NEW
YORK, June 6, 2024 /PRNewswire/ -- The
global processed potatoes market size is estimated to
grow by USD 45 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of over 5.34% during the forecast
period. The global processed potatoes market has experienced
substantial growth in the last decade due to the rise of
e-commerce. This online distribution channel allows customers to
access a wide range of processed potato brands and multicultural
products, particularly Asian flavors in potato chips and French
fries.
Vendors benefit from easy market access and expanded reach
through various e-commerce platforms, such as brand-owned sites and
pure-play retailers. Key products include BBQ Potato Chips and Salt
and Vinegar Potato Chips. The growing preference for online
shopping and increasing Internet penetration are expected to
continue driving market growth.
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Processed Potatoes
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.34%
|
Market growth
2024-2028
|
USD 45
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.95
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 30%
|
Key
countries
|
US, UK, Japan, Germany,
and Canada
|
Key companies
profiled
|
Burts Snacks Ltd.,
Calbee Inc., Campbell Soup Co., Cooperatie Koninklijke Cosun UA,
Farm Frites International B.V., Groupe Limagrain, Idahoan Foods
LLC, J.R. Short Milling Co., J.R. Simplot Co., Kellogg Co., Lamb
Weston Holdings Inc., LENG DOR S.A.U., McCain Foods Ltd., Old Dutch
Foods Ltd., PepsiCo Inc., Pfeifer and Langen GmbH and Co. KG, Royal
Avebe, SZVG eG, The Kraft Heinz Co., and The Little Potato
Co.
|
Market Driver
The processed potatoes market is currently experiencing
significant growth, with key players focusing on innovation and
consumer preferences. Chips and fries remain popular choices, with
consumers seeking new and unique flavors. Consumption of organic
and natural products is on the rise, driving demand for potato
products with minimal processing.
Ready-to-cook and convenience foods are also trending, as
consumers look for time-saving solutions. Additionally, the use of
sustainable farming practices and eco-friendly packaging is
becoming increasingly important to both producers and consumers.
Overall, the processed potatoes market is expected to continue
growing, with a strong focus on product development and consumer
satisfaction.
Market Challenges
- The global processed potatoes market faces regulatory
challenges due to stringent rules from agencies like the FDA in the
US and EFSA in Europe. These
regulations cover permits, new player entry, residual management,
and product expiry. FDA limits ingredients and labeling, while EFSA
monitors health claims. Compliance is difficult, hindering new
players and innovations.
- The Processed Potatoes Market faces several challenges in the
industry. One major challenge is the high cost of production due to
factors such as raw material prices and energy costs. Another
challenge is the increasing demand for organic and natural
processed potatoes, which requires additional resources and
processes.
- Additionally, competition from other staple foods and
convenience items can impact market growth. Regarding supply,
inconsistent yields and weather conditions can affect the
availability of raw materials. Furthermore, regulatory requirements
and consumer preferences for reduced sodium and healthier options
pose challenges for manufacturers. Overall, the Processed Potatoes
Market must adapt to these challenges to remain competitive and
meet evolving consumer demands.
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Segment Overview
- Distribution Channel
- Product
- 2.1 Potato chips
- 2.2 Potato flakes
- 2.3 Potato starch
- 2.4 Frozen french fries
- 2.5 Others
- End-user
- 3.1 Foodservice sector
- 3.2 Retail sector
- 3.3 Industrial sector
- Geography
- 4.1 North America
- 4.2 Europe
- 4.3 APAC
- 4.4 South America
- 4.5 Middle East and
Africa
1.1 Offline- The organized retail sector's
growth, led by supermarkets and hypermarkets in developed and
developing countries, is driving sales of processed potatoes.
Supermarkets and hypermarkets provide consumers with a wide product
range, discounted prices, and a pleasant shopping experience,
making them a popular choice. Convenience stores, independent
retailers, and specialty stores also contribute significantly to
the market's growth. Effective budgeting and consumer reach are
advantages for players and distributors operating specialty
stores.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Processed Potatoes Market has experienced significant growth
due to the easy availability and convenient packaging of snack
foods and ready meals. This expansion is driven by rapid
urbanization and the increasing demand from a young population. The
potato industry plays a crucial role, with farmers adopting modern
farming techniques to increase production.
French-fried potatoes, chips, and flakes are popular processed
potato products, widely used in restaurants and nutriment chains.
Organic and inorganic growth strategies are employed by market
players to capitalize on investment pockets. Cedric Porter, an industry expert, emphasizes
the importance of catering to consumers' desires for healthier
options and sustainable farming practices. The goal is to meet the
modern consumer's demand for ready-to-cook and prepared meals while
ensuring starch quality and food safety.
Market Research Overview
The Processed Potatoes Market encompasses the production,
distribution, and consumption of various processed potato products.
These include potato chips, french fries, dehydrated potatoes, and
other processed forms. The market is driven by factors such as
increasing consumer preference for convenience foods and the
growing demand for snacks.
Additionally, advancements in technology have led to the
production of healthier processed potato products, catering to the
rising health consciousness among consumers. The market faces
challenges from raw material availability and price volatility, as
well as increasing competition from alternative snack options.
Overall, the Processed Potatoes Market is expected to grow steadily
in the coming years, driven by consumer trends and technological
advancements.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Product
-
- Potato Chips
- Potato Flakes
- Potato Starch
- Frozen French Fries
- Others
- End-user
-
- Foodservice Sector
- Retail Sector
- Industrial Sector
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio