The market is estimated to be USD XX billion in 2017 and is expected to reach USD XX billion by 2023 at a CAGR of XX% during the forecasted period 2018-2023.
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 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. Potato protein has been on the European food ingredient market since 2008 and was introduced in the U.S. market since 2009. 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. Allergenicity is a rapidly growing among the consumers globally. Many animal and vegetable proteins, such as from soy, milk, egg or wheat, are declarable allergens whereas proteins known to be lower allergenic, such as from rice, maize or pea, provide limited solubility, nutrition, and texture. But potato proteins unique is the combination of high functionality, good nutrition, and low allergenicity.
A major obstacle in this potato portein 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.
The global potato protein market is segmented into potato protein isolate and potato protein concentrate. Isolates segment accounts for the major share due to its heavy demand for gluten-free products, confectionary, and beverages. Potato protein finds its major applications in confectionery, beverages, snacks and bars, pet food, sports nutrition and ice creams. Among the applications, potato protein is majorly used in sports nutrition and is especially suitable for powder beverages and protein fortification.
Based on geography the global potato protein market is segmented into North America, Europe, Asia-Pacific, South America and Africa. North America is the chief contributor to the market due to the growing consumer awareness on the effects of animal proteins and increasing demand for gluten-free products. With increased demand for functional proteins and consumer health and safety concerns, Europe has the second largest market for potato protein. Asia-Pacific is expected to be the fastest growing region with its rising population, changing lifestyles and investments from multi-national industries.
The major players in the potato protein market are Avebe, Tereos Syrol, Roquette, Agridient, Stauber Performance Ingredients, Kemin Industries, Inc. and Cyvex Nutrition. Avebe is the largest potato protein producer with Solanic as its brand name.
Key Deliverables in the Study: