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:
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