The global Potato Granules market is expected to witness a market value of US$ 5.5 Billion in 2023 and is expected to accumulate a market value of US$ 9.2 Billion by registering a CAGR of 5.1% in the forecast period 2023 to 2033. The Potato Granules market registered a CAGR of 2.9% in the historical period 2018 to 2022. Factors such as the increasing demand for convenience food, snacks, and other processed food products, as well as the growing popularity of gluten-free and clean-label food products, are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Potato Granules has been flourished. The demand for potato granules is growing rapidly due to the increasing demand for convenience food. With the busy and fast-paced lifestyles of consumers, there is an increasing demand for convenience food products. Potato granules are widely used as an ingredient in instant mashed potato mixes, snacks, soups, and other convenience food products.
Furthermore, the rising popularity of potato-based snacks is one of the major factors that is expected to accelerate the market growth during the forecast period. Potato-based snacks such as potato chips and fries are gaining popularity among consumers globally. Potato granules are used in the production of these snacks to enhance their texture, taste, and shelf life.
The food industry is witnessing significant growth, driven by factors such as urbanization, increasing disposable income, and changing lifestyles. Potato granules are widely used as an ingredient in various food products, including bakery, snacks, and soups, which is turn are fueling their demand in the food industry.
Additionally, potato granules are a good source of nutrients such as fiber, vitamins, and minerals. They are also gluten-free, which makes them suitable for consumers with gluten intolerance. The growing awareness of the health benefits of potato granules is a major factor that is likely to stimulate the market growth in the near future.
Besides, the development of new technologies for the production of potato granules is improving their quality and expanding their applications in various industries. Innovative technologies such as spray drying and extrusion are improving the efficiency of potato granules production, which is driving their adoption in various industries.
On the regional end, the Potato Granules market in North America is expected to account for the maximum share during the analysis period. Factors such as the rising popularity of potato-based snacks, and health benefits of potato granules, are anticipated to escalate the regional market growth.
On the other hand, the Potato Granules Market in Europe is witnessing significant growth in recent years. The regional market growth is driven by factors such as the increasing demand for potato granules from the food industry and from other industries such as personal care & pharmaceuticals. The growing trend towards healthy and natural food ingredients is also expected to drive the adoption of potato granules in Europe.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Potato Granules are expected to create lucrative opportunities for the market growth over the analysis period. For instance,
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 5.5 Billion |
| Projected Market Value in 2033 | US$ 9.2 Billion |
| Growth Rate (2023 to 2033) | 5.1% CAGR |
The global sales of potato granules are expected to witness growth over the forecast period. On a global basis, the potato is the fourth most important world food crop. Potato as a portion of food is most important in the cooler regions of the world. Potato granules are great to thicken up soups, stews, and gravy items.
Many food manufacturers are increasingly using potato granules as food ingredients or additives. It is used as a thickening agent in a range of cuisines, including snacks, soups, curries, and other dishes Potato granules are added to bakery items such as biscuits, pancakes, bread, muffins, cookies to improve the texture and a softer mouth feel. Potato granules have the same consistency and texture as freshly made mashed potatoes.
It's used in potato snacks, instant mashed potatoes, fish and meat coatings, breading, soups, sauces, and gravies, bakery items, and pet food. For both economy and consistency, potato granules are frequently the product of choice for hospitals, restaurants, schools, nursing homes, and other similar institutions.
Manufacturers also get revenue from the waste produced in making potato granules are used as animal feeding due to these wastes contain high energy and low in protein.
The USA is one of the key markets for potato granules worldwide. Potato granules have increased exports in the last decade. The USA is the fourth largest country in the world in potato production. The USA is exporting potato granules to Canada, Japan, Mexico, and other Asia countries.
It is used in gluten free baked goods to improve the browning a color development. United States potato granules are in increased demand due to away-from-home food consumption, rapidly expanding fast-food sector, changing labor force composition.
In Canada, potato granules are used to make fresh French fries with the help of water at the ratio of 1:2.6. The consumption of French fries in this region is kept rising over the past decade. With the advantage that French fries can make at any time with potato granules, the consumption of potato granules is kept on-demand in Canada in the assessment period.
More potatoes are currently being processed in Europe to accommodate increased demand from the fast food, snack, and convenience food industries. In bakery products soups, sauces, ready-to-eat meals, and other processed food products, potato granules are used to increase the shelf life of products.
Potato granules are increasing in demand in Europe due to an increase in the consumption of bakery products. These are the key factors for increasing demand for potato granules in Europe in the assessment period.
Some key manufacturers functioning in business in potato granules market includes
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Potato Granules Market
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