THE processed potatoes market poised to grow by USD 37.74bn during 2020-2024, a new report reveals.
Research organisation Technavio, which has been monitoring the processed potatoes market, says it is progressing at a CAGR of over 5% during the forecast period.
Growing focus on expanding production capabilities is a major trend driving the growth of the market and the year-over-year growth for 2020 is estimated at 4.60%.
Burts Potato Chips Ltd., Calbee Inc., Campbell Soup Co., Cooperatie Koninklijke Cosun UA, Groupe Limagrain Holding, Kellogg Co., Lamb Weston Holdings Inc., McCain Foods Ltd., PepsiCo Inc., and The Kraft Heinz Co., are some of the major market participants.
The growth and expansion of the organised retail sector is one of the major factors driving the market and the Europe region will contribute 31% of the market share. To make most of the opportunities, market vendors are advised to focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Technavio is a global technology research and advisory company. Its research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop strategies to optimise their market positions.