Potato Protein Market expected to reach US$ 249.1 Mn by 2032 – FMI study

 The sales of potato protein market is estimated to be valued at US$ 121.1 Mn in 2022. As per Future Market Insights (FMI), the overall market value is expected to reach US$ 249.1 Mn by 2032, rising at a CAGR of 7.5% for 2022-2032. Regionally, North America is expected dominate the market. However during the forecast period, Europe will exhibit higher rate of growth. In terms of type, the market can be classified into isolates and concentrates. Of these, concentrates will lead the global market.

Furthermore, the rising application in food and beverages sector will drive the market during the forecast period. Potato protein is increasingly used in infant formula, dairy products, food supplements and others. This factor, aided by the rising food demand in China, India, and Brazil will bolster growth opportunities for the market.

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“In the coming years, the potato protein market will gain impetus from the rising demand in developed regions. The rising demand for healthier meat alternatives and inclination towards plant-based protein will increase potato protein sales in regions such as North America, Europe and Latin America,” said a lead analyst at FMI

In the coming years, the potato proteins market is forecast to witness growth opportunities in Asia Pacific as well. The rising awareness about protein supplements, followed by their increasing demand will support the market growth in Asia Pacific.

It includes in-depth insights into the potato protein market. Some of these are:

• The estimated value of the market was at US$ 84.6 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
• Regionally, North America emerged as a key market for potato protein.
• Europe and Latin America will report steady rise as key markets for potato protein.
• Among potato protein types, concentrates will witness high demand through the forecast period.
• Key players are likely to focus on introducing new products to stay relevant in the market.

Increasing Application in Food and Beverages Sector to Boost Growth

Potato protein is widely used in infant formulas, food supplements and dairy products. Therefore, the increasing consumption of dietary protein will bode well for the market. Furthermore, the market is expected to gain from the expansion of the food industry. Because countries such as China, India, and Brazil exhibit high food demand, they are identified as some of the most lucrative markets for potato protein. In addition to this, the rising health consciousness among consumers will enable growth in the market

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Competitive Landscape

Some of the leading players operating in the potato protein market are (Avebe, Tereos, Agrana, Roquette, Omega Protein, Pepees Group, Emsland Group, Meelunie, KMC Ingredients, Südstärke, AKV Langholt, PPZ Niechlow and others.

As a result of increasing competition, potato protein manufacturers are focusing on expanding their product portfolio and improving sourcing processes. Their expansion strategies are further aided by agreements between them and local players across emerging market. These companies are particularly focusing on catering to changing consumer preference across various applications.

In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.