New York, United States, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The Global Frozen Potatoes Market Size is to Grow from USD 59.8 Billion in 2022 to USD 104.3 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast period.
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Frozen potatoes are a versatile and convenient food product that has gained immense popularity worldwide. These frozen potato products encompass a wide range of options, including french fries, hash browns, potato wedges, and more. They are typically made from high-quality potatoes that are harvested, cleaned, and processed before being frozen to lock in their freshness. Frozen potatoes offer consumers a quick and hassle-free way to enjoy the delicious taste and texture of potatoes without the need for extensive preparation. Whether used as a side dish, snack, or ingredient in various recipes, frozen potatoes have become a staple in many households, restaurants, and fast-food chains.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the “Global Frozen Potatoes Market Size, Share, and COVID-19 Impact Analysis, By Product (Potato Fried, Potato Wedges, Stuffed Potatoes, Potato Slices, Potato Chunks, Potato Dices, Baked Potato, Others), By Distribution Channel (Offline and Online), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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In 2022, the ready meals segment accounted for around 41.7 market share
On the basis of the product, the global frozen potatoes market is segmented into fruits & vegetables, potatoes, ready meals, meat, fish/seafood, and others. The ready meals segment has secured the largest revenue share in the market due to its alignment with modern consumer preferences and lifestyle demands. Ready meals, which often incorporate frozen potato products as a convenient side dish or ingredient, have gained prominence as they cater to busy individuals seeking quick and hassle-free dining solutions. In today's fast-paced world, the demand for pre-packaged, microwaveable, and easy-to-prepare meals has surged. These ready meals offer a diverse range of options, including frozen dinners, microwaveable bowls, and frozen pizza, and they often include frozen potato items like fries or mashed potatoes, making this segment a significant contributor to the market's revenue.
The online segment is expected to grow at a CAGR of around 5.4% during the forecast period
Based on the distribution channel, the global frozen potatoes market is segmented into offline and online. The online distribution channel is poised for rapid growth during the forecast period due to the increasing digitalization of retail and changing consumer behavior, driven by the convenience of online shopping, which has bolstered the popularity of purchasing frozen potato products and ready meals through e-commerce platforms. The COVID-19 pandemic accelerated the shift towards online grocery shopping, creating a sustained preference for this channel. Additionally, the vast assortment of frozen potato products available online, combined with the ease of doorstep delivery, appeals to a broader customer base.
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Asia-Pacific is predicted to grow at a fastest CAGR of around 5.6% over the projected period
Based on region, Asia Pacific stands out as the fastest-growing market in the forecast period for the rapid economic development, urbanization, and an expanding middle-class population have led to changing dietary habits and an increasing demand for convenient and processed foods. As a result, frozen potato products have found a growing consumer base in Asia Pacific, driven by the rising popularity of fast food, Western-style dining, and the convenience of frozen options. Furthermore, foodservice industry expansion, changing consumer lifestyles, and the penetration of global fast-food chains have significantly boosted the demand for frozen potatoes in the region, making it a key growth driver in the forecasted period.
North America has emerged as a dominant player in the global frozen potatoes market, making the largest contribution due to various factors. The region's significant share is primarily attributed to the widespread popularity of frozen potato products, particularly french fries and potato wedges, as staple items in the diets of North Americans. Additionally, the presence of well-established fast-food chains and quick-service restaurants that serve these products has fueled demand.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global frozen potatoes market include Unilever PLC, Nestle S.A., General Mills, Inc., Nomad Foods Ltd., Tyson Foods Inc., Conagra Brands Inc., Wawona Frozen Foods, Bellisio Parent, LLC, The Kellogg Company, and The Kraft Heinz Company.
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Recent Developments
- In March 2021, The frozen food division of Fortenova was purchased by Nomad Foods. The agreement for the sale of the aforementioned firm includes Ledo Plus, Ledo Citluk, Frikom, as well as numerous other minor linked businesses.
- In April 2021, Amazon created Aplenty, a private-label food and snack brand with hundreds of goods including frozen meals, pita chips, crackers, small biscuits, and sauces. These meals will be offered online and in-store at Amazon Fresh, increasing product visibility among customers.
- In January 2023, Potato Cheezz, a revolutionary plant-based product that tastes and looks like cheese and is salt-free, fat-free, and lactose-free, as well as an ecologically beneficial, animal-friendly, and safe invention, was launched by Aviko, a Dutch potato processor. The company hoped to use this to broaden its product offering and strengthen its commercial position.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global frozen potatoes market based on the below-mentioned segments:
Frozen Potatoes Market, By Product
- Potato Fried
- Potato Wedges
- Stuffed Potatoes
- Potato Slices
- Potato Chunks
- Potato Dices
- Baked Potato
- Others
Frozen Potatoes Market, By Distribution Channel
- Offline
- Online
Frozen Potatoes Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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