North America Potato Protein Market
North America Potato Protein Market (Nature: Organic and Conventional; Type: Potato Protein Isolate and Potato Protein Concentrate; and End Use: Food Processing, Animal Feed, and Others) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- Food & Beverages
- 189 Pages
Fresh Products with Potato Protein Witness High Demand During COVID-19 Pandemic
In the light of concerns regarding food security during the coronavirus pandemic, manufacturers in the North America potato protein market are capitalizing on the demand for potatoes. Agriculture, one of the essential industries during the COVID-19 crisis, has been witnessing a spike in the demand for potatoes, since consumers are conscious about maintaining optimum health to maintain immunity against the novel infection.
Companies in the North America potato protein market are increasing efforts to use ingredients of fresh potatoes in their ready-to-eat products and meat alternatives. Along with the rise in the demand for rice, wheat flour, bread, and pasta, producers are maintaining robust supply chains for health conscious and vegan customers to build credibility.
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Are Potato Protein Products Good for Health?
The North America potato protein market is expected to reach the valuation of US$ 67.9 Mn by 2031. However, consumers have a common perception that certain potato protein products undergo rigorous processing and its consumption may lead to weight gain. Hence, companies are manufacturing products that undergo minimal processing in order to boost their uptake. They are suggesting consumers to pair potato protein products with healthy toppings to enhance the nutritional profiles of a consumer’s diet.
Manufacturers in the North America potato protein market are suggesting customers about healthy cooking methods instead of frying to help them consume a well-rounded diet.
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Right Balance of Amino Acid Composition in Products Supports Animal Nutrition
Companies in the North America potato protein market are tapping into value grab opportunities in human as well as animal nutrition. Manufacturers are gaining popularity for increasing their marketing capabilities for high-performance potato protein isolates that have great potential for product innovations. They are striking the right balance of amino acid composition in products to increase their biological value, and bring it at par with egg and whey protein.
Foaming, emulsifying, and gelation applications are driving the North America potato protein market. Manufacturers are increasing the availability for food-grade potato proteins. Animal-friendly and vegan claims are translating into revenue opportunities for producers. Moreover, potato proteins are more sustainable than animal proteins.
Preference for Potato Protein to Wheat-based Products in Bakery
Apart from food, companies in the North America potato protein market are exploring growth prospects in beverages. For instance, potato fruit water is being highly publicized as a protein-rich liquid, which is produced by the separation of starch from the potato residue and drying it.
Pet food manufacturers are opting for protein-rich liquids to draw innovations in their products. Manufacturers in the North America potato protein market have entered the competition to supply high performance and vegetable-based potato protein, which helps them in their future branding strategies. Bakery and confectionary are other niche areas that are fueling the demand for potato protein, as it serves as a natural gluten-free alternative to wheat-based products.
Potato Protein Stimulating Muscle Protein Synthesis in Young Women
Meat and dairy-free alternatives are triggering the demand for potato protein. Since more number of people are gravitating toward vegetable-based diet, potato protein is gradually becoming an integral part of the consumer’s palatable food recipes. Such trends explain why the North America potato protein market is slated to register a healthy CAGR of 5.8% during the assessment period.
Potato protein is gaining recognition for to increase nutrition in women. Since the recommended daily allowance of protein might be insufficient for women, consuming potato protein is being associated with muscle maintenance. Manufacturers are becoming aware that women consuming additional potato protein are more likely to maintain muscles. Potato protein isolates are found to stimulate muscle protein synthesis at rest and with resistance exercise in young women.
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Potato protein has gained increased importance during the COVID-19 outbreak as part of ensuring food security during this crisis. Low allergenicity, texture improvement, and high nutritional value are being preferred in human and animal nutrition.
However, the amount of protein found in potatoes is considerably less as compared to animal-derived sources of protein. Hence, companies in the North America potato protein market need to scale up their production capacities and adopt innovative manufacturing methods that boost volumes and offer cost efficiency. They are using the bio-refining approach to produce protein-rich liquid that can be used in pet food and animal nutrition products.
North America Potato Protein Market: Overview
- The recent market study on the North America potato protein market by the Transparency Market Research finds that the market value for 2021 is estimated to be US$ 38.5 Mn, and the market is expected to expand at a CAGR of 5.8% during the forecast period. According to the recent report, the market is projected to reach US$ 67.9 Mn by the end of 2031.
- Potato protein is gaining traction in bakery products and confectionery, owing to increased interest of consumers in naturally sourced ingredients. The growing bakery industry is driving the potato protein market in North America.
- The high demand for potato protein can be attributed to its increased application in the food industry. The demand is also increasing from the feed industry, as feed manufacturers are focusing on added value and ingredients to end products.
North America Potato Protein Market: Key Takeaways
- Among types, the potato protein isolates segmented is expected to account for the higher share of the market by 2030. In terms of value, the potato protein isolates segment holds 65% value share of the potato protein market in North America.
- In terms of end use, the food processing segment is dominating the market with around 67% value share of the market. The bakery & confectionery sub-segment holds the largest share of the food processing segment due to the robust demand of bakery products in North America.
- Based on nature, the conventional segment is projected to value US$ 33.9 Mn in 2021. With rising awareness, the demand for organic potatoes in the potato protein market is likely to grow at a CAGR of 6.6% in North America.
North America Potato Protein Market: Trend
- Demand for clean label ingredients for use in bakery and confectionery products: The well-established bakery industry is a major factor fueling the demand for potato protein in North America. The demand of potato protein is high in North America due to high disposable income of consumers in the region. The potato protein market had witnessed robust growth in the past decade with changing food perception of consumers, as consumers are ready to pay extra for premium and high quality products. A shift in food choices has been observed among consumers; they are looking for naturally sourced plant-based ingredients, which, in turn, shows positive impact on the sales of potato protein. The bakery industry is among the fastest growing segments of the food & beverages industry, owing to rise in population consuming bakery and confectionery products. Consumers concern for their health as well as animal welfare are supporting the consumption of plant-based protein.
- Surge in population adopting veganism: Over the past few years, the popularity of vegan diet has grown, and it is predicted to expand during the forecast period. This will contribute to the growing appetite around the world for milk-free goods. As the trend of adopting vegan diet is rapidly growing across the globe, the demand is high in developed markets such as the U.S. and Canada attributed to the large number of consumers adding dairy-free products to regular diets. Potato protein is preferred by vegans to replace egg white in various recipes. The high popularity of plant-based food products is the key factor fueling the potato protein market in North America. Surveys concludes that the food manufacturers are constantly focused on sourcing plant-based ingredient to satisfy rising consumer demand. Moreover, processed meat manufacturers are also offering products that are made by using of potato protein ingredients.
Strategies Adopted by Manufacturers to Increase Sales of Potato Protein
- The North America potato protein market is largely characterized by large players that share around 30%-40% of the total market share. Manufacturers engaged in the business of potato protein production are aiming to expand business, and market players are adopting various strategies. Manufacturers are focused on mergers and acquisitions of business, which offer similar product line. Manufacturers are partnering with customers to provide tailored solution according to the needs of the client. Companies are constantly offering wide range of products to cater the growing demand for potato protein in bakery & confectionery industry.
- In 2019, KMC Kartoffelmelcentralen A.M.B.A expanded its product portfolio with the launch of a new product called Protafy 130, a new food-grade potato protein
- In 2017, AKV Langholt AmbA entered into a joint venture with Lihme Protein Solution and KMC Kartoffelmelcentralen A.M.B.A. This venture was executed to establish commercial production of functional potato proteins from potato fruit juice.
- In order to achieve greater market share, major potato protein manufacturers are growing their regional footprint. It is expected that the establishing joint warehouses in key locations would remain a major success factor for businesses.
North America Potato Protein Market: Key Players
- Some of the key players engaged in manufacturing of potato protein market in North America are
- Avebe U.A
- AGRANA Beteiligungs-AG
- Roquette Frères S. A.
- KMC Kartoffelmelcentralen A.M.B.A
- Lyckeby Starch AB
- AKV Langholt AmbA
- Kerry Group
- Emsland Group
North America Potato Protein Market – Scope of the Report
Transparency Market Research (TMR) has recently published a market study on the North America potato protein market. It provides a detailed assessment of key market dynamics, including drivers, trends, opportunities & restraints, and detailed information about the potato protein market structure in North America. The market study presents exclusive information about how the potato protein market in North America will grow during the forecast period of 2021-2031.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are elaborated in the study in a comprehensive manner. This information is intended to help readers understand the quantitative growth prospects of the North America potato protein market during the forecast period.
The study is intended to offer a holistic market overview to stakeholders in the North America potato protein market, including manufacturers, suppliers, distributors, cultivators, brands, and investors, and to help them develop winning growth strategies. Stakeholders in the North America potato protein market, which include investors, industry experts, researchers, and journalists, and business researchers, can leverage the information and data presented in TMR’s study.
The study also includes statistics and facts related to the macro as well as microeconomic factors that are impacting the expansion of the market. It also offers actionable insights into the future trends in the North America potato protein market. Furthermore, small businesses and new entrants in the North America potato protein market can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in TMR’s North America Potato Protein Market Report
- Which region will continue to remain the most profitable regional market for North America potato protein market players?
- Which factors will induce a change in the demand for potato protein during the assessment period?
- How will the changing trends impact the North America potato protein market?
- How can market players capitalize on the low-hanging opportunities in the North America potato protein market in developed regions?
- Which companies are leading the North America potato protein market?
- What are the winning strategies of stakeholders in the North America potato protein market to catapult their position at the forefront?
North America Potato Protein Market – Research Methodology
In TMR’s study, a unique research methodology is used to conduct extensive research on the growth of the North America potato protein market and identify future growth parameters. This research methodology is a combination of primary and secondary research to help analysts ensure the accuracy and reliability of the conclusions.
Secondary sources referred to by analysts for compiling the North America potato protein market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary source.
Information acquired from primary sources and secondary sources is compiled in a comprehensive manner. This also acts as a validation from companies in the North America potato protein market, which makes TMR’s projections more accurate and reliable.
North America Potato Protein Market – Segmentation
TMR’s study on the North America potato protein market offers information divided into important segments — nature, type, end use, and country. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.