Potato Flake Market on the Rise
In 2024, the projected value of the worldwide potato flake market is USD8,05bn. The enduring appeal of processed foods and snacks is ensuring that there is a steady market for potato flakes. Thus, a solid foundation exists for the market to grow.
According to FMI, the demand for potato flakes is expected to increase at a CAGR of 4.8% through 2034. Potato flakes are becoming more and more popular in the food service business as a thickening ingredient for soups and sauces. Mashed potatoes are getting more and more popular in non-traditional countries like China and Japan, where there is also a growing demand for the product.
The market value is expected to have reached USD12.8 by 2034. It is projected that the number of vegans and vegetarians will increase significantly throughout the predicted period. Given that vegan and vegetarian diets frequently include potato-based goods, it is projected that demand for potato flakes will rise significantly throughout the projection period.
Nonetheless, there are obstacles to the market’s progress. Market participants must accept the risk of inferior potatoes leading to substandard potato flakes. The development of the market is further hampered by substitutes for thickening agents, such as arrowroot and cornstarch.
“Through the presence of the burgeoning food and food service industry, the demand for potato flakes is inflating. While the market has some inherent drawbacks, investors are investing in expanding production facilities to keep the demand moving. Thus, the market presents opportunities for investors,” according to an FMI analyst.
