The Potato Protein market size was valued at $596.8 million in 2019 and is estimated to reach $822.6 million by 2027, registering a CAGR of 7.3% from 2021 to 2027.
Potato protein has been gaining considerable popularity among consumer owing to its high nutritional value and benefits such as improved digestive health, strength, and controlled blood sugar. Furthermore, based on dry weight, the protein content in potatoes is similar to that of cereals, thereby making potato proteins a favorable substitute to other protein sources. Potato proteins are used to fortify bakery products as well as other products industrially. Growing advancement in food and feed is likely to favor the growth of the potato protein market during the forecast period.
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For instance, introduction of effective methods of protein isolation that limit protein denaturation and functionality loss are playing a vital role in enhancing the production of potato protein commercially.
In 2019, Europe has gained major share in potato protein market accounted for more than 37.9% of the global share. Asia Pacific projected to be the fastest-growing regional market from 2021 to 2027, owing to growing disposable income and health consciousness among people, especially in developing countries including China, and India.
However, a lack of awareness among consumers and a reason to stop the increase in complexity in potato protein production hinders the growth for the potato protein market during the forecast period.
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Trends like the development of new supermarkets and hypermarkets are forecast to create favorable opportunities. Moreover, rising disposable income and growing demand for advanced one-stop solutions would further expand the industrial growth in the coming years.
The value of the FMCG sector is forecast to reach US$ 18.5 billion by the end of the year 2028 and is anticipated to grow at a CAGR of 4.9% in the forecast period. Of all the regions, North America is dominating the entire FMCG sector and is forecast to hold the largest market share during the study period. North America FMCG sector is growing significantly owing to change in lifestyles, the growing number of supermarkets, and the rising urban population. Moreover, the Asia-Pacific is forecast to record a CAGR of 7.8%, because of changing lifestyles, increasing urbanization, and rising employment rate. Apart from that, the increasing focus of companies and organizations towards R&D and new product launches would further boost the popularity of FMCG domain and escalate the regional growth of the market.
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The report segments the global Potato Protein market into type, application, and region. Depending on type, the market is classified into isolates, concentrates, and hydrolysates. The applications covered in the study include animal feed, bakery & confectionery, meat, supplements, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Poland, Netherland, Rest of Europe), Asia-Pacific (China, India. Japan, Australia, Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players in the potato protein market include Avebe, Kemin Industries, Inc., Royal Cosun, KMC Ingredients, Tereos, Roquette Frres, PEPEES Group, Agrana, Bioriginal Food & Science Corp., and Meelunie B.V.
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KEY BENEFITS FOR STAKEHOLDERS
– The study provides an in-depth analysis of the global potato protein market, with current and future trends to elucidate the imminent investment pockets in the market.
– The report provides information regarding drivers, restraints, and opportunities with impact analysis.
– A quantitative analysis from 2019 to 2027 is provided to showcase the financial competency of the market.
– Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
– Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
– Competitive intelligence highlights business practices followed by leading market players across various regions.
KEY MARKET SEGMENTS
– By Type
– By Application
o Animal Feed
o Bakery & Confectionery
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– By Region
o North America
? Rest of Europe
? Rest of Asia-Pacific
? Latin America
? Middle East
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