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

The global Frozen Potato market reached a value of US$ 62,753.12 million in 2021. Looking forward, the global Frozen Potato market to reach a value of US$ 83,889.18 million by 2028, exhibiting a CAGR of 4.2% during 2021-2028.

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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 fresh potato with the help of advanced machinery at a very low temperature.

Asia-Pacific is expected to grow at the fastest CAGR in the global frozen potato market over the forecast period. In terms of volume, the region accounted for a market share of more than 15% in 2021. The major factors fueling the market are changing consumer taste preferences and growing demand for processed food and the availability of numerous product variants. Also, the growing demand for frozen potatoes in the snack category due to the rising preference for convenience food or on-the-go light snacks is projected to propel the market growth over the forecast period.

Moreover, an increasing population from emerging economies such as India, China, and Japan provides a broad consumer base for the frozen potato market in Asia-Pacific. Consumers in developed and developing Asian countries such as Australia, China, and India are engaged in their professional lives; therefore, they are gradually shifting their preference toward convenience food, which reduces their cooking time and provides them instant food. Thus, increasingly busy urban lifestyles in Asia-Pacific have resulted in consumers opting for convenient food that does not expend time for cooking or preparation. The rising preference for ready-to-eat meals is fueling the growth of the frozen potato market.

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Impact of COVID-19 on Frozen Potato Market:

The COVID-19 pandemic has brought unprecedented challenges across various industries, including the global food & beverages industry. Due to lockdowns, travel bans, and shutdown of manufacturing plants, the supply chains were severely disrupted, which led to a decline in sales. Moreover, the manufacturing sector faced a shortfall in product supply because of raw materials and labor shortages. However, the frozen potato market witnessed steady growth due to the increased demand for frozen food because it retains nutrition for a longer period 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.

Market Insights:

Expansion of Quick Service Restaurants
The fast-food and quick service restaurants have now become the need of the hour for the consumers. These restaurants provide mass-produced foods that have been attracting an increasing number of people to these restaurants. These restaurants are becoming more and more popular due to the convenience they offer and the good taste of the food. Also, they are economical in terms of money and time. Fast food and quick service restaurants are on the rise because they cater to the consumers' changing needs. Consumers now want convenience and quick service with their food. Quick service restaurants cater to the need of the consumers as they offer sit and dine, along with numerous services such as drive-thru, takeout, and home delivery, which suits the modern lifestyle of the consumers. Due to the growth and expansion of these quick-service restaurants or QSRs, the demand for frozen potatoes has also increased. Products like frozen French fries, hash browns, and shaped and stuffed/topped potatoes are mostly demanded by the QSRs because frozen potato requires less preparation time and is easy to use. This helps the QSRs to provide the consumers with their food quickly, which is the main strength of the quick-service restaurants.

Frozen Potato Market - by Product
• French Fries
• Hash Brown
• Shaped
• Mashed
• Battered/Cooked
• Topped/Stuffed
• Others

Frozen Potato Market - by End User
• Residential
• Commercial

Company Profiles
• 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
• Farm Frites International B.V.

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.