25-Sep-2020 | Zion Market Research
According to the report published by Zion Market Research, global demand for Potato Processing market was valued at approximately USD 25.7 Billion in 2019, and is expected to generate revenue of around USD 38 Billion by end of 2026, growing at a CAGR of around 5.5% between 2020 and 2026. The global market is driven at a substantial rate due to changes in dietary habits, easy availability, and accelerated urbanization.
The global potato processing market report demonstrates a competitive landscape of few strong market contenders that are blooming the global market include The Kraft Heinz Company, Idahoan Foods LLC, Agristo NV, McCain Foods Limited, J.R. Simplot Company, Aviko B.V., GmbH & Co. KG, Lamb Weston Holdings Inc., Intersnack Group, Farm Frites International B.V., J.R. Short Milling Company, and AGRANA Beteiligungs-AG.
Growing Trend For Convenience Foods Propelling The Global Potato Processing Market
Potato is the primary consumable under the convenient food products segment. Rising disposable incomes and the increasing importance of time are the two main factors that have been fuelling the convenient food products segment. In this hectic schedule and busy lifestyle, people generally prefer ready-to-eat, easily consumable, rapidly cooked, and foods with longer shelf life while commuting. Moreover, the global potato processing market is growing significantly with the increase in the demand for snack foods, particularly baked snacks with low carbohydrates and salt levels.
Supermarkets and hypermarkets offering groceries including processed potato products are well distributed across the urban regions, which is a key factor boosting the potato processing market. Moreover, governments of various developing nations have adopted different industrialization policies such as foreign direct investments to propel the market growth during the projected period.
The global potato processing report exhibits the market growth comprehensively by bifurcating it on the basis of type, application, distribution channel, and region. By type, the global market is segmented into chips & snacks pellets, frozen, dehydrated, and others. Among the aforementioned segments, the frozen segment seems to be dominating the global potato processing market owing to the rising demand for french fries served in restaurants and fast-food chains such as KFC, McDonald's, and Pizza Hut. By distribution channel, the global report portrays the segmentation of the potato processing market into foodservice and retail. Based on the application, the global market is categorized into snacks, ready-to-cook & prepared meals, and others comprising food additives in soups, desserts, gravies, and bakery products.
Asia Pacific Potato Processing Market Likely To Boom In The Forecast Period
On a regional basis, Europe accounts for the major share in the global potato processing market in terms of value and volume, as the majority of the renowned potato processing industries are established in the region. However, the growing trend of convenience foods in the Asia Pacific region, particularly India and China, are likely to boom the market in the forecast period.
Browse the full “Potato Processing Market, By Type (Frozen, Chips & snack pellets, Dehydrated, Others) By Distribution Channel (Foodservice and Retail) By Application (Snacks, Ready-to-cook & prepared meals, and others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/potato-processing-market
The global potato processing market is segmented as follows:
By Distribution Channel:
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