Frozen Potato: The Delicious Convenience Food
What are the various frozen potato products?
Frozen potato products include frozen French fries, frozen wedges, baked potato chips, whole frozen baked potatoes, frozen mashed potatoes, Lattice/Basket Weave Cuts, and Hash brown patties, among others. These products are a part of convenience foods and are easy to prepare. In recent years, the demand for these products has been on the rise owing to various factors such as changing food consumption habits, increasing demand for convenience foods, and busy lifestyle, among others. The frozen potato products are made from fresh potatoes.
Commercial Sector Expected to Play a Crucial Role in the Growth of the Frozen Potato Market
The adoption of frozen potato products has witnessed significant growth in the commercial sector in recent years. In the commercial sector, hotels, restaurants, fast-food restaurants, and quick service restaurants are the major buyers of frozen potato products. The expansion of QSRs in recent years has been drastic, a factor contributing to the increasing demand for frozen potato products. As these products are gaining wide acceptance among consumers, therefore are finding increased demand in restaurants. Moreover, as it takes less time to prepare these products, it acts as a viable option for the commercial sector.
Asia Pacific Frozen Potato Industry Outlook
The demand for frozen potatoes has skyrocketed across the world in recent years. The Asia Pacific mainly contributed by India and China, and India has remained at the forefront in this context. Busy lifestyle, coupled with changing food habits, have led to the increasing demand for convenience food in the region. The market for frozen potatoes is far from reaching saturation in the region and expected to investment opportunities for the frozen potato manufacturers. The burgeoning hypermarkets and supermarkets in the region have further helped the frozen fries market to flourish in the region.
Increasing demand for convenience foods is one of the most prominent factors driving the frozen potato market growth. Moreover, the delicious taste associated with most of the frozen potato products further contributes towards this growth. The busy lifestyle of people has opened a plethora of revenue streams for convenience foods, a factor complimenting the demand for frozen potatoes. Moreover, an increasing number of fast-food restaurants and quick service restaurants are driving the growth of the market. These factors are contributing to the increase in the frozen potato market size.
Key Companies Outlook
The manufacturers in the frozen potato industry in order to thrive in the competitive market are adopting multiple strategies. These strategies include new product development, geographic expansion, and mergers, and acquisitions. For instance, recently McCain launched a range of craft beer-battered fries. The three flavors, namely Pale Ale, Session IPA and Golden Ale – bring modernity, new flavor, and sophistication to the frozen chip category. Similarly, in Jun 2017, Lamb Weston, a supplier of frozen potato and vegetable products, introduces Grown In Idaho, a new brand of crispy fries and potato products. The product line-up included seven new frozen potato varieties. In 2018, Patanjali Ayurved Ltd introduced a new frozen French fries in the market. Some of the leading players operating in the market include Bart’s Potatoo Industry, Agrarfrost GmbH & Co. KG, Coöperatie Koninklijke Cosun U.A., Agristo NV, Greenyard NV, J.R. Simplot Company, Farm Frites, Himalaya International Ltd., Lamb-Weston (Taipei Potato Industry Limited), McCain Foods, and The Kraft Heinz Company. The Frozen Potato top 10 companies are competing amongst themselves to improve their frozen potato market share.