Portland, OR, June 23, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global frozen potato market was estimated at $57.15 billion in 2018 and is expected to hit $74.40 billion by 2025, registering a CAGR of 3.8% from 2019 to 2025. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Increase innumber of quick service restaurants and high disposable income of people augment the growth of the global frozen potato market. On the other hand, high cost associated with frozen potato products hampers the market growth to some extent. However, growth in demand in emerging economies expected to create an array of opportunities in the industry.
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- Due to the global lockdown, the market has witnessed decrease in sales of processed potatoes, as hotels and restaurants have been closed and tourism has been restricted.
- In addition, according to world potato congress, the COVID measure taken by the government have severely impacted the product value chain.
- Moreover, based on the condition, several regions have allowed export limitation, under which essential food items are getting delivered.
Based on type, the French fries segment contributed to nearly two-fifths of the total market revenue in 2018, and is anticipated to rule the roost by the end of 2025. In addition, this segment is projected to manifest the fastest CAGR of 4.2% throughout the forecast period. Othe segments analyzed in this report include hash brown, shapes, mashed, sweet potatoes/yam, battered/cooked, twice baked, topped/stuffed, and others.
Based on end-user, the commercial segment accounted for more than four-fifths of the global market share in the year 2018, and is expected to dominate during the study period. At the same time, this segment would portray the CAGR of 3.9% till 2025. The report also analyses residential segment.
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By geography, Asia-Pacific held the lion’s share in 2018, accounting for around two-fifths of the total market share, and is anticipated to lead the trail from 2018 to 2025. Furthermore,the region would showcase at the fastest CAGR of 4.3% during the period. The report also analyzes the market across Europe, North America, and LAMEA.
The key market players analyzed in the global frozen potato market report include 11er Nahrungsmittel GmbH, Albert Bartlett and Sons, Alexia Foods, American Lorain, ASTRA Food Processing Plant Company, Procesadora Andina de Papa S.R.L. (Pa&Pa), Al-Salam Cooling Co., Pohjolan Peruna Oy, Ningxia Yujing Food Co. Ltd., Meade Potato Company, Manohar International Private Limited, Marvel Packers, and Bem Brasil Alimentos LTDA.
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