Market Introduction: One of the world’s major food crops is potato, which produces a high amount of edible energy. Potato is a rich source of vitamin, iron, potassium and dietary fibre. Potato flakes, on the other hand, was derived by dehydrating the potato, so that it can be used in a various application and the nutrients present in a potato can be incorporated in various food products. The potato flakes are light and are very easy to digest. The potato flakes are also used as a replacement for various flour such corn flour, wheat flour etc. In a country such as India, potato flakes are used for various Indian delicacies like aloo bonda, fillings for samosa, dosa, aloo bhujia, aloo paratha, etc. Because of the earthy flavour of potato flakes are also used in baked goods such as bread, cakes, muffins etc.
Market Segmentation: Potato flakes market is segmented on the basis of packaging, end use, distribution channel, nature, and region. On the basis of packaging, the market is segmented into retail packaging and bulk packaging. Bulk packaging is mostly purchased by restaurants and hotels, whereas retail packaging is more purchased by the consumers for their household. The demand for potato flakes is more from the common consumers as potato flakes can be used as a thicking agent, which adds up the volume to soups, stews, sauces, and broths. On the basis of end use, the market is being segmented into HoReCa and household. On the basis of distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, speciality store and online stores. It is expected that supermarkets/hypermarkets will hold a relatively higher value and value share in the potato flakes market compared to other distribution channel. On the basis of nature, the potato flakes market is segmented into organic and conventional. The demand for organic potato flakes is on the rise, owing to rising number of health-conscious people across the globe.
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Market Regional Outlook: A regional segment for the market of potato flakes is divided into five different regions: Europe, Asia Pacific, North America, Latin America and MEA. Among these segment, North America is expected to be a leader of potato flakes market around the globe and is expected to dominate the market in the forecast period. In Asia Pacific region, countries such as India, China and Australia are the key market for potato flakes. India is generating a high revenue, as the country is world’s second largest producers of potato and consumer of potato flakes in the Asia Pacific region. In terms of revenue, Europe is also expected to be the second leading contributor in the potato flakes market, owing to higher consumption of bakery products.
Market Drivers: Consumer’s increasing demand for ready-to-eat snack foods which is easy to digest is playing a key role to drive the potato flakes market in the forecast period. Increasing opportunities in hotels and restaurant is also a key factor which is driving the global potato flakes market. Potato flake-based food products have a rich amount of fibre content which helps in the reduction of body fat. Potato flakes are very popular among old age people as it is very easy to digest, this factor is boosting the growth of potato flakes to a great extent. The potato flakes have an increased shelf life which does not affect the quality of the final product, which is also another key driving factor for the growth of potato flakes market. As potato flakes is a rich source of vitamin c, it helps to boost the immunity of the body. Furthermore, it contains flavonoid which keeps the level of bad cholesterol low, these factors are also going to drive the potato flakes market to a significant extent in the forecast period.
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Market Key Players:
Some of the key players in Potato Flakes market are Shiloh Farms, Bob’s Red Mill, Idahoan Foods, LLC. Augason Farms, Unified Grocers Inc., Oy Börje Norrgård Ab, Unilever, Emsland Group, Harveston Farms, Desai Brothers Ltd., Health Connection Wholefoods, Barry Farm Foods and McCain Foods Limited among others.