Global Processed Potato Market to Grow with a CAGR of 5.4% through 2028
The global processed potato market is
driven by evolving consumer lifestyles, the expansion of fast food chains and
QSRs, and technological advancements in processing and packaging.
According to the TechSci Research report,
“Processed Potato Market – Global Industry
Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”,
the Global Processed Potato market stood at USD35.4 billion in 2022 and is
anticipated to grow with a CAGR of 5.4% in the forecast period, 2024-2028. The
global processed potato market stands as a dynamic and influential sector
within the broader food industry. Processed potato products have become an integral
part of diets worldwide, offering convenience, taste, and versatility. This
market encompasses a wide range of products, from familiar favorites like
potato chips and French fries to innovative offerings like sweet potato fries
and baked potato snacks. With shifting consumer preferences, technological
advancements, and evolving dietary trends, the global processed potato market
has experienced significant changes and challenges.The processed potato market's growth is
underpinned by several key factors. Firstly, the rising demand for convenience
foods, driven by busy lifestyles, has prompted consumers to seek ready-to-eat
or easy-to-prepare options. Processed potato products fit this criterion
perfectly, requiring minimal cooking effort while providing satisfying flavors.
Additionally, urbanization and the expansion of the fast-food industry have
further boosted the demand for these products.
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The market is also influenced by the
enduring popularity of potato-based products in various cultures. Potatoes are
a staple food in many regions, and their transition from traditional
preparations to processed forms has been well-received. For instance, potato
chips, initially an American snack, have become a global sensation, with local
flavors and variations emerging to cater to diverse tastes. However, the global processed potato
market faces notable challenges. One of the primary concerns is the fluctuation
in raw material costs. The price and availability of potatoes can be influenced
by factors such as weather conditions, crop diseases, and shifts in demand for
other crops. These fluctuations can affect the profitability of manufacturers
and potentially lead to price volatility for consumers.Another significant challenge is the
increasing consumer demand for healthier options. As awareness of health and
wellness grows, many consumers are seeking products that align with their
dietary preferences. This shift has led to a demand for processed potato
products that are lower in fat, sodium, and artificial additives. Manufacturers
are under pressure to reformulate their products to meet these criteria without
compromising on taste and texture.To address these challenges, innovation
has become a driving force in the processed potato market. Manufacturers are
investing in research and development to create healthier versions of their
products. Baked potato chips, air-fried fries, and snacks made from alternative
root vegetables like sweet potatoes are gaining popularity as consumers seek
better-for-you alternatives.
Flavor innovation is another area where
the market is evolving. Manufacturers are introducing unique and exotic flavors
to cater to adventurous palates. Additionally, the use of natural ingredients
and seasonings has become a prominent trend, aligning with the clean-label
movement and consumer preferences for transparency in food ingredients. Sustainability
and environmental concerns are increasingly influencing the processed potato
market. Potato cultivation requires significant water and energy resources. As
consumers become more environmentally conscious, they are expecting companies
to adopt sustainable practices throughout the supply chain. This includes
responsible sourcing of potatoes, efficient water management, reduced energy
consumption during processing, and environmentally friendly packaging.
The global processed potato market is
highly competitive, with both established players and new entrants vying for
market share. Well-known multinational brands compete with local and regional
players that offer unique flavors and traditional recipes. Market leaders often
focus on diversifying their product portfolios and expanding their geographic
reach through mergers, acquisitions, and strategic partnerships.
The global processed potato market is
segmented based on type, distribution channel, application, and region.
Based on the type, the market is
segmented into frozen, chips & snacks pellets, dehydrated & others. Among
these, the frozen segment has a significant share in the global processed
potato market during the forecast period. The convenience factor plays a
pivotal role in driving the success of the frozen segment. In today's
fast-paced lifestyles, consumers often seek quick and easy meal solutions.
Frozen processed potato products, such as French fries, hash browns, and potato
wedges, fit perfectly into this demand for convenience.
Based on region, the market is segmented
into North America, Europe, Asia Pacific, Middle East & Africa, and South
America. Among these, the Europe region has a significant share of the global processed
potato market during the forecast period. Europe's advanced agricultural
practices and favorable climate conditions ensure a consistent supply of
high-quality potatoes. This reliability empowers European processors to
consistently produce top-tier processed potato goods, catering to both domestic
and global demands.
Major companies operating in the global
processed potato market are:
- Agarfrost
- Mc Cain
- Idohoan foods
LLC
- Aviko BV
- Lamb Weston
Holdings Inc
- AGRANA
Beteiligungs-AG
- Ore Ida
- JR Simplot
Company
- Farm Frites
- Emsland Group
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“The global processed potato market is a
vibrant and evolving sector within the broader food industry. Its growth is
driven by changing consumer lifestyles, convenience demands, and the enduring
appeal of potato-based products. Despite challenges related to raw material
costs, health concerns, and sustainability, the market continues to innovate
and adapt to meet the needs of a diverse and dynamic consumer base. As consumer
preferences continue to evolve and new trends emerge, the processed potato
market will remain a focal point of innovation, competition, and culinary
exploration.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Processed
Potato Market By Type (Frozen, Chips & Snacks Pellets, Dehydrated &
Others), By Distribution Channel (Retail Vs Food Services), By Application
(Snacks, Ready-to-Cook & Prepared Meals, and Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F, has evaluated the future growth
potential of the processed potato market globally and provides statistics and
information on market structure, size, share, and future growth. The report
provides cutting-edge market intelligence and helps decision-makers to make sound
investment decisions. Besides, the report also identifies the emerging trends
along with essential drivers, challenges, and opportunities present in the
market of processed potato globally.
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