11 August 2023
Increased demand for ready-to-eat food drives growth.
ACCORDING to market research company Fortune Business Insights, the global dehydrated potato market size was valued at USD 5.43 billion in 2023.
The market is projected to grow from USD5.71 billion in 2022 to USD 8.95 billion by 2029, exhibiting a CAGR of 6.63% during the forecast period, the research agency adds.
The increasing demand for ready-to-eat (RTE) food products has led to the rise of convenience foods which help consumers save time and effort in food activities such as meal preparation and cooking and post-meal activities.
Growing gross Household Disposable Income (GHDI) of consumers and rapid urbanisation have enhanced the expenditure toward processed and ready-to-eat food products. The change in consumer taste, improving consumer lifestyle, long working hours, and the COVID-19 outbreak led to an increased demand for convenience foods according to the report.
Source: Digital Journal