Frozen Potato Market to Garner $83,889.18 million, Globally, by 2028 at 4.2% CAGR: The Insight Partners

Global Frozen Potato Market rising demand for convenience food, increasing demand in Asia-Pacific, and the use of innovative technology.

NEW YORK, UNITED STATES, October 19, 2022 /EINPresswire.com/ -- According to The Insight Partners’ research, the "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.

Strategic Insights

Report Coverage Details

Market Size Value in: US$ 62,753.12 million in 2021
Market Size Value by: US$ 83,889.18 million by 2028
Growth rate: CAGR of 4.2% from 2021 to 2028.
Forecast Period: 2021- 2028
Base Year: 2021
No. of Pages: 208
No. of Tables: 125
No. of Charts & Figures: 100
Historical data available: Yes
Segments Covered: Product and End User
Regional scope: North America; Europe; Asia Pacific; Latin America; MEA
Country scope: US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Frozen potatoes contain different vitamins and nutrients in naturally preserved form and have a long shelf life. They also contain Vitamin B6, fiber, magnesium, and antioxidants. Frozen potato is made by processing fresh potato with the help of advanced machinery at a very low temperature.

In terms of product, the frozen potato market is segmented into french fries, hash browns, shaped, mashed, battered/cooked, topped/stuffed, and others. The french fries segment is projected to grow at the fastest CAGR over the forecast period due to the rising demand from quick-service restaurants. As fast-food and quick-service restaurants are on the rise, the demand for frozen french fries is also increasing worldwide. French fries are amongst the major products consumed by consumers globally due to their convenience in cooking and taste.

Geographically, the global frozen potato market is segmented into five regions — North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM). North America held the largest share of the global frozen potato market in 2020. Europe held the second-largest share of the global frozen potato market in 2020. The rapid growth of the frozen potato market in this region is primarily attributed to the expansion of fast-food and quick-service restaurants in this region. Furthermore, the increasing use of frozen potatoes as a food product is a major factor that is projected to boost the growth of the frozen potato market in Europe over the forecast period.

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In terms of end users, the frozen potato market has been classified into residential and commercial. The commercial segment accounted for a larger market share in 2020 and is expected to register a higher CAGR during the forecast period. The key end user of frozen potatoes is the commercials sector. The majority of the frozen potato companies have a very short supply chain, and they deliver the produce almost regularly to convenience stores and supermarkets, including Walmart and Wholefoods. Retail stores such as hypermarkets and supermarkets have high customer traffic.

Based on region, the frozen potato market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. North America held the largest share in the market in 2020, and Asia Pacific is expected to grow at a faster CAGR over the forecast period. The factors propelling the growth of the Asia Pacific frozen potato market include growing urbanization, improving lifestyles of people, rising per capita income, and increasing demand for convenience food. Moreover, the growing popularity of frozen potatoes across countries such as Japan, India, and China is also driving the regional market.

Frozen Potato Market: Competitive Landscape and Key Developments

Bart’s Potato Company, Aviko, Agristo NV, Lamb Weston Holdings, McCain Foods Limited, Farm Frites International, Greenyard, Himayala Food International, J.R. Simplot Company, and The Kraft Heinz Company among others are some of the key players operating in the global frozen potato market. These players are increasingly adopting strategies such as mergers and acquisitions and research and development to increase their geographical presence and consumer base globally.

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