The global frozen potato market size is anticipated to cross a valuation of US$ 60,887 million in 2023. It is predicted to attain a valuation of US$ 104,348.9 million by 2033. The market is foreseen to record a CAGR of 6% from 2023 to 2033.
Customers have a simple and time-saving choice in frozen potatoes. They are a convenient option for busy people or families since they remove the process of peeling, chopping, and preparing raw potatoes. To make cooking frozen potatoes easier, these potatoes are frequently pre-cut into different shapes like French fries, wedges, or chopped potatoes.
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Products made from frozen potatoes may also have some health advantages. For instance, certain frozen potato products can be a rich source of fiber and other nutrients while being low in fat and salt. As a result, they are a better choice for customers who are managing their diet or trying to find quick and wholesome meal alternatives.
Vegan alternatives to traditional animal-based meals are in higher demand as interest in plant-based diets grows. Products made from frozen potatoes are frequently used as a flexible basis for vegan recipes. For instance, frozen fries can be used as a side dish for vegan burgers or to make loaded vegan nachos. The sales of frozen potato products have benefited from the need for plant-based alternatives.
Food producers and companies have expanded their product lines in response to the rising demand for vegan cuisine to meet the needs of this expanding customer group. As a result, new and inventive vegan frozen potato products have been developed, including plant-based adaptations of traditional potato snacks and prepared dinners. The market for frozen potatoes has grown as a result of the increase in vegan choices available.
Key Takeaways from Frozen Potato Market:
- The global frozen potato market size expanded at a CAGR of 2.4% from 2018 to 2022.
- In 2018, the global market size stood at US$ 53,321.9 million.
- The market size accounted for US$ 58,545.50 million in 2022.
- In 2022, the potato fries segment held a 42.3% market share.
- In 2022, the commercial use segment captured around 83.6% share.
- B2B distribution channel segment held a 73.6% market share in 2022.
- Germany held a significant share of more than 10.1% in 2022.
- In 2022, India captured 9.8% shares in the global market.
Recent Developments Observed by FMI:
- Amul announced its intent to introduce frozen potato products in India in November 2022. Hash browns, potato wedges, French fries, and hamburger patties are the most likely forms in which the items are going to be introduced.
- The Tolochin Cannery in Belarus inaugurated a line in January 2022 to produce frozen, partially done French fries. Such products have never before been produced in the nation.
- McCain Foods Limited declared in April 2021 that it has decided to localize manufacturing in Russia with a US$ 150 million investment. To offer clients processed French fries and other specialty potato snacks. The objective is to lessen Russia’s dependency on imported frozen foods.
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Market Segmentation
By Product Type:
- Potato Fried
- Potato Wedges
- Stuffed Potatoes
- Potato Slices
- Potato Chunks
- Potato Dices
- Baked Potato
- Others
By End-user:
- Commercial Use
- Residential Use
By Distribution Channel:
- B2B
- B2C
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Retail Stores
- Online Retail
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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