PUBLISHER: The Business Research Company | PRODUCT CODE: 1458661
PUBLISHER: The Business Research Company | PRODUCT CODE: 1458661
Frozen potatoes encompass processed and frozen potato products designed for storage and subsequent consumption. The production process involves cleaning, peeling, cutting, and potentially blanching the potatoes before freezing. These products are aimed at minimizing preparation time and reducing labor costs.
The primary categories within frozen potatoes include potato fries, wedges, stuffed potatoes, slices, chunks, dices, baked potatoes, among others. Potato fries typically involve potatoes cooked through the frying method. Distribution occurs through both business-to-business (B2B) and business-to-consumer (B2C) channels, serving end-users in commercial and residential settings.
The frozen potato market research report is one of a series of new reports from The Business Research Company that provides frozen potato market statistics, including frozen potato industry global market size, regional shares, competitors with a frozen potato market share, detailed frozen potato market segments, market trends and opportunities, and any further data you may need to thrive in the frozen potato industry. This frozen potato market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The frozen potato market size has grown strongly in recent years. It will grow from $62.68 billion in 2023 to $66.32 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The historical growth in the frozen potato industry can be credited to shifts in consumer lifestyles, the proliferation of fast-food establishments, the global expansion of the frozen potato business, urbanization trends, and an increasing consumer demand for convenient food options.
The frozen potato market size is expected to see strong growth in the next few years. It will grow to $81.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period is linked to the escalating pace of urbanization and evolving lifestyles, a heightened awareness regarding the health advantages of fresh farm produce, the widespread popularity of fast-food chains and casual dining establishments, an increasing demand for convenient food options, and a rising market for organic and non-GMO frozen potato products. Notable trends in the forecast period encompass a surge in healthier and specialty options, the emergence of plant-based alternatives, and a growing preference for sustainable and organic choices.
The expansion of the fast food industry is poised to drive growth in the frozen potato market. The fast food sector, known for its quick-service meals and snacks, relies heavily on frozen potatoes due to their convenience, consistency, and extended shelf life compared to fresh alternatives. Frozen potatoes cater to consumers seeking convenient, perceived healthier, or less processed options, making them a staple ingredient in various fast food offerings. Data from Budget Branders in 2023 indicates substantial spending on fast food, with an estimated $200 billion annually in the US, projected to rise to $931.7 billion by 2027, with approximately 50 million Americans consuming fast food daily. Consequently, the burgeoning fast food industry is fueling demand for frozen potatoes.
Leading players in the frozen potato market are prioritizing the development of innovative potato products to align with consumer preferences, address evolving demands, and seize emerging market opportunities. Frozen potato products encompass a diverse range of processed potato-based food items that undergo freezing and packaging for convenient storage, distribution, and consumption. For instance, in November 2022, Amul, a prominent dairy company based in India, introduced a line of frozen potato products in the country. This product range includes popular items such as French fries, potato wedges, hash browns, and burger patties, catering to the growing demand for convenient and versatile potato-based offerings. Amul's expansion into frozen potatoes reflects its strategic diversification efforts beyond dairy products, leveraging existing infrastructure and distribution networks to capitalize on evolving consumer preferences and market dynamics.
In September 2022, McCain Foods, a renowned Canadian frozen food company, successfully acquired Scelta Products for an undisclosed sum. This strategic acquisition is intended to fortify McCain's presence in the global prepared appetizers market, aligning with the company's commitment to meeting customer and consumer demand. Representing a substantial investment, the acquisition is poised to catalyze McCain's growth and expansion within the frozen appetizers market. Scelta Products, headquartered in the Netherlands, specializes in producing frozen foods, particularly breaded and vegetable-based snack products.
Major companies operating in the frozen potato market report are Mondelez International Inc., The Kraft Heinz Company, General Mills Inc., J.R. Simplot Company, Lamb Weston Holdings Inc., Greenyard Group, Koninklijke Cosun U.A., Cooperatie Koninklijke Cosun U.A., The Hain Celestial Group, Inc., McCain Foods Limited, Farm Frites International B.V., Simplot Australia Pty Ltd., Cavendish Farms, Riviana Foods Inc., Alexia Foods, Aviko Holding B.V., Agristo N.V, Kronos Foods Corp, Keybrand Foods Inc., Bart's Potato Company, Himalaya Food International Ltd., AGRARFROST GMBH & CO. KG, Pizzey Ingredients Ltd., 11er Nahrungsmittel GmbH, Bannisters' Farm Ltd., Linwood Crops Ltd., Mainland Frozen Foods Ltd., Joy Wing Mau Agricultural Products Processing Factory
Asia-Pacific was the largest region in the frozen potato market in 2023. The regions covered in the frozen potato market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the frozen potato market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The frozen potatoes market consists of sales of french fries, hash browns, tater tots, potato wedges, mashed potatoes, potato pancakes, and potato puffs. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Frozen Potato Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on frozen potato market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for frozen potato? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The frozen potato market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.