Global Potato Market 2024

Potato Market Size

The global potato market reduced slightly to $X in 2023, remaining constant against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the global market remained at a somewhat lower figure.

Potato Production

In value terms, potato production reduced modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Global production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2023 were China (X tons), India (X tons) and Ukraine (X tons), together accounting for X% of global production. Russia, the United States, Germany, Bangladesh, France, Pakistan, Poland, Canada, Egypt and Peru lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Pakistan (with a CAGR of X%), while production for the other global leaders experienced more modest paces of growth.

In 2023, the global average yield of potatoes contracted slightly to X tons per ha, remaining constant against the previous year's figure. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2023, the growth of the average potato yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the total area harvested in terms of potatoes production worldwide amounted to X ha, therefore, remained relatively stable against 2022. In general, the harvested area, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The global harvested area peaked at X ha in 2012; however, from 2013 to 2023, the harvested area stood at a somewhat lower figure.

Potato Exports

Exports

For the third consecutive year, the global market recorded growth in overseas shipments of potatoes, which increased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the global exports reached the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, potato exports skyrocketed to $X in 2023. Overall, total exports indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The global exports peaked in 2023 and are likely to continue growth in the near future.

Exports by Country

The shipments of the three major exporters of potatoes, namely France, the Netherlands and Germany, represented more than half of total export. Belgium (X tons) ranks next in terms of the total exports with a X% share, followed by Pakistan (X%). Egypt (X tons), Canada (X tons), the United States (X tons), India (X tons), Spain (X tons), China (X tons) and the UK (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of X%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest potato supplying countries worldwide were the Netherlands ($X), France ($X) and Germany ($X), together comprising X% of global exports. Canada, Egypt, the United States, Belgium, Spain, China, the UK, Pakistan and India lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average potato export price amounted to $X per ton, jumping by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The global export price peaked in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the UK ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the other global leaders experienced more modest paces of growth.

Potato Imports

Imports

In 2023, approx. X tons of potatoes were imported worldwide; with an increase of X% compared with the year before. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Global imports peaked in 2023 and are likely to continue growth in the near future.

In value terms, potato imports soared to $X in 2023. Overall, total imports indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, global imports reached the peak figure in 2023 and are likely to see gradual growth in years to come.

Imports by Country

In 2023, Belgium (X tons), distantly followed by the Netherlands (X tons), Spain (X tons) and Italy (X tons) represented the key importers of potatoes, together making up X% of total imports. France (X tons), Portugal (X tons), Germany (X tons), Russia (X tons), Nepal (X tons), Canada (X tons) and Malaysia (X tons) held a relatively small share of total imports.

Imports into Belgium increased at an average annual rate of X% from 2012 to 2023. At the same time, France (X%), Nepal (X%), Spain (X%), Malaysia (X%), Italy (X%) and Portugal (X%) displayed positive paces of growth. Moreover, France emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. Russia, Canada and the Netherlands experienced a relatively flat trend pattern. By contrast, Germany (X%) illustrated a downward trend over the same period. Belgium (X p.p.) and France (X p.p.) significantly strengthened its position in terms of the global imports, while Germany and the Netherlands saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported potatoes worldwide, comprising X% of global imports. The second position in the ranking was held by Spain ($X), with an X% share of global imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Belgium totaled X%. In the other countries, the average annual rates were as follows: Spain (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average potato import price stood at $X per ton in 2023, surging by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Global import price peaked in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform