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POTATOES, CARROTS AND PEPPER
The market for potato processing is showing a significant growth due to the rise in demand for applications such as snack foods and prepared ready meals and with the increase in consumer preferences for convenience foods to save time and efforts. Increase in the number of retail channels such as hypermarkets and supermarkets, rapid growth of the fast food industry, industrialization policies (such as the FDI and the establishment of Export Processing Zones) adopted by governments of developing economies such as India and China are also expected to drive the growth of the potato processing market during the forecast period. The frozen segment is estimated to account for the largest market share in the potato processing market in 2019. Frozen potato products are considered as the most widely used potatoes owing to their prolonged shelf life and the lesser time required for meal preparation. The increasing demand for french fries in regions such as Asia-Pacific, the Middle East, and South America due to the expansion of quick service restaurants (QSRs) and retail channels is the major factor attributing in its growth. McDonalds, Burger King, Dunkin Donuts, and Subway are some of the major QSRs contributing to the growth of the frozen potato market.
In 2014, annual carrot production was recorded at 37.5 million MT. Its main production regions are Asia and Europe, which account respectively for 54.7% and 28% of the total production. However, FAO latest statistics show a world production of carrots and turnips is 35.658 MT, but the main harvested areas are still in Asia and Europe. The main production countries are China (harvested area:492,162 ha), Russia (87,810 ha), Ukraine (39,800 ha), the United States (37,440 ha), Turkey (32,000 ha) and Uzbekistan (21,000 ha).
Consumption is defined in part by comparison to production. Fresh carrot consumption is approximately 5 kg per person annually across the world. Carrots are consumed both fresh and frozen largely and are the 7th most consumed fresh vegetable in the U.S., per capita consumption of carrots is almost 7.65 kg annually.
Carrots can be processed in a variety of ways; dehydrated to make chips, flakes, powder; thinly sliced and deep-fried, like potato chips; as well as cut, peeled and frozen into baby carrots. Carrot consumption trend changes along with vegetable prices, individual incomes and preferences. Per capita use of fresh carrots is strongest among Asians, with per capita use of both fresh and freezing carrots greatest among upper income households. In the eastern countries such as: China, Korea, most carrots purchased for home use are cooked in stews or fried rice or used as a garnish to add color. They would be interested in purchasing U.S. carrots for use as a snack food or in salads. In the western countries such as America, high nutritional carrot products are popular, as well as the convenience of ready-to-eat, for example: the baby carrot is a fashion. In Europe, the bulk product is hardly defined on the shelves. A limited amount of the carrots are pre-processed, such as the pre-packaged or cut ones, there are hardly any other varieties.
Black Pepper is a pungent hot-tasting powder spice prepared from dried and ground peppercorns, used to flavor food. It is also known as king of spices because it contains rich anti-oxidants and other nutrients. The high demand for pepper presents an attractive market opportunity for new vendors to enter the market. In the present market scenario, it is estimated that the new crop of black pepper accounts for nearly 30% to 35% of the market. The high demand is expected to increase the price of black pepper, thereby increasing the profit margin of the vendors in this market. The international marketplace for the black pepper is largely divided on the basis of category, final usage, and application. On the basis of category, the marketplace is divided into organic and inorganic. On the basis of final usage, the marketplace is divided into frozen products, bakery and confectionery products, meat & poultry products, soups, sauces & dressing, snacks and convenience food, beverages, and others. On the basis of application, the black pepper marketplace is divided into foodstuff & drinks, fitness maintenance, private upkeep, and makeups.
Geographically, the international black pepper market is divided into North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East and Africa (MEA) and Japan.
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