Frozen Potato Market Report By Insights, Size, and Growth - 2031

The frozen potato market is anticipated to expand from US$ 67.46 billion in 2023 to US$ 98.02 billion by 2031, reflecting a compound annual growth rate (CAGR) of 4.8% during the period from 2023 to 2031.

In recent years, there has been a notable rise in the demand for sweet potato products, including frozen hash browns and tater shots, driven by growing awareness of their nutritional benefits. Sweet potatoes are packed with fiber, vitamins, minerals, and antioxidants, and they have a lower glycemic index compared to white potatoes, making them a healthier option that does not spike blood sugar levels. Frozen potato products are widely consumed in quick-service restaurants, school cafeterias, and various institutions. They are also readily available in supermarkets and convenience stores. The diverse range of brands and products available through multiple retail and foodservice channels is expected to significantly contribute to the growth of the frozen potato market in the coming years.

The cold chain, which encompasses pre-cooling, refrigerated storage, and transport, is a fundamental component of the postharvest handling process. It is considered the backbone of any postharvest industry, whether in developed or developing regions, and is crucial for minimizing food waste. Furthermore, effective cold chain logistics are essential for any nation aiming to increase its share in the frozen food market. Recent years have seen substantial advancements in cold chain infrastructure. For example, a report from the International Institute of Refrigeration (IIR) and the Global Cold Chain Alliance (GCCA) indicated that the global capacity of refrigerated warehouses reached 719 million cubic meters in 2020, marking a 16.7% increase from 2018. Leading service providers in the market are continuously enhancing their technologies to maintain competitiveness and ensure efficiency, safety, and integrity worldwide. For instance, many vendors have adopted Hazard Analysis and Critical Control Points (HACCP) protocols and RFID technology to streamline operations, especially for smaller shipments. Additionally, they are expanding their fleets of multi-compartment refrigerated vehicles to offer more services to consumers. Consequently, improvements in cold chain infrastructure present lucrative opportunities for players in the frozen potato market.

The frozen potato market is categorized by product type into several segments, including French fries, hash browns, shaped potatoes, mashed potatoes, battered or cooked varieties, topped or stuffed options, and others. The French fries segment dominated the market in 2023 and is projected to experience the highest CAGR throughout the forecast period. According to National Geographic, the average American consumes nearly 30 pounds of French fries annually. Frozen French fries come in various shapes and sizes, such as thin shoestring fries, curly fries, waffle fries, wedge-cut fries, crinkle-cut fries, and thick steak-cut fries.

Geographically, the frozen potato market is divided into regions including North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2023, North America held the largest market share, while the Asia Pacific region is expected to exhibit the highest CAGR during the forecast period. The frozen food sector in Asia Pacific has undergone significant transformation over the years. The enhancement of cold chain infrastructure, including logistics and storage facilities, is providing substantial growth opportunities for frozen food manufacturers to expand their operations in the region. According to the National Centre for Cold Chain Development (NNCCD), India currently has 7,645 cold storage facilities with a total capacity of 34 million metric tonnes. Thus, the robust cold storage infrastructure in developing countries within the Asia Pacific is a key driver of the frozen potato market's growth.

Key players in the frozen potato market include Bart's Potato Company, Aviko B.V., Agristo NV, Lamb Weston Holdings Inc, McCain, Farm Frites International B.V., Greenyard, Himalaya Food International Ltd, J.R. Simplot Company, The Kraft Heinz Co., Agrarfrost GmbH & Co KG, Rairandev Golden Fries Pty Ltd, Albert Bartlett & Sons (Airdrie) Ltd, Godrej Agrovet Ltd, and Kipco Damaco NV. These companies provide a diverse array of products within the frozen potato sector. Their extensive global presence offers significant growth opportunities to cater to a large customer base and enhance market share. These market participants are highly focused on innovating their product offerings to better meet customer needs.

The overall size of the frozen potato market has been determined through a combination of primary and secondary research methods. The research process began with comprehensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, national sales managers, and external consultants, including valuation experts, research analysts, and key opinion leaders specializing in the frozen potato market.