Snacking Trend to Boost Consumption of Processed Potato Products
Processed potato products are widely consumed across the world. Potato chips, french fries, and mashed potatoes are some of most consumed processed potato products. The snacking phenomena is rapidly gaining traction among millennials and younger generations. The younger generation prefers snacks which can be easily shared while spending time with their friends.
On the other hand, millennials, which are mostly a working population, are replacing meals with snacks due to their busy schedules. Millennials prefer the ease offered by ready-to-eat snacks instead of taking additional effort to prepare meals. Moreover, health conscious consumers show an increasing preference for healthy snacks such as organic potato chips, olive baked potato chips, baked sweet potato fries and others to meet their nutritional requirements.
Baked potato chips contain 14% fewer calories and 50% less fat than traditional potato chips, which makes them a healthier alternative that appeals to health conscious consumers. Additionally, premium snacks are creating a buzz in the world of snacking. Consumers are keen to try premium snacks as a result of the growing popularity of the premiumization trend. These products use unique ingredients, which is a major differentiating factor.
Potato chips with black truffle and premium salted potato chips are among premium snacks which are increasingly becoming consumer favorites. For instance, in March 2018, the Lamb Weston Holding launched a new product called seashore-style tater puffs, growing its potato puff product offerings category. This product is perfect for snacking as it can be either baked or fried, and is flavored with a blend of sea salt, black pepper, and garlic.
Find Out More about the Report Coverage
- McCain Foods Limited
- Lamb Weston Holdings, Inc.
- J.R. Simplot Company
- The Kraft Heinz Company
- Aviko B.V.
- AGRANA Beteiligungs-AG
- Farm Frites International B.V.
- Emsland Group
- Idahoan Foods, LLC
- Limagrain Ingredients
- Intersnack Group GmbH & Co. Kg
- The Little Potato Company Ltd.
- J.R. Short Milling Company
Unique Flavors and Attractive Packaging to Propel Sales
Processed potato products offering a wide variety of flavor combinations intrigue customers and boost sales of these products. Manufacturers have introduced processed potato products with different plant-based flavors and taste profiles to increase their respective consumer base as well as to diversify their offerings. Some of the most popular flavors are zesty style fries, garlic and black pepper fries, triple cooked chips with sea salt, and smoked BBQ. This wide range of flavors boosts consumption of processed potato products.
Moreover, the addition of flavors originating from different regions or countries to processed potato products attracts consumers and increases consumption of these products. Consumers from North America and Europe are showing an interest in Asian foods and flavorings. Asian snacks such as roasted sweet potatoes, sweet potato chips, poteko (potato rings), and others are becoming popular in European countries. Snacks with spicy flavors from the Indian subcontinent are also popular in these regions.
In May 2018, McCain Foods launched new shake-shake processed potato products with different flavors. Some of these flavors are shake-shake fries with smoked BBQ, frozen chips with chicken, salt, vinegar, and cheese.
Attractive packaging plays an important role in influencing the selection and sales of potato chips and snacks. Manufacturers are enhancing the appeal of their packaging as per new innovative trends such as social media, which boosts product sales. Frito-Lay, Inc. has adapted a packaging design inspired by Instagram to cater to its younger consumer base. These consumers are influenced heavily by social media and show a preference for products promoted through these mediums, which boosts the sales of its products.
Customize this Report
Explore Intelligence Tailored to Your Business Goals.
North America Accounts for 3/5th Share in Global Market
South and East Asia are anticipated to show a higher growth rate in the processed potato product market as a result of change in lifestyles and increasing disposable income, which propel demand for vibrant snacks with added flavor and taste.
Additionally, the growing trend of on-the-go consumption and sharable snacks is also expected to make a positive impact on the growth of processed potato products in these two regions. Higher economic growth rates in South and East Asia are anticipated to encourage manufacturers to target these regions.
According to PMR’s study, North America and Europe are estimated to hold ~ 60% of market value share in the global processed potato products market. Primary consumers of processed potato products are located mainly in North America and Europe.
French fries, mashed potatoes, and potato puffs are some of the products which have been consumed in these two regions for a long time. This has led the both Europe and North America to witness the prominent value share in global processed potato products market.
Despite representing the global processed potato products market with leading value share, the growth of market in North America and Europe is expected to restrain due to rising consumption of processed potato alternative products such as veggie fries, cereal-based snacks, and plant-based snacks.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
The global processed potato products market is evolving at a significant rate, with South and East Asia anticipated to witness the highest growth rate during the forecast period of 2019-2029. Evolution of marketing strategies targeting a diverse consumer base, development of products with unique textures and flavors, and attractive and easy-to-open packaging bolsters demand for processed potato products across the world.
Market players are increasing their investments in developing the more nutritional products to strengthen their market positions. Manufacturers may benefit from strategic geographical expansion in developing countries. However, the increasingly negative sentiments towards consumption of junk food could restraint the growth of processed potato products market.
Explore Persistence Market Research’s expertise in promulgation of the business !
Key Segments of the Global Processed potato products Market
PMR’s study on the global processed potato products market offers information divided into 4 important segments- type, application, distribution channel, and region.
Key Questions Answered in PMR’s Global Processed Potato Products Market
- Which region will have the highest market share in the global processed potato products market during the forecast period?
- Which region is experiencing the highest growth (CAGR)?
- Which factors are impacting the global processed potato products market?
- Which are the global trends impacting the processed potato products market?
- What strategies must the emerging players adopt to capture opportunities in various regions in the processed potato products market?
- What is the market structure of the global processed potato products market?