PORTLAND, Ore., Aug. 4, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Potato Protein Market by Type (Isolates, Concentrates, and Hydrolysates) and Application (Animal Feed, Bakery & Confectionery, Meat, Supplements, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026."According to the report, the global potato protein market garnered $363.6million in 2018, and is estimated to reach $648.4million by 2026, registering a CAGR of 7.6% from 2019 to 2026.
Drivers, restraints, and opportunities-
Increase in demand for plant based protein, surge in awareness of allergen-free foods, and rise in adoption of potato protein in animal feeddrives the growth of the global potato protein market. However, high production cost and low application in food and beverage industry hinder the market growth. On the other hand, rise in demand for organic proteins and surge in awareness of potato protein in emerging economiesare anticipated to offer new opportunities in the coming years.
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- The potato protein market has beenimpacted during coronavirus pandemic due to its wide applications in animal feed, bakery & confectionery, meat, and supplements.
- The restriction on number of workers in manufacturing activities and disruption in supply chain due to active lockdown has impacted thepotato proteinmarket.
The isolatesegment to maintain its lead status-
Based on type, the isolatesegment accounted for more than two-fifthsof the global potato protein market in 2018, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due toits high digestibility and blending properties.However, the hydrolyzedis estimated toportray the highest CAGR of 8.9% from 2019 to 2026. The hair conditioning, skin conditioning, and antistatic propertiesof potato protein drive the growth of the segment.
The animal feedsegment to maintain its leadership position-
Based on application,the animal feedsegment contributed to the highest market share with nearly one-thirdof the global potato protein market in 2018, and is estimated to maintain its leadership position during the forecast period. This is due to digestible essential amino acid profile and low ash & mineral content which is nutritional for animals. However, the bakery and confectionery segment is estimated to generate the fastest CAGR of 9.1% from 2019 to 2026. This is attributed tothe rising trend of gluten-free and vegan bakery products across the globe.
Europe, Followed by North America to dominate the market by2026-
Based on region, Europe, followed by North America,accounted for the highest share based on revenue, holding for nearlytwo-fifthsof the global potato protein market in 2018, and is projected to maintain its dominant position throughout the forecast period.This is due to the presence of maximum number of potato protein manufacturers in this region. However, the Asia-Pacific is estimated to generate the fastest CAGR of 9.5% from 2019 to 2026. This is attributed tothe popularity of potato protein as an ideal feed ingredient for livestock in this region.
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Leading market players
- Kemin Industries, Inc.
- Royal Cosun
- KMC Ingredients
- Tereos, Roquette Frères
- PEPEES Group
- Bioriginal Food & Science Corp.
- Meelunie B.V.
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