Frozen Sweet Potato Hash Brown and Tater Shots Market Segments and Growth by 2030

[Research Report] The market size was valued at US$ 113.33 million in 2022 and is projected to reach US$ 171.66 million by 2030; it is expected to register a CAGR of 5.4% from 2023 to 2030.

Market Insights and Analyst View:

Sweet potatoes are a rich source of fiber, vitamins, minerals, and antioxidants and are a preferred choice of starchy food in many regions. Health-conscious consumers prefer consuming sweet potato products over regular potato products, owing to the lower glycemic index of sweet potatoes than potatoes. Low glycemic index foods provide sustained energy and help stabilize blood sugar levels, thus beneficial for diabetic patients. Consumers are increasingly focusing on consuming healthy and nutritious food options, thus increasing the demand for healthy alternatives to conventional snacking items such as hash brown and tater shots. Sweet potatoes are considered a healthy alternative to potatoes due to their high fiber and nutritional content, thus making frozen sweet potato hash brown and tater shots a popular option for health-conscious customers. This factor is bolstering the frozen sweet potato hash brown and tater shots market growth.

Growth Drivers and Challenges:

The emergence of e-commerce has resulted in considerable changes in the way people shop and purchase food products. The growing penetration of smartphones and the internet, quick access to emerging technologies, rising purchasing power, and convenience provided by online retail shopping platforms are among the key factors bolstering e-commerce. People increasingly prefer online retail platforms for purchasing frozen foods. According to American Frozen Food Institute, online sales of frozen food products, including frozen snacks, increased by 75% in 2020. The online sales of food and beverages grew significantly during the COVID-19 outbreak due to the shutdown of brick-and-mortar stores and the imposition of several social restrictions by governments of various countries across the globe. With the rising penetration of e-commerce across multiple geographies, the manufacturers of frozen foods such as Conagra Brands Inc are also enhancing their online presence by selling products through Amazon, Tesco, Walmart, and other well-known e-commerce platforms. The growing adoption of e-commerce platforms is eliminating the dependency on offline retail stores. Thus, the rising sales of frozen snacks via e-commerce platforms are contributing to the growth of the frozen sweet potato hash brown and tater shots market.

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Frozen Sweet Potato Hash Brown and Tater Shots Market: Strategic Insights

Report Segmentation and Scope:

The “Global Frozen Sweet Potato Hash Brown and Tater Shots Market” is segmented based on product type, end use, and geography. Based on product type, the frozen sweet potato hash brown and tater shots market is segmented into hash brown and tater shots. Based on end use, the frozen sweet potato hash brown and tater shots market is segmented into residential and commercial. The frozen sweet potato hash brown and tater shots market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

Segmental Analysis:

Based on product type, the frozen sweet potato hash brown and tater shots market is bifurcated into hash brown and tater shots. The tater shots segment held a larger share of the market in 2022; the hash brown segment is likely to grow at a higher rate during the forecast period. Tater shots, also known as tater puffs, tater gems, shots, or chunks, are small cylindrical grated sweet potatoes seasoned with salt, pepper, and other spices. They are widely consumed due to their crispy texture and taste. Tater shots are becoming increasingly popular as snacking items and appetizers, especially among the younger population and children, as they are bite-sized, making them excellent finger food. They are flavorful, easy to consume on the go, and perfect for mid-day or evening snacks. Tater shots are available in various shapes and forms, making them versatile snacking items. Thus, the rising demand for sweet potato tater shots is driving the frozen sweet potato hash brown and tater shots market growth.

Based on end use, the frozen sweet potato hash brown and tater shots market is bifurcated into residential and commercial. The residential segment is expected to register a higher CAGR during the forecast period. Due to the fast-paced life of people and hectic work schedules, people are increasingly shifting toward frozen food, especially frozen snacks and meals, to avoid cooking hassle and save time. Frozen snacks can be prepared quickly, and they have excellent texture and flavor. Frozen sweet potato products, including hash brown and tater shots, are preferred snacking options as they are bite-sized and flavorful. Moreover, sweet potatoes are rich in good carbohydrates, carotenoids, vitamins, and antioxidants. All these factors are driving their demand among consumers, especially among the younger population and kids. Thus, the increasing popularity of frozen sweet potato products is driving the frozen sweet potato hash brown and tater shots market growth.

Regional Analysis:

Based on geography, the frozen sweet potato hash brown and tater shots market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In 2022, North America held the largest share of the global frozen sweet potato hash brown and tater shots market, and Europe is estimated to register the highest CAGR during the forecast period. The frozen sweet potato hash brown and tater shots market growth is attributed to the rising demand for convenience food, well-established food retail infrastructure, and availability of a wide range of products across different distribution channels. Moreover, the presence of consumers with high per-capita income is also driving the demand for frozen food, such as frozen meals and snacks. According to a report published by the CBI Ministry of Foreign Affairs in 2023, a total of 32,738.65 tons of freshly cut and frozen sweet potato products were imported into the UK in 2021. Thus, the rising import and consumption volume of pre-processed sweet potatoes indicates the mature market for processed sweet potatoes in Europe, which provides strong growth potential to the frozen sweet potato hash brown and tater shots market.

Industry Developments and Future Opportunities: 

Various initiatives taken by key players operating in the global frozen sweet potato hash brown and tater shots market are listed below:

1. In June 2019, Conagra Brands Inc opened its new sweet potato processing plant in Delhi, India. The plant produces products for the Sweet Things line, which includes sweet potato fries, wedges, puffs, and mashed sweet potatoes. The plant also produces Alexia brand sweet potato products.
2. In December 2021, McCain Foods acquired a small stake in Strong Roots. The investment enabled Strong Roots to expand its footprint in existing markets, including the UK, Ireland, and the US, and enter new markets. The deal allowed Strong Roots to expand into the food service market through McCain's out-of-home channel.
3. In May 2022, B&G Foods, Inc acquired the frozen vegetable manufacturing operations of Growers Express, LLC. The acquisition reduced supply chain risk and costs for certain Green Giant frozen products. The acquisition also enhanced innovation efforts for the Green Giant brand and improved the speed to market for innovation.

The regional trends and factors influencing the Frozen Sweet Potato Hash Brown and Tater Shots Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Frozen Sweet Potato Hash Brown and Tater Shots Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Frozen Sweet Potato Hash Brown and Tater Shots Market Report Scope

Frozen Sweet Potato Hash Brown and Tater Shots Market Players Density: Understanding Its Impact on Business Dynamics

The Frozen Sweet Potato Hash Brown and Tater Shots Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Covid-19 Impact:

The COVID-19 pandemic affected economies and industries in various countries across the globe. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the food & beverages industry. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and sales of various essential and nonessential products. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Consumers started panic-buying due to lockdowns and travel bans. They stocked their pantries which initially increased the demand for snacking and munching items such as frozen sweet potato hash brown and tater shots. Later, however, due to a shortage of raw materials and labor, manufacturers could not meet the demand, which hampered their profitability and created product shortages. However, in 2021, as governments of various countries announced relaxation of several restrictions such as lockdowns, travel bans, and trade barriers, the marketplace witnessed recovery. The manufacturers of frozen sweet potato hash brown and tater shots could operate at full capacity, which helped them to overcome the demand-supply gap. Online grocery shopping trends emerged rapidly as consumers enjoyed shopping remotely during lockdowns. This factor is expected to boost the frozen sweet potato hash brown and tater shots market during the forecast period.

Competitive Landscape and Key Companies:

Some of the prominent players operating in the global frozen sweet potato hash brown and tater shots market include Lamb Weston Holdings Inc, J.R. Simplot Company, Handy Food Innovation Ltd, Dr. Praeger's Sensible Foods LLC, B&G Foods Inc, and Conagra Brands Inc. among others. hese companies focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have a widespread global presence, which provides them to serve a large set of customers and subsequently increases their market share.