North America Potato Protein Market is Estimated to Progress at a CAGR of 5.7% during the Forecast Period, TMR Report

Jul 21, 2022

Wilmington, Delaware, United States - July 21, 2022 /MarketersMEDIA/ —

The value of North America potato protein market was projected to be US$ 41.0 Mn in 2022. The global market is likely to develop at a CAGR of 5.7% during the forecast period, from 2022 to 2032. The North America potato protein market is anticipated to attain value of US$ 71.3 Mn by 2032. The rising demand from the food and beverage industry, particularly from the baking and confectionery business, is likely to have a substantial impact on the North America potato protein market. Consequently, firms in the North America potato protein market are likely to raise their output and use cutting-edge manufacturing techniques that boost output whilst lowering costs.

Producing a liquid that is protein-rich for use in pet food and other animal nutrition product making companies are required to use the bio-refining technique. In order to support muscle building, potato protein isolates are also included in supplements and sports nutrition. Due to growing customer interest in organically derived ingredients, potato protein is becoming more and more popular in the confectionery and bakery business. The long-standing bakery industry is essential for the growth of the future market demand for North America potato protein.

In the food business, potato protein is likely to be utilized as a meat substitute. Since growing regional vegan populace as well as the rising usage for plant-based products and sweet potato protein powder, the revenue of the North American potato protein market is anticipated to rise during the forecast timeline.

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Key Findings of Market Report

Consumption of potato protein in the North America region is projected to be driven by the industry's robust expansion in the confectionery and bakery businesses. As consumer food choices have changed over the past decade, the consumption of confectionery and bakery items has increased significantly, which is expected to drive North America potato protein for baking applications. Due to high discretionary income of consumers in the North America region, there is a huge demand for potato protein.
The food and beverage business is being fueled by expanding urbanization, consumer preference for organic goods, and rising income levels. This segment is estimated to be the fastest growing market for North America potato protein.
In terms of value, the U.S. accounted for 89.5% of the market for potato protein in North America in 2022. The considerable demand for traditional potato protein in the US can be attributed to the large percentage of the nation in the global market and is expected to be the largest revenue generator in North America potato protein market. In comparison to Canada, the U.S. consumes more potato protein. However, given that Canada is predicted to develop at a rapid pace in North America market in the near future, which is why producers of food items containing potato protein is likely to have immense growth opportunities there.

North America Potato Protein Market: Growth Drivers

The functional properties of potato protein are identical to those of animal protein. As such, the global consumption of potato protein has increased massively. Due to its higher nutritional value compared to other protein sources, potato protein is anticipated to be included in the product portfolios of leading functional food and feed producers. Use in functional food is estimated to be one of the recent developments in North America potato protein market.
In 2022, the market for potato protein in North America was dominated by the organic category, which had a value share of 11.9%. Due to a growing tendency among bakers and confectioneries to include organic potato protein in their items, the desire for organic potato protein is increasing. Recent years have seen an increase in the acceptance of the vegan diet. It is anticipated to increase even more during the forecast timeframe, thereby pushing up demand for milk-free products worldwide.

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North America Potato Protein Market: Key Players

Some of the key market players are

Lyckeby Starch AB
AGRANA Beteiligungs-AG
Bioriginal Food and Science Corp.
KMC Kartoffelmelcentralen A.M.B.A.
Kemin Industries, Inc.
AKV Langholt AmbA

North America Potato Protein Market: Segmentation

Nature

Organic
Conventional

End Use

Food Processing
Animal Feed
Others

Type

Potato Protein Isolate
Potato Protein Concentrate

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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