Global Potato Protein Market - Growth, Trends and Forecasts (2017 - 2022)
The global potato protein market is estimated to be USD XX billion in 2016 and is expected to reach USD XX billion by 2021 at a CAGR of XX% during the forecasted period 2016-2021.
Global Potato Protein Market Dynamics
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. Rising demand for healthy, nutritious and gluten free products and consumer demand for clean-label products are the major drivers of the market. As the companies are failing to provide evidence for the health claims, preventing them from advertising the nutritional benefits of the product; and the low consumer awareness of non-soy proteins are the major constraints for the growth of the market.
Global Potato Protein Market Segmentation
The 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.
Key Players in the Global Potato Protein Market
The major players in the 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.