Los Angeles, United States, September 24, 2019 –The latest report published by QY Research, titled, “Global Potato Protein Market Report, History and Forecast 2014-2025”, anticipates the market will reach US$110 mn by 2025 from US$88 mn in 2018. The market will register a CAGR of 3.1% throughout the forecast period of 2019 and 2025. The market is mainly driven by the increasing awareness about the nutritional value of potato proteins, consumer concerns about food allergens in products, and vegan population.
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Increasing Consumption of Dietary Protein to Drive Market Growth
The global potato protein market is increasing due to its rising popularity of potato protein. Its high nutritional value and myriad health benefits are expected to boost the market over the forecast period. The product is broadly used in dairy, food supplements, and infant formulas. Growing consumption of dietary protein and rapid expansion of the food industry will also propel market growth. The growing vegan population that heavily relies on plant-based nutrition is anticipated to the key consumers. Furthermore, the innovative technologies in the feed industry are also expected make a significant contribution to the market growth. Increasing health consciousness will be augment usage of potato protein in various smoothies and shakes will also augment the product demand during the forecast period.
Also, expanding research and development activities in the food and beverages sector will fuel market growth. Moreover, increasing number of manufacturers in the food and beverages industry have also played a major role in opening up opportunities for the global potato protein market by developing innovative products.
Feed Segment to Lead Global Potato Protein Market
The global potato protein market is segmented into product type and application. The application segment includes food and feed industry. Feed industry segment is expected to grab significant market share, as potato protein is broadly used in poultry diets, as it works as antibiotics. Product type is segmented into high purity potato protein (≥80%), low purity potato protein (<70%), and medium purity potato protein (70%-80%).
Europe to Hold the Largest Position in Potato Protein Market
Europe will grab the largest market share due to increasing demand for dietary supplements in this region. Asia Pacific is also expected to be a major contributor the global potato protein market due to presence of various key players in this region and companies are focusing on research and development activities to enhance product innovation. Growing consumption of food supplements and soaring popularity of sports nutrition are expected to expand the demand for potato proteins in Asia Pacific region.
Some of the Key Players of the Global Potato Protein Market are
China Essence Group, Avebe, WPPZ, Tereos, Agrana, Roquette, PPZ Niechlow, AKV Langholt AMBA, Pepees, Emsland-StärkeGmbH, Südstärke, KMC (Kartoffelmelcentralen), Royal Ingredients Group, and Meelunie.
Companies have adopted business expansion strategies to gain remarkable market share. For instance, in May 2019, Roquette, a global leader in plant-based ingredients for health, food, and nutrition. The company opened its new research and development center in Panevezys, Lithuania to strengthen its position in Northern Europe to address better nutrition, health, and industrial challenges.
● Consumer concerns about food allergens in products will thrive market
● Europe is the fastest-growing market over the forecast period
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