According to newly published report by Transparency Market Research, titled 'Dried potatoes Market: Global Industry Analysis and Opportunity Assessment 2018-2027', the overall revenue generated from the global dried potatoes market is anticipated to be valued at somewhere around US$ 2,484.4 Mn in 2018, which is expected to rise at a CAGR of 3.5% throughout the forecast period (2018-2027).
Potatoes is one of the most popular dried vegetables usually popular as flakes and also consumed as snacks. According to FAO data, less than 50% of potatoes are consumed fresh and rest is processed to value-added products and dried potatoes. Dried potatoes have a plethora of applications in the food processing industry and food service industry and retail use. In the global dried potatoes market, North America accounts for the highest consumption of dried potatoes owing to factors like urbanization, increased working women population. In addition, North America also holds a major share in dried potatoes production.
Growth in Demand for Convenience Food
The convenient food products quest is flourishing due to the increased value of time and increased disposable income. Busy lifestyle and hectic schedule led people to seek convenient food products which are easy to use, ready to eat, fast in cooking and longer shelf life. The potatoes can be dried by various advanced drying techniques which enables it to fulfill the criteria for convenient food products.
Some of the most favored vegetables in the dehydrated format are onions, broccoli, potatoeses, and tomatoes, which have wide availability and easy-to-cook features. Most of the vegetables can be processed with the help of dehydration technology, which preserves the nutritional contents and maintains the texture and taste of the vegetable for a longer period of time. These features increase the market due to the convenience factor.
Robust growth of food processing industry is also fueling the demand for dried potatoes owing to its multiple uses in the processed foods. Many new players are also showing their interest in dried potatoeses due to the increasing demand for convenient food products. Due to increasing demand the dried potatoeses, are widely occupying the aisle at hypermarkets, supermarkets, retailers and in households also.
Increasing Consumption of Processed Potatoes
Changing potatoes consumption pattern among the population is gaining the attention of manufacturers to bring dried potatoeses in their product portfolio. According to FAO data, less than 50% of potatoeses are consumed fresh and rest is processed to value-added products and dried potatoes. Increasing attractiveness of processed potatoeses among the consumers due to its wide application in various dishes and culinary, owing to its binding and thickening ability in food products. The high starch content of dried potatoes gained the attention to use dried potatoes powder as a binding agent in processed meat. In addition, dried potatoeses are also used as a thickening agent in soups and other food products.
According to our research, it is estimated that North America holds 28.1% of value share in the global dried potatoes market over the forecast period. The increased presence of dried potatoes producers in developing economies has made the dried potatoes market more competitive by more convenient delivery of their products, innovative product launch, and global expansion, high quality certified products in the dried potatoes market. Some of the key players operating in the global dried potatoes market are Kiremko B.V., Naturex S.A., Olam International, Symrise AG, Mercer Foods, LLC. Limited, and others. Food manufacturers and food service providers are showing their keen interest in using dried potatoes, which is expected to fuel the demand for dried potatoes in the coming future.
Transparency Market Research,