The Global Frozen Potato Market size is expected to reach $88 billion by 2030, rising at a market growth of 4.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 23,453.1 Kilo Tonnes experiencing a growth of 4.9% (2019-2022).
Battered and cooked frozen potato products provide versatility in culinary applications. They can serve as a base for various dishes, from appetizers to main courses. Therefore, Battered/Cooked segment generated $2,800.7 million revenue in the market in 2022. Whether used as crispy potato wedges, battered fries, or other innovative forms, these products cater to diverse tastes and preferences, making them a valuable addition to the freezer aisle for households and food service establishments. These factors will boost the demand in the segment. Some of the factors impacting the market are shift towards more fast-paced lifestyles, growing food service industry around the world and negative perception of processed foods.
Frozen potatoes eliminate the time-consuming tasks associated with traditional potato preparation. Consumers can bypass peeling, cutting, and parboiling steps, as frozen potato products come pre-cut and ready to cook. This time efficiency resonates with individuals seeking quick and straightforward meal preparation solutions, especially during busy weekdays. Frozen potatoes offer a consistent quality that can be challenging to achieve with fresh potatoes, especially considering variations in potato types and seasonal availability. Additionally, Consumer preferences for dining out, ordering takeout, and using food delivery services have evolved. The convenience of preparing and serving meals by professionals aligns with modern lifestyles. Consumers are willing to allocate more of their budgets to eating out, seeking a variety of culinary experiences, and contributing to the growth of the food service industry. Therefore, these aspects will drive the expansion of the market in the coming years and thus, these aspects will pose lucrative growth prospects for the market.
However, Concerns about the use of added preservatives and other additives in frozen potato products contribute to the perception of these items as less healthy. Some consumers are wary of ingredients not commonly found in home-cooked meals and may associate them with potential health risks. High sodium content in certain frozen potato products, especially seasoned fries or other flavored varieties, is a common concern. Excessive sodium intake is associated with health issues such as hypertension and cardiovascular diseases. Health-conscious consumers may opt for fresh potatoes or alternatives with lower sodium levels. These factors are expected to limit the growth of the market.
Based on product type, the market is divided into french fries, hash brown, shapes, mashed, sweet potatoes/yam, battered/cooked, topped/stuffed, and others. In 2022, the sweet potatoes/yam segment witnessed a substantial revenue share in the market. The frozen sweet potato/yam segment has witnessed growth through the introduction of diverse product offerings. Fries, wedges, tots, and pureed sweet potatoes are among the frozen sweet potato products manufacturers have incorporated into their product lines. This diversity caters to consumer preferences and provides options for incorporating sweet potatoes into different meals. These aspects will help in the expansion of the segment.
On the basis of end user, the market is divided into commercial and residential. In 2022, the residential segment witnessed a substantial revenue share in the market. As modern lifestyles become busier, consumers seek convenient and time-saving meal solutions. Frozen potato products, such as pre-cut fries, wedges, and hash browns, offer a hassle-free alternative to peeling, chopping, and preparing fresh potatoes. The convenience factor has significantly contributed to the growth of the residential segment, especially among households with time constraints. Therefore, the segment will grow rapidly in the coming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 61 Billion |
| Market size forecast in 2030 | USD 88 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 4.8% from 2023 to 2030 |
| Number of Pages | 312 |
| Number of Table | 590 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product Type, End User, Region |
| Country scope |
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| Companies Included | McCain Foods Limited, Lamb Weston Holdings, Inc., Cooperatie Koninklijke Cosun U.A. (Royal Cosun), Greenyard NV, General Mills, Inc., Mondelez International, Inc., The Kraft Heinz Company, The Hain Celestial Group, Inc., Himalaya Food International Ltd., and J.R. Simplot Company |
| Growth Drivers |
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| Restraints |
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By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment acquired the highest revenue share in the market. As urbanization continues and lifestyles become more fast-paced, there is an increasing demand for convenient and time-saving food options. Frozen potatoes, offering quick and easy preparation, align well with the changing consumer preferences in the Asia Pacific region. Economic growth in many countries within the Asia Pacific region has caused an increase in disposable income. As a result, consumers are more willing to spend on convenience foods, including frozen potato products, contributing to increased demand. Thus, there will be increased growth in the segment.
Free Valuable Insights: Global Frozen Potato Market size to reach USD 88 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include McCain Foods Limited, Lamb Weston Holdings, Inc., Cooperatie Koninklijke Cosun U.A. (Royal Cosun), Greenyard NV, General Mills, Inc., Mondelez International, Inc., The Kraft Heinz Company, The Hain Celestial Group, Inc., Himalaya Food International Ltd., and J.R. Simplot Company.
By End User (Volume, Kilo Tonnes, USD Billion/Million, 2019-2030)
By Product Type (Volume, Kilo Tonnes, USD Billion/Million, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion/Million, 2019-2030)
This Market size is expected to reach $88 billion by 2030.
Shift towards more fast-paced lifestyles are driving the Market in coming years, however, Negative perception of processed foods restraints the growth of the Market.
McCain Foods Limited, Lamb Weston Holdings, Inc., Cooperatie Koninklijke Cosun U.A. (Royal Cosun), Greenyard NV, General Mills, Inc., Mondelez International, Inc., The Kraft Heinz Company, The Hain Celestial Group, Inc., Himalaya Food International Ltd., and J.R. Simplot Company.
In the year 2022, the market attained a volume of 23,453.1 Kilo Tonnes experiencing a growth of 4.9% (2019-2022).
The Commercial segment is generating the highest revenue in the Market, By End User in 2022; thereby, achieving a market value of $71.9 billion by 2030.
The Asia Pacific region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $33.4 billion by 2030.
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