Frozen Potato Market Growth
Overview and Scope
Frozen potatoes refer to potato products that have undergone processing, freezing, and packaging for storage and later consumption. This process involves cleaning, peeling, cutting, and sometimes blanching the potatoes before freezing them. They are used to reduce preparation time and cut labor costs.
Sizing and Forecast
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 growth in the historic period can be attributed to changing consumer lifestyles, rise in fast food restaurants, globalization of the frozen potato business,urbanization and rising demand for convenience foods.
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 growth in the forecast period can be attributed to increasing urbanization and altering lifestyles, rising awareness about the health benefits of fresh farm produce, popularity of fast-food chains and casual dining establishments, growing demand for convenience food, rising demand for organic and non-GMO frozen potato products. Major trends in the forecast period include healthier and specialty options, plant-based alternatives, sustainable and organic choices.
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Segmentation & Regional Insights
The frozen potato market covered in this report is segmented –
1) By Products: Potato Fried, Potato Wedges, Stuffed Potatoes, Potato Slices, Potato Chunks, Potato Dices, Baked Potato, Other Products
2) By Distribution Channel: Business-To-Business (B2B), Business-To-Consumer (B2C)
3) By End-User: Commercial Use, Residential Use
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.
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Major Driver Impacting Market Growth
The growing fast food industry is expected to propel the growth of the frozen potato market going forward. The fast food industry refers to the segment of the food service sector that focuses on providing quick-service meals and snacks to customers. Frozen potatoes are widely used in the fast food industry due to their convenience, consistency, and longer shelf life compared to fresh potatoes, catering to those seeking a perceived healthier or less processed choice. For instance, in 2023, according to Budget Branders, a US-based food and beverage company, an estimated $200 billion was spent on fast food each year, and that is expected to increase to $931.7 billion by 2027 in the US. Moreover, 50 million Americans eat fast food daily. Therefore, the growing fast food industry is driving the growth of the frozen potato market.
Key Industry Players
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., Coöperatie 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
The frozen potato market report table of contents includes:
1. Executive Summary
2. Frozen Potato Market Characteristics
3. Frozen Potato Market Trends And Strategies
4. Frozen Potato Market – Macro Economic Scenario
5. Global Frozen Potato Market Size and Growth
…..
32. Global Frozen Potato Market Competitive Benchmarking
33. Global Frozen Potato Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Frozen Potato Market
35. Frozen Potato Market Future Outlook and Potential Analysis
36. Appendix
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