What is the Global market size of the Potato Processing Market?

Global Potato Processing Market size was valued at USD 29.28 billion in 2021 and is poised to grow from USD 38.74 billion in 2022 to USD 46.99 billion by 2030, growing at a CAGR of 5.42% in the forecast period (2023-2030).

What is the key driver of the Global Potato Processing Market?

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.

What is the key market trend for the Global Potato Processing Market?

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.

Global Potato Processing Market Size, Share, Growth Analysis, By Type(Frozen, Chips & Snack Pellets), By Application(Snacks, Ready-to-cook & Prepared Meals), By Distribution Channel(Foodservice, Retail) - Industry Forecast 2024-2031

Report ID: SQMIG30C2068 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 88 | Figures: 76

Global 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.

Global Potato Processing Market Report Snapshots

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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. '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.'

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.

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Global Potato Processing Market Size, Share, Growth Analysis, By Type(Frozen, Chips & Snack Pellets), By Application(Snacks, Ready-to-cook & Prepared Meals), By Distribution Channel(Foodservice, Retail) - Industry Forecast 2024-2031

Global Potato Processing Market Insights

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