Potato Flavor Market Size, Share, Trends, Growth and Forecast 2030

Potato Flavor Market

Potato Flavor Market By Application (Soups, Snacks, and Dressing), By Type (Artificial Flavors, Natural Flavors, and Organic Flavors), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030

Category: Food & Beverage Report Format : PDF Pages: 220 Report Code: ZMR-7278 Published Date: Jun-2023 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 563.14 Million USD 1648.97 Million 14.37% 2022

Potato Flavor Industry Prospective:

The texture is medium starch, slightly creamy and slightly dense with a delicate skin. White potatoes have a subtly sweet mild taste with low sugar content.The global potato flavor market size was worth around USD 563.14 million in 2022 and is predicted to grow to around USD 1648.97 million by 2030 with a compound annual growth rate (CAGR) of roughly 14.37% between 2023 and 2030.

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The report analyzes the global potato flavor market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the potato flavor market.

Potato Flavor Market: Overview

Potato flavors refer to the aroma and taste associated with potatoes which is a versatile vegetable consumed extensively across the globe. The distinct flavor of potatoes is characterized by an earthy, mild, and starchy taste. However, the final flavor can vary depending on the variety of potatoes, preparation methods, and growing conditions. Raw potatoes, in general, exhibit neutral flavors, but when cooked either as standalone vegetables or with other edible items, they tend to develop a savory and rich flavor. The potato flavor industry refers to the production and distribution of ingredients that enhance or replicate the flavor of potatoes. These items can be used for a wide range of applications as manufacturers can add potato flavor without using real potatoes. For instance, items such as snacks, soups, potato chips, seasonings, and sauces may utilize potato flavorings.

Key Insights:

  • As per the analysis shared by our research analyst, the global potato flavor market is estimated to grow annually at a CAGR of around 14.37% over the forecast period (2023-2030)
  • In terms of revenue, the global potato flavor market size was valued at around USD 563.14 million in 2022 and is projected to reach USD 1648.97 million, by 2030.
  • The potato flavor market is projected to grow at a significant rate due to the growing demand for convenience food
  • Based on application segmentation, snacks was predicted to show maximum market share in the year 2022
  • Based on type segmentation, natural flavors was the leading type in 2022
  • On the basis of region, North America was the leading revenue generator in 2022

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Potato Flavor Market: Growth Drivers

Growing demand for convenience food to drive market growth

The global potato flavor market is projected to grow owing to the increasing demand for convenience food products including items such as ready-to-eat- meals, processed potato products, and potato-based snacks. As lifestyle habits across the globe are changing, the demand for quick and easy edible items has grown tremendously. Furthermore, potato as a vegetable, enjoys extreme popularity across the globe. It is a staple food ingredient in many diet cultures and hence products derived from potatoes such as snacking goods are equally important in the current food & beverages industry. A recent survey has concluded that more than 50% of Indian households consume potatoes every day. However, with the rampant urbanization and busy lifestyles, people are getting more inclined toward easy-to-consumer food products and this has resulted in higher demand for potato flavor along with other convenience food products.

Potato Flavor Market: Restraints

Changing potato prices to restrict market expansion

Potatoes, in general, showcase high price sensitivity to external factors. Although it is one of the most abundantly produced vegetables, the price of potatoes varies rapidly depending on social and economic factors. In addition to this, the cost is associated with fluctuations in weather conditions, crop yield, and global supply and demand. This directly impacts the production cost of potato flavorings and the high volatility rate could impede global potato flavor industry growth during the forecast period.

Potato Flavor Market: Opportunities

Rising demand for clean label products to open higher revenue streams

The global potato flavor market is expected to benefit from the growing demand for clean-label products where consumers are increasingly seeking natural or clean-labeled food items. As people are learning about the side effects of consuming processed food on their overall health, they are proactively choosing products with clean ingredients. Market players can leverage this segment by developing potato flavor from natural ingredients such as real potatoes or potato extracts.

Potato Flavor Market: Challenges

Increasing competition to challenge market growth

The global sales volume may be restricted due to the potato flavor industry being highly competitive with the existence of several players including domestic and international. Each brand offers multiple product variants in terms of texture, size, final flavor, and other aspects. To ensure survival, companies have to constantly invest in strategic measures to be ranked as preferred choices amongst the consumer group which can be difficult for several players with limited resources.

Potato Flavor Market: Segmentation

The global potato flavor market is segmented based on application, type, and region.

Based on application, the global market segments are soups, snacks, and dressing. The industry witnessed the highest growth in the snacks segment in 2022 due to high sales of products such as potato chips, crisps, and other savory snacks. These items are consumed across the globe and at a high scale driven by multiple factors including changing consumption patterns, easy product availability, affordability, and rising snacking habits. Since potato is a widely consumed vegetable and the majority of the world population has developed a friendly taste toward potato flavor in its various forms, almost all manufacturers of snacking goods provide at least one product with potato flavor. As of May 2022, out of PepsiCo’s total revenue, almost 55% was delivered by Frito Lay, its subsidiary operating in the snacking segment.

Based on type, the global market divisions are artificial flavors, natural flavors, and organic flavors. The potato flavor industry was dominated by the natural flavors segment in 2022. They are derived from real potatoes or potato extracts and they are more likely to capture the authentic taste or aroma of potatoes, providing consumers with a more authentic flavor profile. On the other hand, artificial flavors are chemically synthesized. They mimic specific tastes including potato flavor but although they are available in the commercial market, their sales value is relatively lower and there is a growing demand for clean-label products. Organic potato flavorings cater to consumers seeking organic and sustainable food options. The Institute of Food Technologists reported that nearly 20% of US citizens regularly buy products that are labeled as clean.

Recent Developments:

  • In June 2022, PepsiCo announced an investment of INR 186 crore in India with the aim to expand its production capacity in the country. The investment will be directed toward the company’s largest greenfield foods manufacturing plant that produces LAY’s and is located in Mathura city of Uttar Pradesh. The total investment by the company in this state has now reached INR 1022 crore
  • In August 2022, Lay’s amped up its effort to dominate the snacking segment by reintroducing a range of the company’s most iconic products including Funyuns, Doritos, and Cheetos mashups. The products will be launched alongside the new Kettle Cooked Fritos Chili Cheese
  • In December 2022, Godrej Yummiez announced the launch of a new campaign to advertise its latest product called Potato Starz

Potato Flavor Market: Report Scope

Report Attributes Report Details
Report Name Potato Flavor Market Research Report
Market Size in 2022 USD 563.14 Million
Market Forecast in 2030 USD 1648.97 Million
Growth Rate CAGR of 14.37%
Number of Pages 220
Key Companies Covered Givaudan, International Flavors & Fragrances Inc. (IFF), Firmenich, Symrise AG, Sensient Technologies Corporation, Mane SA, Takasago International Corporation, Kerry Group, Frutarom Industries Ltd., T. Hasegawa Co., Ltd., Robertet Group, Huabao International Holdings Limited, Aromatech Group, Flavorchem Corporation, McCormick & Company, Inc., Treatt PLC, Tastemaker Supply Pty Ltd, WILD Flavors and Specialty Ingredients (ADM), ITC Limited, Prova, The Edlong Corporation, Synergy Flavors, Blue Pacific Flavors, Gold Coast Ingredients, and Bell Flavors & Fragrances Inc.
Segments Covered By Application, By Type, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Potato Flavor Market: Regional Analysis

North America to register the highest growth

The global potato flavor market is projected to witness the highest growth in North America due to the strong presence of an evolving marketplace for potato-based snacks, such as potato chips and crisps. The regional growth is driven by the high consumption of potato-based products in the countries of the US, Canada, and Mexico. Furthermore, it is also highly influenced by culinary traditions where the popularity of dishes such as potatoes and potato salads has dominated for many decades. However, there is a growing segment of people opting for naturally-derived potato flavors and companies need to invest in more clean-labeled snacking options. Additionally, the presence of some of the largest snack-producing companies along with multinational food companies has allowed the US to hold control over the majority of the regional market share. The product is also popular in the Middle East due to the high use of potato and derived products in traditional diet including products such as batata harra and potato kibbeh.

Potato Flavor Market: Competitive Analysis

The global potato flavor market is led by players like:

  • Givaudan
  • International Flavors & Fragrances Inc. (IFF)
  • Firmenich
  • Symrise AG
  • Sensient Technologies Corporation
  • Mane SA
  • Takasago International Corporation
  • Kerry Group
  • Frutarom Industries Ltd.
  • T. Hasegawa Co. Ltd.
  • Robertet Group
  • Huabao International Holdings Limited
  • Aromatech Group
  • Flavorchem Corporation
  • McCormick & Company Inc.
  • Treatt PLC
  • Tastemaker Supply Pty Ltd
  • WILD Flavors and Specialty Ingredients (ADM)
  • ITC Limited
  • Prova
  • The Edlong Corporation
  • Synergy Flavors
  • Blue Pacific Flavors
  • Gold Coast Ingredients
  • Bell Flavors & Fragrances Inc.

The global potato flavor market is segmented as follows:

By Application

  • Soups
  • Snacks
  • Dressing

By Type

  • Artificial Flavors
  • Natural Flavors
  • Organic Flavors

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Potato flavors refer to the aroma and taste associated with potatoes which is a versatile vegetable consumed extensively across the globe.

The global potato flavor market is projected to grow owing to the increasing demand for convenience food products including items such as ready-to-eat- meals, processed potato products, and potato-based snacks.

According to study, the global potato flavor market size was worth around USD 563.14 million in 2022 and is projected to reach a value of USD 1648.97 million by 2030.

The CAGR value of the potato flavor market is expected to be around 14.37% during 2023-2030.

The global potato flavor market is projected to witness the highest growth in North America due to the strong presence of an evolving marketplace for potato-based snacks, such as potato chips and crisps.

The global potato flavor market is led by players like Givaudan, International Flavors & Fragrances Inc. (IFF), Firmenich, Symrise AG, Sensient Technologies Corporation, Mane SA, Takasago International Corporation, Kerry Group, Frutarom Industries Ltd., T. Hasegawa Co., Ltd., Robertet Group, Huabao International Holdings Limited, Aromatech Group, Flavorchem Corporation, McCormick & Company, Inc., Treatt PLC, Tastemaker Supply Pty Ltd, WILD Flavors and Specialty Ingredients (ADM), ITC Limited, Prova, The Edlong Corporation, Synergy Flavors, Blue Pacific Flavors, Gold Coast Ingredients, and Bell Flavors & Fragrances Inc.

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