Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Dehydrated Potato market.
Trusted Business Insights presents an updated and Latest Study on Dehydrated Potato Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Dehydrated Potato market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global dehydrated potato market size was USD 5.23 billion in 2018 and is projected to reach USD 8.84 billion by 2026, exhibiting a CAGR of 6.83% during the forecast period (2019-2026).
We have updated the Dehydrated Potato Market with business impact analysis and disruption caused by COVID-19.
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Potatoes are a great source of potassium, carbohydrates, and vitamins. Dehydration is a process through which the fresh potatoes are dried and dehydrated completely by removing the moisture content, and by retaining the nutritional value. Dehydrated potatoes, also called as instant potatoes, are one of the widely used processed food products in various countries. Consumers prefer dehydrated potatoes as they are easy to digest as compared to the fresh potatoes. It also has a neutral taste and flavor, until they are further processed for flavoring. There are various dehydrated vegetables available in the market, but dehydrated potatoes are the most economic one. It has various nutritional ingredients such as manganese, vitamin B6, niacin, vitamin C, phosphorus, and pantothenic acid.
The dehydrated potato market growth is primarily driven by certain important factors, such as rise in the popularity of dehydrated potatoes for its taste, longer shelf-life and all seasonal availability, increase in the preference towards convenience food products, and rising demand for processed food products. These are certain drivers that are helping the growth of this market.
Exponential Growth of Convenience Food Products to Boost the Market
There is a growing trend for ready-to-eat (RTE) food products, which acts as a major key driver for the dehydrated potatoes. Growing GHDI (Gross Household Disposable Income) of consumers and rapid urbanization has enhanced the expenditure towards processed and ready-to-eat food products. Rising demand for these food products is furthering the demand for dehydrated potatoes. Consumers are exploring creative ways to utilize these instant potatoes for various culinary purposes. They are also used to make meat products crispier and also add consistency and texture to the food products.
Dehydrated potatoes are rich in carbohydrates and other imperative minerals, which will ride the coattails of shifting the consumer preference towards the consumption of healthy food and beverage products.
Escalating Demand for Dehydrated Potatoes from the Processed Food Industry
Significant usage of these instant potatoes in baked products, sauces, soups, and other processed food products is expected to drive the growth of this market. These dried potatoes possess various properties that are useful for culinary purposes. For example, they act as a thickener base for the preparation of soups and gravies. Further, they find application in the manufacturing of various potato snacks, chips, texturized potato products, snack pellets, and others, which is one of the leading dehydrated potato market trends.
The burgeoning demand for dehydrated potatoes is from the processed food industry, owing to its longer shelf life and its availability throughout every season. On the other hand, instant potatoes are used as an alternative for corn flour, wheat starch, and wheat flour as they help to add volume to soups, stews, broths, and sauces. Increasing demand for dehydrated potatoes in the global food industry is expected to create growth for the same.
By Form Analysis
Powder Form to Lead Owing to its High Demand from Foodservices
Globally, the powdered dehydrated potatoes are consumed more when compared to the other types, as they are easy to digest. They are rich in fiber content when compared to flakes and other forms, which will aid in body fat reduction. Owing to their easy digestive properties, these powdered potatoes are popular among the elderly/old aged people. The consumption of these powdered dehydrated potatoes will also help in hair growth and also helps treat premature greying. There is a high amount of vitamin C present in these powdered forms of dried potatoes, which helps in boosting the immune system. Moreover, it contains a compound called flavonoid which regulates the cholesterol levels in the body.
By Nature Analysis
Conventional Segment to Hold the Bulk of Market Share; Organic Dehydrated Potato Sales to Skyrocket
In the food sector, the pace of technology penetration has been recently observed to be robust, forcing the food manufacturers to boost their development for new and novel products. A wide range of applications has led commercial vendors to provide dehydrated potatoes in their purest form. Efforts of key market players are directed towards new product developments, along with unique and innovative product offerings, in order to gain a greater brand positioning. This will remain as a key demand determinant for dehydrated potatoes.
The conventional dehydrated potatoes segment hold the major share of 70% and is expected to prevail in the foreseeable years. The organic dehydrated potatoes segment is still in infancy and will gain fast ground in the upcoming years owing to the consumer preference towards natural and chemical-free food products. The concept of organic farming has hugely impacted farming practices, which is a major reason for the fast growth of organic dehydrated potatoes. According to USDA, the total land availability for organic farming has been increased rapidly in the U.S. This is further expected to create demand for dehydrated potatoes.
By Distribution Channel Analysis
Foodservices to Hold the Largest Market Share Owing to the All Seasonal Availability of the Product
The dehydrated potato market demand is expected to grow due to the expanding foodservice sector, in combination with the increased product portfolio and product lines of leading players in the market. The foodservice sector prefers the usage of dehydrated/dried potatoes as they are always available, irrespective of the season and climate. The longer shelf life makes them even more convenient for usage.
These potatoes mimic the properties possessed by starch as it acts as a thickener and a stabilizer. This makes it a better option when compared to starches, which are slightly more expensive.
Asia-Pacific to Exhibit Exponential Growth: Increasing Population Likely to Accelerate Demand
Asia-Pacific will remain the mainstay for instant potatoes manufacturers as the region is the leading producer, supplier, importer, and exporter of the major raw material. In the region, China is expected to hold the largest dehydrated potato market share as it is the largest producer of potatoes in the world. Followed by China, India holds the second-largest market share in the region. These two countries are the major producers of potatoes, which helps in the production of dehydrated potatoes. Further, the growth opportunities for the dehydrated potatoes are huge in the region and also account for a large demand from the middle-class population and for nutrition-rich processed food consumption. Massive alterations in the lifestyle of the consumers in the region and players seeking to consolidate their position in the market are the key factors impacting the growth of the dehydrated potato market.
Companies in this region are transforming their production practices. The larger population base has led to the large-scale production of these dehydrated potatoes. Companies are adopting various modern technologies for the cultivation of potatoes in the region. Asia Pacific imports the best-quality potatoes from other countries to strengthen and to maintain stability in the supply chain.
The processed food industry in the U.S. grows at a rapid pace which in turn aids in the growth of the North America dehydrtaed potatoes market. U.S. holds the largest market share in the region as the consumption of instant soups and salads are growing. The dehydrated potates are incorportaed largely in seasoning ingredients and sauces. The potato production in Canada is growing at a rate of 6.34% which helps in the growth of the consumption of dehydrated potatoes. 65% of the total potato production is consumed as a proceesed food, and the rest are used freshly.
The fast paced lifestyle and the increased presence of working population acts as a driving factor for the consumption of dehydrated potatoes.
KEY INDUSTRY PLAYERS
Key Players Focusing to Increase the Production Capacity by Collaborating with Other Companies
Dehydrated potatoes manufacturers are collaborating with other players in the market in order to increase the production capacity owing to the increased population. Companies are developing record-sized potato drying drums, which helps in increasing the production capacity, according to the dehydrated potato market analysis.
For instance, Kiremko and Idaho Steels have collaborated to build drum dryers which are powered provide a significantly larger output of dehydrated potatoes in lesser time.
Manufacturers are innovating the newest technologies in order to increase the production capacity of the dehydrated potatoes. Companies are innovating drum dryers not only to mash the potatoes but to mill and mash it to the desired form such as flakes and powder.
List Of Key Companies Covered:
- McCain Foods
- Basic American Foods
- Lamb Weston
- Idahoan Foods
- Pacific Valley Foods
- Augason Farms
- Idaho Supreme Potatoes
- Birkamidon Rohstoffhandels GmbH
- J.R. Short Milling
- Rixona B.V.
Dehydrated potatoes are one of the major processed vegetables that are consumed when compared to the other vegetables. The market is estimated to grow moderately throughout the forecast years, owing to the increased inclination towards other dehydrated vegetables, whereas the market in the developing regions is expected to maintain stability.
The dehydrated potato market report provides qualitative and quantitative insights on the dehydrated potato market and a detailed analysis of the market size and growth rate for all possible segments in the market.
Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, and key industry trends.
Report Scope & Segmentation
By Distribution Channel
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, U.K., Spain, Italy, Russia, and Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, and Rest of Asia-Pacific)
- South America (Brazil, Argentina, and Rest of South America)
- Middle East & Africa (South Africa, UAE, and Rest of the MEA)
In April 2019, McCain Foods acquired Serya, which is a Brazilian food company. This acquisition will help the company serve and make a domestic presence in the country. It also helps the company to expand its boundaries.
In March 2017, Rixona B.V. started a new production facility in the Gansu Province in China. This is to serve the high demand for dehydrated potatoes in the country. The company expanded its production to 15,000 MT annually.
Quick Read Table of Contents of this Report @ Dehydrated Potato Market Size, Share & Industry Analysis, By Form (Flakes, Powder, Dices, Shreds, and Others), Nature (Organic and Conventional), By Distribution Channel (Food Services and Retail Channel), and Regional Forecasts, 2020 -2029-(Includes Business Impact of COVID-19)
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