Potato Processing Market – Growth, Trends, Industry Analysis and Forecasts (2023 to 2029)

Potato Processing Market size was valued at USD 42.2 Bn in 2022 and is expected to reach USD 61.38 Bn by 2029, at a CAGR of 5.5 %.
Potato Processing Market Overview:
The report explores the Potato Processing market's segments (Type, Distribution Channel Type, Application, and Region). Data has been provided by market participants and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Potato Processing market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Potato Processing market's contemporary competitive scenario.

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Potato Processing Market Dynamics:
During the forecast period, the demand for processed potato products is driven by the rise in living standards, continuation in urbanization, changes in food preferences, attraction toward fast food, and increasing popularity of vegetarian and vegan food products in developed regions. Processed foods are in high demand because they do not require cooking, allow easy preservation, and provide storage options, which is a motivating fast-food chain across the globe to encourage users to choose processed potato products. Ease of availability of potatoes at a low cost is also one of the reasons for the growth factor of processed food. As food services like fast food establishments make extensive use of French fries, potato snacks, and other such ready-to-cook meals, the growth and recovery of restaurant chains and quick-service restaurants are expected to increase demand for potato processing.

Nowadays, people are more health concerned, and more consumption of processed food causes obesity and diabetes. Potato chips cause hypertension, heart disease, and cancer. Some ingredients of processed potatoes, such as trans-fat-rich cooking oil, increase cholesterol levels in the blood. It is also high in a chemical known as acrylamides which have neurotoxic properties and is also found in plastics, glues, and dyes; it may harm genes and reproductive health, which may hamper the market growth.

Potato Processing Market Trends:

Frozen potatoes are in trend due to the growing number of restaurants and fast-food chains such as KFC, McDonald’s, Pizza Hut, Dominos around the world serving French fries, and frozen potato products are in great demand. It is more consumed by youngsters as the craziness of fast food is increases day by day, and it is easy to cook also. As a result, it is expected to boost the demand across the globe.
Potato Processing Market Segment Analysis:
Based on Type, the Potato Processing Market is segmented into Frozen Potato, Potato Chips, Potato Flakes, Potato Starch, and others. In 2021, Frozen Potato segment has dominated the market share by 31%. Frozen Potato, which includes most of the French fries served in fast-food restaurants and chains across the globe. The second-largest segment was chipped, due to the growing popularity of potato chips among young people and their easy accessibility, developed countries consider potato chips the king of snack foods. A dehydrated product called potato flour is used to thicken gravies and thicken soups. Potato starch thickens sauces and stews and is used to bind cake mixes, dough, biscuits, and ice cream.



Based on Application, the Potato Processing Market is segmented into Ready to cook & Prepared meals, snacks, and others. Due to the popularity of convenience food products and busy schedules, people prefer processed potato products which are ready-to-cook & prepared meals, which is driving an upward trend in market share. The demand for processed potato-based snacks with low carbs and low salt, air-dried baked products, and various products with a variety of flavors are also driving the market growth.

Based on Distribution Channel, the Potato Processing Market is segmented into foodservice and retail. The growing demand for fast food and the growth of food delivery channels have led to an increase in the importance of potato processing in the foodservice segment. During the forecast period, demand for potato products in the foodservice industry is forecasted to be driven by an increase in the number of national and international brands in the hotel industry.
Potato Processing Market Regional Insights:
Asia Pacific held the largest market share accounting for 40% in 2021. A huge number of potato farms in the region produce high-quality raw potatoes at low prices, which contributes to the growth of this segment. Diets are now shifting from table potatoes to processed potatoes in this region, and mainly frozen potatoes are in high demand. Japan imports the highest amount of frozen potatoes. Imports of frozen potato products have also grown in China and South Korea as the consumption of these products expands beyond quick-service restaurants (QSRs). There are growing incomes in India and a cultural tradition of snacking between meals, causing the Indian snacking market to grow at a 9.8% volume CAGR through the forecast period. There is a large value share of ethnic/traditional snacks in India, but potato chips make up 35% and processed snacks 12%.

South America is expected to witness significant growth in the forecast period due to factors such as the increase in the number of large-scale potato processing facilities and an increase in the consumption of potato products per capita in South America. Brazil and Argentina have seen increased industrial development, leading to a greater demand for processed potatoes in South America. In recent years, exports of potatoes from Argentina to countries such as Russia, Brazil, the Netherlands, Italy, and the United States have increased. The potato processing industries in Chile have experienced significant growth because the country has become a major player in the international agriculture and processed food markets. In terms of domestic sales and exports, Brazil is one of the most promising markets. Brazil is the biggest consumer market for processed potatoes.

The objective of the report is to present a comprehensive analysis of the global Potato Processing Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers.

The reports also help in understanding the Potato Processing Market dynamic and structure by analyzing the market segments and projecting the Potato Processing Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Potato Processing Market make the report investor’s guide.
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Global Potato Processing Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 42.2Bn.


Forecast Period 2022 to 2029 CAGR:
5.5%
Market Size in 2029:
US $ 61.38 Bn.


 Segments Covered:
by Type
1.Frozen Potatoes
2.Potato Chips
3.Potato Flakes
4.Potato Starch
5.Others


by Distribution Channel
1.Foodservice
2.Retail


by Application
1.Ready to cook & prepared foods
2.Snacks
3.Others



Potato Processing Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Potato Processing Market Key Players are :
1. Lamb Weston Holdings, Inc.
2. The Little Potato Company Ltd.
3. Idahoan Foods LLC
4. Agrana Beteiligungs-AG
5. Burts Potato Chips Ltd.
6. Farm Frites International B.V.
7. Intersnack Group GmbH & Co. Kg
8. J.R. Short Milling Company
9. The Kraft Heinz Company
10. Aviko B.V.
11. Leng-D’ or McCain Foods Limited
12. Agristo NV
13. J.R. Simplot Company
Frequently Asked Question:
1. What is the study period for Potato Processing Market?
Ans: The study period of this market is 2022-2029.

2. What is the growth rate of the Potato Processing Market?
Ans: The Potato Processing Market is growing at a CAGR of 5.5% over forecast period.

3. Which region has the highest growth rate in Potato Processing Market?
Ans: The South America region has the highest growth rate in Potato Processing Market.

4. Which region has the largest share in Potato Processing Market?
Ans: Asia Pacific held the highest share in 2022.

5. What are the significant segments operating in the market?
Ans: The significant segments are Product Type, Distribution Type, Application, and Geography