Growing demand for processed foods, increasing consumer inclination towards vegetarian food and snacks, an expanding food retail industry along with the improving global potato crop over the years are key factors contributing to high CAGR of Potato `Processing market during the forecast period.
According to the current analysis of Reports and Data, the global Potato Processing market was valued at USD 24.83 Billion in 2018 and is expected to reach USD 37.41 Billion by year 2026, at a CAGR of 5.2%.
The global potato-based consumption is going up due to heavy demand from end consumers across the globe due to the ease of meal preparations with processed potatoes.
This in turn is also pushing forwards the demand for processed potato products, which are being heavily demanded with a change in the consumers’ consumption patterns, growing consumer base in the developing nations and a deeper market penetration.
The growth of the global food retail sector is also uplifting the growth of the potato processing market. The market is witnessing mergers, acquisitions and partnerships recently to utilize the available resources and specializations in the most optimal manner.