Market Research Report
Potato Processing Global Market Report 2022
|Potato Processing Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
“Potato Processing Global Market Report 2022” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global potato processing market.
This report focuses on potato processing market which is experiencing strong growth. The report gives a guide to the potato processing market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the potato processing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Potato Processing market global report” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider potato processing market, and compares it with other markets.
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.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 is expected to grow from $27.41 billion in 2021 to $28.82 billion in 2022 at a compound annual growth rate (CAGR) of 5.14%. The potato processing market is expected to reach $35.37 billion in 2026 at a CAGR of 5.25%.
The potato processing market consists of the sale of processed potato products by entities (organizations, partnerships, and sole proprietors) that 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. Households, fast food chains, and restaurants use processed potato products to make dishes such as french fries, soups, salads, potato snacks, and others in a fraction of the time as they are already partially prepared.
The main types of processed potato products include frozen, dehydrated, chips and snacks, and others. The frozen products refer to food products made of potatoes stored in a cold place to keep them out of 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.
Western Europe was the largest region in the potato processing market in 2021. 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.
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 manufacturer 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 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.