Potato Processing Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Potato processing 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.

Sizing and Forecast
The potato processing market size has grown strongly in recent years. It will grow from <b>$30.41 billion in 2023 to $32.13 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. </b> 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 <b>$40.61 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. </b> 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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Segmentation & Regional Insights
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

<b>Western Europe</b> was the largest region in the potato processing market in 2023. <b>Asia-Pacific</b> 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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the potato processing market include <b> 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 </b>

The potato processing market report table of contents includes:

1. Executive Summary

2. Potato Processing Market Characteristics

3. Potato Processing Market Trends And Strategies

4. Potato Processing Market – Macro Economic Scenario

5. Global Potato Processing Market Size and Growth
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31. Global Potato Processing Market Competitive Benchmarking

32. Global Potato Processing Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Potato Processing Market

34. Potato Processing Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Lamb Weston Holdings Inc

The Kraft Heinz Co

John Richard Simplot

Agristo NV,

Key Technology Ltd

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