According to new report by IMARC Group, titled “Indian Frozen Potato Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The Indian frozen potato products market reached a value of US$ 1.23 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.44 Billion by 2027, exhibiting a CAGR of 12.1% during 2022-2027.
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Frozen potato products refer to potato-based snacks, including fries, wedges, patties and hash browns, which are usually baked or fried for consumption. They can be eaten as an accompaniment with lunch or dinner or can be consumed as elaborate dishes. They are extremely quick and convenient to cook, while requiring minimal effort for preparation. In addition to this, they offer the same taste and quality as their fresh counterparts. They are also easy to store, assist in portion control and offer a relatively longer shelf life. Consequently, these products form an essential part of meals prepared across households and restaurants. Inflating per capita income levels in India, along with the easy availability of convenience foods, have bolstered the sales of frozen potato products across the country.
The competitive landscape of the market has also been analyzed with some of the key players operating in the market being.
- McCain Foods (India) Private Ltd.
- Hyfun Frozen Foods Private Ltd.
- Iscon Balaji Foods Private Limited
- Golden Fries Limited
- Bhanu Farms Limited
Indian Frozen Potato Products Market Trends:
Rapid urbanization, shifting dietary preferences and cost-effective food options have impelled the demand for fast foods, thereby boosting the sales of frozen potato products. Along with this, the proliferation of fast food chains, such as KFC, McDonald’s and Burger King across India is acting as a major growth-inducing factor. Furthermore, hectic working schedules in confluence with the growing popularity of western cuisines in the country are also contributing to the burgeoning product demand. Manufacturers are continually launching innovative variants with a wide array of shapes, sizes and flavorings to cater to the diversified taste preferences of the consumers. For instance, several manufacturers, including Canada-based McCain Foods, have launched frozen aloo tikki, a typical blend of mashed potatoes and Indian spices, which is gaining immense popularity among the consumers. Rapid expansion of online food delivery services is another major factor creating a positive outlook for the market.
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Key Market Segmentation:
Breakup by Product Type:
- French Fries Tikkis
- Potato Wedges
- Potato bites
Breakup by End Use:
- Food Service
- Wherein Food Service
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Departmental Stores
- West and Central India
- South India
- East India
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