, provide limited solubility, nutrition, and texture. However, potato proteins is the combination of high functionality, good nutrition, and low allergenicity, which is driving the overall market in the region.
A major obstacle in Asia-Pacific potato protein market is the lack of awareness of the product. Many consumers think that the use of animal sources for protein is superior. Moreover, the availability of alternate sources of plant protein such as soy and gluten is another restraint in the potato protein market.
There exists great scope for improvement in protein delivery through further research and development, as there lies an opportunity for potato protein market for condition specific nutrition along with satiety and weight management nutrition.
Market segmentation
On the basis of type, the market can be segmented into potato protein isolate and potato protein concentrate. Extracted by specialized technologies, the protein composition of the isolate is said to contain somewhere between 90-95% amino acid concentrations, along with high bioavailability and solubility. This amino acid content exceeds the content in soybean protein isolates and the overall recommended daily nutrition allowances, which have successful applications for sports nutrition.
On the basis of application, the market can be segmented into snacks& bars, beverage, sports nutrition, pet foods and others. Among all, the beverage segment is expected to witness strong growth, followed by others.
The other plant protein market (includes hemp seeds, algae, rapeseed, oats, barley, and vegetable protein sources such as beans, and potato) was valued at USD 7.3 million in 2016, at an estimated CAGR of 7.2% during the forecast period (2017-2022).
Regional Analysis
The region has major growing economies such as India, China and developed economy like Japan. The Asia-Pacific potato protein market is anticipated to witness growing demand for potato protein in the South East Asian nations as well such as Vietnam, Malaysia, Indonesia etc., owing to increasing number of tourism and increasing demand for plant based protein products.
Competitive Landscape
The companies are promoting the potato protein ingredient as green, safe, healthy, and less costly compared to competitors’ product offering and thus, consumers are ready to pay a premium for it. Some of the prominent players in the market include Avebe, Tereos group, Roquette, AKV Langholt AMBA, Royal Ingredients Group, Meelunie BV, PPZ Niechlow, WPPZ S.A., Kemin Industries, Cyvex Nutrition, Stauber Performance, KMC Ingredient, and Agridient.
Our report on Asia-Pacific Potato Protein market covers the following-
