NEW RESEARCH REPORT REVEALS KEY FACTORS DRIVING INCREASE
ROBUST growth is anticipated within the global frozen potato products market over the next five years, according to a new report.
The latest research from ResearchAndMarkets.com states that the market is expected to see compound annual growth rate (CAGR) of approximately 5% during the forecast period and is anticipated to reach USD 89.51 billion by 2029.
Last year the market was valued at 67.27billion US dollars.
Key factors driving the growth include expansion of the foodservice industry, increased investments in marketing and promotional activities by major industry players and a rise in e-commerce and online grocery shopping.
French fries held the highest market share and are expected to be the fastest-growing segment during the forecast period. The global expansion of fast-food chains like McDonald’s, Burger King, and KFC has significantly contributed to this, along with a rise in online food delivery services.
North America held a major share of the market while Germany is the biggest European consumer of frozen potato products and India is the biggest consumer in Asia Pacific, where many global fast food chains have been expanding operations.
Source: ResearchAndMarkets.com Photo: ‘Gustavo Fring’
