Report : Frozen Potato Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (French Fries, Hash Brown, Shaped, Mashed, Battered/Cooked, Topped/Stuffed, and Others) and End User (Residential and Commercial)
According to our latest market study, titled "Frozen Potato Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product (French Fries, Hash Brown, Shaped, Mashed, Battered/Cooked, Topped/Stuffed, and Others) and End User (Residential and Commercial)," the market was valued at US$ 62,753.12 million in 2021 and is projected to reach US$ 83,889.18 million by 2028. It is expected to grow at a CAGR of 4.2% from 2021 to 2028. The report highlights key factors driving the market and prominent players and their developments.
Potatoes are one of the major staple food products consumed either as fresh potato or processed potato. They are one of the most widely consumed crops. One of the main types of processed potato is frozen potato which is highly convenient and flexible in relation to preparation time. Frozen potato contains different vitamins and nutrients in natural preserved form and has a long shelf life. It also contains vitamin B6, fiber, magnesium, and antioxidants. Frozen potato is made from processing the fresh potato with the help of advanced machinery at a very low temperature.
The rising demand for French fries is expected to drive the frozen potato market during the forecast period. Quick service restaurants are one of the major consumers of French fries because it requires less preparation time. As fast-food and quick-service restaurants are on the rise, the demand for frozen French fries is also increasing worldwide, thereby boosting the frozen potato market growth.
Furthermore, frozen potatoes and their different types have been increasingly in demand from fast-food chains, hotels, and quick-service restaurants. These potatoes are now beginning to be accepted commercially on a large scale due to their ease of use and the reduced preparation time. Nowadays, due to the convenience provided by frozen potatoes, many of the caterers are shifting toward the use of frozen food and potatoes. As the number of restaurants and hotels is increasing across the world, the demand for frozen potatoes in the commercial sector is also increasing. Thus, all these factors are expected to boost the frozen potato market's growth.
The key players operating in the frozen potato market include Lamb Weston Holdings, Inc.; McCain Foods Limited; The Kraft Heinz Company; J.R. Simplot Company; Bart's Potato Company; Aviko B.V; Agristo NV; Greenyard; Himalaya Food International Ltd.; and Farm Frites International B.V.
Impact of COVID-19 Pandemic on Frozen Potato Market
Many sectors faced unprecedented challenges due to the COVID-19 pandemic. The food & beverages industry faced severe disruptions due to preventive measures taken by governments of different countries, including lockdowns, travel bans, and border restrictions. Moreover, due to the shortage of raw materials and labor, there was a shortfall in product supply, which led to a decline in sales. However, the demand for frozen potatoes even during the lockdowns remained steady. The COVID-19 outbreak has considerably increased the demand for frozen food because it retains nutrition for longer and has a longer shelf life than fresh vegetables. The lockdown situation worldwide increased the demand for frozen food products, enabling customers to avoid regular market visits. This factor also positively impacted the demand for frozen potatoes during the initial months of the COVID-19 pandemic. However, due to supply chain disruptions, raw material and labor shortages, and operational difficulties, there was a demand and supply gap that affected the global frozen potato market growth. For instance, McDonald's Japan discontinued sales of medium and large-size orders of French fries in mid-December due to the chain's continuing potato shortage. Moreover, due to the opening of restaurants and cafes across the globe, the frozen potato market is expected to witness significant growth in the coming years. Furthermore, residential sales grew significantly even during lockdowns as consumers had more family meals at home than ever before, and they were looking for convenient and cost-effective food products.
The report includes the segmentation of the global frozen potato market as follows:
Based on product, the frozen potato market is segmented into French fries, hash brown, shaped, mashed, battered/cooked, topped/stuffed, and others. Based on end user, the frozen potato market is segmented into residential and commercial. Based on the geography, the frozen potato market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM).
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