01 February 2023
Research and advisory company publishes global report.
THE processed potatoes market is likely to see growth of 4.82% year-on-year from 2022 to 2023, with the increasing prominence of private-label brands driving growth, according to a new report.
In 2017, the processed potatoes market was valued at USD 124.87 billion. North America held the largest market share, valued at USD 41.27 billion. The processed potatoes market size is estimated to grow by USD 41.71 billion from 2022 to 2027 at a CAGR of 5.2%, according to global technology research and advisory company, Technavio.
Growing competition in the market is compelling vendors to adopt various growth strategies, such as entering into mergers and acquisitions to expand their business operations, says the Technavio report.
Major drivers are the growing focus on expanding production capabilities for potato processing, the growth of organised retailing and the increasing prominence of private-label brands.