U.S. Processed Potato Market size was estimated at $20 billion in 2020, growing at a CAGR of 5.2% during the forecast period 2021-2026. A potato is a popular and widely consumed vegetable in many countries throughout the world. Potatoes are commonly employed in most packaged food preparation due to their high protein, flour, and carbohydrate content. Dehydrated potatoes, frozen meals, processed meals, and snacks such as French fries are among the most popular processed potato items. Potatoes are used to make potato food products and food ingredients. Every year, more than half of all potatoes are used in potato processed products. It is used in the manufacturing of dehydrated potato flakes, french fries, potato granules, potato starch, animal feed, food ingredients, and as a starch source for vodka or alcohol. An increasing number of quick service restaurants in U.S. coupled with growing consumption of processed potato products are the major factors driving the growth of the market. Changing lifestyle of the people and rising disposable income of consumers are set to further enhance the overall market development of the U.S. Processed Potato Market for the period 2021-2026.
U.S. Processed Potato Market Segment Analysis – By Type
Based on type, the U.S. processed potato market is segmented into Dehydrated, Frozen, Chips & Snack Pallets, and Others. Frozen held the largest share in the U.S. processed potato market in 2020. Frozen potato products are mostly popular and consumed in U.S., owing to increased demand for french fries offered in restaurants and fast food chains in this region. Quick Service Restaurants (QSRs) such as KFC, Pizza Hut, and McDonald's are expanding in the United States thereby increasing U.S. processed potato market. However, Chips & Snack Pallets is estimated to register higher CAGR of 6.4% during the forecast period 2021-2026 owing to ease of availability and increasing popularity of potato chips among young generation.
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U.S. Processed Potato Market Segment Analysis – By Application
Based on application, the U.S. processed potato market is segmented into Ready to Cook and prepared Meals, Snacks, and Others. Ready to Cook and prepared Meals held the largest share in the U.S. processed potato market in 2020. Rising preference for convenience food products among the consumers coupled with, changing eating habits and hectic work schedules thereby increasing U.S. processed potato market. However, Snack is estimated to register higher CAGR of 6.2% during the forecast period 2021-2026 owing to growing popularity of potato based snacks with low carbs, low salt, air-dried, baked products in variety of flavours.
U.S. Processed Potato Market Segment Analysis – By Distribution Channel
Based on distribution channel, the U.S. processed potato market is segmented into Retail, and Food Service Centres. Food Service Centres held the largest share in the U.S. processed potato market in 2020. Food Service Centres are gaining importance owing to rise in growth of food delivery channels and increasing demand for fast food products in this region thereby increasing U.S. processed potato market. However, retail is estimated to register higher CAGR of 5.9% during the forecast period 2021-2026 owing to availability of number of products under one roof.
U.S. Processed Potato Market Drivers
Increasing Consumption of Processed Food Products.
Increasing demand of processed food products among the people is increasing the growth of the U.S. Processed Potato Market. Changing eating pattern of consumers and hectic lifestyle of the people thereby increasing the growth of the U.S. Processed Potato Market during the forecast period 2021-2026.
Rising Demand of Ready-To-Eat Food Products.
Increasing demand for ready-to-eat food products among consumers is increasing the growth of the U.S. Processed Potato Market. Rapid growth in fast food sector and rising disposable income of the people thereby increasing the growth of the U.S. Processed Potato Market during the forecast period 2021-2026.
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U.S. Processed Potato Market Challenges
Health Issues
The major factor that is set to impede the growth of the U.S. Processed Potato Market is increasing health issues such as obesity and diabetes owing to consumption of processed potatoes. Another factor which hamper the growth of market is availability of alternative products in the market.
Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the U.S. Processed Potato Market. In 2020, the U.S. Processed Potato Market share is consolidated by the top ten players present in the market. The U.S. Processed Potato Market, top 10 companies are, McCain Foods Limited, Lamb Weston Holdings, Inc., The Kraft Heinz Company, J.R. Simplot Company, Idahoan Foods, LLC, PepsiCo, R. Short Milling Company, Calbee, Inc., The Little Potato Company, and Herr Foods Inc.
Recent Development:
In October 2019, McCain Foods USA invested $300 million in expanding its potato processing factory in Othello, Washington. This will enhance McCain Foods North American’s production capacity.
Key Takeaways
U.S. Processed Potato Market is increasing in 2020 owing to the increasing spending capacity of the people coupled with rising demand for processed food products owing to hectic lifestle. The U.S. Processed Potato Market scope for different regions will be provided in the final report.
Increasing trends towards ready-to-eat food produts set to aid the market growth of the U.S. Processed Potato Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the U.S. Processed Potato Market report.
Increasing health issues such as obesity and diabetes owing to intake of processed potatoes is poised to create the hurdles for the U.S. Processed Potato Market.
Related Reports
A.Potato Chips and Crisps Market
https://www.industryarc.com/Report/16648/potato-chipscrisps-market.html
B.World Sweet Potato Starch Market
https://www.industryarc.com/Research/2016-2024-World-Sweet-Potato-Starch-Market-Research-513331
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