Frozen Potato

Frozen Potato Fries To Generate US$ 19 Billion In Value By 2031

Food and beverages

As per Fact.MR’s recently published report, the market for frozen potatoes is anticipated to reach US$ 103.5 Bn, growing at a CAGR of 6% across the 2021-2031 forecast period. Growth is majorly reliant on the growing popularity of fast food joints and quick service restaurants across major geographies.

From 2016-2020, demand accelerated at a CAGR of 5%, reaching US$ 55.5 Bn by the end of the said historical period. Furthermore, demand experienced a y-o-y growth of 3.9% in 2021 over 2020. Sales further spiked during the height of the COVID-19 pandemic, as people stocked up on frozen foods, apprehending potential shortages during the lockdown.

For More Insights Into The Market, Request a Sample of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=307

Globally, there is an increasing migration towards consuming more plant-based and vegan diets. Studies reveal that nearly 8 billion animals are slaughtered annually for their meat. Moreover, animal agriculture has led to the destruction of more than 90% of critical rain forests such as the Amazon. Hence, people are opting for more natural alternatives, a trend which is likely to impel sales of frozen potatoes and potato-based foods in the long run.

Key Takeaways from the Market Study

  • Global market for frozen potato to be valued at US$ 57.8 Bn by 2021
  • By product, frozen potato fries to generate US$ 19 Bn in value, yielding 41% revenue
  • 3 out of 5 frozen potato sales to occur across the commercial sector
  • By distribution channel, modern trade is likely to account for 33% revenue
  • India to be the fastest growing market for frozen potatoes, clocking a CAGR of 7%
  • Germany to be the most lucrative market across Europe, growing at 5% CAGR

Key Segments Covered

  • Product Type
    • Frozen Potato Fries
    • Frozen Potato Wedges
    • Frozen Stuffed Potatoes
    • Frozen Potato Chunks
    • Frozen Potato Slices
    • Frozen Potato Dices
    • Frozen Baked Potato
    • Other Frozen Potato Types
  • End User
    • Frozen Potato for Commercial Use
    • Frozen Potato for Residential Use
  • Distribution Channel
    • Frozen Potato Sales via Modern Trade
    • Frozen Potato Sales via Grocery Stores
    • Frozen Potato Sales via Convenience Stores
    • Online Frozen Potato Sales
    • Frozen Potato Sales via Other Distribution Channels

Competitive Landscape

Prominent manufacturers of frozen potato products emphasize on augmenting their regional manufacturing and distribution capabilities by expanding their production units in lucrative regions. Furthermore, certain players offer a diverse range of products to cater to specific requirements.

  • In April 2021, McCain Foods Limited announced it had decided to localize production in Russia to supply customers with processed French Fries and other specialty potato appetizers, for which the company has announced US$ 150 million in investment. The objective is to reduce Russia’s dependence on frozen food imports
  • Bart’s Potato Company is a prominent frozen potato products manufacturers. The company offers four distinct categories of frozen French Fries- Shoestring, Straight Cut, Steakhouse and Crinkle Cut respectively
  • Since 2016, American Lorain Corp. has been collaborating with TaiMei Potato Industry Ltd. in China. Under this agreement, the latter has agreed to manufacture Lorain’s brand of French Fries. TaiMei offers a range of frozen potato products, including straight cut fries, mashed potato and wedges

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