Frozen Potato Market Size Projected To Reach 92,630.12 Million and Growing at a CAGR of 4.6% By 2030 | The Insight Partners

According to The Insight Partners new research study titled "Frozen Potato Market to Forecast 2030 - COVID-19 Impact and Global Analysis - by Product Type and End User," the market size is projected to grow from US$ 65,063.77 million in 2022 to reach US$ 92,630.12 million by 2030; it is expected to register a CAGR of 4.6% from 2023 to 2030.

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Potatoes are among the major staple food products and is consumed either as fresh or in processed form. Over the past few years, people's lifestyle has changed dramatically. They are spending most of their time in their offices and workplaces. Therefore, due to lack of time, they prefer ready-to-eat and instant products that require minimum cooking time and efforts.

This factor is expected to significantly drive the frozen potato market globally. Also, younger population and children love snacking during their leisure. Frozen potatoes are widely consumed by children and younger people due to their crispy texture and availability of different products with a variety of flavors and shapes. These factors are also driving the growth of frozen potato market.

The List of Companies - Frozen Potato Market
• Bart's Potato Company
• Aviko B.V.
• Agristo NV
• Lamb Weston Holdings Inc
• Mccain
• Farm Frites International B.V.
• Greenyard
• Himalaya Food International Ltd
• J.R. Simplot Company
• The Kraft Heinz Co.

Based on product type, 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. Geographically, the frozen potato market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

Fast-food and quick-service restaurants have now become the need of the hour for consumers. Due to the fast-paced lifestyle, people are increasingly prioritizing convenience. Moreover, due to the rising number of dual-income families and single-person households, people do not get enough time to focus on their personal lives. Therefore, they seek products that offer them convenience and help save time and effort.

Fast-food restaurants and quick-service restaurants (QSRs) offer mass-produced products in no time, offering huge convenience to the consumers. These restaurants are gaining popularity because they offer a variety of food in less time and at affordable prices. Consumers now want convenience and quick service. 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 QSRs, the demand for frozen potatoes has also increased. Products such as 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 consumers with their food quickly, which is the main strength of the QSRs. Thus, the expansion of fast-food restaurants and QSRs is significantly driving the frozen potato market growth.

The COVID-19 pandemic adversely impacted various industries, including the food & beverages industry. Due to nationwide lockdown and border restrictions, there was a significant disruption of supply chain. Raw material and labor shortages created operational difficulties for food processors across various countries. However, the trends for frozen food consumption changed drastically because of the COVID-19 pandemic. People were mandated to stay home due to strict travel restrictions.

The corporate sector also announced work from home mandates. Owing to all these factors, people preferred in-home consumption. This factor increased the demand for frozen potato from the retail sector, which had a positive impact on the overall frozen potato market growth.

However, cafes, restaurants, quick service restaurants, and takeaway services were mandated to remain shut, leading to a decline in the demand for various snacking and breakfast items, including frozen potato products.

As government restrictions were relaxed, the manufacturers of frozen potato witnessed recovery in their sales. Also, as the foodservice operators started working with full capacity, the demand for snacking items increased, which positively impacted the frozen potato market growth.

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