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Global Frozen Potatoes Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Product (French Fries, Hash Brown, Shapes, Mashed, Sweet Potatoes, Battered/cooked, Twice Baked and Topped/Stuffed), End User (Residential and Commercial) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Industry Analysis (2024 to 2029)

Published: March, 2023
ID: 4196
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Frozen Potatoes Market Size (2024 to 2029)

The global frozen potatoes market size was touted to be USD 57.04 billion in 2023 and is predicted to reach USD 71.35 billion by 2029 from USD 59.21 billion in 2024.

Frozen vegetables have relatively more nutrients than fresh vegetables. Potatoes are the main staple food, followed by wheat, rice, and corn, which rank fourth in world production. They are consumed as fresh or processed in both households and restaurants. Frozen potatoes are one of the main types of processed potatoes, and they are very convenient and flexible in terms of preparation time. They have a long storage time and a naturally preserved form, containing various nutrients and vitamins. Frozen potatoes and various products are obtained by processing fresh potatoes using a variety of advanced machines and very low temperatures. These are available in a variety of shapes on the market, such as potato chips, french fries, shapes, mashed potatoes, sweet potatoes, cooking, twice baked, covered/stuffed, and other frozen potato products. These products are consumed at QSR (Quick Service Restaurants) or by customers at home through retail stores.

Global Frozen Potatoes Market Drivers:

The growing consumption of prepared and ready-to-eat foods is significantly contributing to the growing demand for frozen potatoes and driving the global market growth. The demand for frozen potatoes is growing rapidly worldwide. The increase in the number of fast-food restaurants, the increased demand for processed foods, urbanization and the increase in exports and imports of frozen potatoes are a few crucial factors driving the growth of this market. In the future, the rapid increase in the female workforce is expected to drive demand for ready-made foods like potato chips and hash browns and is expected to boost the global frozen potatoes market over the forecast period.

The demand for frozen potatoes worldwide is increasing rapidly due to increased fast-food restaurants, increased global food processing capacity, increased imports, increased urbanization, and a reduction in tariffs from the WTO to import and export these products. The Asia Pacific is foreseen to develop as a promising market for frozen potatoes because of the expansion of QSRs. The increase in the female workforce increases the demand for prepared foods, which significantly increases the consumption of convenience products, such as frozen potato chips and dehydrated potato products.

An increase in the number of fast-service restaurants is further boosting the growth rate of the global frozen potatoes market. In addition, increasing food spending, increasing the food and beverage sector, increasing the number of commercial restaurants, increasing demand for multi-food foods, and increasing demand in the food processing industry are some of the other factors supposed to drive growth in terms of revenue in the coming years. The main advantage of frozen potatoes is that they take less time to cook and are easier to prepare. In addition, the introduction of new product variants with different flavors has greatly boosted the consumer base for frozen potato products and has accelerated market growth. The notable growth of fast-service restaurants and the increase in the disposable income of consumers are some of the factors that contribute to the growth of the frozen potato market.

Furthermore, advances in refrigeration technology have accelerated the growth of the frozen potato market. Due to the busy lifestyle, expanding income levels and high purchasing power of consumers in the region, the transition to food products that are easy to cook is intensifying, keeping the market growing. Many people, including potato chips, nuggets, kibble, and grated potato chips, are on the rise due to lifestyle changes and consumer adoption of the Western diet culture. This is a major trend currently underway in many developed and developing countries around the world. Furthermore, the acceptance of Western culture and the growing demand for fresh food in developing countries of Asia Pacific and LAMEA are considered a common reason for the growth of prepared foods, which offer a wide range of opportunities for market expansion of frozen potatoes.

Global Frozen Potatoes Market Restraints:

High-cost requirements for storage and transportation and product recall are some of the key factors that can significantly inhibit growth in the target market. Furthermore, a greater interest in health and greater consumption of other healthy foods, such as fruits and vegetables, in developing and developed countries can reduce the demand for frozen potato products. Furthermore, the constant low-temperature requirements for keeping potato products frozen and the high costs associated with this will limit the growth of the global frozen potatoes market.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

3.8%

Segments Covered

By Product, End User and Region

Various Analyses Covered

Global, Regional, & Country Level Analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

McCain Foods, Lamb-Weston, J.R. Simplot Company, Aviko, Bart's Potato Company, Agrarfrost GmbH & Co. KG, Agristo NV, Himalya International Ltd, TaiMei Potato Industry Limited and Others.

 

This research report on the global frozen potatoes market has been segmented and sub-segmented based on the product, end-user and region.

Global Frozen Potatoes Market - By Product:

  • French Fries
  • Hash Brown
  • Shapes
  • Mashed
  • Sweet Potatoes
  • Battered/Cooked
  • Twice Baked
  • Topped/Stuffed
  • Others

Global Frozen Potatoes Market - By End User:

  • Residential
  • Commercial

Global Frozen Potatoes Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Asia Pacific and North America are the prominent areas boosting the growth of the frozen potato market. As consumption rates increase, North America and Europe have been the main regions of the frozen potato market, and this will continue for years to come. The North American market is expected to generate high returns in terms of global market value, followed by the European market. This is mainly due to the high per capita consumption of frozen potato products in countries like Canada and the United States. Demand for frozen potatoes from restaurants and other fast food vendors and outlets is also expected to increase as consumers in the countries of this region, especially young people in society, have an increasing preference for fast food and other convenient foods, driving the growth of the frozen potato market in North America. Markets in the Asia-Pacific region are expected to grow at the fastest annual rate in the future due to the entry of retail fast food conglomerates into countries such as India, China and Japan, as rapid urbanization changes patterns and food consumption preferences.

TOP COMPANIES IN THE MARKET:

Companies playing a significant role in the global frozen potatoes market include McCain Foods, Lamb-Weston, J.R. Simplot Company, Aviko, Bart's Potato Company, Agrarfrost GmbH & Co. KG, Agristo NV, Himalya International Ltd. and TaiMei Potato Industry Limited.

RECENT HAPPENINGS IN THE MARKET:

  • At the Idaho Potato Commission (IPC), the foreign trade mission will leave Taiwan in the week it started and is expected to discuss the possibility of using the technology in the frozen potato business abroad for almost a week.

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FAQ's

What can be the size of the global Frozen Potatoes market by 2028?

By 2028, it is predicted that the global Frozen Potatoes market can reach a valuation of US$ 74.403 billion.

What can be the compound annual growth rate of the global Frozen Potatoes market?

The global Frozen Potatoes market can expand with a CAGR of 3.8% during the forecast period.

Mention the major key players in the global Frozen Potatoes market?

McCain Foods, Lamb-Weston, J.R. Simplot Company, Aviko, Bart's Potato Company, Agrarfrost GmbH & Co. KG, Agristo NV, Himalya International Ltd, TaiMei Potato Industry Limited and Others.

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