Market Research Report
Asia Pacific Frozen Potato Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product (French Fries, Hash Brown, Shaped, Mashed, Battered/Cooked, Topped/Stuffed, and Others) and End-User (Residential, and Commercial
|Asia Pacific Frozen Potato Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product (French Fries, Hash Brown, Shaped, Mashed, Battered/Cooked, Topped/Stuffed, and Others) and End-User (Residential, and Commercial|
Published: November 17, 2020
The Insight Partners
Content info: 79 Pages
Delivery time: 1-2 business days
The APAC frozen potato market was valued at US$ 12,182.98 million in 2019 and is projected to reach US$ 16,915.07 million by 2027; it is expected to grow at a CAGR of 4.3% from 2020 to 2027.
Potato is one of the major staple foods consumed either in fresh or processed condition. Frozen potato is made by processing the fresh potato with the help of advanced machinery at low temperature. Various food items are made conveniently by using frozen potatoes, as it takes less preparation time. They contain Vitamin B6, fiber, magnesium, and antioxidants in naturally preserved form and have a long shelf life.
Based on product, the APAC frozen potato market is segmented into French fries, hash brown, shaped, mashed, battered/cooked, topped/stuffed, and others. The French fries segment led the frozen potato market in APAC with the largest share in 2019. Frozen French fries have high demand at quick service restaurants as they are easily made with reduced preparation time. The expansion of fast food and quick service restaurants across APAC propels the demand for frozen French fries, which subsequently leads to the rising demand for frozen potatoes in the region.
Geographically, the APAC frozen potato market is segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC. In 2019, China contributed to the largest share in the APAC frozen potato market. The dietary preferences and patterns of Chinese consumers are changing with the rapidly transforming lifestyle. Additionally, the rising disposable income of consumers drives the demand for processed food products such as frozen potato. Also, China is among the leading producers of potatoes; thus, an easy availability of raw material boosts the production of frozen potato in the country. However, the growing awareness about the risks associated with the high consumption of potatoes hampers the growth of the frozen potato market in China.
The COVID-19 pandemic was first reported in Wuhan, China, in December 2019. As of October 2020, India, China, and Australia are among the worst-affected countries in terms of COVID-19 confirmed cases and reported deaths. The outbreak is adversely affecting economies and industries across various countries in APAC due to lockdowns, travel bans, and business shutdowns. The food & beverages industry is facing serious disruptions such as office and factory shutdown, and supply chain breaks due to this outbreak.
Bart's Potato Company; Aviko B.V.; Agristo NV; Lamb Weston Holdings, Inc.; McCain Foods Limited; Farm Frites International B.V.; Greenyard; Himalaya Food International Ltd.; J.R. Simplot Company; and The Kraft Heinz Company are among the players operating in the APAC frozen potato market.
The overall APAC frozen potato market size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the APAC frozen potato market.
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