NEW YORK, Feb. 24, 2023 /PRNewswire/ -- As per Zion Market Research study, The global mashed potatoes industry size was nearly $9.1 Billion in 2022 and is set to reach $16.1 Billion by 2030 with a CAGR of nearly 7.2% between 2023 and 2030.
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Mashed Potatoes Market: Overview
Mashed potatoes are a diet that is produced through the smashing of boiling potatoes. Other ingredients utilized in the recipe are salt, pepper, milk, and butter. These mashed potatoes accompany vegetables and meat in the diet and are utilized as fillings in gnocchi and dumplings. Moreover, they can be boiled and baked and spice can be added to them. For the record, mashed potatoes are presented along with sausages in the British Isles. The dish is referred to as mash and banger. Reportedly, other dishes that make use of mashed potatoes are potato croquettes, colcannon, potato pancakes, cottage pies, and pierogi.
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Key Industry Insights & Findings of the Mashed Potatoes Market Reports:
- As per the analysis shared by our research analyst, the global mashed potatoes market is projected to expand annually at the annual growth rate of around 7.2% over the forecast timespan (2023-2030)
- In terms of revenue, the global mashed potatoes market size was evaluated at nearly $9.1 billion in 2023 and is expected to reach $16.1 billion by 2030
- The mashed potatoes industry is anticipated to record massive growth over the forecast period due to a growing inclination of people toward natural & organic food products and flavored tastes.
- Based on application, the food product segment contributed to a major share of the global market in 2023
- In terms of distribution channel, the online segment is predicted to account for a major share of the global market during the predicted timespan.
- Region-wise, the European continent is projected to be the key regional revenue driver of the global market during the projected timeframe.
Zion Market Research published the latest report titled "Mashed Potatoes Market By Form (Powder and Solid), By Application (Food Ingredient, Culinary, Food Product, and Snacks), By Distribution Channel (Foodservice, Online, Supermarket/Hypermarket, and Retail Store), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 - 2030" into their research database.
Industry Dynamics:
Mashed Potatoes Market: Growth Drivers
- High demand for natural and organic diets to expedite the growth of the global mashed potatoes market
Mashed potatoes are convenient diets and taste better and have high nutritive value, thereby driving the global market trends. Apart from this, the growing inclination of people towards natural & organic food products and flavored tastes will proliferate the size of the global mashed potatoes market in the ensuing years. Need for saving cooking time has translated into massive demand for mashed potatoes. With mashed potatoes possess a huge proportion of fats and high calories, they have garnered humungous demand as the best food alternative globally.
Furthermore, developing countries are preferring mashed potatoes as they are cost-effective and possess starch in perfect proportions. Moreover, the low-income group population prefers mashed potatoes over other diets, thereby prompting the global market demand. Elderly persons with digestive and oral health issues find intake of mashed potatoes easy as they satiate their nutrient requirements. This is one of the factors that drive the penetration of the food product across the globe.
Mashed Potatoes Market: Restraints
- Rise in fertilizer costs can put brakes on global industry growth over forecast period
Developing and under-developed economies are facing the problems such as rapidly surging costs of fertilizers. This can result in a decline in the expansion of the global industry size. Furthermore, less availability of arable land due to the rise in population has led to more residential and commercial constructions, thereby further impeding the growth of the mashed potatoes industry globally.
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Mashed Potatoes Market: Opportunities
- Growing preference for the product from health-conscious customers to generate new growth opportunities for the global industry
Flavored tastes, demand for ready-to-eat food products, and growing desire for organic & natural food items will open new avenues of growth for the global mashed potatoes industry. Growing product demand from health-conscious consumers will open new facades for the global industry. Furthermore, the rise in dining at restaurants along with rise in the intake of frozen & packaged food products will further open lucrative opportunities for the expansion of the market across the globe.
Mashed Potatoes Market: Challenges
- Surging costs of raw components to pose a big challenge for market growth across the globe
Increase in the costs of raw materials and issues with the shipping of raw components due to wars & natural calamities such as earthquakes and floods has poised a huge challenge to the growth of the market.
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Global Mashed Potatoes Market: Segmentation
- The global mashed potatoes market is sectored into form, application, distribution channel, and region.
Based on the distribution channel, the mashed potatoes market across the globe is divided into supermarket/hypermarket, foodservice, online, and retail store segments. The online segment is slated to dominate the distribution channel segment over the forecast period owing to the massive purchase of mashed potatoes through the online ordering of food products during the COVID-19 and post-COVID-19 periods. Rise in the web penetration and the use of smartphones has provided an impetus to online purchases of convenient diets such as mashed potatoes. Hectic work schedule and the rise in the working women population have paved a way for online purchase of snacks and other food products, thereby expediting the segmental expansion.
In terms of application, the global mashed potatoes industry is sectored into food ingredient, snacks, food product, and culinary segments. Moreover, the food product application, which contributed majorly towards the global mashed potatoes industry share in 2023, will lead the global industry share in the near future. The growth of the segment over the next eight years can be credited to the use of mashed potatoes in various food products in form of salads and dressings. Moreover, they are also used in potato croquettes, potato pancakes, and pierogi.
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List of Key Players in Mashed Potatoes Market:
- Bem Brasil Alimentos LTDA
- Agrarfrost Holding GmbH & Co. KG
- Casa Milo
- Idahoan Foods LLC
- Agristo Masa Pvt Ltd
- Knorr
- Hormel Foods Corporation
- McCain Foods Limited
- Pomuni aardappelleverancier
- Pineland Farms Potato Company Inc
- Hungry Jack Potatoes
- Simply Potatoes
- Iscon Balaji Foods
- Lamb Weston Holdings Inc.
- Farm Frites International B.V.
- Bradmount Foods, Bischofzell Nahrungsmittel AG
- Bikaji Snacks, Bart's Potato Company
- Clarebout Potatoes NV.
- Aviko Holding B.V.
- The Ardo NV
- Atakey Potato Gida San Tic. A.S.
- Birds Eye
- J.R Simplot Company.
Key questions answered in this report:
- What are the growth rate forecast and market size for Mashed Potatoes Market?
- What are the key driving factors propelling the Mashed Potatoes Market forward?
- What are the most important companies in the Mashed Potatoes Market Industry?
- What segments does the Mashed Potatoes Market cover?
- How can I receive a free copy of the Mashed Potatoes Market sample report and company profiles?
Report Scope:
Report Attribute | Details |
Market size value in 2021 | USD 9.1 Billion |
Revenue forecast in 2030 | USD 16.1 Billion |
Growth Rate | CAGR of almost 7.2 % 2023-2030 |
Base Year | 2020 |
Historic Years | 2016 - 2021 |
Forecast Years | 2023 - 2030 |
Segments Covered | By Form, By Distribution Channel, By Application, And By Region |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2023 to 2030 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Agrarfrost Holding GmbH & Co. KG, Idahoan Foods LLC, Agristo Masa Pvt Ltd, Knorr, Hormel Foods Corporation, McCain Foods Limited, Pomuni aardappelleverancier, Pineland Farms Potato Company Inc, Hungry Jack Potatoes, Simply Potatoes, Lamb Weston Holdings, Inc., Farm Frites International B.V., Bischofzell Nahrungsmittel AG, Bem Brasil Alimentos LTDA, Bikaji Snacks, Bart's Potato Company, Clarebout Potatoes NV., Aviko Holding B.V., Iscon Balaji Foods, The Ardo NV, Atakey Potato Gida San Tic. A.S., Birds Eye, Bradmount Foods, Casa Milo, and J.R Simplot Company. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Recent Developments
- In August 2022, Idahoan Foods, LLC, a key player in the mashed potatoes business, introduced chicken broth-flavored mashed potatoes. Reportedly, the new offering is an addition to the line of flavored mashed products available in sixteen varieties. The move is aimed at supplying customers with key food products and fulfilling at-home cooking food demand for the U.S. population.
- In April 2022, Mash Direct, a farm in Ireland, launched First Mashed Potato Easter Egg across the globe. Reportedly, the new food product is made up of varieties of potatoes grown on Northern Ireland's family farm. For the record, the new food product can be purchased from certain retail stores for £10 for a limited period. The move will boost the demand for mashed potatoes in Ireland and will help the mashed potatoes market explore new horizons of growth across Europe.
Regional Dominance:
- European Mashed Potatoes Market To Maintain Its Regional Market Domination During Forecast Timeframe.
The mashed potatoes market in Europe, which recorded lucrative growth in 2023, is set to continue to contribute major market share even in the forecasting years. The growth of the regional market in 2023-2030 can be subject to massive acceptance of regional cuisine comprising mashed potatoes as dressing and salads. Growing trend of consuming a vegan diet in the countries such as Germany, the UK, Sweden, Austria, and Ireland will open new vistas of growth for the mashed foods market in Europe. Apart from this, Germany is the largest producer of potatoes and this has contributed majorly toward the growth of the mashed potatoes market in Europe. According to European Potato Trade Association, potato harvest in the EU was nearly 55 million tons in 2020 with Germany being the largest potato producer in that year. Moreover, Germany contributed to about 21% of the total EU potato harvest in 2020.
Global Mashed Potatoes Market is segmented as follows:
Mashed Potatoes Market: By Form Outlook (2023-2030)
- Powder
- Solid
Mashed Potatoes Market: By Distribution Channel Outlook (2023-2030)
- Food service
- Online
- Supermarket/Hypermarket
- Retail Store
Mashed Potatoes Market: By Application Outlook (2023-2030)
- Food Ingredient
- Culinary
- Food Product
- Snacks
Mashed Potatoes Market: By Region Outlook (2023-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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