Frozen Potato Market
Frozen Potato Market by Product (Frozen Potato Fries, Frozen Potato Wedges, Frozen Stuffed Potatoes, Frozen Potato Chunks, Frozen Potato Slices), by End-User (Commercial Use, Residential Use), by Distribution Channel (Modern Trade, Grocery Stores) & Region – Forecast to 2031
Frozen Potato Industry Analysis
Newly released data from the frozen potato market analysis shows that global demand enjoyed a year-on-year growth of 3.9% to reach US$ 57.8 Bn in 2021, up from US$ 55.5 Bn in 2020. Revenues in the frozen fries segment are likely to remain elevated, yielding over 2/5th of the market revenue, while sales across the modern trade segment is likely to total US$ 25 Bn.
|Market Size Value in 2021||US$ 57.8 Bn|
|Projected Market Forecast Value by 2031||US$ 103.5 Bn|
|Global Growth Rate (2021 to 2031)||6%|
Frozen Potato Demand Analysis 2016-2020 Vs Future Outlook 2021-2031
According to Fact.MR- a market research and competitive intelligence provider- sales of frozen potato products experienced an incline at around 5% value CAGR from 2016-2020. Sales are especially high across the frozen potato fries domain, given its widening popularity as an accompaniment to other fast foods. Simultaneously, demand for other frozen potato snacks such as wedges, slices and dices have also augmented significantly.
As the COVID-19 pandemic expanded its tentacles, demand for frozen food products and snacks augmented significantly, attributed to the imposition of strict lockdowns, preventing consumers from frequently visiting supermarkets or grocery stores to stock up on foodstuffs. This boded well for several categories of frozen potato products, including frozen potato chips and nuggets.
As people globally increasingly incline towards consuming plant-based fast foods, amid concerns over the adverse impact of meat consumption on the environment, sales of frozen potato products will elevate even further. According to Fact.MR, the market is anticipated to yield US$ 103.5 Bn by the end of the 2021-2031 forecast period, surging at a CAGR of 6%.
Will Increasing Global Potato Production Open New Doors for Frozen Potato Industry Expansion?
According to the Food & Agriculture Statistics (FAO Stat), global potato production was estimated at 388,191,000 tons in 2017. Both China and India are the leading potato producing countries, with output valued at 992 million tons and 486 million tons respectively. The vegetable is cultivated on almost all continents, and is the world’s 3rd most important food crop.
As global potato output inclines, it is providing food manufacturers with ample opportunities to introduce a broad range of potato based food products, including fresh and frozen, prompting a flurry of new product launches in the past several years. The main reason for increased consumption of frozen potato products is their high nutritional value.
For instance, the U.S Department of Agriculture points out that 100 grams of potatoes provides about 4% of the recommend dietary allowance (RDA) for calorie intake, 6% of the RDA for carbohydrates, 9% for dietary fiber, 4% of protein and 33% of RDA for vitamin C amongst other nutrient intake requirements.
How is an Increased Tilt towards Vegan Foods Spurring Frozen Potatoes Demand?
Plant based food has taken the world by storm. According to the Vegan Society, at least 2% of the global population identifies itself as vegan, over the past five years. This is largely an outcome of growing awareness about the ethical treatment of animals. Statistics suggest that an estimated 8 billion animals are slaughtered each year, while animal agriculture is responsible for 91% of the Amazon rain forest destruction.
Hence, people are increasingly drifting towards consumption of natural and plant-based fast foods and snacks, providing immense opportunities for frozen potato manufacturers to flourish. Moreover, several consumers have opined that existing plant-based food intake is insufficient to meet their nutrient requirements, with several of them apprehending that they have more calories and salt than nutrients.
In addition, potato based foods are a rich source of fiber, which help consumers check weight gain, and also keep cholesterol and blood sugar levels in check. Furthermore, potatoes are laden with antioxidants, and can also help prevent constipation and irritable bowel syndrome.
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How is Rising Fast Food Popularity Fueling Frozen Potato Sales in India?
According to Fact.MR’s recent report, the India frozen potato products industry is likely to surpass US$ 1 Bn by 2021-end, expected to grow at a 7% CAGR during the forecast period of 2021-2031. Growth is being impelled by the ever widening popularity of fast food joints and quick services restaurants, attributed to the prevalence of hectic, fast-paced lifestyles.
The Indian market for fast food surged by 18% over the past 5 years, with fast-food chains such as McDonald's, Wendy's, Subway, KFC, Burger King, and Dominos, among others, having a significant impact. Out of these fast food providers, KFC and McDonald's report that French Fries are their most popular selling fast food products, with the former reporting that 50% of its burger meals sold involve a serving of French Fries.
Furthermore, retail channels such as Big Bazaar and Spencer Retail report the snack to be the fastest RTE selling product. Moreover, global players such as McCain Foods have also reported an increase in the sale of French Fries across the Indian market. Besides French Fries, demand for other potato based dishes, such as Aloo Tikki and Aloo Chaat are also augmenting frozen potato sales across the country.
How is High Potato Yield Encouraging Frozen Potato Sales across Germany?
According to the German Agricultural Society (DlG), Germany produces 10-11 million tons of potatoes annually, rendering it the largest producer throughout the European Union. The sector generates an estimated € 3 billion annually, through sales across three main industries: food, industrial and seed potatoes respectively.
Area wise, potato cultivation takes place on more than 29,000 farms, with a combined area of nearly 250,000 hectares. The total area includes 20,000 small producers with under five hectares of cultivation, and 9,000 farms growing larger areas of the crop. Attributed to such elevated production levels, the market for frozen potato products is expected to flourish across Germany.
Numerous regional level manufacturers are active across the market in Germany. Prominent manufacturers include Ardo GmbH, Agrarfrost GmbH & Co. KG, Hilcona AG, Iglo GmbH Tiefkühlkost and Keck Spezialitäten GmbH among others. According to Fact.MR, the region will likely accelerate at a CAGR of 5% through 2031.
Will Frozen Potato Fries Remain the Top Selling Product Type?
By product, the frozen potato fries segment is likely to contribute around 41% revenue, reaching a revenue share of nearly US$ 19 Bn by 2022. Rising popularity of fast food and subsequent emergence of quick service restaurants (QSRs) have largely widened growth prospects.
The fries market also exhibits high growth potential due to the ability of key manufacturers to develop new products and variations to meet consumer preferences.
Commercial Sector to Emerge as a Heavyweight for Frozen Potato Sales?
The commercial sector is the primary end-user of frozen potatoes, with high market potential for investment due to rising demand and the expansion of QSRs in various countries. Commercially, frozen potatoes and related products are used in hotels, fast food chains, and quick-service restaurants (QSRs).
Because of their reduced preparation time and ease of use, these products are widely accepted on a commercial scale. Furthermore, many caterers are inclined to use frozen food due to the convenience provided by these products. Fact.MR forecasts the sector yield a US$ 3.5 Bn incremental opportunity, capturing 3/5th revenue
Modern Trade Preferred Distribution Route for Frozen Potato Products?
Based on distribution channel, frozen potato products are expected to be extensively sold through modern trade channels, including hypermarkets and supermarkets. A revenue share exceeding US$ 25 Bn is anticipated for the segment until 2031.
Modern trade channels will likely comprise 33% of total revenue generated, attributed to consumer preferences for visiting retail and wholesale outlets for purchasing instant food products. Furthermore, these stores are conveniently located, enabling buyers to frequently visit them.
An Adaptive Approach to Modern-day Research Needs
Prominent manufacturers of frozen potato products emphasize on augmenting their regional manufacturing and distribution capabilities by expanding their production units in lucrative regions. Furthermore, certain players offer a diverse range of products to cater to specific requirements.
- In April 2021, McCain Foods Limited announced it had decided to localize production in Russia to supply customers with processed French Fries and other specialty potato appetizers, for which the company has announced US$ 150 million in investment. The objective is to reduce Russia’s dependence on frozen food imports
- Bart’s Potato Company is a prominent frozen potato products manufacturers. The company offers four distinct categories of frozen French Fries- Shoestring, Straight Cut, Steakhouse and Crinkle Cut respectively
- Since 2016, American Lorain Corp. has been collaborating with TaiMei Potato Industry Ltd. in China. Under this agreement, the latter has agreed to manufacture Lorain’s brand of French Fries. TaiMei offers a range of frozen potato products, including straight cut fries, mashed potato and wedges
Frozen Potato Market- Report Scope
|Historical Data Available for||2016-2020|
|Market Analysis||US$ Mn for Value & ‘000 Units for Volume|
|Key Regions Covered||
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
Key Segments Covered
- Frozen Potato Fries
- Frozen Potato Wedges
- Frozen Stuffed Potatoes
- Frozen Potato Chunks
- Frozen Potato Slices
- Frozen Potato Dices
- Frozen Baked Potato
- Other Frozen Potato Types
- Frozen Potato for Commercial Use
- Frozen Potato for Residential Use
- Frozen Potato Sales via Modern Trade
- Frozen Potato Sales via Grocery Stores
- Frozen Potato Sales via Convenience Stores
- Online Frozen Potato Sales
- Frozen Potato Sales via Other Distribution Channels
Frozen Potato Market- Scope of Report
A recent study by Fact.MR on the frozen potato market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering frozen potato.
The study also provides the dynamics responsible for influencing the future status of the frozen potato market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the frozen potato market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of frozen potato across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of frozen potato during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative frozen potato markets?
- Which factors will impact growth of the frozen potato industry?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the frozen potato industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Estimates at global and regional levels for frozen potato are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.
Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global frozen potato market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the frozen potato market during the forecast period
Country-specific valuation on demand for frozen potato has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of frozen potato, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering frozen potato has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the frozen potato domain.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the frozen potato industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
As of 2021, the global frozen potato market is expected to reach US$ 57.8 Bn
According to Fact.MR, demand for frozen potatoes is anticipated to surge at a CAGR of 6%
From 2016-2020, frozen potato sales augmented at a CAGR of 5%
By 2031, the market for frozen potatoes is expected to accumulate US$ 103.5 Bn, according to Fact.MR
Increasing popularity of fast foods and quick service restaurants, combined with increased consumption of plant based foods is driving growth of frozen potato demand
As per Fact.MR’s analysis, frozen potato sales in Germany will likely augment at a CAGR of 5%
India is likely to emerge as one of the fastest growing frozen potato markets, clocking a 7% CAGR
Frozen fries are expected to be the most widely consumed, expected to be valued at US$ 19 Bn
Frozen potatoes for the commercial sector will be extensive, likely to generate a US$ 3.5 Bn incremental opportunity
Frozen potato sales are likely to remain extensive via modern trade channels, comprising 33% revenue
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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