McCain Foods, one of the top key players of the market makes almost one third of all the frozen French fries produced globally. However, high price of frozen potato products and need for constant low temperature is estimated to limit the market growth.
Portland, OR -- (SBWIRE) -- 08/23/2017 -- Allied Market Research recently published a report titled "Frozen Potato Market by Product and End User- Global Opportunity Analysis and Industry Forecast, 2017–2023" which gives an in-depth knowledge and estimation of the global frozen potato market for the forecast period. The report presents a comprehensive analysis of the current market trends, revenue generated, and also the top investment pockets are a part of this extensive report. The key drivers, opportunities, and threats faced by the key players are analyzed to gauge the scope of the market. The patent analysis by year, region, and the company is carried out to give a deeper understanding of the products, technology, and service development process involved.
According to the detailed study carried out by Allied Market Research, the global frozen potato market is estimated to gain $66,597 million by 2023, from its value of $50,755 million in 2017. The market is expected to grow at a compound annual growth rate of 3.9% in the forecast period 2017–2023. The demand for frozen potato products is high. The potatoes are frozen up to their freezing point to retain their nutritional value and also to preserve them. The most popular variants of frozen potato products are French fries followed by hash browns.
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There is a rapid growth in the number of quick service restaurants (QSRs) like McDonald's, Burger King, and Subway. In developing countries, consumers have high disposable income in hand owing to the rapid commercialization and urbanization taking place in these countries. In spite of the growing popularity, the high price point of the frozen potato products hinders the growth of the global market. In addition to the high price, these products have to be stored at constant low temperatures thus increasing the efforts to be taken and also the cost.
The global frozen potato market is segmented based on product type, end user, and geography. Frozen potatoes are available in a wide range of products such as French fries, hash browns, shapes, mashed, sweet potatoes/yam, battered/cooked, twice baked, topped/stuffed, and many other variants. The end users segment comprises of two types of users- residential users and commercial users. Geographically, the presence of the market in North America, Europe, Asia-Pacific, and LAMEA are studied and presented in the report. The market size and forecast specific to the product type, end-users, and region are a part of this detailed study.
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Profiles and the winning strategies adopted by the leading players in the market have been meticulously studied and contained within the report. The key players in the market consist of McCain Foods, Lamb-Weston, J.R. Simplot Company, Aviko, Bart's Potato Company, Agrarfrost GmbH & Co. KG., Agristo NV, H.J. Heinz Company, Himalaya International Ltd., and TaiMei Potato Industry Limited.
Key points to be considered
- The study provides a detailed information of the global frozen potato market supported by vital statistics, tables, and images to aid in the better understanding of the market.
- McCain Foods produces almost one-third of the french fries produced globally.
- The commercial sector is the most lucrative option for the potential investors due to the rise in demand of QSRs in different countries.
- Mexico is expected to exhibit a CAGR of 3.6% while growing from 2,711 kilotons in 2016 to 3,480 kilotons of frozen potato by 2023.
- Competitive and market intelligence facilitates in understanding the market scenario, competitor's strategies and also the opportunities across the geographies.