Frozen Potato Market to Reach USD 83,889.18 Million by 2028, and Fueled by Rising Preference for Ready-to-Eat Meals

Rising Demand for French Fries and Quick Service Restaurants is Expected to Drive the Frozen Potato Market

NEW YORK, NEW YORK, UNITED STATES, March 2, 2023 /EINPresswire.com/ -- The scope of the study, titled "Global Frozen Potato Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Product (French Fries, Hash Brown, Shaped, Mashed, Battered/Cooked, Topped/Stuffed, and Others) and End User (Residential and Commercial)," involves understanding the factors responsible for the growth of the frozen potato market, along with estimates and forecast of the revenue and market share analysis and highlighting the significant market players and their key developments.

The global frozen potato 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. Frozen potatoes contain different vitamins and nutrients in natural preserved form and have a long shelf life. They also contain Vitamin B6, fiber, magnesium, and antioxidants. Frozen potato is made from 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 brown, 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 the consumers globally due to the convenience in cooking and taste.

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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 a high customer traffic. Therefore, companies distribute their products through different retail channels to enhance sales. Moreover, these stores have modern storage facilities which keep the frozen potato fresh. Thus, the high consumer traffic in various commercial stores is projected to increase the segment’s growth during the forecast period. In the coming years, advancements in cold chain infrastructure are projected to create profitable growth opportunities for the frozen potato market.

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.

Frozen Potato Market Breakdown – by Region

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 geography, the frozen potato market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM).

Key players in the global 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.

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The size of the overall global frozen potato market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, external consultants, valuation experts, research analysts, and key opinion leaders specializing in the frozen potato market.

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