Potato Granules: Market outlook
Potato is essential to crop, which is widely used in the foodservice and food processing industries across the globe. The flavor and the versatility of the potato make it a popular food product among the population. The potato processing industry is witnessing a rapid boost in demand over the forecast period. The manufacturers are processing potatoes into dehydrated form, to extend the shelf life of the product and to enhance the efficiency and efficacy of the potatoes in various end-user applications. Potato granules are a result of the innovation in the potato processing industry that aims at improving the yield and productivity of potato in different end-uses. According to the Food and Agriculture Organization OF U.S., less than 50% of potatoes are consumed fresh, while the rest is processed into the dried format and value-added products. Potato granules are processed potatoes, obtained from the dehydration of the raw potatoes that have undergone the process of boiling and mashing. Potato granules are dense, free-flowing powder that rehydrates back when added back into boiling water. Potato granules are gaining wide acceptance and popularity in the food processing industry owing to higher shelf life and convenience of the product. Potato granules are used in a wide range of products ranging from snacks to meat products to RTD foods. Increasing demand for convenience food, growing market for processed food, and the popularity of potato among consumers are expected to drive the market for potato granules over the forecast period.
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Increasing Market for Convenience Food Coupled with the Versatility of Potato in Food Processing Industry is Paving the Way for Potato Granules
The fast-paced sedentary lifestyles have greatly influenced and altered the eating patterns and habits of the consumers. Consumers are shifting towards adopting round the clock snacking, convenience food, and ready-to-eat food and meals. The growing demand for consumer-driven processed and convenience food industry is the primary driver for the increasing market of potato granules, which are used to enhance the flavor, binding, and performance of the food products. Besides, the potato granules are finding wide market demand owing to its shelf life and easy storage capabilities that are overpowering the raw potatoes that have reduced shelf life and perishability. The potato granules market is also anticipated to witness a lucrative growth owing to the increasing branding and promotional activities done by the manufacturers, the big brands are using online retailing as the preferred channel for the marketing and distribution of the potato granules. Furthermore, the ever-increasing food processing industry and growing market prospects for foodservice providers, is again contributing to the growing demand for potato granules.
Potato Granules: Market Segmentation
On the basis of nature, global potato granules can be segmented as:-
On the basis of end use, global potato granules can be segmented as:-
- Food Processing Industry
- Soups, Sauces, and Gravies
- Bakery Products
- Meat Products
- R-T-D Food
- Frozen Food
- Food Service Providers
- Household/ Retail
On the basis of distribution channel, global potato granules can be segmented as:-
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Potato Granules: Key Players
Some the key players operating their business in the global potato granules market are Groupe Emsland, Rainy Day Foods, Agrawest Foods Limited, Meelunie B.V., Aviko, Birkamidon GmbH, Engel Food Solutions, Idaho Pacific Corporation, and Solan S.A. among others
Opportunities for Potato Granules Market Participants:
The supply chain of potato-based products, including potato granules, is well established with decent transportation facilities that ensure smooth and natural flow of product to the end-users. Existing supply models have aided potato granules to reach directly to the consumers without any hurdles. Easy accessibility and availability of potato granules due to the robust supply chain has provided a substantial market opportunity for its growth. Besides, online retailing has ensured proper branding and promotion of potato granules among different industries and users. North America and Europe are anticipated to account for the maximum market share of the potato granules attributed to the increasing market penetration of processed and dehydrated potato products in the market. Besides, intensive production capabilities and advance manufacturing technologies help manufacturers to upscale their production process and efficiency.
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