Processed Potatoes Market size is set to grow by USD 45 billion from 2024-2028, Growing focus on expanding production capabilities for potato processing boost the market, Technavio

NEW YORK, June 6, 2024 /PRNewswire/ -- The global processed potatoes market size is estimated to grow by USD 45 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.34%  during the forecast period. The global processed potatoes market has experienced substantial growth in the last decade due to the rise of e-commerce. This online distribution channel allows customers to access a wide range of processed potato brands and multicultural products, particularly Asian flavors in potato chips and French fries.

Vendors benefit from easy market access and expanded reach through various e-commerce platforms, such as brand-owned sites and pure-play retailers. Key products include BBQ Potato Chips and Salt and Vinegar Potato Chips. The growing preference for online shopping and increasing Internet penetration are expected to continue driving market growth. 

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Market Driver

The processed potatoes market is currently experiencing significant growth, with key players focusing on innovation and consumer preferences. Chips and fries remain popular choices, with consumers seeking new and unique flavors. Consumption of organic and natural products is on the rise, driving demand for potato products with minimal processing.

Ready-to-cook and convenience foods are also trending, as consumers look for time-saving solutions. Additionally, the use of sustainable farming practices and eco-friendly packaging is becoming increasingly important to both producers and consumers. Overall, the processed potatoes market is expected to continue growing, with a strong focus on product development and consumer satisfaction. 

Market Challenges

• The global processed potatoes market faces regulatory challenges due to stringent rules from agencies like the FDA in the US and EFSA in Europe. These regulations cover permits, new player entry, residual management, and product expiry. FDA limits ingredients and labeling, while EFSA monitors health claims. Compliance is difficult, hindering new players and innovations.
• The Processed Potatoes Market faces several challenges in the industry. One major challenge is the high cost of production due to factors such as raw material prices and energy costs. Another challenge is the increasing demand for organic and natural processed potatoes, which requires additional resources and processes.
•  Additionally, competition from other staple foods and convenience items can impact market growth. Regarding supply, inconsistent yields and weather conditions can affect the availability of raw materials. Furthermore, regulatory requirements and consumer preferences for reduced sodium and healthier options pose challenges for manufacturers. Overall, the Processed Potatoes Market must adapt to these challenges to remain competitive and meet evolving consumer demands.

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Segment Overview 

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Potato chips
• 2.2 Potato flakes
• 2.3 Potato starch
• 2.4 Frozen french fries
• 2.5 Others
3. End-user 
• 3.1 Foodservice sector
• 3.2 Retail sector
• 3.3 Industrial sector
4. Geography 
• 4.1 North America
• 4.2 Europe
• 4.3 APAC
• 4.4 South America
• 4.5 Middle East and Africa

1.1 Offline-  The organized retail sector's growth, led by supermarkets and hypermarkets in developed and developing countries, is driving sales of processed potatoes. Supermarkets and hypermarkets provide consumers with a wide product range, discounted prices, and a pleasant shopping experience, making them a popular choice. Convenience stores, independent retailers, and specialty stores also contribute significantly to the market's growth. Effective budgeting and consumer reach are advantages for players and distributors operating specialty stores.

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Research Analysis

The Processed Potatoes Market has experienced significant growth due to the easy availability and convenient packaging of snack foods and ready meals. This expansion is driven by rapid urbanization and the increasing demand from a young population. The potato industry plays a crucial role, with farmers adopting modern farming techniques to increase production.

French-fried potatoes, chips, and flakes are popular processed potato products, widely used in restaurants and nutriment chains. Organic and inorganic growth strategies are employed by market players to capitalize on investment pockets. Cedric Porter, an industry expert, emphasizes the importance of catering to consumers' desires for healthier options and sustainable farming practices. The goal is to meet the modern consumer's demand for ready-to-cook and prepared meals while ensuring starch quality and food safety.

Market Research Overview

The Processed Potatoes Market encompasses the production, distribution, and consumption of various processed potato products. These include potato chips, french fries, dehydrated potatoes, and other processed forms. The market is driven by factors such as increasing consumer preference for convenience foods and the growing demand for snacks.

Additionally, advancements in technology have led to the production of healthier processed potato products, catering to the rising health consciousness among consumers. The market faces challenges from raw material availability and price volatility, as well as increasing competition from alternative snack options. Overall, the Processed Potatoes Market is expected to grow steadily in the coming years, driven by consumer trends and technological advancements.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Product
• Potato Chips
• Potato Flakes
• Potato Starch
• Frozen French Fries
• Others
• End-user
• Foodservice Sector
• Retail Sector
• Industrial Sector
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio