Fresh Potatoes Market Forecast, Trend Analysis and Competition Tracking - Market insights 2015 to 2031

Demand for Fresh Potatoes from 2015 to 2020 Vs. Future Market Projections for 2021-2031

From 2015 to 2020, sales of fresh potatoes have increased at a stable rate, expanding at over 2% CAGR.

Potatoes are also known as Solanum tuberosum L., are one of the most important roots and tuber crops, cultivated worldwide in more than 125 countries throughout Asia, Europe, the Americas, and Africa, and is consumed by more than a billion people on average. Potatoes are available in approximately 1,500 - 2,000 different varieties. Tuber skin varies from brownish white to deep purple, with white to yellow, along with purple. According to the Food and Agriculture Organization of the United Nations (FAO), potatoes are now the world's fourth most important food crop: maize, rice, and wheat. Potatoes are one of the most efficient crops in converting natural resources, labor, and capital into high-quality food. They can yield nutritious produce quicker on limited land and in harsher climate conditions than most crops. Additionally, it can be harvested after a mere 60 days.

Potatoes are a versatile, carbohydrate-rich food. When freshly harvested, it contains about 80% water and 20% base content. About 60 to 80% of this base content is starch. Potatoes are a moderate source of iron and have high vitamin C content. It is an excellent source of vitamins like vitamin B1, B3, B6 and minerals such as potassium, phosphorus and magnesium. Potatoes also contain dietary antioxidants, which play a crucial part in preventing diseases related to aging and dietary fiber beneficial to health. Some of the health benefits offered by potatoes include reducing inflammation, regulating blood pressure, improving brain and heart health, promoting sleep, and several dermatological benefits.

Global Fresh Potatoes Market Revenue Outlook:

The global fresh potatoes market is valued at US$ 163 Bn in 2020 and projected to register а САGR of about 2% by 2031.

The market is segmented based on product type, distribution channel and region. Based on the product type, the white potatoes are expected to hold a majority share and register a higher growth rate over the forecast period. Concerning the distribution channel, the supermarkets/hypermarkets segment is anticipated to dominate the market in the coming years.

Various health benefits of potatoes, including health benefits to all age groups, distinct flavor and texture, etc., are expected to boost fresh potatoes' demand. Agricultural marketing information is an essential function that facilitates marketing decisions and regulates competitive market processes and mechanisms. It is helpful to farmers in the planning, production and marketing of their commodities. It is also key to achieving operational and pricing efficiency in this system. The following are major alternative marketing systems applicable and adopted by the global fresh potatoes market—direct marketing, contract marketing, co-operative marketing, and forward & future marketing. Furthermore, various governments of developing economies initiate marketing-related government schemes and those created by public sector organizations, which benefit farmers.

The growth of the upper-middle-class population, rapid urbanization, increasing disposable income, and growing inclination towards westernized cuisine have increased fresh potatoes' popularity. In addition, women and senior citizens prefer good digestive health and physiological benefits of these functional foods, which subsequently reduce the risk of chronic diseases related to cardiovascular disorders and diabetes.

However, potatoes are considered a source of carbohydrates and may change the blood sugar and insulin levels. It may also cause overeating in some people, due to which some people may avoid overuse of potatoes. High marketing costs and margins, wide price fluctuations, bottlenecks in storage facilities, lack of long-term potato export policy, and lack of potato utilization avenues are also expected to hamper the growth of the global fresh potatoes market.

Global Fresh Potatoes Production (MMT), 2015-2019

Major Potato Producing (MMT) Countries, 2019

 Import-Export Analysis of Fresh Potatoes, under H.S. code 0701, 2016-2020

The import of fresh potatoes (H.S. Code – 0701) decreased by 13.8% in 2020 to reach a value of US$ 4.5 Bn, while the export decreased by 14.8%. Major importing countries in this category include Belgium, accounting for 13.1% of the total global imports. Belgium is followed by Netherlands, Spain, The U.S., and Germany. Major exporting countries of fresh potatoes include Netherlands, France, Germany, Canada and China.

Import (US$ ‘000) of Fresh Potatoes (H.S. Code – 0701) by Country, 2016-2020

Export (US$ ‘000) of Fresh Potatoes (H.S. Code – 0701) by Country, 2016-2020

Regional Analysis:

Asia-Pacific is anticipated to hold a significant share of the global fresh potatoes market. The region is also expected to register the highest growth rates over the forecast period. Increasing population, growing food industry in developed and developing economies in the region are expected to increase demand for fresh potatoes. The robust growth of food processing is also likely to provide lucrative opportunities for the development of the market.

COVID-19 Impact Analysis:

The initial lockdown during Q1 and Q2 2020 caused severe disruptions in the supply chain of fresh potatoes. Lack of raw materials from major suppliers and halts in the movement of finished products stagnated the market growth. The regulated activities and limited opening of convenience stores further exacerbated the situation. Relaxation of regulations post the initial lockdown and resumption of market activities helped the market to normalcy.

Nonetheless, various industry players in the global fresh potatoes market are increasingly focusing on establishing successful collaborations, acquisitions, and joint venture activities to enhance their respective customer bases. These players are also growing their supply capabilities to meet customer requirements on a local and global scale. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.

Competitive Landscape:

The fresh potatoes market landscape appears highly fragmented, with a significant chunk of it being dominated by players in Asian countries.

• Conagra Brands, Inc.
• McCain Foods Limited
• R. Simplot Company
• Lamb Weston
• Bonduelle SCA
• B&G Foods, Inc. (Green Giant)
• Ardo NV
• Dole Food
• Yantai Tianlong Food Co.
• Other Key Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Segments Covered

Fresh Potatoes Market, By Product Type

• White Potato
• Yellow Potato
• Blue/ Purple Potato
• Russet Potato
• Red Potato
• Other Product Types

Fresh Potatoes Market, By Distribution Channel

• Supermarkets/ Hypermarkets
• Convenience Stores
• Independent Retailers
• Online Markets