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.
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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
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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
Prominent Frozen Potato Service Players
- McCain Foods Limited
- Bart’s Potato Company
- Lamb Weston Holdings Inc.
- J.R Simplot Company
- Aviko Holding B.V
- Kraft Heinz Company
- Himalaya Food International Ltd.
- Agrarfrost Holding GmbH & Co. KG
- Pohjolan Peruna Oy
- Agristo N.V
- American Lorain Corp.
- Farm Frites International B.V
- Greenyard Group
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