The potato processing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Potato Processing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The potato processing market size has grown strongly in recent years. It will grow from $30.41 billion in 2023 to $32.13 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to rise in demand for ready-to-cook meals and frozen products, increased demand for convenience food in line with changing lifestyles and busy schedules, rise in the number of hotels and restaurants, increase in promotional activities and social media marketing for potato processing products, availability of a wider range of potato processing products.
The potato processing market size is expected to see strong growth in the next few years. It will grow to $40.61 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to growing demand for healthy potato products such as sweet potato chips and baked potato chips, increasing global food trade and globalization, upsurge in health consciousness, growing global population, sustainability and eco-friendly practices. Major trends in the forecast period include innovating new processing technology and advanced systems, development of new products, emergence of potato-based snack products, gluten-free and allergen-free products, clean label and natural ingredients.
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Scope Of Potato Processing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Potato Processing Market Overview
Market Drivers –
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 2021, 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.
Market Trends –
Major companies operating in the potato processing market are innovating new technologies such as E²E SteamClosure to increase their profitability in the market. The E²E SteamClosure is a method that just concentrates on taking the moisture out of potatoes and turning it into reusable water. For instance, in July 2023, Tummers – Food Processing Solutions, a Netherland-based food processing company launched E²E SteamClosure. Specifically for the processing of potatoes, E²E SteamClosure provides a more efficient and sustainable option for the food processing sector. This ground-breaking technology may help conserve energy, cut emissions, and enhance the production process overall by concentrating on moisture extraction and energy conversion.
The potato processing market covered in this report is segmented –
1) By Product: Frozen, Dehydrated, Chips And Snack Pellets, Other Products
2) By Application: Ready to Cook and Prepared Meals, Snacks, Food Additives in Soups, Gravies, Bakery, Desserts, Other Applications
3) By Distribution Channel: Food Services, Specialty Stores, Convenient Stores, Departmental Stores, Other Distribution Channels
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Regional Insights –
Western Europe was the largest region in the potato processing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the potato processing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the potato processing market include Lamb Weston Holdings Inc., The Kraft Heinz Co., McCain Foods Ltd., John Richard Simplot, Agristo NV, Key Technology Ltd., Urschel Laboratories Inc., Sormac B.V., The Little Potato Company Ltd., J.R. Short Milling Company, Agrana Beteiligungs-AG, Aviko B.V., Farm Frites International B.V., Idahoan Foods LLC, Pepsico Inc., Intersnack Group GmbH & Co KG, Calbee Inc., Kellanova Co., Old Dutch Foods Inc., Burts Potato Chips Ltd., Herr Foods Inc., Kettle Foods Inc., Snyder’s-Lance Inc., Utz Quality Foods LLC, Wise Foods Inc., Ballreich Snack Food Company, Cape Cod Potato Chips, Gibble’s Foods Inc., Zapps – Utz Quality Foods., Avure Technologies Inc., Idaho Pacific Corporation
Table of Contents
1. Executive Summary
2. Potato Processing Market Report Structure
3. Potato Processing Market Trends And Strategies
4. Potato Processing Market – Macro Economic Scenario
5. Potato Processing Market Size And Growth
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27. Potato Processing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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