Africa potato protein market is anticipated to witness a CAGR of 2.59% during the forecast period (2020 - 2025).
- The changing consumer lifestyles, evolving eating habits, and rigorous R&D on increasing demand for natural ingredients due to increasing consumer awareness are the prime reasons for the inflated demand for potato protein in the region.
- The health benefits associated with the potato protein play a vital role in the growth of the market and its increased application.
- The lifestyle modification has led to the consumers swaying away from conventional protein sources like whey, wheat protein, and soy protein that often lead to allergies to safer protein options in order to compensate for the daily required protein intake. Thus, the rising demand for less allergy-causing ingredients in processed foods is expected to drive the market in the region well in the near future.
Key Market Trends
The Popularization of Vegan Foods is Likely to Foster the Market Growth
The protein market is witnessing a shift in consumer demand from animal protein to plant protein. This inclination toward a plant-based diet is associated with different factors, such as sustainability issues, health awareness, ethical or religious views, as well as environmental and animal rights. Potato protein is a suitable replacement for animal-derived ingredients, such as egg albumen, gelatin, and whey proteins due to similar properties and can, therefore, be a good option to cater to vegetarians and vegans. Isolates of potato protein are extracted by a specialized technology and contain anywhere between 90-95% amino acid concentrations, along with high solubility, and bioavailability. This amino acid content exceeds the protein content of soybean protein isolates and the overall recommended daily nutrition allowances, which have successful applications for sports nutrition.
South Africa is the Largest Market in the Region
South Africa is the continent's top consumer of beef, veal, pork, poultry, mutton, and lamb, according to data from the Organisation for Economic Co-operation and Development. However, on the contrary, the vegan headcount is witnessing staggering figures in Cape Town. The sprouting of vegetarian and vegan restaurants is rapid in Johannesburg as well. South Africa is among the top 30 countries in the world where veganism was most popular over the last 12 months, according to a recent Google Trends data.
The data also shows that the Western and Eastern Cape provinces have the highest concentration of vegans, and Stellenbosh, Randburg, and Cape Town are the top three most popular cities for veganism. Therefore, the continuously growing popularity of plant-protein is likely to surge the demand for vegan proteins, especially those that are allergen-free. The changing consumer behavior is, hence, expected to inflate the demand for potato protein in the country, even more.
The African potato protein market is competitive as the companies master in different fields of expertise to prove their superiority. The manufacturers struggle to launch the most ideal solutions of potato-based concentrates and isolates to cater to the vivid demands of the regional market.
Conversely, the demand for processed foods and supplements based on unique solutions is providing the processors with the opportunity for product innovation. Also, the African countries developing at a rapid pace are likely to pose great scope of industrialization which in turn is expected to regulate the market in the near future. Thus, analyzing the opportunity, the global players are expanding their distribution network in the African countries to cater to the rising demand for potato protein and other protein alternatives to conventional sources, promoting the market growth, correspondingly.
- The market estimate (ME) sheet in Excel format
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1.2 Scope of the Study
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1.1 Potato Protein Isolate
5.1.2 Potato Protein Concentrate
5.2 By Application
5.2.3 Animal Nutrition
5.3 By Geography
5.3.1 South Africa
5.3.3 Rest of Africa
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Cooperatie Avebe U.A.
6.3.2 Roquette Freres
6.3.3 Meelunie B.V.
6.3.4 Kemin Industries, Inc.
6.3.6 KMC ingredients