The North America Potato Protein Market would witness market growth of 5.0% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 11,471.4 tonnes, showcasing a growth of 11.1% (2020-2023).
In the potato protein market, one significant application of protein is in animal feed. The protein serves as a valuable source of high-quality protein for livestock, poultry, and aquaculture. This can be incorporated into animal feed formulations to enhance the nutritional content and balance the amino acid profile, contributing to the overall health and growth of the animals. Therefore, the animal feed segment registered a volume of 4,730.4 tonnes in the US market in 2023.
The US market dominated the North America Potato Protein Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $158 million by 2031. The Canada market is experiencing a CAGR of 7.3% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 6.4% during (2024 - 2031).
The market refers to the industry involved in the production, distribution, and sale of protein, which is derived from potatoes. It is a valuable ingredient used in various food and beverage products due to its high nutritional value and functional properties. The adoption of protein has been steadily increasing across various industries, growing demand for plant-based alternatives, and the recognition of its nutritional and functional benefits.
With the rise of plant-based diets and increasing awareness of sustainability and animal welfare issues, consumers are actively seeking plant-based alternatives to traditional animal-derived products. As a plant-based protein source, this protein has gained popularity among consumers looking for allergen-free ingredients. In addition, the clean label trend, characterized by consumers’ preference for natural, has propelled the adoption of this protein.
With the rise of health-conscious consumers and growing awareness of environmental sustainability, there is a growing demand for plant-based food and beverage products in Canada. As per the data from the Government of Canada, in 2022, the food and beverage processing industry was the largest manufacturing industry in Canada in terms of production value, with sales of goods manufactured worth $156.5 billion. In 2022, processed food and beverage product exports reached a record value of $54.3 billion, marking a notable increase of 14.1% compared to the previous year. This accounted for 34.7% of the production value. With growing health consciousness among consumers in Mexico, there is a rising demand for healthier food options, including products fortified with functional ingredients like potato protein. Food retailers play a crucial role in meeting this demand by offering various health-focused products. According to the United States Department of Agriculture, there are 31 supermarket chains with a combined 3,435 stores. Moreover, Mexico boasts 2,484 department stores and 62,377 specialized stores nationwide. More than 56 percent of the retail sector is covered by informal establishments (mobile street vendors and open public markets), which traditionally distribute local products. In conclusion, the expansion of the food and beverage industry and the growing food retail sector are promoting market growth.
Free Valuable Insights: The Potato Protein Market is Predict to reach USD 742.8 Million by 2031, at a CAGR of 5.3%
Based on Type, the market is segmented into Isolate, and Concentrate. Based on Application, the market is segmented into Animal Feed, Supplements, Bakery & Confectionery, Meat, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type (Volume, Tonnes, USD Million, 2020-2031)
By Application (Volume, Tonnes, USD Million, 2020-2031)
By Country (Volume, Tonnes, USD Million, 2020-2031)
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