Plant-based proteins can be separated or concentrated for addition to a variety of food and feed products. The dietary shift to more plant-based foods can be seen as an important tool for reducing environmental impact and achieving the Sustainable Development Goals. Vegetable foods have less environmental impact than animal foods. Signs of plant-based protein development in the majority of developed countries represent new growth opportunities for key players and farmers in the food industry.
Potato protein is a value-added ingredient extracted from potato juice, which is a by-product of potato starch production, and contains about 1.5% protein. It provides better nutritional value and functionality compared to many other botanical sources. In addition, allergenicity to potato protein is rare and is more preferred by many manufacturers as a plant-based protein component.
Thus, the high nutritional profile and functionality provided by potato protein is expected to drive growth in the potato protein market with an expected CAGR of close to 7% by 2030.
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Key points from potato protein market research
- The food processing sector is expected to exhibit a high value CAGR of approximately 7% during the forecast period and hold more than 65% of the global value share. Due to the high functionality of potato proteins, bakeries and confectionery are expected to dominate the food processing industry.
- Demand for potato protein is expected to grow rapidly from developing markets in South Asia, including India, Thailand and Indonesia, with an expected CAGR of around 10% by 2030.
- Europe leads the global potato protein market, followed by North America.
- Sales of potato protein isolates are expected to be approximately 1.5 times higher than potato protein concentrates in terms of quantity. Due to the high protein content of potato protein isolates, an exponential increase in demand is also expected.
- The outbreak of COVID-19 adversely affected the plant-based protein industry. However, as the demand for more nutritious and health-beneficial ingredients increases, the losses suffered by the potato protein industry are expected to recover in the short term.
- The Indian market is projected to grow at an impressive CAGR of nearly 11%, while the Chinese market is set at 10% by 2030.
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Competitive landscape
Major players engaged in the production of potato protein are focused on identifying new locations to take advantage of the booming plant-based protein market.
- In 2018, Avebe UA established a new innovation center on the Zernike campus in Froningen. This new innovation center was dedicated to the development of potato starch and potato protein products.
- In 2020, AGRANA Beteiligungs-AG invested US $ 3.8 million in expanding its R & D facility. The company has invested US $ 2.8 million to open a new development center in Mitley Molly, France. Invested US $ 1 million in expanding the research center ARIC in Trun.
Key players are also focusing on expanding their product portfolio in line with consumer trends
- In 2020, AGRANA Beteiligungs-AG expanded its organic products in Switzerland and Liechtenstein. With this, the company sought to meet the growing customer demand for organic products. It also helped strengthen our position in these areas.
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