changing consumer preference for healthier foods is driving the Potato Market
Technavio analyzes that the Potato Market is expected to grow at a CAGR of 3.39% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 22.98 billion.There are various factors that contribute to the growth of the market. The potato market is experiencing a significant shift as consumers increasingly prioritize healthier food options. This trend is driven by growing awareness of the importance of nutrition and wellness. As a result, demand for potatoes with lower glycemic index and those rich in essential vitamins and minerals is on the rise. Producers and retailers are responding by offering a wider range of health-conscious potato varieties and preparations. This shift is expected to continue shaping the potato market in the coming years.
In the global potato market, individual consumers play a pivotal role in shaping industry trends. Market segmentation by end-user is crucial for catering to diverse consumer needs. Processed potato products, such as French fries and potato chips, are popular choices in North American and European markets due to their convenience and versatility. These items offer essential nutrients like Vitamin B6, fiber, magnesium, and antioxidants. Advanced machineries ensure extended shelf life and maintain the nutritional value of these products. Understanding these preferences and providing quality, nutritious offerings is key to success in the global potato market.
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Potato Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The Potato market encompasses various potato products such as fresh potatoes, chilled potatoes, French fries, potato crisps, hash browns, potato wedges, and sliced potatoes. These derive from raw potatoes, which are rich in nutrients like Vitamin B6, fiber, magnesium, and antioxidants. Processed potato items include fast food offerings and home-cooked meals. Staples like Rice, Wheat, and Potatoes differ in shelf life, with potatoes requiring careful handling to maintain freshness. The industry also focuses on producing healthier, low-fat, and low-sodium alternatives using Andes as a base for starch production.
The potato market is a significant segment of the global packaged foods and meats market, which falls under the food products sector of the broader food, beverage, and tobacco industry. This market encompasses manufacturers and food processing vendors engaged in food processing to ensure food safety and extend product shelf life. Technavio's market analysis calculates the size of the global packaged foods and meats market based on the consolidated revenue of the participating vendors. It is essential to note that this market excludes manufacturers of food processing equipment and packaged alcoholic and non-alcoholic beverages, including mineral waters. Key products in the potato market include fresh potatoes, chilled potatoes, starch, French fries, and potato crisps.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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