The potato protein market is projected to grow at a CAGR of 4.1%
NEW YORK, Jan. 23, 2018 /PRNewswire/ -- The potato protein market is projected to grow at a CAGR of 4.1%.
The potato protein market is estimated to be valued at USD 72.2 million in 2017 and is projected to reach USD 88.2 million by 2022, at a CAGR of 4.1%. The market is driven by the rising vegan population, increase in consumer concerns regarding food allergens in products, and high nutritional profile of potato proteins. High costs of production and limited consumption of potato protein in the food and feed industries are the major restraints for the growth of this market.
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Concentrates led the market with the largest share in 2016.
Concentrates dominated the market for potato protein in 2016; it is also projected to grow at the highest CAGR during the forecast period due to the high consumption of concentrates in the feed industry. Further, potato protein isolates are still in the development phase and are of use mostly in food applications, resulting in the market dominated by the concentrates segment.
Feed projected to be the fastest-growing segment from 2017 to 2022.
The potato protein market was dominated by the feed segment in 2016. It is also projected to grow at the highest CAGR during the forecast period.
This is attributable to wide-scale application of potato protein in the feed industry, mainly in cattle and swine feed. Also, currently, potato protein finds limited usage in the food industry due to its high instability and insolubility after isolation by thermal coagulation of the juice.
Europe led the potato protein market with the largest share in 2016.
The European market was the largest in 2016, owing to the presence of most potato protein manufacturers in the region. Also, this region is the largest in terms of production as well as consumption. The Asia Pacific market is projected to be the fastest-growing from 2017 to 2022 and is driven by China, Australia, and Southeast Asian countries as consumers in these countries are becoming more aware of food allergens in products.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as follows:
• By Company type: Tier 1: 28%, Tier 2: 33%, Tier 3: 39%
• By Designation: C-level: 49%, D-level: 21%, Others: 30%
• By Region: North America: 25%, Europe: 30%, Asia Pacific: 40%, RoW: 5%
Key potato protein players include the following:
• Avebe (Netherlands)
• Tereos (France)
• Roquette (France)
• Agrana (Austria)
• Omega Protein (US) (Switzerland)
Other players in the potato protein market include the following:
• Peppes Group (Poland)
• Emsland Group (Germany)
• Meelunie (Netherlands)
• KMC Ingredients (Denmark)
• Südstärke (Germany)
• AKV Langholt (Denmark)
• PPZ Niechlow (Poland)
The key players in the potato protein market adopted mergers & acquisitions as their key growth strategy to increase their market share and profits. Expansions accounted for the second-highest share of the total developments, followed by new product launches.
Research Coverage
The report analyzes the potato protein market across different types of potato proteins and regions. It aims at estimating the market size and future growth potential of this market across different segments such as type, application, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall potato protein market and for the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report will also help the stakeholders to understand the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
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