Potato Flake Market Driven by Rising Demand for Processed Food: Future Market Insights
DUBAI, UAE / ACCESSWIRE / August 24, 2020 / According to a new market study by Future Market Insights (FMI), the potato flake market is forecasted to grow at a healthy pace between 2019 and 2029.
The report attributes the growth of the market to increasing preference for processed food products as a result of hectic lifestyles across the world. Potato flakes are majorly used in the preparation of dishes that involve mashed potatoes. Moreover, they are used as a thickener or base in the production of ready-to-eat vegetable gravies and soups. The growing adoption in food preparation will continue to fuel market growth.
Furthermore, potato flakes find usage as an ingredient for potato chips, texturized potato products, snack pellets, etc, thereby further propelling the demand in the food production sector. Likewise, macroeconomic factors such as rapid urbanization and growing GHDI of consumers has increased the spending power of consumers on ready-to-eat and processed food products, which will continue to drive the demand.
“Market players are leveraging the penetration of internet and social media to expand their brand visibility, and are focusing on widening their product portfolio”, opines FMI analyst.
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Potato Flake Market – Key Takeaways
- The global potato flakes market was valued at US$ 17.1 Bn in 2019 and will expand at a healthy rate of 7% through the forecast period.
- On the basis of nature, the conventional potato flakes segment is expected to account for the majority of market share, while organic potato flakes will gain prominence owing to increasing preference for non-processed food products.
- Baked on the end-use, the business-to-consumer segment will hold the lion’s share while the business-to-business segment will expand at a healthy CAGR.
Potato Flake Market – Key Trends
- The penetration of the internet and e-commerce is expected to emerge as a major trend, opening new avenues for distribution.
- Increased emphasis on soil fertility and health consciousness has created an upsurge in demand for organic potato flakes.
Potato Flake Market – Regional Analysis
- Asia-Pacific excluding Japan (APEJ) is projected to spearhead the regional landscape owing to high demand for nutrition-rich processed food among the middle-class population coupled with a strong presence of market players.
- Eastern Europe is anticipated to remain a prominent region owing to the high consumption of processed food in the region.
- North America will continue to hold a respectable share in the overall market value.
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Potato Flake Market – Competitive Landscape
Some of the key players operating in the market include Idahoan Foods, McCain Foods Limited, Nestle S.A., Inc., Clarebout Potatoes NV, Goodrich Cereals, Lamb Weston Holdings, Inc., Iscon Balaji Foods Pvt Limited, Lutosa SA, Patwary Potato Flakes Ltd., Bem Brasil Alimentos LTDA, Rixona B.V., Agrarfrost GmbH & Co. KG, Nahr-Engel GmbH, Basic American Foods, Inc., and Bob’s Red Mill Natural Foods. Market players are focusing on expanding their geographical footprint and are entering partnerships to achieve the same.
- In March 2018, Nestle S.A. opened a new quality assurance lab in Araras, Brazi to enhance the company’s organic product portfolio in the region.
- In April 2018, McCain Foods Limited completed a strategic investment with a highly innovative agriculture company, TruLeaf Sustainable Agriculture to set new standards for efficient crop production and environmental care.
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Potato Flake Market – Taxonomy
End-use:
- Business to Consumers
- Hypermarket/Supermarket
- Convenience Store
- Specialty Store
- Traditional Grocery
- Online Retailers
- Business to Business
- Food Service Industry
- Food Industry (Soups & Premixes, Bakery, Snacks, Frozen Food, Baby Food, and Meat Processing)
- Animal Feed
Nature:
- Organic
- Conventional
Region:
North America
- U.S
- Canada
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Europe
- EU-5
- BENELUX
- Russia
- Poland
- Rest of Europe
South Asia
- India
- Pakistan
- Sri Lanka
East Asia
- China
- Japan
- South Korea
Oceania
- Australia
- New Zealand
Middle East & Africa
- GCC
- Turkey
- South Africa
- Rest of MEA
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Get Valuable Insights into the Potato Flake Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global potato flake waste market, presenting historical demand data (2013-2018) and forecast statistics for the period from 2019-2029. The study divulges compelling insights on the potato flake market allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights
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