The Asia Pacific Potato & Yam Derivatives Market would witness market growth of 4.2% CAGR during the forecast period (2023-2030).
Convenience is one of the main trends in the food industry. Consumers in most developed nations include it in their everyday diets. These foods must be processed and prepared thoroughly, made easier by technical advancements in freezing, packaging, preservation, artificial flavorings, and other sectors. In addition, convenience food consumption has expanded across the region, due to globalization and the resulting lifestyle changes. This has raised the demand for potato starch, which will lead to the expansion of the market.
Food products with potato protein have improved mouthfeel and texture, which makes them easier to consume. It can be included in the processes used to make baking and confectionery foods since it has great gelation & emulsification capabilities and similar binding qualities to eggs. Potatoes are a key component in new product development (NPD) in plant-based diets because of their high utility.
Different food and beverage items with potato protein added helps to have a full amino acid score and good functionality. It is used in animal feed to aid in anaerobic digestion in animals. The overall demand for potato protein will increase due to all these advantages, including its higher functioning and use as an appropriate egg white substitute in baking goods. As the potato protein increases, it will boost the market.
The expansion of the vast Indian middle class, which was a consequence of liberalization, occurred concurrently with the expansion of the restaurant business in India. There were a number of factors that contributed to the expansion of the restaurant industry. These factors included rapid urbanization, a rising awareness of Western lifestyles, an increase in the number of women entering the workforce, and an increase in disposable income. It became necessary for an increasing number of young people to eat out and order takeout as they moved away from their hometowns to other cities and towns. Due to this growing restaurant culture, the snacking culture across region has significantly flourished. This has resulted in rising demand for potato & yam derivatives for snacks production.
The China market dominated the Asia Pacific Potato & Yam Derivatives Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $59,798.7 million by 2030. The Japan market is registering a CAGR of 3.5% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 4.8% during (2023 - 2030).
Based on Application, the market is segmented into Food, Animal Feed, Fermented Beverages, and Others. Based on Type, the market is segmented into Starch, Whole, Feed, Flour, Protein, Tapioca, and Others. Based on Source, the market is segmented into Potato, Sweet Potato, and Yam. Based on Distribution Channel, the market is segmented into B2C, and B2B. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Potato & Yam Derivatives Market is Projected to reach USD 781.9 Billion by 2030, at a CAGR of 3.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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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