February 11, 2019 by Steve Blade
A recent study of Fact.MR envisages the potato flakes market to record a splendid 7.0% value CAGR through 2028. Fast growth of food chains worldwide, beyond metros in destinations of tourist interest, is another key growth influencer of the potato flakes market.
Organized and planned approach of modern trade formats to distribution and logistics management, and demand aggregation across diverse product ranges, have significantly impacted sales of potato flakes worldwide. Potato flakes sales are likely to grow on the efforts of modern trade retailers in maintaining their fill rate above safety stock, for balancing the inventory across the economic order quantity. Supremacy of modern trade in the potato flakes market is foreseen to prevail, despite relatively slower sales conversion estimated for the period, 2018 to 2028, according to the study.
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Potato Flakes Market: Online Stores to Aid Product Transparency and Boost Sales Growth
Growth of ecommerce, internet proliferation, and increase in online stores, in comparison with review sites, are key transformations that have facilitated consumers to compare price levels of potato flakes product variants. Greater availability of inherent intelligence on products, and other relevant details such as details of producer and the crop’s origin, has resulted in greater product transparency in the potato flakes market, thereby favoring its growth. Additionally competitive pricing of potato flakes products, coupled with various profitable coupons or offers, as well as schemes, involved in online purchases are expected to bode well for future growth of the potato flakes market.
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Remarkable growth in retail sales of baby food products, in tandem with essentiality of potato flakes as an imperative ingredient in many baby foods, will further fuel growth of the potato flakes market in the upcoming years. Rapid urbanization and rising disposable incomes of consumers have directly influenced sales of processed and ready-to-eat foods, as they enable relaxation in the already busy regime of consumers. Demand proliferation of such food products has significantly rubbed off on expansion of the potato flakes market, and this trend is expected to persist in the upcoming years.
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Asia-Pacific excluding Japan (APEJ) continues to remain the mainstay for potato flakes manufacturers, as the region is home to world’s leading food producers, exporters and importers. Future growth opportunities for the potato flakes market in APEJ are immense, on account of huge demand for nutrition-rich processed food from growing middle-class population. Heightened pace of activities among players who seek entering or consolidating their position, in tandem with massive alterations in consumer lifestyle made by ripple effects of urbanization, are key factors impacting growth of APEJ’s potato flakes market.
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