Report : North America Frozen Potato Market Forecast to 2030 - Regional Analysis - by Product Type (French Fries, Hash Brown, Shaped, Mashed, Battered/Cooked, Topped/Stuffed, and Others) and End-User (Residential and Commercial)
At 4.8% CAGR, the North America Frozen Potato Market is speculated to be worth US$ 33,031.90 million by 2030 says Business Market Insights
According to Business Market Insights research, the North America frozen potato market was valued at US$ 23,733.53 million in 2023 and is expected to reach US$ 33,031.90 million by 2030 registering a CAGR of 4.8% from 2023 to 2030. Expansion of quick service restaurants (QSRS) and rising demand for convenience food are the critical factors attributed to the North America frozen potato market expansion.
There is a surge in demand for frozen food due to the rising purchasing power and growing consumer preference toward ready-to-eat convenience food items. The preference for ready-to-eat, microwavable, and ready-to-prepare food products is rising significantly as they are highly suitable for on-the-go consumption and require minimal preparation time. The number of dual-income families in developed countries such as the US like others is rising substantially. People find it hard to manage work as well as household chores due to lack of time. Therefore, they prefer to eat out or consume ready-to-eat products that require minimal preparation and cooking efforts. In addition, the number of single or two-person households are growing in various developed nations such as the US and Canada etc. According to the 2020 Current Population Survey, there were 36.1 million single-person households in the US, accounting for 28% of all households. As a result of the growing number of one or two-person families, the demand for ready-to-eat, portion-controlled foods has risen. Frozen food products are also growing in demand as they have an extended shelf-life, are suitable for single-person consumption, and can be prepared in very less time. According to the 'Power of Frozen' report published by the American Frozen Food Institute and Food Industry Association, frozen food sales in the US increased by 21% in 2020. Thus, the rising consumption of convenience food is driving the demand for frozen potato products. Frozen potato satisfies this need of the consumers and is readily available in retail outlets or stores as well as various fast-food chains, hotels, and quick-service restaurants. The rise in the number of retail outlets, convenience stores, and supermarkets has increased the availability of ready-to-eat food, propelling the frozen potato industry to new heights. Fast-food franchises such as McDonald's, Wendy's, Johny Rocket, KFC, Burger King, and Hardy’s substantially impact the North America frozen potato market. Frozen potatoes give the same benefits and taste as fresh potatoes but have a longer shelf life, which is boosting the market growth. Furthermore, foods such as French fries and wedges are becoming increasingly popular, particularly among children and youth, which is catalyzing the growth of the frozen potato market.
On the contrary, increasing preference for fresh and natural products hampers the North America frozen potato market.
Based on product type, the North America frozen potato market is segmented into French fries, hash brown, shaped, mashed, battered/cooked, topped/stuffed, and others. The French fries segment held 72.5% share of North America frozen potato market in 2023, amassing US$ 17,207.07 million. It is projected to garner US$ 24,198.93 million by 2030 to expand at 5.0% CAGR during 2023–2030.
Based on end-user, the North America frozen potato market is divided into residential and commercial. The commercial segment held 78.4% share of North America frozen potato market in 2023, amassing US$ 18,617.92 million. It is projected to garner US$ 26,074.71 million by 2030 to expand at 4.9% CAGR during 2023–2030.
Based on country, the North America frozen potato market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 73.6% share of North America frozen potato market in 2023. It was assessed at US$ 17,468.74 million in 2023 and is likely to hit US$ 24,070.35 million by 2030 exhibiting a CAGR of 4.7% during 2023–2030.
Key players operating in the North America frozen potato market are Agristo NV, Aviko B.V., Bart’s Potato Company, Greenyard, Himalaya Food International Ltd, J.R. Simplot Company, Lamb Weston Holdings Inc, Mccain, and The Kraft Heinz Co, among others.
- In 2021, Lamb Weston Holdings, Inc. upgraded its Idaho, The US fries plant with investment of $415 million.
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