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(MoneyNewsWire.Net, April 09, 2018 ) Potato is among the foremost consumed diets after maize, wheat and rice, globally. It is cultivated in one hundred twenty five countries and over a billion individuals consume it daily. Some consume fresh potatoes and others consume it in processed forms. To take care of hygiene, potatoes are stored in extraordinarily low temperature. Frozen potato based products are being utilized in restaurants, fast food shops, tiny & large-scale stores and others, in nearly every part of the planet. They have gained a great deal of attention within the recent years.
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Frozen potatoes Market was valued at USD 50.77 billion in 2016 and is expected to be growing at a CAGR of 3.9%, to approach USD 61.47 billion by 2021. The increasing urbanization and the growing demand for fast food are deemed to be the top growth promoting factors.
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The global frozen potato market is especially driven by the increasing business of fast food chains, primarily in the developing nations. Some of the highest contributing chains to the expansion of frozen potato market include Burger King, McDonald's, Subway, and more. French fries have been the foremost widely consumed frozen potato product globally followed by hash brown.
Introduction of latest flavors and merchandise have also contributed to its rising demand. Manufacturers have introduced differentiated products to stay competitive and garner higher market share. Like every different agricultural commodity, potato costs might also not be supported by policies, and have a tendency to adjust in response to production. As potato is often a season-dependent and semi-perishable crop, little changes in demand and supply cause comparatively high price fluctuations.
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On the premise of geography, the market is analyzed under varied regions namely North America, Europe, Asia-Pacific and rest of the world. The Frozen potatoes market was dominated by Asia Pacific registering the highest CAGR followed by North America.
The major market shareholding companies include McCain Foods Aviko, Bart's Potato Company, Lamb-Weston, J.R. Simplot Company, Himalya International Ltd., Agrarfrost GmbH & Co. KG, Agristo NV and H.J. Heinz Company.
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