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Dehydrated Potato Market Advancements, Size, Key Analysis 2024
Dehydrated Potato Market
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According to The Business Research Company's, The dehydrated potato market size has grown strongly in recent years. It will grow from $5.82 billion in 2023 to $6.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to military and emergency rations, food preservation innovation, industrial food processing advancements, culinary and food industry innovation, cost-effectiveness and long-term storage.
The dehydrated potato market size is expected to see strong growth in the next few years. It will grow to $7.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to health-conscious consumer preferences, demand for emergency and disaster relief, integration into convenience snacks, globalization of food markets, diversification in culinary applications. Major trends in the forecast period include health-focused potato snacks, integration into health foods, focus on texture and quality, sustainable packaging initiatives, premium and gourmet varieties.
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Market Drivers and Trends:
Increasing demand for ready-to-eat products is expected to propel the growth of the dehydrated potato market going forward. Ready-to-eat (RTE) are food items cleaned, cooked, and packaged before being made readily available for consumption without additional preparation or cooking. Dehydrated potatoes are simple to rehydrate and prepare, providing a pleasant and hassle-free cooking experience. For instance, in November 2022, according to a report published by BUPA, British United Provident Association Limited, a UK-based health insurance and healthcare company, two in every five adults in the UK eat ready-made meals every week, and 40% of Brits eat ready-made meals every week. Further, in March 2022, according to a report published by Krungsri, a Thailand-based domestically important bank, Domestic demand for ready-to-eat meals increased by 6.4% in 2021 to THB 20 billion ($5.67 b), with growth in both packet and pouch noodles of 6.8% and cup and bowl noodles of 5.1%. Further, exports of ready-to-eat meals increased by 7.3% to $259.2 million in 2021. Therefore, the increasing demand for ready-to-eat products is driving the growth of the dehydrated potato market.
Product innovations are a key trend gaining popularity in the dehydrated potato market. Major companies operating in the market are introducing innovative products to sustain their position in the market. For instance, in August 2022, the Texas A&M Potato Breeding Program, a multi-state effort sponsored by the USDA's National Institute of Food and Agriculture, launched two new potato varieties that could enter the French fry market. The breeding center has determined that the COTX08063-2Ru variety potato clone has a high starch and high gravity species. In Texas, there is a growing demand for French fries, which has resulted in greater cultivation of high-starch potatoes, which create good French fries.
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Major Key Players of the Market:
Cargill Incorporated, Nestle SA, Pepsico Inc., Kraft Heinz Company, Intersnack Group GmbH & Co. KG, Lamb Weston Holdings Inc., Lamb-Weston/ Meijer V.O.F, Agrana Group, Emsland Group, McCain Foods Limited, Basic American Foods Inc., Aviko BV, Idahoan Foods LLC, Basic American Foods, Lutosa SA, Mydibel SA, Idaho Pacific Corporation, Idaho Supreme Potatoes Inc., Oregon Potato Company, Rixona BV, Augason Farms, JR Short Milling Co, Agrarfrost GmbH & Co. KG, Avebe U.A., Keystone Potato Products LLC, JSC Belaya Dacha Trading, Pacific Valley Foods, Engel Food Solutions, Linquan Hengda Food Co Ltd., Agistin Biotech Pvt. Ltd. , Procordia Food AB
Dehydrated Potato Market 2024 Key Insights:
• The dehydrated potato market size is expected to see strong growth in the next few years. It will grow to $7.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• Rising Trend Towards Ready-To-Eat Products Fuels Expansion Of The Dehydrated Potato Market
• Texas A&M Potato Breeding Program Introduces Innovative Potato Varieties For The Evolving French Fry Market
• Asia-Pacific was the largest region in the dehydrated potato market in 2023
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