Frozen Potato Market Rapidly Growing Dynamics with Industry Analysis 2031

Frozen potato market size was valued at $60.3 billion in 2021, and is estimated to reach $92.7 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

A rise in consumer spending, the increasing influence of food delivery services, the surge in the number of fast food restaurants, an increase in working age population, and rapid urbanization are some of the factors driving the demand for fast food, which in turn stimulates the expansion of the frozen potato market. Furthermore, the rising preference of the millennial population for ready-to-eat and ready-to-cook food is further likely to support the growth of the frozen potato market.

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Increase innumber of quick service restaurants and high disposable income of people augment the growth of the global frozen potato market. On the other hand, high cost associated with frozen potato products hampers the market growth to some extent. However, growth in demand in emerging economies expected to create an array of opportunities in the industry.

Frozen potatoes and their different products are obtained via the processing of fresh potatoes by using a variety of advanced machinery and incredibly low temperatures. These products are consumed via quick service restaurants (QSRs). The frozen potato market is segmented on the basis of product, end user, and region. The different products of frozen potato include French fries, hash brown, shapes, mashed, sweet potatoes/yam, battered/cooked, twice baked, topped/stuffed, and others.

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The rapid development of QSRs, such as McDonald's, Burger King, and Subway in emerging economies, such as China, India, and Argentina drives the global frozen potato market. Moreover, growth in demand for processed food in developing and developed nations, owing to their varied taste & flavor and high disposable income of people further boosts the market growth. However, the high costs associated with the products and the constant need for very-low temperatures are expected to impede market growth during the frozen potato market forecast. The developing economies of Asia-Pacific and LAMEA are expected to present growth opportunities for various players in the market.

The global frozen potato sector gets significantly boosted by the rise in popularity of quick service restaurants (QSRs), commonly referred to as fast food restaurants. In developed economies, QSRs are often associated with fast service, convenience, and inexpensive meals. Even while similar characteristics are present in emerging nations, the consumption of frozen potato products such as frozen pot French fries, tikki, wedges, and bites has an additional attraction. For instance, in certain emerging economies, this can entail consuming American or western cuisine on special occasions. Owing to their vast populations and increasing numbers of QSRs such as McDonald's, China and India saw a notable increase in the consumption of frozen potatoes. Furthermore, owing to the quick spread of QSRs such as McDonald's, Burger King, Wendy's, Subway, and Dunkin' Donuts, the demand for burger-and-fries meals has been rising steadily in emerging nations. Moreover, many nations around the world enjoy the British fish and chips that QSRs serve. These QSRs consume a lot of frozen potatoes for the meal's chips, contributing to the industry's continued expansion.

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Increased per capita income, dynamic changes in eating habits, and a rise in the popularity of fast food items are projected to support the expansion of the market. According to frozen potato market trends, the demand for frozen food is increasing day by day which is expected to create more opportunities for the manufacturer in the upcoming years. However, the development of the market is likely to be constrained by the adoption of a healthy lifestyle and growth in awareness of the health problems associated with eating fast food.

The frozen potato market is segmented into product type, end user, and region. On the basis of product type, the market is categorized into French fries, hash brown, shapes, mashed, sweet potatoes/yam, battered/cooked, topped/stuffed, and others. By end user, it is bifurcated into residential and commercial. The commercial segment is further segregated into full-service restaurants, quick-service restaurants, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).

The key market players analyzed in the global frozen potato market report include 11er Nahrungsmittel GmbH, Albert Bartlett and Sons, Alexia Foods, American Lorain, ASTRA Food Processing Plant Company, Procesadora Andina de Papa S.R.L. (Pa&Pa), Al-Salam Cooling Co., Pohjolan Peruna Oy, Ningxia Yujing Food Co. Ltd., Meade Potato Company, Manohar International Private Limited, Marvel Packers, and Bem Brasil Alimentos LTDA.

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