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Analysis: The global potato market hits record highs

IndexBox has just published a new report: ‘World – Potato – Market Analysis, Forecast, Size, Trends and Insights’. The editors at IndexBox published an article in which a summary of the report’s key findings is provided. Below is an except of some of the highlights.

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.

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%. Driven by increasing demand for potato worldwide, the market is expected to continue an upward consumption trend over the next decade.

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 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%.

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.

Export: 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.

Source: IndexBox AI Platform. Read the full article here

Lukie Pieterse, Editor and Publisher of Potato News Today

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