Report Code : A01823
Asia-Pacific is anticipated to be the highest growing region, attributed to the rapid expansion of quick service restaurants in the developing nations, such as India, China, and others.
Shankar Bhandalkar
Sr. Research Analyst, Food & Beverages at Allied Market Research
According to a new report published by Allied Market Research, titled,"Frozen Potato Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global frozen potato market was valued at $54,955 million in 2017 and is projected to reach $74,403 million by 2025, registering a CAGR of 3.8% from 2018 to 2025.
Potato is a major staple, ranked fourth in terms of global production after wheat, rice, and maize. It is consumed either as fresh potatoes or processed potatoes on a commercial and residential scale. Frozen potatoes are among the main types of processed potatoes and are highly convenient and flexible in terms of preparation time, containing different nutrients & vitamins in naturally preserved form with long shelf life. These are available in various forms in the market, such as French fries, hash brown, shapes, mashed, sweet potatoes/yam, battered/cooked, twice baked, topped/stuffed, and other frozen potatoes. French fries and hash brown are considered as the principle frozen potato products. These products are either consumed via quick service restaurants (QSRs) or through retail stores at home by customers. Increased demand of these products from commercial sector will impact the frozen potato market size positively during forecast period.
U.S., Canada, and European Union (EU) are some of the main regions responsible for production and export of frozen potato and related products. Conversely, the evolving countries in terms of production and export of frozen potatoes include China, India, Argentina, and others, owing to rapid growth in business of quick service restaurants. However, the requirement of constant low temperatures to maintain frozen potato products and high cost associated with these are expected to limit the frozen potato market growth. In addition, acceptance of western culture and rise in demand for freshly prepared food in the developing economies of Asia-Pacific and LAMEA are believed to be the common reasons for the growth of convenience food, which present various opportunities for the expansion of the global frozen potato market.
However, high cost associated with the products and constant need for very-low temperature are expected to impede the market growth. The developing economies of Asia-Pacific and LAMEA are expected to present growth opportunities for various players in the global frozen potato market.
In 2017, Asia-Pacific and LAMEA collectively accounted for almost half of the frozen potato market share, registering a lucrative CAGR and is 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 the other developing economies. Increase in number of commercial restaurants and improving lifestyle of the population drive the market frozen potato market growth in Asia-Pacific and LAMEA.
Major companies profiled in the report include McCain Foods, Lamb-Weston, J.R. Simplot Company, Aviko, Bart's Potato Company, Agrarfrost GmbH & Co. KG, Agristo NV, H.J. Heinz Company, Himalya International Ltd., and TaiMei Potato Industry Limited.
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Frozen Potato Market by Product (French Fries, Hash Brown, Shapes, Mashed, Sweet Potatoes/Yam, Battered/Cooked, Twice Baked, Topped/Stuff, and Others) and End User (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2018 - 2025
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