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North America Potato Protein Market To Reach Valuation Of US$ 67.9 Mn By 2031

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North America Potato Protein Market To Reach Valuation Of US$ 67.9 Mn By 2031

October 28
10:15 2021
North America Potato Protein Market To Reach Valuation Of US$ 67.9 Mn By 2031
North America Potato Protein Market (Nature: Organic and Conventional; Type: Potato Protein Isolate and Potato Protein Concentrate; and End Use: Food Processing, Animal Feed, and Others) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

A recent report published by Transparency Market Research on North America potato protein market includes industry analysis and opportunity assessment for 2021-2031. The overall revenue generated by the North America potato protein market is estimated to value US$ 38.5 Mn in 2021 and is projected to reach US$ 67.9 Mn by the end of forecast period.

High Demand for Plant-based Ingredients Positively Impacting North America Potato Protein Market

Consumers are clearly intrigued by the trend of new plant-based ingredients offered by manufacturers. Plant-based products are no longer a small consumer segment; health benefits associated with plant-based ingredients are proved to be the biggest motivator for consumers opting for such products. The changing consumer perception about food products is benefitting the potato protein manufacturers. Consumers nowadays pay more attention to ingredients of the products they consume. Increased awareness about clean label products can be seen with change in purchasing pattern of consumers. The perception of clean label vary for different consumers; for most of them, clean label means ingredients that they can recognize. The skyrocketing demand for clean label products is impacting the sales of potato protein in North America. Consumers are aware of the ingredient use of artificial ingredients in food products, thus, concerns about health and wellness are estimated to fuel the demand for potato protein in North America.

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Robust Growth in Bakery & Confectionery Industry in North America Accelerating Sales of Potato Protein

The well-established bakery industry in North America attributed to high demand for premium products is propelling the demand of potato protein. The demand for bakery & confectionery products has witnessed the robust growth in the past decade with change in consumers’ food choices. The high demand for potato protein is also observed in consumers due to high disposables income of North American consumers.

The change in lifestyle coupled high expenditure on high quality products income has contributed to a shift in consumer eating habits, and has made numerous desserts and flavors available to consumers. This results in the growing market for the chocolate dessert, which is projected to expand the potato protein market in North America. Thus, the rapidly growing bakery & confectionery industry is said to be the key factor rising the demand for potato protein.

The increasing popularity of low fat, low calorie, locally sourced, environment-friendly, free and whole grain-based baked goods is a major consumer trend influencing the demand for bakery products.

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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 America potato protein market. A limited number of manufacturers is operating in the production of potato protein, which is the reason food manufacturers seek for alternatives. In order to better satisfy consumer demand, the growing food services industry is preferring convenient food items, especially bakery products. Potato protein helps to add unique flavor and texture to the finished product, while helping bakery manufacturers to draw more consumers by offering better products. 

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights to thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

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