Increase in number of quick service restaurants and high disposable income of people augment the growth of the global frozen potato market.
PORTLAND, OR, UNITED STATES, October 22, 2020 /EINPresswire.com/ — Frozen Potato Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,"the global frozen potato market was valued at $54,955 million in 2017 and is projected to reach $74,403 million by 2025, registering a CAGR of 3.8% from 2018 to 2025.
Increase in number of quick service restaurants and high disposable income of people augment the growth of the global frozen potato market. 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 expected to create an array of opportunities in the industry.
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• Due to the global lockdown, the market has witnessed decrease in sales of processed potatoes, as hotels and restaurants have been closed and tourism has been restricted.
• In addition, according to world potato congress, the COVID measure taken by the government have severely impacted the product value chain.
• Moreover, based on the condition, several regions have allowed export limitation, under which essential food items are getting delivered.
Based on type, the French fries segment contributed to nearly two-fifths of the total market revenue in 2018, and is anticipated to rule the roost by the end of 2025. In addition, this segment is projected to manifest the fastest CAGR of 4.2% throughout the forecast period. Othe 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.
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By geography, Asia-Pacific held the lion’s share in 2018, accounting for around two-fifths 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. The report also analyzes the market across Europe, North America, and LAMEA.
The key market players analyzed in the global frozen potato market report include 11er Nahrungsmittel GmbH, Albert Bartlett and Sons, Alexia Foods, American Lorain, ASTRA Food Processing Plant Company, Procesadora Andina de Papa S.R.L. (Pa&Pa), Al-Salam Cooling Co., Pohjolan Peruna Oy, Ningxia Yujing Food Co. Ltd., Meade Potato Company, Manohar International Private Limited, Marvel Packers, and Bem Brasil Alimentos LTDA.
Potato is a major staple, ranked fourth in terms of global production after wheat, rice, and maize. It is consumed either as fresh potatoes or processed potatoes on a commercial and residential scale. Frozen potatoes are among the main types of processed potatoes and are highly convenient and flexible in terms of preparation time, containing different nutrients & vitamins in naturally preserved form with long shelf life.
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Key Findings of the Frozen Potato Market:
• Based on product type, French fries was the highest contributor to the global frozen potato market accounted for about 40% of the total market share and is projected to witness the highest CAGR in terms of revenue during the forecast period.
• Asia-Pacific is expected to be the dominant shareholder of the global market in 2025, due to high growth rate of population and frozen potato products demand over there.
• Frozen French fries occupied the highest market with almost half of the frozen potato market share in 2017, and is expected to grow at a decent CAGR of 4.2% during the forecast period.
• Based on end user, the commercial segment is expected to lead in terms of demand for frozen potato products with a lucrative CAGR of 3.9% in the forecast period.
• Hash brown is anticipated to be the second highest growing product segment of global frozen potato market at a lucrative CAGR from 2017 to 2025, in terms of value.
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Source: EIN Presswire