Market Size
The Global Mashed Potatoes Market reached US$ 10.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 16.5 billion by 2030. The market is growing at a CAGR of 6.4% during the forecast period 2024-2031.
Traditional mashed potatoes are typically seasoned with salt, pepper, and butter. The market is witnessing a surge in demand for flavorful and innovative seasonings. Toppings play a crucial role in enhancing the taste and visual appeal of mashed potatoes. The market has seen an increase in the availability of diverse toppings, such as cheese, bacon bits, chives, caramelized onions, sour cream, or even exotic toppings like truffle oil. These toppings offer additional flavor profiles and create a gourmet experience.
The increasing popularity of vegan and plant-based diets has led to a rise in demand for mashed potato products that are free from animal products. Mashed potatoes are traditionally made using russet potatoes due to their high starch content, resulting in a fluffy texture. However, there is a growing trend of exploring different potato varieties to create unique flavors and textures. For instance, Yukon Gold potatoes are often used for their buttery flavor and creamy texture.
Market Scope
| Metrics | Details |
| CAGR | 6.4% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Form, Application, Distribution Channel and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia pacific |
| Largest Region | Europe |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Growing Demand For the Food Service Industry Fuels the Growth of Mashed Potatoes
Mashed potatoes are a versatile side dish that can be paired with a wide range of entrees, making them a popular choice for food service establishments that serve a variety of cuisines. For instance, as per AG MRC, In 2020 a total of 1 million acres of potatoes were harvested in the United States. The average price of potatoes increased by $0.02 to $9.17 per cwt. Mashed potatoes are easy to prepare, which is especially important for food service establishments that need to quickly and efficiently serve large volumes of food to customers.
Potatoes are a relatively inexpensive ingredient, which makes mashed potatoes a cost-effective option for food service establishments looking to offer a filling side dish without breaking the bank. Food service establishments are always looking for new and innovative ways to differentiate themselves from their competitors.
Mashed potatoes can be customized with a variety of flavors and toppings, allowing chefs and food service operators to create unique and appealing menu items. Overall, the increasing demand for convenience, cost-effective, and versatile menu options in the food service industry is driving the growth of the mashed potatoes market.
Changing Consumer Preferences is Driving the Mashed Potatoes Market Growth
Busy lifestyles and time constraints have led to a growing demand for convenient and easy-to-prepare meal options. Mashed potatoes provide a quick and hassle-free side dish that can be prepared in minutes. As consumers increasingly prioritize convenience, the demand for mashed potatoes as a time-saving option continues to rise.
For instance, according to Potato Grower Magazine, on average, the most popular ways to eat potatoes are mashed, french fries, baking, and others with mashed potatoes accounting for 30% of all potato consumption. Mash potatoes are popular among older generations (35 percent).
Mashed potatoes are versatile and can be customized with various seasonings, herbs, or ingredients to create different flavors. Manufacturers and food service providers are capitalizing on this trend by introducing flavored mashed potatoes, such as garlic, herb-infused, or cheese-infused varieties. The availability of a wide range of flavors and varieties appeals to consumers' desire for culinary exploration, contributing to market growth.
Health Concerns Associated With Mashed Potatoes May Restrain The Market Growth
Mashed potatoes are a high-carbohydrate food, 100-gram mashed potatoes contain about 25 grams of carbohydrates and some consumers may be concerned about the impact of consuming too many carbohydrates on their health. This could lead to reduced consumption of mashed potatoes and other high-carbohydrate foods.The glycemic index (GI) of mashed potatoes is relatively high i.e. the GI of instant mashed potatoes is 87, which means that they can cause a rapid rise in blood sugar levels.
This can be a concern for people with diabetes or those who are trying to manage their blood sugar levels. Potatoes have been somewhat demonized in recent years as a "white carb" that is not as healthy as other vegetables. Some consumers may avoid potatoes and potato-based dishes like mashed potatoes because of this perception. Overall, health concerns associated with mashed potatoes could lead to reduced demand for this classic side dish.
Market Segment Analysis
The global mashed potatoes market is segmented based on form, application, distribution channel, and region.
Convenience and Long Shelf Life of Powder Form of Mashed Potatoes
Based on form, the mashed potatoes are classified into powder and solid.
In 2022, the powder form of mashed potatoes, also known as instant mashed potatoes, has traditionally had the highest share in the mashed potatoes market due to its convenience and ease of preparation. Instant mashed potatoes are very easy to prepare - simply add hot water or milk, stir, and they are ready to eat in a matter of minutes. This makes them a popular choice for busy households.
Powdered mashed potatoes have a much longer shelf life than fresh or refrigerated mashed potatoes, making them easier to store and transport. This makes them a popular choice for food service providers, such as restaurants, catering companies, etc. Overall, the convenience and long shelf life have made them a popular choice for consumers, which has led to a higher market share compared to other forms of mashed potatoes.
Market Geographical Share
Increasing Consumption of Mashed Potatoes in Europe
Europe has historically had a strong culinary tradition of consuming potatoes, and mashed potatoes have been a popular dish in many European countries for centuries. For instance, according to European Potato Trade Association, the EU harvested nearly about 55 million tons in 2020. This may have contributed to a higher market share for mashed potatoes in the region.
In addition, Europe has a large and diverse potato processing and manufacturing industry, with many companies specializing in the production of mashed potatoes and other potato-based products. This has led to the development of a wide range of mashed potato products to cater to different consumer preferences and needs.
Moreover, the food service industry in Europe, including restaurants, cafes, and hotels, is a significant market for mashed potatoes. These establishments often serve mashed potatoes as a side dish or as a part of a main course, which has contributed to the popularity of mashed potatoes in the region.
Market key Players
The major global players in the market include Knorr, Agrarfrost Holding GmbH & Co. KG, Idahoan Foods LLC, Hormel Foods Corporation, McCain Foods Limited, Hungry Jack Potatoes, Pineland Farms Potato Company Inc, Agristo Masa Pvt Ltd, Casa Milo, Simply Potatoes.
COVID-19 Impact Analysis On Market
COVID-19 has had significant effects on the food industry as a whole, including changes in consumer behavior, supply chain disruptions, and shifts in demand. During the COVID-19 pandemic, many people faced lockdowns, restaurant closures, and restrictions on dining out. As a result, more people cooked at home, which led to increased demand for convenience foods and pantry staples. Mashed potatoes, being a popular side dish and comfort food, may have experienced higher demand as people sought familiar and easy-to-prepare meals.
However, COVID-19 led to disruptions in the global food supply chain. Transportation and logistics issues, labor shortages, and restrictions on trade and exports may have impacted the availability and pricing of mashed potatoes and related ingredients.
Russia-Ukraine War Impact
Russia and Ukraine are both significant agricultural producers, including potatoes, which are a key ingredient in mashed potatoes. Russia-Ukraine War Impact disruptions in agricultural production, trade routes, or export/import relationships between these countries. Hence, it leads to an impact on the availability and pricing of potatoes and, consequently, mashed potatoes.
Key Developments
- In August 2022, Idahoan Foods LLC, a major player in mashed potatoes, launched chicken broth-flavored mashed potatoes. This new offering is an addition to the line of flavored mashed products and is available in 16 varieties
- In April 2022, Mash Direct, a farm in Ireland, introduced the First Mashed Potato Easter Egg. This new product is obtained from potatoes grown on Northern Ireland’s family farm.
- In April 2021, McCain Foods, a Canadian multinational frozen food company, launched a mashed potato product, which makes caterers produce creamy and fluffy mash in just 15 minutes.
Why Purchase the Report?
- To visualize the global mashed potatoes- market segmentation based on form, application, distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of the mashed potatoes market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The Global Mashed Potatoes Market Report Would Provide Approximately 61 Tables, 57 Figures, And 200 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
