Processed Potatoes Market Size, Growth Opportunities and Industry Forecast by 2030
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Companies Covered: Aviko, Calbee Foods, Herr Foods, Kellogg, Kettle Foods, Avebe, PepsiCo, Lamb Weston, Burts Chips, Old Dutch Foods, Snyder's-Lance,Tyrrells Potato Crisps, Intersnack , McCain Foods.
COVID-19 Scenario Analysis
The COVID-19 outbreak has shaken all the economies in the world. In this scenario, some industries are doing extremely well while others have been crushed. The necessity food market, cleaning & hygiene product market and medical industry are such categories which are witnessing a high growth. The consumers are more inclined toward traditional, safe, staple, and healthy food due to which demand for packaged and processed potatoes has experienced decline. In addition, the lockdown in different economies caused impaired supply chain and unavailability of workers & raw materials due to which production of the processed potatoes manufacturing companies has been hampered.The end of the lockdown in the countries may bring higher consumer traffic to this market. E-commerce may also witness growth in the post COVID-19 scenario. In post COVID-19 scenario, the sale of processed potatoes may increase from e-commerce platforms. The companies need to develop such strategies to change the design of their supply chain and production policies or plan in tandem with the changing business environment.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The availability of wide range of processed potato food in the market has increased the demand for this product. Companies have launched various processed potato foods with different tastes and flavors to broaden their offerings and to attract more customers. Among the most prominent flavors are triple-boiled chips with smoked barbecue and sea salt, garlic & black pepper fries, and zesty-style fries. A large variety of flavors stimulate the demand for processed potato products.
The change in lifestyle and hectic schedule has influenced the food habit of the consumers. People prefer convenience food more than ever and that has surged the demand for processed potato food. In addition, the increase in trend of sharable snacks and on-the go consumption has given traction to the demand for the processed and packaged potato snacks. Moreover, increase in the working class women in the various countries have raised the purchasing of food products which are quick, easy, and need less effort to cook which resulted in the growth of processed potato products.
New Product Launches to Flourish the Market
The launches of new products that contain enhanced flavors have been launched by leading market players. Owing to the rise in dual income families, change in lifestyle has surged the demand for open & eat food trends. In addition, millennials are more inclined toward eating processed potato than fresh ones. To serve this rise in demand, the companies are focused on introducing new potato based processed food and ready to eat food. For instance, in February 2019, Belgian based company De Aardappelhoeve launched new processed potato products to target younger generation who are willing to consume processed potato snacks than fresh potatoes. Furthermore, in May 2018, McCain foods introduced shake-shake potato food product with range of flavors. It launched variety of processed potato product for both vegan and non-vegan.
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Changing Packaging of the Products
Packaging plays an important role in appealing the consumers. The attractive and appealing look of the package stimulates demand in the mind of the consumers. Leading players are focused on giving appealing looks to their new products range. As package design of a product act as a silent advertiser, the companies are changing the package of existing potato products. For instance, lays has changed the color and design of the packaging of all its existing processed potato chips product range. It has changed the size and position of the logo on the package and changed the photography of chips to a top-down angle image. It gives a contemporary and modern look at the same time.
Key Benefits of the Report
This study presents the analytical depiction of the global processed potatoes market industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global processed potatoes market share.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the global processed potatoes market.
Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
The report provides a detailed global processed potatoes market analysis based on competitive intensity and how the competition will take shape in coming years.
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