Press release
Potato Processing Market to Grow at a CAGR of 5.3% During the Forecast Period 2020-2025
Potato Processing Market
Full Report Link @ https://www.industryarc.com/Research/Potato-Processing-Market-Research-504483
Type - Segment Analysis
Based on the Type, Potato Processing Market is segmented into Frozen, Dehydrated, Chips & Snack Pellets, and Others. The frozen segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 4.86% during the forecast period 2020-2025. Consumption of frozen potato products like French fries is increasing owing to the increasing number of fast food chains and restaurants. Moreover, it increases shelf life and required less time for cooking that are contributing to the growth of this segment.
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Application - Segment Analysis
Based on the Application, Potato Processing Market is segmented into Snacks, Ready-To-Cook and Prepared Meals, and Others. In 2019, ready-to-cook and prepared meals held the largest share in the potato processing market. This is mainly owing to rapid changing lifestyle and busy schedule which increases the demand for ready to cook meals that save time and efforts. Moreover, availability in variety of flavors, fried, baked and air fried forms is also contributing to the growth of this segment.
Geography - Segment Analysis
Europe dominated the Potato Processing market share accounting for 37% of the market in 2019. This is mainly owing to increasing consumer demand in processing food and early establishment in food processing plants. According to European Potato Processor’s Association, more than 90% of potatoes used for processing in Europe that has main production area for potato processing where fries (chips), potato chips (crisps) and multiple other potato specialties are prepared.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing awareness among people about health and high consumption of snack foods.
Drivers – Potato Processing Market
Growing demand of Snack Foods
Growing demand of snack food like potato chips and increasing trade of frozen potato items are some factors driving the growth of Potato Processing Market. Moreover, the increasing popularity of ready to eat food along with an increase in supply chain activities and rapid growth in fast-food sector are set to increase the growth of this market.
Increasing Adoption of Healthy Eating Habits
Increasing convenience diets among consumer and growing health concerns such as obesity & diabetes are some factors driving the growth of the market. Moreover, rise in the living standards, easy product availability and attractive packaging further contributing to the growth of potato processing market.
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Challenges – Potato Processing Market
Increasing health problems with the consumption of processed potatoes and the presence of high amounts of acrylamide in processed potato which causes cancer. Moreover, High cost for storage and transportation which increases the investment requirement are challenging the growth of the market are further restraining its market growth during the forecast period 2020-2025.
Potato Processing Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Potato Processing Market. Potato Processing top 10 companies are J.R. Simplot Company, Burts Potato Chips Ltd, AGRANA Beteiligungs-AG, The Kraft Heinz Company, McCain Foods Limited, Lamb Weston Holdings, Inc., Agristo NV, Pepsico, Farm Frites International B.V., Herr Foods, J.R. Short Milling Company, Calbee, Inc., Idahoan Foods, LLC., and Aviko B.V.
Acquisitions/Product Launches:
On 29 July 2018, Kraft Heinz launches a new product for the ultimate food hacker that helps the consumers who have committed to eating better and easy cooking.
On 22 November 2019, Lamb Weston launches new product Waffled Hash Brown that provides customer makes easy to add to any menu as a creative breakfast item.
Key Takeaways
In 2019, Europe dominates the potato processing market owing to increasing consumer demand in processing food and early establishment in food processing plants.
Growing demand of snack food like potato chips and increasing convenience diets among consumers is driving the market growth of potato processing.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the potato processing market report.
Increasing health problems with the consumption of processed potatoes and increasing cost for storage and transportation are challenging the growth of the market.
Related Reports :
A. Sweet Potatoes Market
https://www.industryarc.com/Report/16585/sweet-potatoes-market.html
B. Frozen Potato Market
https://www.industryarc.com/Research/Frozen-Potato-Market-Research-504882
For more Food and Beverages Market reports @ https://www.industryarc.com/Domain/6/food-beverages-market-research.html
Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
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