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Potato Processing Market Expected to Reach At a Highest Growth During Forecast Period 2027
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Frozen potato segment, based on product type, is estimated to dominate the potato processing market in 2017. Frozen potato is widely used by various quick serve restaurants such as Subway, McDonald's, and Burger King. Urbanization, modernization, growing population, and increased per capita spending also contribute to the growth of frozen potato segment. Fresh potato is the fastest growing segment by product type of the potato processing market. Fresh potatoes are further processed to get dehydrated potatoes. Dehydrated potatoes also has a significant market share in global potato processing market.
Processed food has emerged as the fastest growing application of potato processing market
Processed food segment is projected to be the fastest growing segment based on application in potato processing market between 2017 and 2025. The demand for processed food is rapidly increasing due to its advantages such as ease of handling, easy or no cooking, easy preservation, and ease of storage. Processed foods are highly preferred by the consumers as they provide convenient and affordable meal options. Increase in female literacy rate and thereby increase in population of working women is another important factor that drives the market of potato containing processed food.
Multinational Players
Some of the major players in the global potato processing market include Agrana Beteiligungs-AG, Agristo NV, Aviko B.V., Farm Frites International, Idahoan Foods, Intersnack Group GmbH & Co. Kg, J.R. Simplot Company, Lamb Weston Holdings, Leng-D'or, Limagrain Crales Ingrdients, McCain Foods Limited, and The Kraft Heinz Company. Market players adopt inorganic strategies such as mergers & acquisitions to gain a competitive edge in the market. For instance, in August 2017, Lyckeby, a Sweden-based manufacturer of potato-based fiber and starch merged with Ingredion and Amazon acquired Whole Foods Market in the same period of time.
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