The potato protein market is witnessing a remarkable surge, with its value expected to double from US$ 144 million in 2023 to US$ 300 million by 2033. This growth is attributed to the increasing demand for plant-based protein alternatives, driven by heightened health awareness, environmental considerations, and dietary preferences, according to a report on Market Research Blog, published by Future Market Insights Inc. in Delaware.
According to the Market Research Blog, potato protein, derived from potatoes through specialized extraction processes, offers a high-quality plant-based protein alternative. It’s becoming a popular choice for those seeking allergen-free and plant-based options, positioning itself as a strong competitor to other plant proteins like soy and wheat.
Several factors are propelling this market forward:
- Health and Environment: The rising demand for clean-label products and concerns about climate change have amplified the appeal of vegetable-based proteins.
- Vegan Trend: The growing vegan population, especially in countries like Canada and the UK, is boosting the demand for potato protein-infused food products.
- Innovative Research: Research initiatives are underway to enhance the efficiency and cost-effectiveness of potato protein extraction. There’s also potential for potato protein to act against cancerous cells, further increasing its demand.
- Waste Reduction: New technologies are being developed to reduce potato waste during protein production, providing an additional boost to the market.
Regionally, the United States is set to dominate the potato protein market, with projections reaching US$ 106.3 million by 2033. In the Asia Pacific, China and Japan are emerging as significant players, with market valuations expected to hit US$ 21.5 million and US$ 17.6 million, respectively, by 2033.
Notable market developments include partnerships and innovations by key players. For instance, in April 2022, Branston Ltd. announced a collaboration with Root Extracts to produce a potato protein product for vegan and vegetarian foods. Similarly, in February 2022, KMC introduced a texturized potato protein for meat alternatives, marking a global first.
With such rapid advancements and the increasing demand for sustainable protein sources, the potato protein market is undoubtedly on a trajectory of explosive growth.
Source: Future Market Insights Inc., Market Research Blog
Image: Credit Elisabeth Anderson and Jinpeng Li, Michigan State University
Related: Potato protein: A rising star in the plant-based protein revolution