Potato protein is gaining popularity due to increased demand for plant-based protein across the world. Potato protein is increasingly been used in baked goods, owing to its excellent gelling, foaming, and emulsifying properties. The plant-based food revolution is propelled by growing cohort of vegetarian and alternative protein solutions.
Demand for plant-based food is rising rapidly, powered by increasing consumer enthusiasm for health, sustainability, and animal welfare, and putting increased emphasis on a plant-centric diet. Rise in vegan population has increased demand for meat alternatives, dairy-free products, and eggless products. Potato protein, being a plant-based protein, works wonders as a substitute for meat products, which is projected to increase sales in the potato protein market across demographics. As per PMR, the global potato protein market is projected to expand at a rate of 7%, and reach a value of US$ 300 Mn by 2030.
Key Takeaways from Potato Protein Market Study
- Market value for food applications holds a large share and is expected to grow at a rate of 6%. Surge in demand for plant-based protein will boost global demand for potato protein.
- Rising demand for potato protein from the animal feed industry is expected to raise the market value from US$ 56 Mn in 2020 to US$ 96 Mn by the end of 2030. Potato protein is suitable for usage in a wide range of high grade animal feed applications such as young piglets and calves, and pet food production.
- Among all the regions, Europe is dominating the global potato protein market share, owing to high production and consumption of potato protein in the region. Europe holds a market value share of 38%. In emerging markets, South Asia is projected to be a lucrative market.
- Though the COVID-19 pandemic is having a slight adverse effect on the potato protein market, rising demand for plant-based protein during the crisis is aiding market expansion.
“Earlier, manufacturers involved in the production of potato protein were mostly offering products to animal feed manufacturers. But now, many of them are working to make food grade potato protein, as this can be used in baked goods as a natural emulsifier, which is better than chemical-based emulsifiers,” says a PMR analyst.
Global Potato Protein Market – Competition Landscape
The potato protein market is consolidated in nature, with a very few players operating in this industry. Avebe U.A is the largest manufacturer of potato protein, holding around 25-30% share of the global potato protein market. The company offers potato protein for food as well as feed applications. Manufacturers are involved in innovating and developing products to cater to global demand for potato protein.
- In 2017, Avebe U.A. launched solanic 100 isolates, which are suitable in making snacks, breakfast cereals, and baked goods. Potato protein offered by the company under the brand Solanic is excellent for meat analogues, high protein bars, dairy-free ice cream, eggless cakes, and other bakery products.
Explore More Valuable Insights on Potato Protein Market
Persistence Market Research, in its new report, offers an impartial analysis of the global potato protein market, presenting historical data (2015-2019) and estimation statistics for the period of 2020-2030. The study offers compelling insights on the potato protein market based on form (isolates and concentrates) and application (food & beverages and animal feed), across seven regions.
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