(Entertainment-NewsWire.com, August 08, 2018 ) Frozen potatoes Market was worth USD 54.81 billion in 2018 and estimated to be growing at a CAGR of 3.9%, to reach USD 66.36 billion by 2023.Potato is one of the most important crops, consumed in fresh or processed forms globally. Frozen potato is a type of processed potato treated with extremely low temperatures up to their freezing point to achieve preservation and protection of the food and the existing nutrients. Frozen potato and related products are used at commercial level via quick service restaurants (QSRs) and domestic level through large scale & small scale retail stores.
The frozen potato market is mainly driven by the expanding business of quick service restaurants (QSRs) in the developing and the developed nations. Some of the highest QSRs contributing to the growth of frozen potato market include McDonald's, Burger King, Dunkin' Donuts, Subway, and more. Other factors driving the market are rise in disposable income of people in the emerging countries and increase in urbanization. However, high price of frozen potato products and need for constant low temperature is estimated to limit the market growth.
Frozen potatoes Market Segmentation by product and end user. By product the market is classified into French fries, hash brown, shapes, mashed, sweet potatoes, battered/cooked, twice baked, topped/ stuffed. French fries and hash browns are the most lucrative segment of the market. By end user the market is segmented into Residential and commercial.On the basis of geography, the market is analysed under various 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 Latin America.
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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