Global Frozen Potato Market By End User (Commercial, Residential), Product Type (French Fries, Hash Brown, Shapes, Mashed, Sweet Potatoes Yam, Battered Cooked, Twice Baked, Topped Stuffed)
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Market Report Description
The global Frozen Potato Market size is expected to attain a market size of $65.3 billion by 2022, growing at a CAGR of 4.4% during the forecast period.
Potato crops are one of the most consumable diets after maize, wheat and rice, globally. It is grown in 125 countries and more than a billion people consume it daily. Some consume fresh potato and some consume it in processed form. Potatoes are stored in extremely low temperature for the preservation and protection of the food. Frozen potato based products are used in almost every part of the world in restaurants, fast food outlets, small & large scale stores and others. The different process involved in the manufacturing of the products are washing, stone removing process, peeling, cutting in different sizes & shapes (as per the product?s requirement), blanching, drying, and then deep freezing.
Some products require additional preparatory methods depending on their formula. Frozen potato has gained a lot of attention in recent years. Introduction of new flavors and products have contributed to its rising demand. Manufactures have introduced differentiated products to remain competitive and garner better market share. Recently, Hidden Valle has launched its new ranges of frozen potato products that are helpful for consumers which eventually reduce the cooking time. The product also comes in three different flavors that include Shredded Hash Browns, Roasted Red Potatoes, and Southern Style Hash Browns. Additionally, well-known brand McCain has also launched new snacks with more crisp and different flavors. The company has also announced that they would also expand their plant with investment of $200 million. The company will expand its production out of burley. There has been a prominent growth in the sales volume of frozen potato products. Significant growth in quick services restaurants and increase in the disposable income of the consumers are some of the factors contributed in the growth of frozen potato market. Additionally, advancement in refrigerated technology has fueled the growth of frozen potato market. However, high cost of frozen potato products is restraining the growth of frozen potato market.
The Frozen Potato Market has been segmented on the basis of product, end-user, and region. Based on product, the market is segmented into French Fries, Hash Brown, Shapes, Mashed, BatteredCooked, Sweet PotatoesYam, Twice Baked, ToppedStuffed, and Others. Based on End-user, the market is segmented into Residential and Commercial. Based on Region, the market is segmented into North America, Asia-Pacific, Europe, Latin America, Middle East, and Africa (LAMEA). Asia-Pacific and North America have supported in the growth of frozen potato market.
The key players operating in the frozen potato market are McCain Foods Limited, J.R. Simplot Company, Lamb Weston, Agrarfrost Holding Gmbh & Co. KG, Agristo, Bart?s Potato Company, Himalya International, and Koninklijk Co?peratie Cosun U.A (Royal Cosun).