The frozen potato market size was valued at $60.30 Billion in 2021 and is estimated to reach $92.70 Billion by 2031, registering a CAGR of 4.2% from 2021 to 2031.
The significant rise in purchasing power in China is driving a massive expansion of the Chinese market. The number of fast-food restaurants and coffee shops selling a variety of frozen products including frozen potato food items has rapidly increased in developing countries. In order to expand in Asia-Pacific and other developing regions, major fast-food businesses and hotel networks have made significant investments. Furthermore, Latin American markets such as in Brazil and Argentina are expanding quickly as consumer spending on upscale food items rises. Global demand for frozen potatoes is expanding as a result of a rise in fast food restaurants, an expansion of the world's capacity for food processing, rising disposable incomes, rapid urbanization, and decreased import and export taxes on frozen potatoes.
Growing health concerns in developed economies have increased consumer awareness of health and fitness. Fast food meal sales have fallen as a result of the increased incidence of childhood obesity in North America. This has led to consumers who are concerned about their health favoring fresh non-vegetarian items over frozen potato food, which is a key factor restricting the market's growth. It is anticipated that demand for healthy foods, such as yogurt, low-cholesterol desserts, fruits, vegetables, and organic high-fiber bread products is anticipated to rise in developed regions such as North America, which is likely to suppress the demand for frozen food items including frozen potato products.
Global per capita income has witnessed a healthy growth rate over the past few years, particularly in emerging economies. The increased purchasing power among consumers in these economies has led to higher demand for food, in general, and restaurant food, in particular. According to estimates, the per capita income in the next decade is expected to increase twice as fast in developing countries relative to developed countries. This has significant implications for the growth of the frozen potato industry in these markets. The surge in disposable incomes among individuals, particularly in developing economies, is expected to drive market growth. QSRs, often selling frozen potato products, are typically a relatively inexpensive source of away-from-home food, and therefore, frequently attract consumers with more restrictive budgets.
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, the 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)
The major players operating in the frozen potato industry are include Agrarfrost GmbH & Co. KG. (Agrarfrost), Agristo NV (Agristo), Bart’s Potato Company, Co-Operative Royal Cosun U.A. (Aviko B.V.), Farm Frites International B.V., Greenyard N.V., Himalya International Limited, J.R. Simplot Company, McCain Foods Limited, and Lamb Weston Holdings, Inc.
The significant rise in purchasing power in China is driving a massive expansion of the Chinese market. The number of fast-food restaurants and coffee shops selling a variety of frozen products including frozen potato food items has rapidly increased in developing countries. In order to expand in Asia-Pacific and other developing regions, major fast-food businesses and hotel networks have made significant investments. Furthermore, Latin American markets such as in Brazil and Argentina are expanding quickly as consumer spending on upscale food items rises. Global demand for frozen potatoes is expanding as a result of a rise in fast food restaurants, an expansion of the world's capacity for food processing, rising disposable incomes, rapid urbanization, and decreased import and export taxes on frozen potatoes.
Growing health concerns in developed economies have increased consumer awareness of health and fitness. Fast food meal sales have fallen as a result of the increased incidence of childhood obesity in North America. This has led to consumers who are concerned about their health favoring fresh non-vegetarian items over frozen potato food, which is a key factor restricting the market's growth. It is anticipated that demand for healthy foods, such as yogurt, low-cholesterol desserts, fruits, vegetables, and organic high-fiber bread products is anticipated to rise in developed regions such as North America, which is likely to suppress the demand for frozen food items including frozen potato products.
Global per capita income has witnessed a healthy growth rate over the past few years, particularly in emerging economies. The increased purchasing power among consumers in these economies has led to higher demand for food, in general, and restaurant food, in particular. According to estimates, the per capita income in the next decade is expected to increase twice as fast in developing countries relative to developed countries. This has significant implications for the growth of the frozen potato industry in these markets. The surge in disposable incomes among individuals, particularly in developing economies, is expected to drive market growth. QSRs, often selling frozen potato products, are typically a relatively inexpensive source of away-from-home food, and therefore, frequently attract consumers with more restrictive budgets.
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, the 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)
The major players operating in the frozen potato industry are include Agrarfrost GmbH & Co. KG. (Agrarfrost), Agristo NV (Agristo), Bart’s Potato Company, Co-Operative Royal Cosun U.A. (Aviko B.V.), Farm Frites International B.V., Greenyard N.V., Himalya International Limited, J.R. Simplot Company, McCain Foods Limited, and Lamb Weston Holdings, Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the frozen potato market analysis from 2021 to 2031 to identify the prevailing frozen potato market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the frozen potato market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global frozen potato market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By End User
- Residential
- Commercial
- Sub-Type
- Full Service Restaurants
- Quick Service Restaurants
- Others
By Product Type
- French Fries
- Hash Brown
- Shapes
- Mashed
- Sweet Potatoes/Yam
- Battered/Cooked
- Topped/Stuffed
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of LAMEA
Key Market Players
- Agristo NV (Agristo)
- Bart’s Potato Company
- J.R. Simplot Company
- McCain Foods Limited
- Farm Frites International B.V.
- Greenyard N.V.
- Cosun
- Himalya International Limited
- Agrarfrost GmbH & Co. KG. (Agrarfrost)
- Lamb Weston Holdings, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FROZEN POTATO MARKET, BY PRODUCT TYPE
CHAPTER 5: FROZEN POTATO MARKET, BY END USER
CHAPTER 6: FROZEN POTATO MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report 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.
Key Findings of the Frozen Potato Market:
Based on product type, French fries was the highest contributor to the global frozen potato market accounted for about 40% of the total market share and is projected to witness the highest CAGR in terms of revenue during the forecast period.
Asia-Pacific is expected to be the dominant shareholder of the global market in 2025, due to high growth rate of population and frozen potato products demand over there.
Frozen French fries occupied the highest market with almost half of the frozen potato market share in 2017, and is expected to grow at a decent CAGR of 4.2% during the forecast period.
Based on end user, the commercial segment is expected to lead in terms of demand for frozen potato products with a lucrative CAGR of 3.9% in the forecast period.
Hash brown is anticipated to be the second highest growing product segment of global frozen potato market at a lucrative CAGR from 2017 to 2025, in terms of value.
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.
Companies Mentioned
- Agristo NV (Agristo)
- Bart’s Potato Company
- J.R. Simplot Company
- McCain Foods Limited
- Farm Frites International B.V.
- Greenyard N.V.
- Cosun
- Himalya International Limited
- Agrarfrost GmbH & Co. KG. (Agrarfrost)
- Lamb Weston Holdings, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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