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Potato Processing Global Market Report 2023
Major players in the potato processing market are Lamb Weston Holdings, Inc., The Kraft Heinz Company, McCain Foods Limited, J.R. Simplot Company, Agristo NV , Farm Frites International B.V. , AGRANA Beteiligungs-AG, J.
New York, March 16, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Potato Processing Global Market Report 2023" - https://www.reportlinker.com/p06286069/?utm_source=GNW
R. Short Milling Company , Intersnack Group GmbH & Co. KG, Idahoan Foods, LLC, Aviko B.V., Burts Potato Chips Ltd., Agristo NV, Pepsico, and The Little Potato Company Ltd.
The global potato processing market grew from $29.02 billion in 2022 to $30.73 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The potato processing market is expected to grow to $38.47 billion in 2027 at a CAGR of 5.8%.
The potato processing market consists of sales of french fries, soups, salads, potato snacks.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The potato processing refers to convenience potato products primarily made by washing, peeling, size reduction, and the removal of defective matter.These processing steps involve a wide combination of heat treatments, cooling, dehydration, and frying systems or freezing stages.
Peeled potatoes are parboiled, air dried, par-fried, frozen, and packaged after blasting through cutting blades. After that, the completed products are packaged and stored based on product requirements.
Western Europe was the largest region in the potato processing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the potato processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of processed potato products include frozen, dehydrated, chips and snacks, and others.Frozen products refer to food products made of potatoes stored in a cold place to keep them from spoiling.
Fresh potatoes are diced and frozen to reduce the cooking time.They are used in ready to cook and prepared meals, snacks, food additive in soups, gravies, bakery, and deserts.
They are distributed through food services, specialty stores, convenient stores, departmental stores, and others.
Growing consumer preferences for convenience foods to save time and effort are driving the potato processing market.The lifestyle, tastes, and preferences of consumers are rapidly changing.
Consumers are increasingly shifting toward convenience foods due to a lack of time to prepare home-cooked food and a willingness to experiment and explore different tastes.As a source of daily nourishment and a time-saving option, processed potato products are used in most convenience food.
According to the study conducted by OnePoll in partnership with Farm Rich on 2,000 Americans in 2020, more than 69% of respondents preferred to continue with comfort food in the post-pandemic era. Due to an increase in customer preferences for convenience foods, there has been an increase in the growth of the potato processing market.
Expansion plans are a key trend gaining popularity in the potato processing market.The companies operating in potato processing market are focusing on expand their existing manufacturing units and establishments of new processing facilities to meet demand for both domestic and international customers.
In December 2020, McCain Foods, a Canada-based frozen food products manufacturer announced a $200 million investment in a second potato processing plant in China to lead innovation in frozen potato products by increasing capacity and specialized production capability. In March 2021, Lamb Weston Holdings, a USA-based food processing company announced that it would build a new frozen french fry processing facility in Ulanqab, Inner Mongolia, China, with a capacity of more than 250 million pounds of frozen french fries and other potato products per year.
In September 2020, Aviko Rexona, a Europe-based manufacturer of fresh, frozen, dried, and specialty potato products, acquired the Pfanni instant potato plant for an undisclosed amount.With this acquisition, Aviko will manufacture potatoes into branded products (mashed potatoes, dumplings, gnocchi, and instant snacks).
It will help the company to grow faster in the market and expand its presence in the potato granules and flakes sector across the globe. Pfanni is a German-based manufacturer of processed potato products, such as mashed potato powder and dumplings.
The countries covered in the potato processing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The potato processing market research report is one of a series of new reports that provides potato processing market statistics, including potato processing industry global market size, regional shares, competitors with a potato processing market share, detailed potato processing market segments, market trends and opportunities, and any further data you may need to thrive in the potato processing industry. This potato processing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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