Global Potato Processing Market: Overview
Potato is a starchy root vegetable, which is mainly obtained from the plant Solanum tuberosum. Potato tuber is widely processed to get a variety of food products such as chips, fries, flakes, and other convenience food. Potato is also processed for its application as filler, binder, and adhesive by various end-use industries such as paper, textile, and pharmaceuticals. Furthermore, the processed potato is used in animal feed and biofuels as well.
Global Potato Processing Market: Growth Factors
Easy availability, convenient packaging, rapid urbanization, change in eating habits, and improvement in the standard of living are the major factors that have driven the global potato processing market in recent years. Other factors such as the growth in consumer preferences for convenience foods to save time and efforts, coupled with the rise in demand for applications such as snack foods and prepared ready meals are expected to drive the growth of this potato processing market trends during the forecast timeline.
Furthermore, the expansion of Quick Service Restaurants (QSRs) such as KFC, Pizza Hut, and McDonald’s in countries such as India and China, is expected to fuel the demand for frozen potato products during the forecast period. This, in turn, will steer the growth of the potato processing market in the coming decade. In addition, processed potato products used in ready-to-cook & prepared meals due to the increase in consumer preference for convenience food products, busy work schedules, and on-the-go consumption habits will further augment the market size.
Apart from ready-to-cook & prepared meals, processed potato products also find myriad applications in potato-based snacks with low carbs, low salt, air-dried, baked products with a number of flavors, which will also steer the potato processing market demand. However, the health issues associated with the consumption of processed potato products, high acrylamide content in snack foods, coupled with the high cost incurred for storage and transportation, are the major factors restraining the growth of the potato processing market globally. The major challenge faced by the processed potato product processors/manufacturers is to maintain a continuous or year-round supply of potato varieties at a reasonable price for uninterrupted operations.
Global Potato Processing Market: Segmentation
The global potato processing market can be classified based on the type, application, and distribution channel. On the basis of type, the market is sectored into frozen products, dehydrated products, and chips & snack pellets. Based on the application, the market is segmented into snacks and ready-to-cook & prepared meals. Distribution Channel-wise, the market is segmented into food service and retail.
Global Potato Processing Market: Regional Analysis
Based on regions, the global potato processing market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe is estimated to occupy the largest share in the global potato processing market, in terms of value and volume, owing to the booming food processing industry and presence of major companies in countries such as Germany, the UK, France, the Netherlands, and Belgium. The Asia Pacific is projected to be the fastest-growing market during the forecast period. Key players in Europe and the U.S. are focusing on tapping the potato processing market in the Asia Pacific, owing to which Asia Pacific is expected to witness lucrative growth in the forthcoming years.
North America potato processing market is predicted to follow Europe in terms of growth as potato containing processed foods is in high demand in this region as a result of the busy lifestyle of consumers, affordability, and change in food habits of consumers.
Limited agricultural production, owing to the nature of the terrain, climate, and scarcity of water has resulted in the growth of processed food, thereby increasing the demand for potato processing market in the Middle East. Also, rapid industrial development and urbanization are expected to further propel the market growth in the region. In addition, the increasing population in Africa is a major driver for potato processing market. The aforementioned factors will steer the potato processing market growth in the Middle East and Africa.
Global Potato Processing Market: Competitive Players
Some of the key players in the global potato processing market include Agrana Beteiligungs-AG, Agristo NV, Aviko B.V., Farm Frites International, Idahoan Foods, Intersnack Group GmbH & Co. Kg, J.R. Simplot Company, Lamb Weston Holdings, Leng-D'or, Limagrain Céréales Ingrédients, McCain Foods Limited, and The Kraft Heinz Company.
Global Potato Processing Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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