Industrial, Manufacturing & Heavy Industry Market News

Potato processing industry to reach $32.45 billion in 6 years

Global Potato Processing market is expected to grow from $19.74 billion in 2016 to reach $32.45 billion by 2023 with a CAGR of 7.3%.

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Description:

imageRapid urbanization, progress in the standard of living, easy availability, consumer preferences for convenience foods and favorable packaging are the major factors propelling the market growth.

In addition factors such as soaring demand for applications such as snack foods and prepared ready meals, increase in the number of retail channels such as hypermarkets and supermarkets and rapid growth of the fast food industry are driving the market growth. However, high costs incurred for storage and transportation and health issues associated with the consumption of processed potatoes such as obesity and diabetes are the factors hindering the market growth.

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By Product, the frozen segment commanded the largest market share during the forecast period due to the frozen potato being consumed on a large scale owing to rise in demand for French fries across the globe. Also with the expansion of foreign Quick Service Restaurants (QSRs) such as KFC, Pizza Hut, McDonald’s, Burger King, Dunkin’ Donuts and Subway in countries such as India and China contribute to the growth of the market.

These products are gaining significance due to properties such as prolonged shelf life and the lesser time required for meal preparation. French fries, Smiles, Chilli Garlic Potato Bites, Super Wedges, Veggie Burger and Aloo Tikki are some of the famous frozen potato products.

Geographically, Asia Pacific is expected to grow at a fastest CAGR due to high production of potatoes for its vast growing population across its countries. In addition, Government policies such as FDI (Foreign Direct investment) being adopted by developing economies, increase in the number of hotels and restaurants serving frozen potato products have led to the growth of potato processing products in this region.

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Some of the key players in the Potato Processing market are Intersnack Group GmbH & Co. Kg, The Kraft Heinz Company, Idahoan Foods LLC, Aviko B.V., Leng-D’or, The Little Potato Company Ltd, Limagrain Céréales Ingrédients, Agrana Beteiligungs-AG, Farm Frites International B.V., Mccain Foods Limited, Agristo NV, J.R.

Short Milling Company, Lamb Weston Holdings, Inc and J.R. Simplot Company.

Distribution Channels covered:
Retail
Foodservice

Applications covered:
Ready-To-Cook & Prepared Meals
Snacks
Other Applications

Products covered:
Chips & Snack Pellets
Dehydrated
Frozen
Other Products

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

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What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends.
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements

 

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