Potato Flake Market is projected to reach USD 12,824.10 million by 2034, growing at a CAGR of 4.8% during the forecast period 2024 to 2034 | Future Market Insights
Future Market Insights Global and Consulting Pvt. Ltd.
9 min read
Future Market Insights Global and Consulting Pvt. Ltd.
Sales of potato flakes in China are anticipated to rise at a 2% CAGR over the forecast period. India is home to the largest vegetarian population in the world, making the environment in the country conducive to the growth of the market.
NEWARK, Del, Aug. 01, 2024 (GLOBE NEWSWIRE) -- The potato flake market demand is estimated to be worth USD 8,056.80 million in 2024. Well-established popularity of processed food and snacks is making sure the demand for potato flakes remains strong. There is thus a firm base for the market to progress.
Through the year 2034, potato flake demand is set to progress at a CAGR of 4.8%. The food service industry is making increasing use of potato flakes as a thickening agent, in the preparation of delicacies such as soups and sauces. Mashed potatoes becoming more popular in non-traditional markets, such as Japan and China, which is also seeing the demand advance for the product.
By 2034, it is forecasted that the market value will have reached USD 12,824.10 million. Through the forecast period, the number of vegan and vegetarian people is anticipated to rise substantially. With potato-based products being a common fixture in vegan and vegetarian diets, the demand for potato flakes is anticipated to progress strongly in the forecast period.
There are however stumbling blocks in the path of the market. Bad quality potatoes, resulting in mediocre potato flakes, are a risk that market players have to face up to. Alternatives like arrowroot and cornstarch, as thickening agents, also eat into the progress of the market.
How Does the Potato Flakes Market Compare in the Historic and Future Outlook?
Potato flakes are pieces of dehydrated squashed potatoes. These flakes are the key component in pre-mashed potato retailed in food stores, in commercially accessible products, such as pasta, instant mashed potatoes, croquettes, and bakery. Owing to the veganism trend potato protein is gaining traction. Flakes act as a thickening agent and improve the texture of gravies as well as many confectionary products also helps in extending the shelf life of bakery products
Consumers are willing to spend more on ready-to-eat food or on food products which take less cooking time urbanization and buying power increase, saving them time that would otherwise be spent preparing traditional breakfasts or meals. Increased expenditure on ready-to-eat meals is also propelling the worldwide potato flakes market, so this growth is projected to continue throughout the forecast period.
“Through the presence of the burgeoning food and food service industry, the demand for potato flakes is inflating. While the market has some inherent drawbacks, investors are investing in expanding production facilities to keep the demand moving. Thus, the market presents opportunities for investors,”- Nandini Roy Choudhury, Client Partner at Future Market Insights
Key Takeaways from the Potato Flake Market
The potato flake market is anticipated to be USD 8,056.80 million in value in 2024.
Frozen potato flakes top the form segment in the market. For 2024, frozen potato flakes are expected to account for 56.7% of the market share.
Food service/HoReCa industry makes predominant use of potato flakes. For 2024, food service/HoReCa industry is anticipated to account for 44.1% of the market share.
India is a promising country for the market. The CAGR for India over the forecast period is forecasted to be 7.8%.
Germany is a country poised to be lucrative for the market. For the 2024 to 2034 period, the CAGR for Germany is pegged at 5.5%.
The market is expected to register a CAGR of 3.3% in the United States over the forecast period.
How to flourish in the fearless novel world of the Potato Flakes market?
Massive expansion and launch of major potato flakes brands are projected to augment continue driving overall growth of the potato flakes market in the coming years. Top companies are effectively gaining traction in the organized potato flakes marketplace, and they are opening up opportunities for long-term expansion in other regions as well.
The rate of technology absorption in the food industry has recently been reported to be progressive, convincing leading manufacturers to increase their R&D efforts. The growing number of applications has prompted large commercial vendors to create a variety of potato flakes in their simplest forms, pointing to market discovery opportunities in tandem with enhanced research activities.
A plethora of organic potato flakes have entered the market, in response to rising customer-rises nutrient value and non-GMO-labeled products. The concept of organic farming has led to significant changes in the overall farming practices used in agricultural-based regions around the world.
Competition Analysis of the Potato Flake Market
Market players are concentrating on improving production facilities to advance in the market. With the expanding food industry, market players are targeting geographic expansion.
Recent Developments in the Potato Flake Market
In March 2024, HyFun Foods announced plans to set up three new potato processing plants in India.
In February 2024, the Emsland Group laid out plans to more than double its production numbers at its potato processing facility in Emlichheim, Germany.
Why is China Considered a Key Potato Flakes Consumer of East Asia?
According to FMI, the sales of potato flakes in china are anticipated to rise at a 2.4% CAGR over the forecast period and hold a market share of more than 52% at present in 2022 in East Asia.
The growing number of applications has prompted large commercial vendors to generate a number of potato flakes in their purest forms, attempting to point to market discovery opportunities in tandem to increased research activities.
Key players' efforts to realize innovative, innovative product developments, and unique product portfolio in order to gain a competitive advantage and greater brand positioning will continue to be prime economic determinants for potato flakes.
What is the Performance of the Indian Potato Flakes Market?
One of the key drivers of the potato flakes market's exponential growth is the rising trend of ready-to-eat food in India. Consumers are experimenting with inventive ways to use immediate potato flakes to make crispy meat cuisines, adding texture and consistency to meals.
The expansion of ecommerce, the proliferation of the internet, and the increase in online stores in comparison to review sites are key transformations that have enabled customers to draw comparisons for price levels of potato flakes product variants. Abundance of inherent intelligence on products, as well as other relevant details such as producer and crop origin, has resulted in increased product transparency in the potato flakes market, favoring its growth. Furthermore, the market is expected to grow due to competitive pricing of potato flakes products, as well as various profitable offers involved in online purchases.
Key Companies in the Potato Flake Market
Nestlé S.A.
Bob's Red Mill Natural Foods Inc.
Idahoan Foods LLC
McCain Foods Limited
Rixona B.V.
Basic American Foods, Inc.
Agrarfrost GmbH & Co. KG
Patwary Potato Flakes Ltd.
Clarebout Potatoes NV
Goodrich Cereals
Lamb Weston Holdings Inc.
Iscon Balaji Foods Pvt Limited
Lutosa SA
Nahr-Engel GmbH
Bem Brasil Alimentos LTDA
Oregon Potato Co.
Key Segments
By Nature:
Organic
Conventional
By Form:
Frozen
Dehydrated
By End Use:
Business to Consumers
Hypermarket/Supermarket
Convenience Store
Specialty Store
Traditional Grocery
Online Retailers
Business to Business
Food Service Industry/HoReCa
Food Industry
Soups & Premixes
Bakery
Snacks
Frozen Food
Baby Food
Meat Processing
Animal Feed
By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
