The global potato protein market is predicted to register a CAGR of 7.6% over the forecast period, according to FMI’s analysis. The industry’s value is anticipated to increase from US$ 144 million in 2023 to US$ 300 million by 2033 end.
The surging demand for clean label products as a result of increasing concerns around the robust climate change is propelling the demand for vegetable-based proteins. Due to this, the incorporation of potato protein into several vegetarian products is rising. Moreover, the expanding vegan population, particularly in countries like Canada and the United Kingdom, among others, is fueling the demand for food products consisting of plant-based protein. This new trend is projected to witness overwhelming response due to the rising demand for potato protein in the thriving vegan industry.
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The market is projected to augment owing to the initiation of several research activities. These activities are aimed at promoting the operational efficiency and cost-effectiveness of the potato protein extraction process. The potential utilization of potato protein to safeguard against cancerous cells is predicted to enhance the demand for potato protein. The deployment of novel technologies to curtail potato waste while producing potato protein is anticipated to provide impetus to the market over the upcoming years.
Key Takeaways from the Potato Protein Market:
- The United States is estimated to dominate the potato protein market over the forecast period. By 2033, the market is projected to attain US$ 106.3 million. The growth rate assumed by the United States market is likely to record 7.4% CAGR.
- China is expected to hold a significant position in Asia Pacific potato protein market. The regional market is estimated to attain US$ 21.5 million by 2033, registering a CAGR of 7% from 2023 to 2033.
- Japan, another key market in the region, is assessed to reach market valuation of US$ 17.6 million by 2033. The Japan potato protein industry is projected to expand at a CAGR of 6.1% over the forecast period.
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News Featuring Market Developments by Key Players of Potato Protein Solutions:
- In April 2022, Branston Ltd. unveiled that it is partnering with Root Extracts to create a potato protein product to be used in vegan and vegetarian foods. The development of the product is likely to take place in Branston’s extraction unit in Lincolnshire, which was under construction at the time of announcement.
- In February 2022, KMC declared that they have created a texturized potato protein to be utilized as an ingredient in meat alternatives. According to the company, the product is a first of its kind across the globe. The product is also a part of innovation program, which was initiated with the aim to create plant-based ingredient alternatives. The company is planning to manufacture the product on a large scale, with production run for the capacity of 300 tons for the year 2022.
- In April 2021, Branston Ltd. began the construction of new potato protein extraction plant at Branston’s site in Lincolnshire, the United Kingdom. The complete set up of the new plant is projected to amount US$ 7.94 million. The facility would help convert low-quality potatoes into clean-label functional protein and develop starch-based products. For this set up, the company has partnered with B-Hive Innovations, which has developed the process.
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Market Segments Covered in Potato Protein Market Analysis
By Product Type:
- 10-40% Protein
- 40-50% Protein
- 60-65% Protein
- 70-80% Protein
By Nature:
- Organic
- Conventional
By Form:
- Isolates
- Concentrate
- Textured Protein
- Hydrolyzed Protein
By End-use Application:
- Bakery & Confectionery
- Breads
- Cookies & Crackers
- Pastries
- Other Bakery & Confectionery
- Protein and Nutritional Bars
- Breakfast Cereals
- Functional Beverages
- Dairy Alternatives
- Dietary Supplements
- Sports Nutrition
- Infant Nutrition
- Meat Additives
By Region:
- North America
- Latin America
- Europe
- Asia Pacific excluding Japan
- Japan
- Oceania
- The Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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