USD 29.28 billion
Potato Processing Market Size, Share, Growth Analysis, By Type(Frozen, Chips & Snack Pellets, Dehydrated), By Application(Snacks, Ready-to-cook & Prepared Meals), By Distribution Channel(Foodservice, Retail), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30C2068 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
88
|Figures:
76
Potato Processing Market Insights
Potato Processing Market size was valued at USD 29.28 billion in 2019 and is poised to grow from USD 38.74 billion in 2023 to USD 46.99 billion by 2031, growing at a CAGR of 5.42% in the forecast period (2024-2031).
The global vegetable industry has undergone several changes in the last few years as new trends have emerged. Demand for processed products have been high as e-commerce industry has facilitated the supply-chain in the vegetable industry. Potato products are all time high in the consumer market since adding potato to diet is suitable for almost all demographics. The population in tropical countries have moderate to high demand for processed potato products. Potato processing involves several methods to produce desired end products. The processing plants are specially designed and equipped with tools and devices such as enzyme reactors, potato coolers, heating equipment, potato washers, and others. The Asian market is experiencing rapid growth because of rising potato production in major emerging economies. The increase in the number of potato processing plants across developed economies, combined with increased interest from global market players in developing economies (with higher potato producing capacities) is expected to have a significant impact on the global market during the forecast years. For example, potatoes are used to produce various ingredients like potato flakes, potato granules, potato flour that are used in culinary and food processing.
Increased demand for processed potato products, such as frozen potatoes, from restaurants, hotel chains, and retail sectors is expected to drive market growth in the forecast years. Furthermore, major potato-producing countries' adoption of technically advanced potato growing techniques is expected to drive the growth of the global market. In today's sports and wellness environment, where people are always conscious of their health, the use of dietary supplements, such as potato processing, to increase efficiency and strengthen activity modifications is gaining enormous popularity.
US Potato Processing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Ready-to-cook
Fastest Growth
Ready-to-cook
Growth Rate
5.42% CAGR
Global Potato Processing Market ($ Bn)
Country Share for Europe Region (%)
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Potato Processing Market Segmental Analysis
Potato Processing Market is segmented based on type, application, distribution channel and region. Based on type potato processing market is categorized into frozen, chips & snack pellets, dehydrated. Based on application potato processing market is categorized into snacks, ready-to-cook & prepared meals, based on distribution channel potato processing market is categorized into foodservice and retail, &. based on region potato Processing Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Potato Processing Market Analysis by Type
The frozen segment dominated the global market, a trend that is expected to continue throughout the forecast period. Frozen potato products are in high demand due to the increased demand for French fries served in restaurants and fast-food chains around the world. During the forecast period, the expansion of Fast Food & Quick Service Restaurants (QSRs) such as KFC, Pizza Hut, and McDonald's in countries such as India and China are expected to fuel demand for frozen potato products. The chips and snack pellets segment were the second largest, owing to the growing popularity of potato chips among young people and the ease with which they can be obtained.
Potato Processing Market Analysis by Application
The consumption of processed potato products in ready-to-cook and prepared meals is expected to account for the largest market share in 2021. Processed potato products used in ready-to-cook & prepared meals are a thriving market due to rising consumer preference for convenience foods, hectic work schedules, and on-the-go consumption habits. Aside from ready-to-cook & prepared meals, processed potato products find applications in the snacks segment, such as potato-based snacks with low carbs, low salt, air-dried, baked products in a variety of flavors, which drives the demand of the potato processing products.
Global Potato Processing Market By Application
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Potato Processing Market Regional Insights
Europe is expected to hold the largest Global Potato Processing Market share in terms of value and volume in 2021, owing to a thriving food processing industry and the presence of major companies in countries such as Germany, the United Kingdom, France, the Netherlands, and Belgium. During the forecast period, the Asia-Pacific region is expected to grow the fastest. Key players in Europe and the United States are focusing on the Asian potato processing market, which is expected to grow rapidly in the coming years.
Global Potato Processing Market By Region
- Largest
- Fastest
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Potato Processing Market Dynamics
Potato Processing Market Drivers
Increased demand for processed foods and rapid urbanization
- People's rising living standards, rapid urbanization, changing food preferences, and the attraction of fast food are all driving the demand for the worldwide market. The demand for processed food is increasing because of the benefits and ease of no cooking, easy preservation, and storage options. As a result, it is also highly preferred by consumers. Furthermore, fast service restaurants around the world are enticing users to choose processed potato products based on their preferences.
- The global market is also been driven by the rising demand for processed foods, improved farming methodologies, easy availability at low costs, and growing demand from the Asia-Pacific region.
- Furthermore, rapid urbanization, rising living standards, easy product availability, and attractive packaging is anticipated to result in a significant product demand. The high consumer trend toward convenience dietary habits is expected to boost market earnings in the coming years.
Potato Processing Market Restraints
High costs of storage and transportation, and high consumption linked with ailments is likely to impede the market growth
- The high cost of storage and transportation associated with processed potatoes, combined with health concerns associated with processed food consumption, are expected to restrain the growth of the potato processing market during the forecast years.
- Potato chip consumption has been linked to diseases such as hypertension, cardiovascular disease, and cancer. Furthermore, high levels of fried potato product consumption increase the risk of developing conditions such as stroke and obesity. For example, a study of 4,440 people aged 45 to 79 found that those who ate fried potatoes like French fries, hash browns, and potato chips two or more times a week had twice the risk of dying young as those who did not eat fried potatoes. The higher risk is attributed to the presence of trans-fat-rich cooking oil in fried potato products. Trans fat has been shown to raise LDL cholesterol levels in the blood.
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Potato Processing Market Competitive Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by the global players. Major firms are shifting their focus to introducing new products into the market. The increasing adoption of vegetarian and vegan food items in developed regions as a result of rising health consciousness and concern for animal welfare is expected to drive demand for processed potato products during the forecast period. Furthermore, ready-to-cook potato products like fries, soups, and snacks are being marketed with labels like vegan or 'organic' to increase sales. This has triggered the market and is expected to give a positive impact over the forecast period.
Potato Processing Market Top Players Company Profiles
- McCain Foods Limited
- Lamb Weston Holdings, Inc.
- J.R. Simplot Company
- The Kraft Heinz Company
- Aviko BV
- Farm Frites International B.V.
- Idahoan Foods, LLC
- Agristo NV
- Cavendish Farms Corporation
- Bergia Frites S.A.S.
- Intersnack Group GmbH & Co. KG
- Pepsico, Inc.
- The Hain Celestial Group, Inc.
- Old Dutch Foods, Inc.
- The Kraft Heinz Company
- AGRANA Beteiligungs-AG
- AVEBE U.A.
- Calbee, Inc.
- Kellogg Company
- Lamb Weston Meijer V.O.F.
Potato Processing Market Recent Developments
- Kraft Heinz joint ventured with NotCo for plant-based products in 2022
- Lamb Weston Holdings, Inc. announced a capacity increase in French fry processing at its American Falls, Idaho facility. As a result, they hope to produce more than USD 1,050 million of frozen french fries and other potato products per year. The new line is expected to be completed by the middle of 2023, creating approximately 130 new jobs.
- In February 2021, Aviko completed its acquisition of the majority stake in the Bavarian family business Amberger. As a result, Aviko invests in further strengthening its position in the German and Austrian foodservice markets. The acquisition includes the Oberdolling production site, the regional brand Feldmühle, and a premium range of German potato products.
Potato Processing Key Market Trends
- The potato processing industry is growing in the frozen potato trade and the rising demand for snack foods like potato chips and fries. However, the rising popularity of ready-to-eat foods, and an increase in supply chain activities, it will drive product penetration further in the global market. The fast-food industry's rapid growth is likely to impact the business landscape.
- Increase in disposable income, rising consumer demand, urbanization, quick-service restaurants, active participation of women in this industry, and supply chain activities have already had a positive impact on the market. Other factors that have increased the demand for processed potato products include the ready availability of potatoes for instant meals which is comparatively low cost, ease of handling, and an end product with a good taste for consumers. As a result, the consumption pattern of potatoes has shifted from fresh to processed products. People tend to consume more potatoes for its nutritional value such as starch and proteins.
Potato Processing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to potato processing market analysis report, the expansion and recovery of restaurant chains and quick-service restaurants are expected to increase demand for potato processing, as these food services rely heavily on French fries, potato snacks, and other ready-to-cook meals. Annual sales grew at commercial foodservice establishments in Canada. For example, the sales increased from USD 54,900 Million in 2020 to USD 61,400 Million in 2021, according to Restaurants Canada estimates. The expansion is aided further due to the increasing penetration of online food delivery services that enable the restaurants to deliver food even when restrictions were imposed due to the COVID-19 pandemic.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 29.28 billion |
| Market size value in 2031 | USD 46.99 billion |
| Growth Rate | 5.42% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Potato Processing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Potato Processing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Potato Processing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Potato Processing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Potato Processing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Potato Processing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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