The potato flake market is estimated to be worth US$ 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 US$ 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.
“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,” says an analyst at FMI.
Key Takeaways from the Potato Flake Market
- The potato flake market is anticipated to be US$ 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.
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. Some of the prominent companies in the market include Nestlé S.A., Bob’s Red Mill Natural Foods Inc., Idahoan Foods LLC, and McCain Foods.
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.
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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)
About Future Market Insights (FMI)
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.
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