Asia-Pacific Potato Protein Market - Growth, Trends, and Forecasts (2018 - 2023)
The Asia-Pacific potato protein market is expected to register a CAGR of 6.8% 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 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.
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 (2018-2023).
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.Major PLAYERS: AVEBE, TEREOS SYROL, ROQUETTE, AGRIDIENT, STAUBER PERFORMANCE INGREDIENTS, KEMIN INDUSTRIES, INC, CYVEX NUTRITION, AKV LANGHOLT AMBA, KMC INGREDIENT, PPZ NIECHLOW, ROYAL INGREDIENTS GROUP, MEELUNIE BV and WPPZ S.A., amongst others.
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