Global Potato Processing Market to Reach $30.8 Billion by 2022 - Analysis By Type, Application, Distribution Channel & Region
DUBLIN, August 25, 2017 /PRNewswire/ --
The "Potato Processing Market - Global Forecast to 2022" report has been added to Research and Markets' offering.
The potato processing market is projected to grow at a CAGR of 5.3% from 2017, to reach a projected value of USD 30.85 Billion by 2022. Easy availability, convenient packaging, rapid urbanization, change in eating habits, and improvement in the standard of living are the major factors that have driven the potato processing market in recent years. Other factors such as the growth in consumer preferences for convenience foods to save time and efforts, coupled with the rise in demand for applications such as snack foods and prepared ready meals, are expected to drive the growth of the potato processing market during the forecast period.
On the basis of type, the market has been segmented into frozen, chips & snack pellets, dehydrated, and others (canned potato, potato granules, flour, and starch). The frozen segment dominated the global potato processing market, and this trend is expected to continue through the forecast period. Frozen potato products are highly consumed owing to the increase in demand for french fries, served in restaurants and fast food chains, worldwide. The expansion of Quick Service Restaurants (QSRs) such as KFC, Pizza Hut, and McDonald's in countries such as India and China, is expected to fuel the demand for frozen potato products during the forecast period. The chips & snack pellets segment was the second-largest due to the growing popularity of potato chips among young population and ease of availability.
Based on application, the market is segmented into snacks, ready-to-cook & prepared meals, and others (food additives in soups, gravies, bakery, and desserts). The consumption of processed potato products in ready-to-cook & prepared meals application is estimated to account for the largest market share in 2017. Processed potato products used in ready-to-cook & prepared meals is a booming market due to the increase in consumer preference for convenience food products, busy work schedules, and on-the-go consumption habits. Apart from ready-to-cook & prepared meals, processed potato products also find applications in the snacks segment, such as potato-based snacks with low carbs, low salt, air-dried, baked products with a number of flavors, which also drives the demand for potato processing market.
The potato processing market has been segmented on the basis of distribution channel into foodservice and retail. Potato processing have been gaining importance in the foodservice segment due to the growth of food delivery channels and increase in demand for fast food. Apart from the demand from full-service and quick service restaurants, increase in the number of national and international brands in the hotel industry is expected to drive the demand for potato products in the foodservice industry during the forecast period.
Companies Mentioned
- Agrana Beteiligungs-Ag
- Agristo Nv
- Aviko B.V.
- Farm Frites International B.V.
- Idahoan Foods, Llc
- Intersnack Group Gmbh & Co. Kg
- J.R. Short Milling Company
- J.R. Simplot Company
- Lamb Weston Holdings, Inc.
- Leng-D'or
- Limagrain Crales Ingrdients
- Mccain Foods Limited
- The Kraft Heinz Company
- The Little Potato Company Ltd.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Processed Potato Products Market, By Type
7 Processed Potato Products Market, By Application
8 Processed Potato Products Market, By Distribution Channel
9 Processed Potato Products Market, By Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/research/q2rz8z/potato_processing
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