DUBLIN–(BUSINESS WIRE)–The “Frozen Potato Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product and End User” report has been added to ResearchAndMarkets.com’s offering
The frozen potato market was valued at US$ 62,753.12 million in 2021 and is projected to reach US$ 83,889.18 million by 2028. It is expected to grow at a CAGR of 4.2% from 2021 to 2028.
Frozen potato contains different vitamins and nutrients in natural preserved form and has a long shelf life. It also contains vitamin B6, fiber, magnesium, and antioxidants. Frozen potato is made from processing fresh potato with the help of advanced machinery at a very low temperature.
In terms of end users, the frozen potato market has been classified into residential and commercial. The commercial segment accounted for a larger market share in 2020 and is expected to register a higher CAGR during the forecast period. The key end user of frozen potatoes is the commercials sector.
The majority of the frozen potato companies have a very short supply chain, and they deliver the produce almost regularly to convenience stores and supermarkets, including Walmart and Whole Foods. Retail stores such as hypermarkets and supermarkets have a high customer traffic. Therefore, companies distribute their products through different retail channels to enhance sales.
Moreover, these stores have modern storage facilities which keep the frozen potato fresh. Thus, the high consumer traffic in various commercial stores is projected to increase the segment’s growth during the forecast period. In the coming years, advancements in cold chain infrastructure are projected to create profitable growth opportunities for the frozen potato market.
Based on region, the frozen potato market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. North America held the largest share in the market in 2020. In terms of volume, the region is expected to register a consumption volume of 12,596.34 KT in 2028.
However, Asia Pacific is expected to grow with the fastest CAGR over the forecast period. The factors propelling the growth of the Asia Pacific frozen potato market include growing urbanization, improving lifestyles of people, rising per capita income, and increasing demand for convenience food.
Moreover, the growing popularity of frozen potatoes across countries such as Japan, India, and China is also driving the regional market.
Key players in the global frozen potato market include
- Bart’s Potato Company
- Avik- B.V.
- Agrist- Nv
- Lamb Weston Holdings, Inc.
- Mccain Foods Limited
- Farm Frites International B.V
- Greenyard
- Himayala Food International Ltd.
- J.R. Simplot Company
- The Kraft Heinz Company
Key Market Dynamics
Market Drivers
- Expansion of Quick Service Restaurants
- Rising Demand for Convenience Food
Market Restraints
- Increasing Preference for Fresh and Natural Products
Market Opportunities
- Advancement in Cold Chain Infrastructure
- Increasing Demand from Asia-Pacific
Future Trends
- Use of Innovative Technologies
For more information about this report visit https://www.researchandmarkets.com/r/6dy6rf.