(MoneyNewsWire.Net, November 14, 2017 ) According to the report Frozen Potatoes Market, published by Market Data Forecast, the Global market is projected to reach USD 63.9 billion by 2022, at a CAGR of 3.9% from 2017 to 2022.
Freezing food increases its shelf life and this method is in practice from a long time. Freezing the food slows the decomposition by changing the residual moisture into ice thereby inhibiting the growth of harmful bacterial species. These type of potatoes are treated with very low temperatures for preservation and protection of the nutrients.
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Frozen Potatoes Market: Drivers & Restraints
The market is driven by the factors like increasing business of quick service restaurants in the developed and developing regions, increasing disposable income in emerging nations, increasing urbanization and shifting consumer focus towards fast foods and processed foods. Some of the QSRs responsible for the growth of market are McDonalds, Burger King, Subway, Dunkin Donuts, etc.
Conversely, factors like expensive prices of frozen potato products and high maintenance costs are hindering the growth of market.
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Frozen Potatoes Market: Segmentation
By Product Type
• French Fries
• Hash Brown
• Sweet Potatoes
• Twice baked
By End User
• North America
o United States
o South Korea
• Latin America
o Rest of Latin America
• Middle East & Africa
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Frozen Potatoes Market: Overview
Based on product, French fries and hash browns are the segments holding the major share in the market due to the major factors like high popularity for French fries in the fast foods segment and also the increasing variations to these type of food products by QSRs to attract a wide range of people. Also, mashed potatoes are expected to grow the fastest due to their use in preparation of several food products and in convenience foods.
Regionally, North America dominated the Frozen Potatoes market due to high populations of fast food consuming individuals and increasing demand for processed foods. Also, Asia Pacific is projected to grow the fastest due to increasing demand for QSR products in many countries and increasing demand developing countries of India, China and Japan.
Frozen Potatoes Market: Key Players
Some of the key Frozen potatoes Market leaders are McCain Foods, Lamb-Weston, J.R. Simplot Company, Aviko, Bart's Potato Company, Agrarfrost GmbH & Co. KG, Agristo NV, H.J. Heinz Company, Himalya International Ltd., and TaiMei Potato Industry Limited.
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