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The Global Potato Market Hits Record Highs

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The Global Potato Market Hits Record Highs

IndexBox has just published a new report: ‘World – Potato – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In 2019, the global potato market increased by 6% to $140.5B, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +3.0% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hits record highs in 2019 and is expected to retain growth in years to come.

Consumption by Country

The countries with the highest volumes of potato consumption in 2019 were China (93M tonnes), India (51M tonnes) and Ukraine (23M tonnes), with a combined 45% share of global consumption. These countries were followed by Russia, the U.S., Bangladesh, Germany, Poland, the Netherlands, Canada and Belarus, which together accounted for a further 23%.

From 2007 to 2019, the most notable rate of growth in terms of potato consumption, amongst the leading consuming countries, was attained by Bangladesh, while potato consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($52.3B) led the market, alone. The second position in the ranking was occupied by India ($10.5B). It was followed by the U.S..

The countries with the highest levels of potato per capita consumption in 2019 were Belarus (591 kg per person), Ukraine (521 kg per person) and the Netherlands (350 kg per person).

Market Forecast 2019-2030

Driven by increasing demand for potato worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.6% for the period from 2019 to 2030, which is projected to bring the market volume to 441M tonnes by the end of 2030.

Production 2007-2019

In 2019, the amount of potatoes produced worldwide reached 371M tonnes, surging by 2.1% on the previous year. The total output volume increased at an average annual rate of +1.6% from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2011 with an increase of 12% against the previous year. Global production peaked in 2019 and is expected to retain growth in years to come. The general positive trend in terms output was largely conditioned by a slight expansion of the harvested area and modest growth in yield figures.

Production by Country

The countries with the highest volumes of potato production in 2019 were China (93M tonnes), India (51M tonnes) and Ukraine (23M tonnes), with a combined 45% share of global production. These countries were followed by Russia, the U.S., Bangladesh, Germany, France, Poland, the Netherlands, Canada and Belarus, which together accounted for a further 25%.

From 2007 to 2019, the most notable rate of growth in terms of potato production, amongst the key producing countries, was attained by Bangladesh, while potato production for the other global leaders experienced more modest paces of growth.

Harvested Area 2007-2019

In 2019, the total area harvested in terms of potatoes production worldwide was estimated at 18M ha, approximately mirroring the previous year. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of 2.7% year-to-year. As a result, the harvested area attained the peak level of 19M ha. From 2012 to 2019, the growth of the global potato harvested area failed to regain the momentum.

Yield 2007-2019

The global average potato yield stood at 21 tonne per ha in 2019, growing by 1.6% on 2018. The yield figure increased at an average annual rate of +1.7% over the period from 2007 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2011 when the yield increased by 8.9% year-to-year. Over the period under review, the average potato yield hit record highs in 2019 and is expected to retain growth in years to come.

Exports 2007-2019

In 2019, shipments abroad of potatoes increased by 4.9% to 15M tonnes, rising for the fourth consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.2% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 42% against the previous year. As a result, exports reached the peak of 16M tonnes. From 2014 to 2019, the growth of global exports remained at a lower figure.

In value terms, potato exports rose rapidly to $4.8B (IndexBox estimates) in 2019. The total export value increased at an average annual rate of +2.8% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.

Exports by Country

In 2019, France (3.5M tonnes), distantly followed by Germany (1.9M tonnes), the Netherlands (1.8M tonnes), Belgium (1M tonnes) and Egypt (0.7M tonnes) were the main exporters of potatoes, together committing 60% of total exports. Pakistan (625K tonnes), the U.S. (550K tonnes), Canada (504K tonnes), China (471K tonnes), India (417K tonnes), Spain (303K tonnes) and Saudi Arabia (294K tonnes) followed a long way behind the leaders.

From 2007 to 2019, the biggest increases were in India, while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest potato supplying countries worldwide were France ($812M), the Netherlands ($800M) and Germany ($440M), together comprising 43% of global exports. China, Egypt, the U.S., Belgium, Canada, Spain, Pakistan, India and Saudi Arabia lagged somewhat behind, together comprising a further 35%.

In terms of the main exporting countries, India recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average potato export price stood at $323 per tonne in 2019, picking up by 4.1% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the average export price increased by 18% year-to-year. As a result, export price attained the peak level of $375 per tonne. From 2012 to 2019, the growth in terms of the average export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was China ($613 per tonne), while Saudi Arabia ($170 per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

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UK’s Dependence on Imports of Frozen Potatoes Increases Markedly

IndexBox has just published a new report: ‘United Kingdom – Frozen Potatoes – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the frozen potato market in the UK amounted to $1.5B in 2018, declining by -2.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, frozen potato consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the frozen potato market reached its maximum level at $1.7B in 2014; however, from 2015 to 2018, consumption stood at a somewhat lower figure.

Production in the UK

In 2018, approx. 458K tonnes of frozen potatoes were produced in the UK; approximately mirroring the previous year. Overall, frozen potato production continues to indicate a moderate contraction. The pace of growth appeared the most rapid in 2012 when production volume increased by 6.1% against the previous year. In that year, frozen potato production attained its peak volume of 657K tonnes. From 2013 to 2018, frozen potato production growth failed to regain its momentum. In value terms, frozen potato production amounted to $651M in 2018 estimated in export prices.

Imports into the UK

In 2018, the amount of frozen potatoes imported into the UK totaled 663K tonnes which remained relatively stable against the previous year. The total import volume increased at an average annual rate of +4.2% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, frozen potato imports reached their maximum in 2018 and are likely to see steady growth in the near future. In value terms, frozen potato imports amounted to $641M (IndexBox estimates) in 2018.

Imports by Country

The Netherlands (370K tonnes) and Belgium (268K tonnes) constitute the main suppliers of frozen potato imports to the UK, with a combined 96% share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Belgium.

In value terms, the Netherlands ($359M) and Belgium ($255M) appeared to be the largest frozen potato suppliers to the UK, together comprising 96% of total imports.

Import Prices by Country

The average frozen potato import price stood at $967 per tonne in 2018, picking up by 5.6% against the previous year. Overall, the frozen potato import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average import prices for frozen potatoes attained their peak figure at $1,094 per tonne in 2014; however, from 2015 to 2018, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2018, the country with the highest price was the Netherlands ($969 per tonne), while the price for Belgium stood at $954 per tonne. From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Belgium.

Source: IndexBox AI Platform