Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 395.4 Million | USD 869.10 Million | 7.20% | 2021 |
FrequentlyAsked Questions
Increasing need for plant based proteins is expected to boost the market growth. The need for food is constantly increasing since the world's population is predicted to exceed ten billion people by 2050. The exponential rise of the human population is predicted to put a strain on animal protein supplies. This may be changed, however, by modifying the food composition and enabling a higher portion of the diet to be plant-based. As a result, plant-based protein sources like potato protein have a lot of potentials.
According to the Zion Market Research report, the global potato protein market was worth about 395.4 (USD million) in 2021 and is predicted to grow to around USD 869.10 million by 2030, with a compound annual growth rate (CAGR) of approximately 7.20% over the forecast period.
North America is the largest regional market for potato protein. The region is expected to contribute significant revenue to the global potato market over the forecast period. This is attributed to the increasing demand for plant based protein in the United States. Potato protein sales in the United States increased by over 5% year over a year till 2020. By the end of 2028, the market is expected to reach a volume of around 29,000 tons. Increased demand for processed foods with natural ingredients, as well as a preference for plant-based foods, are two significant drivers driving the potato protein industry's rise in the country.
Major players operating in the global potato protein market include Kemin Industries, Inc., Avebe, Royal Cosun, KMC Ingredients, Tereos, PEPEES Group, Roquette Frères, Agrana, Meelunie B.V., Bioriginal Food & Science Corp, AKV Langholt, Sudstarke, Omega Protein Corporation, and PPZ Niechlow among others.
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