The Global Potato Market is Growing at a Steady Rate in 2023
The latest market report from 360 Market Updates shows that the global potato market size was valued at USD96.3bn in 2022 and is expected to expand at a CAGR of 3.47% during the forecast period of 2023-2028, reaching USD118.15bn by 2028.
On the other hand, Mordor Intelligence data reveals that the global potato market size is estimated at USD11.18bn in 2023, and is expected to reach USD13.28bn by 2028, growing at a CAGR of 3.50% during the forecast period (2023-2028).
“The global potato market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2028. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon,” the 360 Market Updates analysts reveal.
Potatoes are exported in various forms all over the world. In 2021, the overall export value of prepared or preserved potatoes was around USD10.8bn, making it the leading potato export method. The Netherlands, Germany, and Canada are the world's leading potato exporters. In the same year, Belgium was the world's biggest importer of fresh and chilled potatoes, followed by the Netherlands and the United States.
The global potato market is divided into two major categories: fresh and chilled potatoes. Fresh potatoes are consumed daily, whilst chilled potatoes are shipped or imported for use in the food processing industry. Potatoes have grown popular even in historically non-potato-consuming countries due to their lengthy shelf life.
Fresh potatoes are in high demand in the processed food business, as processed products account for the majority of potato consumption. France, Germany, China, the Netherlands, Canada, and the United States were the top fresh potato exporters in 2020, according to the International Trade Map. China, India, Russia, the United States, and Germany were the top potato-producing countries in 2020, with yields of 78.2m tonnes, 51.3m tonnes, 19.6m tonnes, 18.8m tonnes, and 11.7m tonnes, respectively.
