0

Frozen Potato Market Expected to Reach $92.7 Billion by 2031—Allied Market Research

 
2022
Frozen Potato Market

Report Code : A01823

quote A rise in consumer spending, the increasing influence of food delivery services, the surge in the number of fast food restaurants, an increase in working age population, and rapid urbanization are some of the factors driving the demand for fast food, which in turn stimulates the expansion of the frozen potato market. Furthermore, the rising preference of the millennial population for ready-to-eat and ready-to-cook food is further likely to support the growth of the frozen potato market. quote

Roshan Deshmukh - Manager
Food and Beverages at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Frozen Potato Market," The frozen potato market size was valued at $60.3 billion in 2021, and is estimated to reach $92.7 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

The frozen French fries segment accounted for the highest share of the global market in 2021. Frozen potatoes and their different products are obtained via the processing of fresh potatoes by using a variety of advanced machinery and incredibly low temperatures. These products are consumed via quick service restaurants (QSRs). The frozen potato market is segmented on the basis of product, end user, and region. The different products of frozen potato include French fries, hash brown, shapes, mashed, sweet potatoes/yam, battered/cooked, twice baked, topped/stuffed, and others.

The rapid development of QSRs, such as McDonald's, Burger King, and Subway in emerging economies, such as China, India, and Argentina drives the global frozen potato market. Moreover, growth in demand for processed food in developing and developed nations, owing to their varied taste & flavor and high disposable income of people further boosts the market growth. However, the high costs associated with the products and the constant need for very-low temperatures are expected to impede market growth during the frozen potato market forecast. The developing economies of Asia-Pacific and LAMEA are expected to present growth opportunities for various players in the market.

The global frozen potato sector gets significantly boosted by the rise in popularity of quick service restaurants (QSRs), commonly referred to as fast food restaurants. In developed economies, QSRs are often associated with fast service, convenience, and inexpensive meals. Even while similar characteristics are present in emerging nations, the consumption of frozen potato products such as frozen pot French fries, tikki, wedges, and bites has an additional attraction. For instance, in certain emerging economies, this can entail consuming American or western cuisine on special occasions. Owing to their vast populations and increasing numbers of QSRs such as McDonald's, China and India saw a notable increase in the consumption of frozen potatoes. Furthermore, owing to the quick spread of QSRs such as McDonald's, Burger King, Wendy's, Subway, and Dunkin' Donuts, the demand for burger-and-fries meals has been rising steadily in emerging nations. Moreover, many nations around the world enjoy the British fish and chips that QSRs serve. These QSRs consume a lot of frozen potatoes for the meal's chips, contributing to the industry's continued expansion.

Increased per capita income, dynamic changes in eating habits, and a rise in the popularity of fast food items are projected to support the expansion of the market. According to frozen potato market trends, the demand for frozen food is increasing day by day which is expected to create more opportunities for the manufacturer in the upcoming years. However, the development of the market is likely to be constrained by the adoption of a healthy lifestyle and growth in awareness of the health problems associated with eating fast food.

The frozen potato market is segmented into product type, end user, and region. On the basis of product type, the market is categorized into French fries, hash brown, shapes, mashed, sweet potatoes/yam, battered/cooked, topped/stuffed, and others. By end user, it is bifurcated into residential and commercial. The commercial segment is further segregated into full-service restaurants, quick-service restaurants, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA)

On the basis of product type, the hash brown segment gained significant market share in 2021 and is expected to grow at CAGR of 3.5% during the forecast period. The frozen French fries product segment occupied a major market share, in terms of revenue, with almost half of the share. However, this trend is expected to decline to some extent during the forecast period, owing to growth in the acceptance of other frozen potato products in the market.

On the basis of end user, the commercial segment is expected to reach $78,293 million by 2031, with a CAGR of 4.4%. This is majorly attributed to the increasing popularity of QSRs, such as McDonald‘s, in developing regions. Furthermore, the rise in per capita income, growth in expenditure on hotels, restaurants & cafes, and surge in popularity of quick service restaurants such as Domino, KFC, Pizza Hut, Burger King, and Subway contribute to generating more demand for frozen food such as frozen potato. Frozen potatoes are widely served as French fries and hash brown in restaurants. Frozen potatoes are majorly consumed in commercial restaurants in form of different cuisines.

Region-wise, in 2021, Asia-Pacific and LAMEA collectively accounted for almost half of the frozen potato market share, registering a lucrative CAGR, and are anticipated to retain their position in the global frozen potato industry in 2023. This is attributed to the significant growth of the food & beverage industries in different countries, such as China, India, Brazil, and other developing economies. An increase in the number of commercial restaurants and a fast-paced lifestyle drive the market frozen potato market growth in Asia-Pacific and LAMEA.

The players operating in the frozen potato industry have adopted product launch, acquisition, and business expansion as their key developmental strategies to expand their market share, increase profitability, remain competitive in the market and gain frozen potato market opportunities. The key players profiled in the frozen potato market analysis include  Agrarfrost GmbH & Co. KG, Agristo NV, Bart's Potato Company, Aviko B.V., Farm Frites International B.V., Greenyard N.V., Himalaya Food International Ltd., J.R. Simplot Company, Mccain Foods Limited, Lamb-Weston Holdings, Inc., and The Kraft Heinz Company.

Key Findings of The Study

  • By product type, the french fries segment is expected to grow at a CAGR of 4.9% from 2022 to 2031.
  • By end user, the commercial segment is expected to grow at a CAGR of 4.4% from 2022 to 2031.
  • Europe region has been gaining a dominant share in the global frozen potato market and is expected to grow at a CAGR of 3.0% during the forecast period.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Frozen Potato Market by Product (French Fries, Hash Brown, Shapes, Mashed, Sweet Potatoes/Yam, Battered/Cooked, Topped/Stuffed, Others), by End User (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Feb 2024

HIV Injection Market

Download Sample

Buy Full Version
"Frozen Potato Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers