Potato Processing

Potato Processing Market - Insights, Size, Share, Opportunity
Analysis, and Industry Forecast till 2025
Potato is a starchy root vegetable, which is mainly obtained from the plant Solanum
tuberosum. Potato tuber is widely processed to get a variety of food products such as chips,
fries, flakes, and other convenience food. Potato is also processed for its application as filler,
binder, and adhesive by various end-use industries such as paper, textile, and
pharmaceuticals. Furthermore, processed potato is used in animal feed and biofuels as well.
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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.
Cull potato is used as animal feed for beef and dairy cattle as it is an excellent source of
digestible proteins, carbohydrates, and amino acids. Production of bioethanol from potato
peels is another growing application of potatoes. Potato starch can be used as an adhesive.
Glue, animal feed, and biofuel are important applications of potatoes, which contribute to a
significant market share.
The global potato processing market is estimated to be valued at US$ 2,327.3 million in
2017 and is expected to expand at a CAGR of 5.5% in terms of revenue during 2017– 2025.
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.
Regional Insights
Europe is estimated to account for a major share in the market in terms of revenue in 2017
and is projected to continue its dominance throughout the forecast period. Europe
experiences significant demand for high-quality and nutritious processed and convenience
foods. Several key players are using innovative processing and packaging technologies to
attract consumers. In Europe, major potato processing companies are investing heavily in
their plants considering the huge demand for processed potato products. For instance, Aiko
plans to invest US$ 210 million on its potato processing plant in 2017
North America is the second largest market for potato processing as potato containing
processed foods are of high demand in this region owing to busy lifestyle of consumers,
affordability, and taste. McCain Foods plans to invest US$ 200 million in 2017 on its potato
processing plant in this region due to growing popularity of processed potato foods
Asia Pacific is projected to be the fastest growing market in terms of revenue owing to
changing eating habits and improvement in the standard of living. Also, abundance of raw
materials and cost competitiveness act as major growth drivers. According to India Brand
Equity Foundation (IBEF), a trust established by the Department of Commerce, Ministry of
Commerce and Industry, Government of India, the consumer spending on processed food
will increase to US$ 3.6 trillion by 2020, which will augment potato processing market
growth. Chinese food processing company, Xisen Potato Industry, along with Scottish potato
experts from James Hutton Institute are going to establish a US$ 3.87 million potato
laboratory in China during the next few years
Limited agricultural production owing to the nature of terrain, climate, and scarcity of water
has resulted in the growth of processed food, thereby increasing the demand for potato
processing market in the Middle East. Also, rapid industrial development and urbanization
are expected to further propel the market growth in the region
Increasing population in Africa is a major driver for potato processing market. In April 2017,
Switzerland-based food subsidiary, Kingdom Foods, has announced an investment of US$
10 million in Kenya, to set up a potato processing factory. Such investments will in turn boost
the potato processing market in Africa
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 Céréales Ingrédients, 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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