The frozen potato product market has witnessed a notable surge in demand, and convenience emerges as a pivotal driver, as modern households and urban lifestyles increasingly prioritize swift and hassle-free meal solutions.
Beyond convenience, the growing emphasis on health-conscious dietary choices has played a significant role in bolstering the popularity of frozen potato products.
Manufacturers have responded to this trend by introducing options with reduced sodium, lower fat content, and even organic varieties. Furthermore, advanced freezing techniques preserve the nutritional integrity of these products, offering consumers a blend of convenience and wholesome eating. With ongoing advancements in processing technology and an expanding product range, the demand for frozen potato products is poised to remain robust in the years ahead.
From 2023 to 2033, the size of the worldwide frozen potato market is predicted to rise significantly. Future Market Insights’ study report predicts that the global market will be worth more than USD60.8bn in 2023. By 2033, it’s estimated to be worth USD104.3bn. From 2023 to 2033, the industry is expected to grow at a startling CAGR of 6%. Producing countries for potatoes commonly export and freeze their surpluses to reduce waste and boost profitability.
The global demand for frozen potatoes has increased because of this trend. The foodservice industry, which includes restaurants, fast-food chains, and catering services, is typically responsible for the increase in demand for frozen potatoes. These eateries usually rely on the uniformity, practicality, and affordability of frozen potatoes to meet the enormous demand for potato-based meals like French fries, hash browns, and mashed potatoes. From 2018 to 2022, the size of the worldwide frozen potato market grew at a CAGR of 2.4%.
The size of the world market in 2018 was USD53.3bn. The market increased significantly over the ensuing years, reaching USD58.4bn in 2022. Foods like French fries and wedges have become more and more popular over the past few years, especially with kids and young adults. This is advancing the frozen potato industry. Consumers today are more health conscious and becoming more knowledgeable about the advantages of products made from potatoes. The high fiber content of foods made from potatoes aids consumers in maintaining a healthy weight by reducing cholesterol and blood sugar levels. Additionally, rich in antioxidants, potatoes can help prevent a variety of ailments. Meanwhile, the global french fries market is expected to increase at a compound annual growth rate (CAGR) of 6.9%, from USD13.37bn in 2022 to USD14.30bn in 2023, according to The Business Research Company’s French Fries Global Market Report 2023. With a compound annual growth rate of 6.7%, it is anticipated that this rising trend will continue, raising the market to USD18.54b in 2027.
The rising desire for ready-to-eat items, which are redefining convenience in the culinary world, is a major driver of the expansion of the french fry market. There is concentration in the worldwide french fry market, with a few leading companies setting the direction. In 2022, the market share of the top 10 competitors combined was 36.73% of the french fry market. With a commanding 44.8% of the global market share in 2022, North America led the french fry market, followed by Western Europe and other regions. South America and the Middle East are anticipated to have the fastest growing french fry markets.
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