PUBLISHER: SkyQuest Technology Consulting Pvt. Ltd. | PRODUCT CODE: 1213668
PUBLISHER: SkyQuest Technology Consulting Pvt. Ltd. | PRODUCT CODE: 1213668
Global Potato Processing Market was valued at USD 51.76 Billion in 2021, and it is expected to reach a value of USD 72.34 Billion by 2028, at a CAGR of 4.90 % over the forecast period (2022-2028).
The increased popularity of vegetarian and vegan food options in developed nations due to rising health consciousness and concern for animal welfare is anticipated to fuel demand for processed potato products over the course of the projected period. In order to boost sales, ready-to-cook potato items like fries, soups, and snacks are also being sold with labels like "vegan" or "organic."
During the projection period, there will likely be an increase in the number of vegetarians and vegans due to the growing media popularity of these lifestyle choices and their numerous health advantages.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global potato processing market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Potato Processing Market is segmented Based on Type, Application, Distribution Channel and Region. Based on Type it is categorized into Frozen, Chips & Snack Pellets, Dehydrated, Based on Application it is categorized into Snacks, Ready-to-cook & Prepared Meals, Based on Distribution Channel it is categorized into Foodservice and Retail, &. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Driver
Growth in the market will be fueled by rising demand for processed potato goods, like frozen potatoes, from the restaurant, hotel chain, and retail industries in the years to come. The adoption of technologically sophisticated potato-growing techniques by key potato-producing nations is also anticipated to fuel the expansion of the worldwide potato processing industry. The use of dietary supplements, like potato processing, to boost performance and strengthen activity adjustments is becoming more and more common in today's sports and wellness environment, where people are continuously concerned about their health. The most popular method of potato processing is a paste that can be combined with water or a tablet.
Restraint
Consuming potato chips has been linked to conditions like cancer, cardiovascular disease, and hypertension. Furthermore, consuming a lot of fried potato products raises your risk of getting diseases, including obesity and stroke. For instance, a study of 4,440 adults aged 45 to 79 discovered that those who consumed fried potatoes, such as French fries, hash browns, and potato chips, two or more times a week had a risk of early death that was twice as high as those who did not. The increased risk is a result of the fried potato products' high trans-fat content in the cooking oil. It has been demonstrated that trans fat increases blood levels of LDL cholesterol.
Market Trends
The market for potato processing has already profited from increased disposable income, increasing consumer demand, urbanization, quick-service restaurants, active participation of women in this sector, and supply chain activities. The availability of potatoes processed potato goods, less strenuous cooking techniques, infrastructure for ready-to-eat foods, comparably cheap cost, the convenience of handling, and a tasty product are further reasons that have raised the demand for processed potato products. As a result, processed potatoes are now more commonly consumed than fresh potatoes. Because potatoes are one of the few vegetables that combine both carbs and protein, people eat more of them. Increased demand for processed potatoes, frozen and dried potatoes, and potato snacks is fueling market expansion.