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Processed potato product market to grow, driven by convenience food trend

The processed potato products market has witnessed significant growth in the past few years, and will reach $67 billion by the end of 2019.

Driven prominently by the thriving convenience food trend, the market will continue its growth at a stable compound annual growth rate (CAGR) of four per cent dring the forecast period of 2019-2029. These were the findings of a report on the processed potato products market by Persistence Market Research.

Mashed potatoes, potato rolls, loaded sweet potatoes, smoked and fried potatoes are the processed potato products which are widely consumed by a majority of the consumer base.

Processed potato products such as cutlets, mashed potatoes, and tater tots are preferred by children. Ready-to-eat, ready-to-cook, and frozen meals are also gaining popularity. These factors would predominantly drive market growth in the next decade.

Manufacturers can profit from introducing processed potato products that offer health benefits along with taste.

The market is, however, staring at the impacts of the increasing shift to low-carb diets, such as the Keto diet, that continue to pose a major threat to product sales.

Full article on FNB here