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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.
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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.
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