The frozen sweet potato hash brown and tater shots market size is projected to grow from US$ 113.33 million in 2022 and is projected to reach US$ 171.66 million by 2030; it is expected to register a CAGR of 5.4% from 2023 to 2030.
The popularity of sweet potato products such as frozen hash browns and tater shots has increased in the last few years due to increasing awareness of the nutritional value and health benefits of sweet potatoes. Sweet potatoes are a rich source of fiber, vitamins, minerals, and antioxidants. They have lower glycemic index than white potatoes which do not elevate the blood sugar level. Frozen sweet potato hash brown and tater shots are widely consumed in quick service restaurants and school cafeterias and institutions. They are also available across supermarket shelves and convenience stores. The availability of various brands of products across various retail as well as foodservice channels is expected to boost the frozen sweet potato hash brown and tater shots market growth over the forecast period.
The growing adoption of a plant-based diet has prompted manufacturers to develop healthy and nutritious plant-based alternatives to conventional frozen food products such as hash brown and tater shots. For instance, in 2022, B&G Foods Inc launched three distinct frozen products?Green Giant Restaurant Style sides, Green Giant Zucchini Tots, and Green Giant Veggie Spiral Skillets, thus extending its product line of frozen snacks and appetizers. B&G Foods Inc also offers Green Giant Veggie Tots, positioned as a healthy alternative to tater shots and French fries. The Veggie Tots consist of sweet potato as a major ingredient, along with cauliflower. Similarly, in 2021, Tyson Foods Inc launched a new line of plant-based products under the brand First Pride in certain retail markets and e-commerce platforms across Asia Pacific; its plant-based frozen food products included frozen bites, nuggets, and strips. Thus, the growing inclination toward plant-based frozen food has prompted manufacturers to expand product offerings, which is expected to fuel the frozen sweet potato hash brown and tater shots market growth during the forecast period.
Based on end use, the frozen sweet potato hash brown and tater shots market is segmented into residential and commercial. The commercial segment accounted for the largest share of the frozen sweet potato hash brown and tater shots market in 2022, and the residential segment is expected to register the highest CAGR during the forecast period. The rising trend of dining out and takeaway services is driving the demand for quick-snacking items such as sweet potato hash brown and tater shots. People prefer eating out with family and friends to spend some quality time. The preference for sweet potato tater puffs and hash brown is increasing among consumers as they are flavorful, crunchy, and perfect for small treats. Food service operators prefer using frozen sweet potato hash brown and tater shots as they are easy to make and help them save cooking time. Due to the rising fast-food trend, food service operators face challenges related to rapid turnaround time. Frozen snacks require minimal preparation as they just need to be fried or baked. Moreover, they have a high shelf life when stored at optimum temperature conditions. Thus, all the factors mentioned above are driving the growth of frozen sweet potato hash brown and tater shots market.
Geographically, the frozen sweet potato hash brown and tater shots market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, North America held the largest share of the frozen sweet potato hash brown and tater shots market, and Europe is estimated to register the highest CAGR over the forecast period. The demand for convenience food products and frozen ready meals for on-the-go consumption has been growing for the past few years. European consumers are also inclined toward the consumption of nutritious & organic frozen snacks and appetizers. Further, frozen snack producers have rapidly adapted to changing consumer preferences for convenience food. Also, food manufacturers are focused on investing in cold chain infrastructure to enhance the efficiency of the frozen food supply chain. The growing demand for convenience frozen food is expected to fuel the frozen sweet potato hash brown and tater shots market during the forecast period.
Lamb Weston Holdings Inc, J.R. Simplot Company, Handy Food Innovation Ltd, Dr. Praeger's Sensible Foods LLC, B&G Foods Inc, and Conagra Brands Inc are among the key players operating in the frozen sweet potato hash brown and tater shots market. These companies offer a wide range of products for the sweet potato hash brown and tater shots market. The huge presence of these companies across the globe is likely to provide them a growth opportunity to serve a large customer base and increase the market share. These market players are highly focused on developing innovative products to serve their customers better.
The overall frozen sweet potato hash brown and tater shots market size has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs; 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 sweet potato hash brown and tater shots market.