According to a new report, published by KBV research, The Global Potato & Yam Derivatives Market size is expected to reach $781.9 billion by 2030, rising at a market growth of 3.5% CAGR during the forecast period.
The Food segment is leading the Global Potato & Yam Derivatives Market by Application in 2022; thereby, achieving a market value of $385 billion by 2030. The demand in the food sector is driven by the versatility provided by potato & yam derivatives and their wide variety of applications, such as wedges, fries, and chips. Several companies in the sector are using cutting-edge processing technology to improve the output of potatoes and other tubers for the food business.
The Starch segment would showcase a CAGR of 2.1% during the forecast period. A rise in the demand for substitute starches produced from gluten-free foods, including yam, sweet potato, and potatoes, is a result of the rising prevalence of food allergies, gluten intolerance, and celiac disease. The segment is expanding due to the increased use of starches in baking, snacking, and beverages.
The Potato segment generated the highest revenue in the Global Potato & Yam Derivatives Market by Source in 2022; thereby, achieving a market value of $406 billion by 2030. One of the main factors fuelling the segment's expansion is the rising demand for potato crops due to rising global consumption for employment in processed foods like fries and chips. The market has benefited from the growing use of raw potatoes in quick-service restaurants and food services.
The B2C segment is registering a CAGR of 4% during (2023 - 2030). Supermarkets, hypermarkets, specialty shops, and other convenience stores are all part of the B2C segment. A wide variety of processed goods, including snacks, chips, bars, and other foods, is projected to fuel the segment's expansion.
The Europe region dominated the Global Potato & Yam Derivatives Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $280 billion by 2030. The North America market is poised to grow at a CAGR of 3.3% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 4.2% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/potato-yam-derivatives-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Tate & Lyle PLC, Royal Avebe U.A., Roquette Freres SA, Tereos S.A, Ingredion Incorporated, Emsland Group, Basic American Foods, Pepees SA, McCain Foods Limited and Ham farms.
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