Portland, OR, March 10, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global potato protein market garnered $388.3 million in 2019, and is estimated to reach $683 million by 2027, registering a CAGR of 6.5% from 2021 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
Rise in demand for plant based protein, increase in awareness of allergen-free foods, and rise in adoption of vegan lifestyle drive the growth of the global potato protein market. However, lack of R&D process and low protein concentration in potatoes impede the market growth. Moreover, surge in demand for organic and clean label food ingredients is expected to usher a plethora of opportunities in the coming years.
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Covid-19 Scenario-
- The outbreak of the pandemic led to the disruptions in supply chain and suspension of manufacturing activities due to lack of labors.
- However, as the government bodies have now eased off several relaxations, the industry is expected to recover soon. Also, the demand for potato protein is expected to increase post pandemic, owing to the growing preference towards plant-based proteins
The global potato protein market is segmented into type, application, and region. Based on type, the isolate segment highest market share in 2019 with more than two-fifths of the global market in 2019, and is expected to dominate in terms of revenue throughout the forecast period. On the other hand, the hydrolyzed segment is expected to portray the highest CAGR of 7.6% from 2020 to 2027.
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Based on application, the animal feed segment dominated the market with highest share in 2019, accounting for nearly one-third of the global potato protein market in 2019, and is estimated to dominate the market throughout the forecast period. However, the bakery and confectionery segment is expected to showcase the fastest CAGR of 7.8% from 2020 to 2027.
Based on region, Europe accounted for highest market share based on revenue, with nearly two-fifths of the global potato protein market in 2019, and is expected to maintain its dominant position throughout the forecast period. At the same time, the Asia-Pacific is estimated to portray the fastest CAGR of 8.2% from 2020 to 2027. The report also studies the market in regions including LAMEA and North America.
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Major market players profiled in the report include Avebe , Kemin Industries, Inc., Royal Cosun, KMC Ingredients, Tereos, Roquette Frères, PEPEES Group, Agrana, Bioriginal Food & Science Corp., and Meelunie B.V.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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