Introduction
Frozen potatoes are a versatile, convenient, and economical option for any kitchen. Whether you’re in the mood for chips, fries, or hash browns – frozen potatoes are here to save the day. This article will explore what frozen potatoes are and why they are a great addition to your grocery list.
Frozen potatoes come in many different forms and can be prepared in minutes with minimal effort. From diced onions to French fries with seasoning – there is an option to suit any recipe. Frozen potatoes also have several health benefits compared to their fresh counterparts; they contain fewer calories, less fat, more fiber and Vitamin C than regular potatoes, making them an excellent choice when looking for healthy alternatives.
Potatoes are the main staple food, followed by wheat, corn, and rice. They are the fourth most common food in the world, after rice, wheat, and corn. They are easy to prepare and can be bought at a QSR (Quick Service Restaurant) or homes via retail.
The 2018 Global Frozen Potatoes Market was valued at USD 41.25 billion and is forecast to grow at 4.1% CAGR between 2019-2028.
Read More: “Frozen Potato Market Booms: What’s Driving the Trend?”
Drivers
Increasing global population
The growing population is the main reason for the market’s success. The increasing population means a rise in food demand and increased cultivation of food crops and grains. Potatoes are a popular food item in India, Pakistan, and Bangladesh.
Research and development
More research and development spending in developed countries will lead to lucrative market growth opportunities. Research and development activities focusing on potatoes’ nutritional composition are also helping boost market growth.
Increased awareness of the many benefits
Potatoes’ many health benefits drive market growth. The high levels of fiber, starch, and carbohydrates in potatoes help keep the stomach full for longer. Antioxidants, which are key components of potatoes, help to prevent disease.
Restraints
High costs for research and development will impede the market growth
Market risks include rising obesity rates and heart disease from excessive junk food consumption. In the 2022-2031 forecast period, high prices and the availability of healthier alternatives will challenge the market.
Target market growth can be severely hindered by high-cost transportation and storage costs. Developed and developing nations emphasize health and eat healthier foods like fruits and vegetables. This can reduce the demand for frozen potato products. Their growth will be limited by the high cost of frozen potato products and the low temperatures they are kept at.
Frozen potatoes include key players such as Ore-Ida, Alexia foods, Waitrose Limited, Market pantry, McCain Foods, Walmart, Podravka, ARPICO, Homebrand, Anwell, Sadia, Lutosa, Aldi. Market.us include details like key acquisitions & mergers, company financials, and frozen potatoes market footprint in their report. Furthermore, it covers frozen potato’s drivers, restraints, opportunities, and market trends, as well as market share. The frozen potatoes market’s PEST analysis and PORTER’S five forces analysis also covered Frozen potatoes.
Suggested Reading: How Is the Processed Potatoes Market Booming?
Key Market Trends:
The rapid development of technology has led to fast food becoming a popular choice. A growing number of restaurants offering quick service and fast food will support the market for frozen potatoes.
Market growth will also be driven by rising urbanization, rising disposable income, and increasing demand for convenience foods. Market growth will slow due to the rising demand for high temperatures and prices. Due to increased demand for freshly prepared foods and changing food habits, the forecast period will see an increase in frozen potato demand. This should provide ample market opportunities.
Recent developments:
- Himalaya Food and B.K Dist. signed an agreement. In December 2021, Himalaya Food signed an agreement with B.K Dist. Co-Operative Milk Producer and AMUL for frozen potato processing products at Vadnagar Plant in India.
- ConAgra Foods, Inc. announced that it would expand operations at its Richland plant in June 2016. It also announced it would expand its french fry processing line.
- ConAgra Foods announced a partnership agreement in June 2016 with Meijer Frozen Foods (a Dutch-based company). Both companies signed an agreement to acquire the Russian market via Belaya Dacha. This partnership will bring together knowledge and skills to meet the growing Russian demand.
- McCain invested in the first Brazilian frozen french fry factory in July 2021. McCain Foods is a major manufacturer of french fries and potato specialties. The company intends to increase its presence in Brazil through investment in the factory.
