The global frozen potato market was estimated at USD57.15bn in 2018 and is expected to hit USD74.40bn by 2025, registering a CAGR of 3.8% from 2019 to 2025, according to a report published by Allied Market Research, the business-consulting wing of Allied Analytics LLP.
Increase in number of quick service restaurants and high disposable income of people augment the growth of the global frozen potato market. Due to the global lockdown, the market has witnessed decrease in sales of processed potatoes. On the other hand, high cost associated with frozen potato products hampers the market growth to some extent. However, growth in demand in emerging economies is expected to create an array of opportunities in the industry.
By geography, in 2018 Asia-Pacific accounted for around two-fifth of the total market share and is anticipated to lead the trail from 2018 to 2025. Furthermore, the region would showcase at the fastest CAGR of 4.3% during the period.
Based on type, the French fries segment contributed to nearly two-fifths of the total market revenue in 2018, and is anticipated to manifest the fastest CAGR of 4.2% throughout the forecast period. Other segments analyzed in this report include hash brown, shapes, mashed, sweet potatoes/yam, battered/cooked, twice baked, topped/stuffed, and others. Based on end-user, the commercial segment accounted for more than four-fifths of the global market share in the year 2018, and is expected to dominate during the study period. At the same time, this segment would portray the CAGR of 3.9% till 2025. The report also analyses residential segment.