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Potato protein market expected to gain popularity across the globe

The global potato protein market is projected to witness robust growth from 2023 to 2031. According to recent reports, the market size is expected to expand at a compound annual growth rate (CAGR) of approximately 6.9% during the forecast period, according to a new report issued by Transparency Market Research.

The company says in a press release that the increasing adoption of potato protein in various applications, such as food and beverages, animal feed, and cosmetics, is driving market growth. The rising vegan population and growing awareness about the environmental impact of animal farming are also contributing to the market’s expansion.

Regional analysis

North America holds a significant share of the potato protein market due to the high demand for plant-based proteins and the presence of major food and beverage manufacturers. The increasing trend of veganism and health-consciousness among consumers is driving the market in this region.

Europe is another prominent market for potato protein, with countries like Germany, the UK, and France leading the way. The region’s stringent regulations regarding animal welfare and environmental sustainability are pushing manufacturers towards plant-based protein sources.

The Asia-Pacific region is expected to witness the fastest growth during the forecast period. The rising population, increasing disposable income, and growing awareness about the benefits of plant-based diets are key factors driving the market in this region. China and India are anticipated to be the major contributors to the market growth.

Latin America is also experiencing growth in the potato protein market, driven by the increasing adoption of plant-based proteins in the food and beverage industry. Brazil and Mexico are the leading markets in this region.

The Middle East and Africa region is gradually adopting potato protein, with growing awareness about its nutritional benefits and applications in animal feed and food products. The market is expected to grow steadily in the coming years.

Market Drivers

Rising Demand for Plant-Based Proteins: The increasing awareness about health benefits and sustainability of plant-based diets is driving the demand for potato protein.
Functional Benefits: Potato protein offers excellent functional properties such as high solubility, emulsification, and foaming, making it suitable for various applications.
Growing Vegan Population: The shift towards veganism and vegetarianism is boosting the demand for alternative protein sources, including potato protein.
Environmental Concerns: The environmental impact of animal farming is leading to a preference for plant-based proteins.

Market Challenges

High Production Costs: The extraction and processing of potato protein can be costly, impacting the overall pricing.
Limited Awareness: Despite its benefits, there is still limited awareness about potato protein compared to other plant-based proteins like soy or pea.
Regulatory Hurdles: Stringent regulations and approval processes for new ingredients in food and feed products can pose challenges to market growth.

Source: Transparency Market Research. Read the full release here
Image: Credit Pixabay

Editor & Publisher: Lukie Pieterse


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