Global Mashed Potatoes Market - 2023-2030

Market Overview

The Global Mashed Potatoes Market reached US$ 10.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 16.5 billion by 2030. The market is growing at a CAGR of 6.4% during the forecast period 2023-2030.

Potato flakes and granules, which are dehydrated forms of mashed potatoes, are gaining popularity due to their convenience and longer shelf life. These products offer quick and easy preparation, making them a convenient option for home cooks and food service providers. Instant mashed potatoes are pre-cooked and dried mashed potato products that require minimal preparation. They are becoming increasingly popular due to their time-saving nature, making them a go-to choice for busy households and food establishments.

The trend of flavor customization has led to a wide range of seasoning and topping options for mashed potatoes. Consumers are exploring different herbs, spices, cheeses, and sauces to enhance the taste and presentation of mashed potatoes. From classic options like garlic, herbs, and butter to more adventurous choices like truffle oil or bacon bits, the possibilities are endless. In addition, the rise of veganism and plant-based diets has led to the introduction of vegan and plant-based mashed potato options.

Market Dynamics

Increasing Demand for Convenient Food is Driving the Growth of the Mashed Potatoes Market

Mashed potatoes are a popular side dish that can be easily prepared and consumed, making them a convenient option for busy individuals who are looking for a quick and easy meal. This has led to an increase in the demand for pre-packaged and ready-to-eat mashed potatoes, which can be found in supermarkets and convenience stores.

The versatility of mashed potatoes makes them a popular ingredient in many different types of dishes, including casseroles, shepherd's pie, and potato pancakes. This has led to an increase in demand for mashed potatoes as an ingredient in prepared meals and food service operations. Overall, the increasing demand for convenient food is driving the market growth of mashed potatoes, as consumers seek out quick and easy meal options that are also tasty and versatile.

Increasing Demand for Vegan and Plant Based Options is Driving the Market Growth of Mashed Potatoes Market

There has been a significant rise in the number of individuals adopting vegan and plant-based diets including potatoes. For instance, according to a report published by USDA, China's MY2020/21 fresh potato production is forecast at 99 million metric tons (MMT), a 3 percent increase over MY2019/20 primarily due to expanded acreage. Mashed potatoes, which are traditionally made with dairy milk and butter, are being modified to cater to these dietary preferences. Vegan and plant-based mashed potatoes are now made with alternative ingredients such as plant-based milk (e.g., almond, soy, or oat milk) and vegan butter substitutes.

Offering vegan and plant-based mashed potatoes helps food establishments cater to a broader range of customers. By providing alternatives to traditional mashed potatoes, such as vegan versions, restaurants, and food manufacturers can accommodate individuals with dietary restrictions, including lactose intolerance, allergies, and those following vegan or vegetarian diets. This inclusivity contributes to the market growth of mashed potatoes.

The Increasing Cost of Fertilizers Restrains the Growth of the Mashed Potatoes Market

The increasing cost of fertilizers can impact the market growth of mashed potatoes. Fertilizers are essential for the growth and yield of potato crops. Potatoes require high levels of nutrients, particularly nitrogen, phosphorus, and potassium, to produce healthy and abundant tubers. According to World Bank, the cost of fertilizer has risen nearly about 30% since the start of 2022.

As the cost of fertilizers increases, farmers may reduce the amount of fertilizer used, which could lead to lower yields and lower-quality potatoes. This could ultimately result in a shortage of potatoes and a decrease in the supply of mashed potatoes, which could drive up prices and reduce demand. Overall, the increasing cost of fertilizers could impact the entire supply chain of the mashed potatoes market, from growers to processors to consumers.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Russia-Ukraine War Impact

Ukraine is one of the largest potato producers in Europe, and any disruption in agricultural activities due to the war can impact the availability of potatoes for the mashed potatoes market. If farming operations are affected, it could lead to a decrease in the supply of raw potatoes, potentially resulting in higher prices or limited availability. The Russia-Ukraine war resulted in economic instability, particularly in the regions directly affected by the war. Economic disruptions, inflation, currency fluctuations, and changes in consumer purchasing power impacted the overall food market, including the mashed potatoes segment.

Segment Analysis

The global mashed potatoes market is segmented based on form, application, distribution channel, and region.

The Increasing Application of Mashed Potatoes as a Food Product

In 2022, the food product segment has a higher share than the food ingredients segment in the mashed potatoes market. Mashed potatoes are primarily consumed as a side dish, which means the demand for mashed potatoes as a food product is higher than the demand for mashed potatoes as a food ingredient.

Mashed potatoes are a popular side dish that is often served alongside main courses such as meat, poultry, and fish in restaurants and households. While mashed potatoes can be used as an ingredient in some food products, such as soups, stews, and casseroles, the overall demand for mashed potatoes as a food ingredient is relatively low compared to their demand as a food product. This is because there are many other types of starches and thickeners available that can be used in food formulations, and mashed potatoes are not always the most cost-effective or practical option

Geographical Analysis

Rising Demand for Mashed Potatoes in the North American Region

In 2022, North America had a significant share of the mashed potatoes market. Mashed potatoes are a staple food in North American cuisine, particularly in the United States and Canada. They are commonly served as a side dish alongside roasted meats, vegetables, and other traditional dishes.

North America is also a large market for convenience foods, and mashed potatoes are a popular choice among consumers who are looking for quick and easy side dishes. Pre-packaged and ready-to-eat mashed potato products are widely available in supermarkets and grocery stores, which has contributed to the growth of the retail market for mashed potatoes in the region. Overall, the high demand for mashed potatoes in traditional cuisine, convenience foods, and the food service industry has contributed to North America's significant share in the mashed potatoes market.

Competitive Landscape

The major global players in the market include: Knorr, Agrarfrost Holding GmbH & Co. KG, Idahoan Foods LLC, Hormel Foods Corporation, McCain Foods Limited, Hungry Jack Potatoes, Pineland Farms Potato Company Inc, Agristo Masa Pvt Ltd, Casa Milo, Simply Potatoes.

Why Purchase the Report?

• To visualize the mashed potatoes market segmentation based on form, application, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of mashed potatoes market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Mashed Potatoes Market Report Would Provide Approximately 61 Tables, 56 Figures, And 200 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies