The growing interest of vegans and vegetarians on protein sources is increasing the number of new vegan products which is escalating the scope for manufacturers to increase their potato protein market share. At present, vegans and vegetarians prefer protein-rich products in order to maintain muscle strength and for weight loss. This factor is attributable to the acceptance of more potato protein, particularly by celebrities and athletes. Wide range applications of potato protein in the feed industry, majorly in cattle and swine feed to provide high nutritional value is also positively impacting the potato protein market.
Furthermore, the global potato protein market size stood at $78.2 million in 2018 and is projected to grow with a CAGR of 4.1% throughout the forecast period 2019-2025.
Increasing consumption of potato protein in the food and beverage (FNB) industry predominantly in the bakery and processed food is resulting in the increment of the potato protein market size. Therefore, the application of potato protein in the food and beverage industry is set to grow at the fastest CAGR of 3.9% through to 2025. The rising demand for vegetable protein which has the same functional properties as of animal protein is helping the companies to stand ahead of the curve in terms of potato protein market share. The companies are thriving predominantly because of the adoption of an effective process of extraction which supports to extract the high-quality vegetable protein from the starch potato in order to fulfill the increasing demand for vegetable proteins.
Europe Potato Protein Market:
Belgium, Spain, and the Netherlands accounted for a share of 25% in the total fresh of chilled potatoes imports. 2% annual growth was recorded in the worldwide fresh potatoes import value during 2017-2018. Europeans’ focus on starch potato protein is evident with the visit of a large committee from the European Parliament to Avebe’s advanced vegetable protein plant at Gasselternijveen. This visit is also replicating the prominence given by the European Parliament and the provincial authority for climate-friendly and innovative food production. The Europe vision is supporting the transition to vegetable proteins, which in return, is increasing the demand for vegetable protein in Europe.
Major Players in Potato Protein Market – Competitive Landscape:
Avebe, Roquette Feres, Tereos Starch & Sweeteners S.A.S., Agrana Beteiligungs AG, Pepees Group, Emsland Group, Meelunie B.V., KMC Ingredients, AKV Langholt AmbA, and PPZ S.A. are the potato protein top 10 companies.
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