Mashed Potatoes Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Food Ingredient, Food Product (Snacks, Culinary)), By Form (Powder, Solid), By Distribution Channel (Foodservice, Retail), And By Geography - Forecasts From 2022 To 2027
- Published : Jan 2023
- Report Code : KSI061610469
- Pages : 154
The mashed potatoes market is projected to witness a compounded annual growth rate of 6.46% to grow to US$4,607.552 million by 2027, from US$2,973.502 million in 2020.
The prime reason driving the market growth is the growing hectic lifestyle and increasing consumption of packed food. Mashed potatoes are a good source of starch and carbohydrate and are generally eaten as food additions and sides. Rising multi-cuisine culture coupled with a preference for a balanced diet is raising the consumption of mashed potatoes. Furthermore, an increase in the geriatric population and growing dental and digestion problems have further increased the market demand for that age group. Moreover, the booming hotels, restaurants, and catering (HoReCa) industry have led to a rise in the need for quick services, which has inculcated the adoption of packed and frozen food and hence serving mashed potatoes. However, lower shelf life and increasing consumption of fresh and organic food have the potential to hinder market growth during the forecasted period.
The increasing geriatric population having dental and digestion problems find the consumption of mashed potatoes easier, which also fulfills the requirement of nutrients and is projected to drive significant market growth during the forecasted period.
World Bank Database shows that the population aged above 65 years is growing significantly. The population has grown from 523.579 million in 2010 to 722.133 million in 2020. This population is further expected to increase to 1.5 billion by 2050. The proportion is expected to increase from 9.26% in 2020 to 15.79% in 2050. The growing geriatric population is predicted to increase the cases of dental and digestion problems, which is anticipated to drive market growth. Aged people with dental problems find it difficult to chew and digest solid food items. Thus, these patients turn to the consumption of masted and paste food items for fulfilling the required nutrition. Since potatoes are rich in glucose and carbohydrate, it becomes a preferable food product to be consumed to maintain the required diet. Moreover, the digestion of potatoes is easy, which gives a greater advantage to the mashed potatoes market. Furthermore, easy availability further supports the market prospects.
The booming HoReCa industry is increasing the adoption of packed and frozen food products for providing faster delivery, leading to the increasing adoption of mashed potatoes and hence driving growth in the global market.
Another prime reason contributing to the robust growth in the global mashed potatoes market is the lucrative acceleration in the HoReCa industry. The HoReCa industry is one of the key end-users of the mashed potatoes industry. The booming demand for quick service within the HoReCa industry has increased the adoption of packed and frozen food products, leading to the increasing adoption of mashed potatoes. Furthermore, the cost-effectiveness of using mashed potatoes in the industry also supports the market scope.
Moreover, the increasing multi-cuisine trend has increased the consumption of mashed potatoes. American and European cuisine, in particular, have supported the market prospects since mashed potato is an essential and integral part of these dishes. Further, increasing dining and restaurant culture has opened up new opportunities for the market. Also, the hectic lifestyle and tedious work culture in today’s world have increased the consumption of frozen and packed food by the youth. Increasing food trends provide significant opportunities. Increased potato consumption also plays a significant role. Data from FAOSTAT shows that potato consumption increased to over 32.3 kg per person globally in 2019, and 26 kg in the early 2000s. Europe is the prime consumer of potatoes and mashed potatoes globally.
The application of mashed potatoes as a food product dominates the market and is projected to increase its share during the forecasted period.
Based on application, the global mashed potato market is segmented into food ingredients and food products. It is anticipated that the application of mashed potatoes as a food product will dominate the global market during the forecasted period. Mashed potatoes are also consumed with chips, nachos, and other snacks, such as sides, dressings, or dips, for better taste and healthier meals. Increasing snacking habits, along with the rising consumption of fast food and junk food, have supported the market growth of mashed potatoes. Furthermore, mashed potatoes are also consumed in salads to balance the diet, owing to increasing health and diet consciousness, supporting the market.
North America and the European region are projected to dominate the market during the forecasted period.
Based on geography, the global mashed potatoes market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific region. North America and the European region are anticipated to grow at a lucrative rate and dominate the global market owing to wider adoption and regional cuisine that includes mashed potatoes as sides and dressings. The Asia Pacific mashed potato market is projected to grow at a significant rate owing to the increasing popularity of multi-culture cuisine.
Covid-19 Impact on Mashed Potatoes Market
Covid-19 Pandemic has positively impacted the overall market growth as the demand for potatoes has driven worldwide in supermarkets and grocery stores people were stocking up on inexpensive food. Moreover. Potatoes are the third most important food crop after rice and white in terms of human consumption because of which it can be said that their demand will rise in the coming years as well.
Mashed Potatoes Market Scope:
|Market Size Value in 2020||US$2,973.502 million|
|Market Size Value in 2027||US$4,607.552 million|
|Growth Rate||CAGR of 6.46% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Application, Form, Distribution Channel, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Hungry Jack's, Pomuni, Unilever Food Solutions, Post Holdings, Inc., Agristo, McCain Foods Limited, Idahoan Foods LLC, Hormel Foods, LLC|
|Customization Scope||Free report customization with purchase|
- By Application
- Food Ingredient
- Food Product
- By Form
- By Distribution Channel
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. MARKET OVERVIEW
1.2. COVID-19 IMPACT
1.3. MARKET DEFINITION
1.4. SCOPE OF THE STUDY
1.8. BASE, AND FORECAST YEARS TIMELINE
2. RESEARCH METHODOLOGY
2.1. RESEARCH DESIGN
2.2. SECONDARY SOURCES
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1.1. INCREASED CONSUMER AWARENESS DUE TO HECTIC LIFESTYLE, DIGITALIZATION, AND RISING GERIATRIC POPULATION
4.1.2. GROWING HORECA INDUSTRY AND DEMAND FOR FROZEN AND PACKED FOOD
4.2.1. FLUCTUATIONS IN POTATO PRICES
4.2.2. POTATO PRODUCTION AND STORAGE-RELATED PROBLEMS
4.3. PORTER’S FIVE FORCES ANALYSIS
4.3.1. BARGAINING POWER OF SUPPLIERS
4.3.2. BARGAINING POWER OF BUYERS
4.3.3. THREAT OF NEW ENTRANTS
4.3.4. THREAT OF SUBSTITUTES
4.3.5. COMPETITIVE RIVALRY IN THE INDUSTRY
4.4. INDUSTRY VALUE CHAIN ANALYSIS
5. MASHED POTATOES MARKET BY APPLICATION
5.2. FOOD INGREDIENT
5.3. FOOD PRODUCT
6. MASHED POTATOES MARKET BY FORM
7. MASHED POTATOES MARKET BY DISTRIBUTION CHANNEL
8. MASHED POTATOES MARKET BY GEOGRAPHY
8.2. NORTH AMERICA
8.2.1. UNITED STATES
8.3. SOUTH AMERICA
8.4.3. UNITED KINGDOM
8.5. MIDDLE EAST AND AFRICA
8.5.1. SAUDI ARABIA
8.6. ASIA PACIFIC
8.6.3. SOUTH KOREA
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. MAJOR PLAYERS AND STRATEGY ANALYSIS
9.2. EMERGING PLAYERS AND MARKET LUCRATIVENESS
9.3. MERGERS, ACQUISITIONS, AGREEMENTS, AND COLLABORATIONS
9.4. VENDOR COMPETITIVENESS MATRIX
10. COMPANY PROFILES
10.1. HUNGRY JACK’S
10.1.2. PRODUCTS AND SERVICES
10.2.2. PRODUCTS AND SERVICES
10.2.3. KEY DEVELOPMENTS
10.3. UNILEVER FOOD SOLUTIONS
10.3.2. PRODUCTS AND SERVICES
10.3.4. KEY DEVELOPMENTS
10.4. POST HOLDINGS INC.
10.4.2. PRODUCTS AND SERVICES
10.5.2. PRODUCTS AND SERVICES
10.5.3. KEY DEVELOPMENTS
10.6. MCCAIN FOODS LIMITED
10.6.2. PRODUCTS AND SERVICES
10.6.3. KEY DEVELOPMENTS
10.7. IDAHOAN FOODS LLC
10.7.2. PRODUCTS AND SERVICES
10.7.3. KEY DEVELOPMENTS
10.8. HORMEL FOODS, LLC
10.8.2. PRODUCTS AND SERVICES
10.8.4. KEY DEVELOPMENTS
UNILEVER FOOD SOLUTIONS
POST HOLDINGS INC.
MCCAIN FOODS LIMITED
IDAHOAN FOODS LLC
HORMEL FOODS, LLC
|Report Name||Published Month||Get Sample PDF|
|Nutraceuticals Market Size & Share: Industry Report, 2019-2024||May 2021|
|Packaged Beverage Market Size & Trends: Report, 2019-2024||Jun 2021|
|Diabetic Food Market Size & Share: Industry Report, 2022–2027||Jul 2022|
|Global Low Calories Food Market Size: Industry Report, 2022 – 2027||Jul 2022|