The global potato protein market is expected to exhibit a strong 4.88% CAGR over the forecast period from 2020 to 2030, according to the latest research report from Market Research Future (MRFR). The global potato protein market is mainly driven by the growing demand for protein replacements made from vegetable matter and the growing demand for supplementary proteins in various foods. These are likely to be the major drivers for the potato protein market over the forecast period. The leading drivers and restraints operating on the global potato protein market are assessed in detail in the report, including a detailed study of the economic background of the drivers and restraints, allowing the readers to understand the economic situation clearly and lucidly. The key macroeconomic and microeconomic factors affecting the global potato protein market are assessed in detail in the report. The global potato protein industry is expected to rise to a valuation of USD 95.6 billion by 2024.
Potato protein is widely used in meat replacement products due to the high quality of proteins in potatoes. While the amount of proteins found in potatoes is not significantly high, they are of a higher quality than those found in most other root and tuber vegetables, making them highly valuable for meat replacement producers. The growing demand for meat replacements made from plant-based sources is likely to be a major driver for the global potato protein market over the forecast period. An increasing number of people are switching to vegan or vegetarian lifestyles due to the benefits they provide in terms of environmental conservation as well as health, leading to a growing demand for meat alternatives that can act as the main body in recipes. This is likely to lead to steady growth of the global potato protein market over the forecast period.
Potato proteins are also widely used to supplement animal feed or products such as bread and other bakery products designed for human consumption. Potato proteins can be easily integrated into most such foods and have thus experienced a steady growth in demand. The growing dietary supplements and animal feed industries are thus also likely to be a major driver for the global potato protein market.
Competitive Analysis:
Leading players in the global potato protein market include Cooperatie AVEBE U.A., Tereos S.A., The Agrana Group, Roquette Freres, Omega Protein Corporation, Pepees Group, Emsland Group, Meelunie B.V., KMC a.m.b.a., and Sudstarke GmbH.
Segmentation:
The global potato protein market is segmented on the basis of type, application, and region.
By type, the global potato protein market is segmented into isolates and concentrates. Concentrates hold the dominant share in the global potato protein market, with the isolates segment likely to exhibit progressive growth over the forecast period.
By application, the global potato protein market is segmented into bakery and confectionery products, meat substitutes and analogues, sweet and savory snacks, animal feed, and others. The animal feed segment is a major revenue generator in the global potato protein market and is likely to retain the position over the forecast period due to the growing demand for supplementary fillers in animal feed products.
Regional Analysis:
Europe holds the largest potato protein market share. The growing animal feed industry in Europe is likely to be a major driver for the global potato protein market over the forecast period. The animal feed industry in Europe has not only grown in terms of overall output, but also in terms of technological sophistication. This has led to a growing demand for various types of supplements to improve the overall performance of animal feed products. The potato protein market is likely to derive significant growth from the growing demand from the animal feed sector in the coming years.
The growing animal feed industry in Asia Pacific is also likely to be a major driver for the global potato protein market over the forecast period.
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