Preserved Frozen Potato Market

The global market for frozen potatoes prepared or preserved is forecasted to continue growing with an anticipated CAGR for both consumption volume and market value from 2022 to 2030. The article analyzes trends in consumption, production, imports, and exports, highlighting key countries' performance in the market. In 2022, the market saw fluctuations in consumption, production, imports, and exports, with notable growth rates in certain countries. The article provides detailed insights into trends and growth patterns in the global market for frozen potatoes prepared or preserved.

Market Forecast

Driven by increasing demand for frozen potatoes prepared or preserved worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market volume to 29M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.8% for the period from 2022 to 2030, which is projected to bring the market value to $39.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Frozen Potatoes (Prepared Or Preserved)

In 2022, approx. 24M tons of frozen potatoes prepared or preserved were consumed worldwide; with a decrease of -5.9% against 2021. The total consumption volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak volume of 25M tons, and then shrank in the following year.

The global preserved frozen potato market revenue contracted to $27.2B in 2022, reducing by -1.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the global market attained the peak level at $27.7B in 2021, and then fell modestly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (5.5M tons), the United States (3M tons) and India (2.2M tons), with a combined 45% share of global consumption. The UK, Russia, Brazil, Germany, Turkey, France, Iran, Ethiopia, Egypt and Japan lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +4.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($7B) led the market, alone. The second position in the ranking was taken by the United States ($3.5B). It was followed by India.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +2.9%. In the other countries, the average annual rates were as follows: the United States (+1.5% per year) and India (+2.0% per year).

In 2022, the highest levels of preserved frozen potato per capita consumption was registered in the UK (18 kg per person), followed by the United States (9 kg per person), Russia (8.5 kg per person) and France (7.7 kg per person), while the world average per capita consumption of preserved frozen potato was estimated at 3 kg per person.

In the UK, preserved frozen potato per capita consumption increased at an average annual rate of +1.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (+0.6% per year) and Russia (+2.4% per year).

Production

World Production of Frozen Potatoes (Prepared Or Preserved)

In 2022, the amount of frozen potatoes prepared or preserved produced worldwide dropped to 24M tons, declining by -5.4% compared with the previous year's figure. The total output volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when the production volume increased by 16%. As a result, production attained the peak volume of 26M tons, and then shrank in the following year.

In value terms, preserved frozen potato production shrank slightly to $25.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 18% against the previous year. Global production peaked at $26.1B in 2021, and then fell slightly in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (5.6M tons), Belgium (3M tons) and the United States (2.6M tons), with a combined 46% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Belgium (with a CAGR of +7.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Frozen Potatoes (Prepared Or Preserved)

Global preserved frozen potato imports rose rapidly to 8.6M tons in 2022, surging by 8% on 2021. The total import volume increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 12%. Over the period under review, global imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, preserved frozen potato imports skyrocketed to $10B in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.6% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (1.4M tons), followed by the UK (833K tons), France (609K tons) and Japan (396K tons) were the major importers of frozen potatoes prepared or preserved, together mixing up 37% of total imports. Brazil (364K tons), the Netherlands (364K tons), Germany (357K tons), Italy (305K tons), Mexico (222K tons), Spain (221K tons), Belgium (213K tons), the Philippines (160K tons) and South Korea (151K tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +10.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest preserved frozen potato importing markets worldwide were the United States ($1.6B), the UK ($944M) and Japan ($644M), together accounting for 32% of global imports. France, Germany, Italy, Brazil, the Netherlands, Mexico, Spain, the Philippines, South Korea and Belgium lagged somewhat behind, together accounting for a further 33%.

Among the main importing countries, the Philippines, with a CAGR of +15.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average preserved frozen potato import price amounted to $1,164 per ton, rising by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($1,626 per ton), while the Netherlands ($889 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+4.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Frozen Potatoes (Prepared Or Preserved)

In 2022, global exports of frozen potatoes prepared or preserved expanded rapidly to 9.2M tons, increasing by 8.6% against the year before. The total export volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 14% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, preserved frozen potato exports surged to $10.1B in 2022. In general, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.8% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Belgium (3.1M tons), distantly followed by the Netherlands (2M tons), Canada (1.3M tons) and the United States (1M tons) were the main exporters of frozen potatoes prepared or preserved, together constituting 80% of total exports. France (411K tons), Germany (334K tons) and Argentina (232K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Belgium (with a CAGR of +7.1%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest preserved frozen potato supplying countries worldwide were Belgium ($3B), the Netherlands ($2.1B) and Canada ($1.6B), together comprising 67% of global exports.

Among the main exporting countries, Belgium, with a CAGR of +9.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average preserved frozen potato export price stood at $1,096 per ton in 2022, picking up by 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the United States ($1,343 per ton) and Canada ($1,196 per ton), while Belgium ($967 per ton) and Argentina ($1,050 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform