A recent market analysis by Industry Research has shown that the market for potato protein is expected to reach a volume of 168.47 million US dollars by 2024. This is equivalent to an annual growth rate of 7% in the forecast period 2019-2024.
The potato protein market is part of the growing global plant-based protein market. The reasons for its growth include intolerances to animal protein, the growing trend towards veganism, and innovations by manufacturers in the fields of extraction technology and use of potato protein.
Vegan diets influence protein market
In recent years, there has been a shift in consumer demand from animal protein towards plant-based protein. This tendency towards plant-based diets is linked to various factors such as sustainability issues, health awareness, ethical or religious beliefs, and environmental and animal rights issues.
Animal proteins provide the body with essential amino acids, but are associated with high cholesterol levels and other negative factors. As a result, more and more people are switching to vegan protein sources. An increasing number of people are becoming vegan to lose weight and improve their health. This trend is an important driver for the development and acceptance of high value-added products such as potato proteins. The increasing trend towards plant-based diets signals a large market potential for plant-based protein products.
Concentrate segment dominates potato protein market
The global potato protein market is dominated by the concentrate segment due to the wide use of concentrates in the animal feed industry. Potato protein isolates are still in the development phase, but are already being used in the food industry.
The market for sports nutrition, for example, is growing steadily worldwide, resulting in the increased use of potato protein in sports and energy drinks and dietary supplements. The plant-based protein is also frequently used in protein bars, protein shakes, breakfast cereals, meat products, and meat alternatives.
However, consumer awareness of potato protein is still quite low. This poses a challenge to market growth.