The global market value for potato flakes was USD 21,328.3 Mn in 2022, with a compound annual growth rate (CAGR) of 5.3% projected from 2022 to 2032. In the potato processing sector, potato flakes account for 20% of the market share.
Increased launches and development of major potato flakes brands are expected to drive the potato flakes market’s overall growth. Leading manufacturers are working on increasing their footprint outside of the United States. The increased entry of established producers ensures a competitive market setting, resulting in the production of different variations in potato goods, which is expected to drive total market growth.
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Increased launches and development of major potato flakes brands are expected to drive the potato flakes market’s overall growth. Leading manufacturers are working on increasing their footprint outside of the United States. The increased entry of established producers ensures a competitive market setting, resulting in the production of different variations in potato goods, which is expected to drive total market growth.
Key Takeaways from Potato Flakes Market Study
· According to FMI study’s on the potato fakes market, a large consumer base is looking for products that are naturally sourced. Potato flakes are generally used in dishes that require mashed potatoes. Potato flakes are used as a thickener or base for the preparation of ready-to-eat vegetable gravies and soups. They are also used as an ingredient for potato chips, texturized potato products, snack pellets, etc. Thus, the demand for Potato Flakes is surging.
· The global potato flakes market has been segmented based on end-use, where the buyer to consumer segment holds the major share. However, in the upcoming period, the buyer to buyer segment is estimated to show a positive growth due to its increasing applications in different food products.
· Based on nature, the global potato flakes market is segmented into organic and conventional types. Due to growing health concern, consumers are looking for products that are grown naturally and are free from chemicals and are not genetically modified.
· Eastern Europe and APEJ are expected to lead the global potato flakes market in terms of value. The demand for potato flakes is considerably high in North America. Western Europe is predicted to show a high growth rate in the forecast years. The Latin America market, dominated by Brazil, is also exhibiting high demand for potato flakes.
Who is winning?
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., Bob’s Red Mill Natural Foods are some of the key market players.
Leading companies operating in the potato flakes market are aiming at regional expansion via targeting the local distributers to upscale their potato flakes sales and to provide high-quality products to the customers.
· In March 2018, Nestle S.A. opened a new quality assurance lab in Araras, Brazil. The move was intended to enhance the company’s organic product portfolio in the region. The company invested around US$ 6.9 Mn to construct the new facility. The quality assurance facility will ensure that its organic products are free from pesticides and genetically-modified organisms.
· In April 2018, McCain Foods Limited completed a strategic investment with a highly innovative agriculture company, TruLeaf Sustainable Agriculture. With this partnership, the company is expected to set new standards for efficient crop production and environmental care.
· In 2017, Lamb Weston Holdings, Inc. expanded its Richald Washington plant by 2, 90,000 square feet, increasing its production capacity by approximately 300 million pounds annually.
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Potato Flakes Market by Category
By Product Type, Potato Flakes Market is Segmented as:
· 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
· Meat Processing
· Animal Feed
By Region, Potato Flakes Market is Segmented as:
· North America
· Latin America
· Europe
· East Asia
· South Asia
· Oceania
· Middle east and Africa
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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