The global market for frozen potato is estimated to bring in USD 60,109.5 million revenue by the end of 2022. According to the latest report by Fact.MR, the global frozen potato market is projected to register 4.0% CAGR during the forecast period 2017-2022.
The company has identified five major trends which will affect the market in the near future:
- Europe is expected to dominate the global frozen potato market. By the end of 2017, Europe frozen potato market is projected to account for nearly one-third of the revenue share. Increasing investment in new product development, rising consumer attraction towards fast food and presence of the major market players are some of the reasons contributing towards the growth of frozen potato market in Europe.
- North America is also expected to emerge as the second most lucrative market in the global frozen potato market. Products like French fries, sweet, and cooked potatoes are some of the fastest selling products in North America.
- Fries are expected to be the largest consumed frozen potato product. Fries are projected to exceed USD 18,900 million revenue by the end of 2022. Meanwhile, wedges as a frozen potato product are also expected to witness growth during the forecast period.
- The commercial sector is expected to be the largest end-user of the frozen potato and is projected to account for more than half of the revenue share by the end of 2017. Meanwhile, the residential sector is projected to create an incremental opportunity of over USD3,500 million between 2017 and 2022.
- Modern trade is expected to emerge as the largest distribution channel for frozen potato. By the end of 2022, modern trade is projected to exceed USD25,100 million revenue.
