The global potato protein market is estimated to grow at a CAGR of nearly 4.5% during the forecast period. Potato protein is a rich and bioavailable source of plant-based protein. There is an emerging demand for potato protein owing to the rising vegan population and emerging application in animal nutrition. These factors have led to the introduction of new potato protein products. For instance, in November 2019, KMC A/S launched potato protein concentrate, Protafy 130 to fortify both vegan and non-vegan food products. This introduction aims to meet the rising demand for plant-based proteins. The developers of plant-based formulations and food manufacturers struggle with the risk of nutrient deficiencies owing to the natural compositions of comprehensive plant proteins and allergen labeling.
Nevertheless, potato protein contains a complete and balanced amino acid profile, which has a crucial role in ensuring the nutritional amount of plant-based formulations. Protafy 130 enables the manufacturers of food products to enhance the nutritional quality of snacks and foods sustainably. Further, the expansion of production capability and acquisitions has witnessed in the market. For instance, in January 2020, AGRANA declared to leverage its distribution activities in its starch business and acquired Marroquin Organic International Inc., the Santa Cruz (California), US-based distribution company. Marroquin has more than 25 years of experience in supplying non-GMO and organic ingredients and is an established distribution partner of AGRANA Stärke-GmbH.
Both companies have an equal potential reputation in the US market. This acquisition is a suitable fit for AGRANA to implement its strategy in the starch segment. AGRANA has significant experience in the development of specialty starches and is significantly focusing on clean label and baby food starches with no chemical modification. Under the starch segment, the company processes wheat, corn, and potatoes for the production of multiple different starch products for applications in pharmaceutical, cosmetics, and food sectors. AGRANA has a manufacturing site in both Romania and Hungary and three starch mills in Austria respectively.
Additionally, in November 2018, AGRANA declared to introduce the potato fibres processing at its potato starch mill in Gmünd, Austria, to develop a product rich in dietary fibre and low in calories. Dietary fibre has applications in several products, including meat products, baked goods, and liquid refreshments. With this processing, the company will use 100% of the valuable components found in potatoes. These initiatives will further accelerate the production of potato protein that will contribute to meet the increasing demand for plant-based proteins. As a result, it will offer an opportunity for the global potato protein market.
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Global Potato Protein Market- Segmentation
By Type
- Concentrate
- Isolate
By Application
- Food and Beverages
- Meat
- Bakery and Confectionery
- Beverages
- Processed Foods
- Others
- Animal Nutrition
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