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Global Potato Protein Market to Grow at a CAGR of 5% During 2021-2026, Aided by the Growing Demand for Plant-Based Protein

According to a new report by EMR titled, ‘Global Potato Protein Market Report and Forecast 2021-2026’, the global market for potato protein attained a value of about USD 100.8 million in 2020. The industry is further expected to grow at a CAGR of 5% in the forecast period of 2021-2026 to reach a value of approximately USD 135.1 million by 2026.

Europe accounts for a significant share of the global market for potato protein owing to the growing vegan population in the region. The market growth can be attributed to the extensive vegan population in countries like the United Kingdom and Germany. The rising demand for plant-based protein products as a replacement for traditional meat products is surging the demand for potato protein. Moreover, the increasing potato waste in the region is escalating the demand for sustainable potato protein. As potato protein prevents the activity of cancer cells, it is projected to be used in various allergy-free and nutraceutical food products in upcoming years. In addition, technological advancements and innovations in the region are leading to the development of advanced methods for the extraction of potato protein, which is anticipated to aid the growth of the market in the forecast period.

Some of the leading companies in the market are Omega Protein Corporation (NYSE: OME) and Royal Avebe U.A. The latter started its potato campaign in August 2021. The campaign is expected to increase the production of starch potatoes in Gasselternijveen to surge the manufacturing of potato protein. Moreover, the company further invested in the Netherlands and Germany to expand its production capabilities of potatoes. It has also expanded its production of potato protein in Solanic and has built an animal feed facility in Dallmin, Germany. The campaign is expected to be completed in mid-May 2022, by the end of which the company is estimated to process 2300 potatoes in potato protein and starch. Such initiatives by the leading companies are projected to surge the demand for potato protein and are anticipated to fuel the growth of the industry in the forecast period.

Market Analysis by Application, Type and Region:

  • The market, on the basis of application, can be divided into beverage, snack and bar, and animal nutrition, among others.
  • Based on types, the industry can be divided into potato protein concentrate and potato protein isolate.
  • The regional markets for potato protein include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing spending on animal nutrition by pet owners is surging the deployment of potato protein, hence fuelling the market growth.
  • The market is being aided by the rising demand for potato protein owing to the growing popularity of gluten-free snacks.
  • The growing demand for ingredient transparency and clean-label products is increasing the deployment of potato protein in various food and beverage products, hence invigorating the market growth.
  • The increasing research and development (R&D) activities to enhance the functionality and productivity of potato protein is providing impetus to the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for potato protein for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the applications, types, and major regions of potato protein.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global potato protein market are Royal Avebe U.A., Tereos Internacional SA, Omega Protein Corporation, Pepees S.A., and Kemin Industries, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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