“The potato processing market projected to grow at a CAGR of 5.3%.”
The potato processing market is projected to grow at a CAGR of 5.3% from 2017, to reach USD 30.85 billion by 2022. The demand for processed potato is projected to be on the rise, owing to factors such as the increasing demand for convenience and processed potato-based food products, and growth in distribution channels such as quick service restaurants (QSRs) and retail stores. Growth in the demand for potato chips and increasing demand for frozen potato products are fueling the demand for potato processing. However, the market for potato processing is expected to fluctuate due to its high dependency on a regular supply of potato varieties at a reasonable price for uninterrupted operations. Also, the health issues associated with the consumption of processed potatoes such as obesity and diabetes, along with high costs incurred for storage and transportation can pose as a restraint for the market growth.
“The snacks segment, by application, is projected to be the fastest-growing segment of the potato processing market.”
In terms of both value and volume, the snacks segment is projected to grow at the highest rate between 2017 and 2022. The increase in demand for snacks such as potato chips and extruded snacks/snack pellets in urban and semi-urban areas, the competitive pricing strategies of the players, and availability of a wide variety of flavors are factors driving their demand in both, developing and developed markets. The robust consumption of packaged foods in regions such as North America and Europe and new product launches in the snacks segment are expected to increase the demand for potato processing in the snack segment in the coming years.
“Asia-Pacific is estimated to be the fastest-growing region in the market.”
In the global potato processing market, Asia-Pacific is estimated to be the fastest-growing region, in terms of value and volume, between 2017 and 2022. This region comprises developing economies such as China and India which occupy a significant share of the global potato processing market. High volumes of potato production in the Asia-Pacific countries?mainly India and China?for the potato processing industry, the inflow of foreign direct investments, increase in the number of mergers and acquisitions, and inexpensive labor are the main factors contributing to the growth of the Asia-Pacific potato processing market. The active developments strategized by the dominating players in Europe and the U.S. also acts as a driving factor in tapping the potato processing market in Asia-Pacific countries.
The increase in consumer demand for processed & convenience foods in the North American and European regions drive the demand for potato processing. The presence of several key players, coupled with advanced processing and packaging technologies also contribute to the increasing demand for potato processing in these regions.
Break-up of primaries:
- By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 – 25%
- By Designation: C level – 65%, Director level – 25%, and Others – 10%
- By Region: North America – 30%, Europe – 35%, Asia-Pacific – 25%, and RoW – 10%
The global market for potato processing is dominated by key players such as Lamb Weston Holdings, Inc. (U.S.), The Kraft Heinz Company (U.S.), McCain Foods Limited (U.S.), J.R. Simplot Company (U.S.), Agristo NV (Belgium), Farm Frites International B.V. (Netherlands), AGRANA Beteiligungs-AG (Austria), J.R. Short Milling Company (U.S.), Intersnack Group GmbH & Co. KG (Germany), Idahoan Foods, LLC (U.S.), and Aviko B.V. (Netherlands).
The potato processing market has been segmented on the basis of type, distribution channel, application, and region. In terms of insights, this research report has focused on various levels of analyses?industry analysis, market share analysis of top players, and company profiles?which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global potato processing market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons To buy this report:
- To get an overview of the global potato processing market
- To get an overview of the key players in the potato processing industry
- To gain insights of the major regions in which the potato processing market is growing
- To gain knowledge of the growth of various types of potato processing