Last year, The Insight Partners has valued the frozen potato market size at USD62.75bn, which is projected to reach USD83.88bn by 2028, with a growth expectancy reaching a CAGR of 4.2% from 2021 to 2028.
According to the “Frozen Potato Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product (French Fries, Hash Brown, Shaped, Mashed, Battered/Cooked, Topped/Stuffed, and Others) and End User (Residential and Commercial)” report, the frozen potato market growth is driven by the rising demand for French fries, the expansion of quick-service restaurants, rising demand for convenience food, increasing demand in Asia-Pacific, and use of innovative technology.
“There is a surge in demand for frozen food due to the rising purchasing power and growing consumer preference toward convenience food items. This demand is increasing as the consumers are now leading a hectic lifestyle due to their increasing workload. Globally, there has been significant growth in the women’s employment rate, which in the US and China has reached 55.4% and 60.4%, respectively. As women’s employment is increasing, it becomes difficult for them to manage household work and office work. Due to this reason, the demand for convenience food like frozen products – which includes frozen potatoes, frozen meats, and frozen snacks – has increased in recent years,” the report reveals.
Moreover, there has been a substantial rise in the number of single-person households in recent years, which also contributes to the demand for convenience food. The rise in the number of retail outlets, convenience stores, and supermarkets has increased the availability of ready-to-eat food, propelling the frozen potato industry to new heights. Frozen potatoes give the same benefits and taste as fresh potatoes but have a longer shelf life, which is boosting the market growth. Furthermore, foods such as French fries and wedges are becoming increasingly popular globally, particularly among children and youth, which is catalyzing the growth of the frozen potato market.
