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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Potato Processing Market report is segmented on the basis of Product Type (Fresh, Frozen, Dehydrated), Application (Processed food, Glue, Animal feed, Biofuel), and Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

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