The global potato
flakes market was valued at US$ 17,103.8 Mn in 2019. The market has
exhibited a considerable rise during 2013 -2018 and the trend is likely to
continue as the market exhibits a CAGR of 7% between 2019 and 2029. The rising
demand for snacks that among all age groups is aiding the growth of the market.
Increasing launches and development of major brands of
potato flakes are anticipated to drive the overall growth of the potato flakes
market. Leading manufacturers are focusing on expanding their footprint in
regions apart from the U.S. Increasing penetration of established manufacturers
ensures a competitive market scenario, and results in the launch of numerous
variation in potato products that is estimated to push the overall market
growth. Additionally, due to the increasing penetration of social media
platforms, customers have awareness about several international brands.
Manufacturers in the market including Bob’s Red Mill and McCain Foods Limited
are well-known for their premium products, including potato flakes. These
brands pay substantially on branding and advertisements via online and other
channels, and therefore. Their marketing strategies are key drivers of potato
flakes sales.
“The rising demand for extruded snacks as well as bakery
products is anticipated to boost the market for potato flakes in the forecast
period. Key players are adopting diverse strategies to maintain a strong
foothold in the potato flakes market.” says an FMI analyst.
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.
Find More Valuable Insights into Potato Flakes Market
The global potato flakes market is segmented in detail to
cover every aspect of the market and present complete market intelligence to
readers.
End Use
- 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
Nature
- Organic
- Conventional
Region
- North
America
- Latin
America
- Western
Europe
- Eastern
Europe
- APEJ
- Japan
- Middle
East
- South
Africa
- Sub
Saharan Africa
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