North America Potato Protein Market: Introduction
A recent report published by Transparency Market Research on the North American potato protein market includes industry analysis and opportunity assessment for 2021–2031. The global revenue generated from the North America Potato Protein Market is estimated to be worth US$ 38.5 Min in 2021 and should reach US$ 67.9 Mn by the end of the forecast period.
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Strong Demand for Plant-Based Ingredients Positively Impacting the North American Potato Protein Market
Consumers are clearly intrigued by the trend of new plant ingredients proposed by manufacturers. Herbal products are no longer a small consumer segment; The health benefits associated with herbal ingredients have proven to be the main motivating factor for consumers opting for such products. Changing consumer perceptions of food products benefit potato protein manufacturers. Nowadays, consumers pay more attention to the ingredients of the products they consume. Increased awareness of own-brand products can be seen with a shift in consumer buying habits. The perception of the clean label varies according to consumers; for most of them, the clean label means ingredients they can recognize. Soaring demand for Clean Label products is impacting potato protein sales in North America. Consumers are aware of the use of artificial ingredients in food products. Thus, health and wellness concerns are believed to be fueling the demand for potato protein in North America.
Robust growth in the bakery and confectionery industry in North America Accelerating sales of potato protein
The well-established baking industry in North America, attributed to the strong demand for premium products, is propelling the demand for potato protein. The demand for bakery and confectionery products has experienced robust growth over the past decade with changing consumer food choices. The high demand for potato protein is also seen among consumers owing to the high disposable income of North American consumers.
The change in lifestyle coupled with high expenditure on high quality products has helped to change the eating habits of consumers and has made many desserts and flavors available to consumers. This is reflected in the growth of the chocolate dessert market, which is expected to expand the potato protein market in North America. Thus, the rapidly growing bakery and confectionery industry would be the key driver for increasing the demand for potato protein.
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The growing popularity of low-fat, low-calorie, locally-sourced, eco-friendly, free and whole-grain baked goods is a major consumer trend influencing the demand for baked goods.
Easy availability of alternatives to hamper North America Potato protein market growth
The high penetration of soy protein and pea protein in the global protein segment is a major factor hindering the growth of the North American potato protein market. A limited number of manufacturers operate in the production of potato protein, which is why food manufacturers are looking for alternatives. To better meet consumer demand, the growing foodservice industry is prioritizing convenient food products, especially baked goods. Potato protein helps add unique flavor and texture to the finished product, while helping bakery manufacturers attract more consumers by offering better products.
North America Potato Protein Market Segmentation
North America Potato Protein Market, By Nature
North America Potato Protein Market, By Type
- Potato protein isolate
- Potato protein concentrate
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North America Potato Protein Market, By End Use
- Food industry
- Meat and meat substitutes
- Bakery & Confectionery
- Dairy alternatives
- Snacks and meals
- Animal feed industry
North America Potato Protein Market, By Country
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