A recently published report by Fact.MR reveals that the global potato flakes market is projected to grow at a modest CAGR of 7% during the forecast period (2021-2031), surpassing nearly US$ 12.39 Bn by 2031.
The potato flakes market is likely to benefit from the expansion of retail chains, both digital and physical, in combination with increasing product lines and product portfolios of established players. The retail sector witnessing a robust rise worldwide across various domains of consumer products, and potato flakes are no exception.
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Key Takeaways from the Market Study
- By nature, conventional potato flakes to continue exhibiting high demand, yielding 40% revenue
- Sales of potato flakes to especially grow across specialty stores, clocking a CAGR of 6%
- U.S to emerge as the fastest growing market for potato flakes, expanding at a CAGR of 8%
- India to be a high potential market for potato flakes, registering a growth rate of 7%
- Germany to provide new expansion avenues for potato flakes manufacturers, registering a CAGR worth 6%
- Global market for potato flakes is likely to be valued at US$ 6.3 Bn by 2021-end
“Potato flakes have sought widespread adoption in manufacturing and processing of food products, in light of its incremental filling, water- & oil-holding, and thickening attributes. Several food processing manufacturers are shifting their focus from fresh potatoes to potato flakes, in a bid to simplify production processes involved, increase productivity, and cut down manufacturing costs. Application of potato flakes has witnessed a widening trend, and culinary experts are putting constant efforts on discovering more potential applications of potato flakes,” says a lead analyst at Fact.MR.
Key Market Segments in Potato Flakes Industry Research
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Nature
- Organic Potato Flakes
- Conventional Potato Flakes
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End Use
- Potato Flakes for Household Use
- Potato Flakes for Business to Business (B2B)
- Food Service Industry
- Food Industry
- Soups & Premixes
- Bakery
- Snacks
- Frozen Food
- Baby Food
- Meat Processing
- Potato Flakes for Animal Feed
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Sales Channel
- Potato Flakes Sales via Hypermarkets/Supermarkets
- Potato Flakes Sales via Convenience Stores
- Potato Flakes Sales via Traditional Groceries
- Potato Flakes Sales via Online Retailers
Market Competition
Major players in the global market of potato flakes are 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, and Oregon Potato Co. Some notable developments are as follows:
- In 2021, Agrico, agreed to set up a joint venture with Pune-based potato supply chain organization S.V. Agri to develop high-yield varieties uniquely suitable to India. The new joint venture, named S.V. Agrico Pvt. Ltd., will produce high-grade basic seed material under controlled conditions.
- MacCain Foods, a global leader in potato specialty products, announced the acquisition of Serya, a Brazilian food company. This acquisition will enable McChain to expand its boundaries in the Brazilian market. Serya provides pre-formed specialty potato products in Brazil.
is likely to benefit from the expansion of retail chains, both digital and physical, in combination with increasing product lines and product portfolios of established players. The retail sector witnessing a robust rise worldwide across various domains of consumer products, and potato flakes are no exception.
Click Here To get a Sample Report (Including Full TOC, Table & Figures):-https://www.factmr.com/connectus/sample?flag=S&rep_id=1510