Frozen Potato Market Forecast to 2030 - Global Analysis by Product Type (French Fries, Hash Brown, Shaped, Mashed, Battered/Cooked, Topped/Stuffed, and Others), End User (Residential and Commercial), and Geography

Frozen Potato Market Forecast to 2030 - Global Analysis by Product Type (French Fries, Hash Brown, Shaped, Mashed, Battered/Cooked, Topped/Stuffed, and Others), End User (Residential and Commercial), and Geography

The frozen potato market size is projected to grow from US$ 65.06 billion in 2022 to reach US$ 92.63 billion by 2030; it is expected to register a CAGR of 4.6% from 2022 to 2030.

The popularity of sweet potato products such as frozen hash browns and tater shots has increased in the last few years due to increasing awareness of the nutritional value and health benefits of sweet potatoes. Sweet potatoes are a rich source of fiber, vitamins, minerals, and antioxidants. They have lower glycemic index than white potatoes which do not elevate the blood sugar level. Frozen potatoes are widely consumed in quick service restaurants and school cafeterias and institutions. They are also available across supermarket shelves and convenience stores. The availability of various brands of products across various retail as well as foodservice channels is expected to boost the frozen potato market growth over the forecast period.

The cold chain, which consists of pre-cooling, refrigerated storage, and refrigerated transport, is one of the pillars of the postharvest handling chain. It is regarded as the backbone of any postharvest industry (developed or developing) and an essential set of technologies for reducing food losses. In addition, cold chain logistics have proven to be a critical necessity for any country seeking to enhance its frozen food market share. Cold chain infrastructure has increased significantly in recent years. For instance, according to the International Institute of Refrigeration (IIR) and the Global Cold Chain Alliance (GCCA) report, the total capacity of refrigerated warehouses globally increased to 719 million cubic meters in 2020 which is 16.7% greater than the capacity reported in 2018. Major market service providers are constantly improving their technologies to stay ahead of the competition and maintain efficiency, integrity, and safety across the globe. For instance, vendors have implemented Hazard Analysis and Critical Control Points (HACCP) and RFID technology to improve efficiency with smaller shipments. In addition, they are expanding their multi-compartment refrigerated vehicle fleets to provide additional services to consumers. Thus, advancements in cold chain infrastructure are emerging as a lucrative opportunity for the frozen potato market players.

Based on product type, the frozen potato market is segmented into French fries, hash brown, shaped, mashed, battered/cooked, topped/stuffed, and others. The French fries segment accounted for the largest share of the frozen potato market in 2022 and is expected to register the highest CAGR during the forecast period. According to National Geographic, the average American eats nearly 30 pounds of French fries each year. Frozen French fries are available in various sizes and shapes, including thin shoestring fries, curly fries, waffle fries, wedge-cut fries, crinkle-cut fries, and thick steak-cut fries. They can be added to numerous cuisines including burgers or hamburgers, green chile adobado poutine, waffle potato appetizers, tater tots, sandwiches, etc. The rising demand for convenience food is driving the demand for French fries over the forecast period.

Geographically, the frozen potato market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, North America held the largest share of the frozen potato market, and Asia Pacific is estimated to register the highest CAGR over the forecast period. The frozen food industry in Asia Pacific has experienced a huge shift over the years. The development of cold chain infrastructure such as logistics and warehouses is providing strong growth potential to the manufacturers of frozen food to expand their footprints in Asia Pacific. According to National Centre for Cold Chain Development (NNCCD), currently, there are total of 7,645 cold storages in India with 34 million metric tonnes of capacity. Thus, the presence of robust cold storage facilities in the developing Asia Pacific countries is driving the growth of the 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, and The Kraft Heinz Co. are among the key players operating in the frozen potato market. These companies offer a wide range of products for the frozen potato market. The huge presence of these companies across the globe is likely to provide them a growth opportunity to serve a large customer base and increase the market share. These market players are highly focused on developing innovative products to serve their customers better.

The overall frozen potato market size 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 of this process include industry experts such as VPs; business development managers; market intelligence managers; national sales managers; and external consultants, including valuation experts, research analysts, and key opinion leaders, specializing in the frozen potato market.

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