Frozen Potatoes Market Overview
To understand industry trends, new entrants or disruption for frozen potatoes as well as consumption occasion trends. The information will be used to bid for a market landscape study of the frozen potato market.
Overview of Industry Trends, New Entrants or Disruption
1) World Market
- Worldwide, the frozen potato industry will be worth $74 billion by 2025, growing since 2018 at a CAGR of 3.8%.
- Frozen potatoes are available in various forms including french fries, hash browns, mashed, sweet and stuffed.
- French fries is the main category of frozen potatoes with close to $31 billion market share by 2025, and a CAGR of 4.2% during the 2018-2025 forecast period.
- It is equivalent to around 40% of the total market.
- Frozen potatoes are either consumed at fast foods or by customers at home.
- Changes in lifestyles are acting as positive drivers for the industry.
- Sales worldwide are being driven by an increase of women participating in the labor market, which results in less time to make meals, and an increase of young professionals leaving alone and an acceptation of western lifestyle.
2) North America
- In North America, the frozen potato market was worth $15 billion in 2018 and is predicted to grow at a CAGR of 3.8% to reach $18 billion by 2023.
- The best-selling frozen potato products in North America are french fries, sweet, and cooked potatoes.
- Frozen potato wedges sales are expected to grow up to 2022.
- Canada is one of the leading countries in the production of frozen french fries.
- The country exports the majority of its production of frozen potato products.
- Most of the exports are destined to the U.S.
- 60% of Canada's potato production is processed, and 65% of processed potatoes are used to produce frozen potato products.
- Canadians consume around 6.5kg of frozen potato products each year per person.
- This demand was estimated to grow by 1% in 2018/2019, this flat level being explained by a trend of health consciousness to reduce the consumption of french fries.
- "Innovation and Developments in Global Frozen Processed Potatoes" published in January 2020.
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