India Frozen Potato Products Market is expected to grow steadily at CAGR of 17% in the Forecast Period of 2021-2026
Potatoes have been linked to a variety of health benefits, including improved blood sugar regulation, increased immunity, and a lower risk of heart disease. The rise of convenience stores and supermarkets has increased the supply of ready-to-eat food, propelling the frozen potato industry to new heights.
The new report by Expert Market Research titled, ‘India Frozen Potato Products Market Report and Forecast 2021-2026’, gives an in-depth analysis of the India frozen potato products market, assessing the market based on its segments like type, end use, distribution channel and major regions like North India, Central and West India, South India, and East India. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
- Historical Market Value (2020): 1.10 Billion
- Forecast CAGR (2021-2026): 17 %
- Forecast Market Value (2026): 2.82 Billion
Potatoes have been linked to a variety of health benefits, including improved blood sugar regulation, increased immunity, and a lower risk of heart disease. The rise of convenience stores and supermarkets has increased the supply of ready-to-eat food, propelling the frozen potato industry to new heights. Fast-food chains such as McDonald's, Wendy's, Subway, KFC, Burger King, and Domino's, among others, have a major impact on the frozen potato industry in India. Because of better jobs and higher living standards, the urban population has been rising at an unprecedented rate. As a result, a working middle class with high buying power and a hectic schedule has emerged. Frozen potatoes have the same benefits and taste as fresh potatoes, but have a longer shelf life, assisting market growth. Furthermore, snacks such as french fries and wedges are becoming increasingly common in India, especially among children and youth, and are catalysing the growth of the frozen potato industry.
Industry Definition and Major Segments
Potatoes, a colonial legacy, are one of India's most common vegetables, appearing in many of the country's most famous dishes. Frozen potatoes are stored in their natural state, with no added preservatives. They are made by processing fresh potatoes at a low temperature and contain vitamin B6, fibre, magnesium, and antioxidants. The nutrient content of frozen potato products is the same as that of fresh potato products, making them an appropriate substitute for fresh foods.
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Based on type, the market is bifurcated into:
- French Fries
- Potato Wedges
- Potato Bites
Based on end use, the market is categorised into:
Based on distribution channels, the market is segmented into:
- Supermarkets and Hypermarkets
- Convenience Store
- Speciality Stores
The regional markets for India frozen potato products include:
- North India
- South India
- East India
- West India
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The availability of a wide range of frozen potato product varieties, flavours, and shapes drives market development. The rise of the online retail sector has allowed easy access to goods in remote areas, which contributes to consumer growth. Furthermore, the introduction of fast service restaurants and rising demand for frozen food are expected to propel market growth. The rise of food delivery services such as Swiggy, Zomato, and Uber Eats in India's first and second-tier cities may increase demand for frozen potato snacks and meals, boosting industry growth.
Frozen foods are not only convenient, but they also serve as a symbol of westernisation in India. The availability of foreign frozen potato products in India boosts market growth. Frozen potatoes are not only simple to cook and eat, but they also significantly reduce preparation time, making them ideal for busy and unskilled customers, boosting market growth. Various developments, such as the addition of Indian flavours to other flavours, are also propelling market development. Furthermore, changing consumer eating habits and shifting food preferences lubricate market development. However, potatoes, especially wedges and French fries, have been linked to an increased risk of death. Recent research, however, concluded that the goods provide multiple health benefits when consumed in moderation; such findings are expected to support market growth.
Key Market Players
The major players in the market are McCain Foods Ltd, Hyfun Foods, Iscon Balaji Foods Private Limited, Bhanu Farms Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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