Updated Jan 10, 2023 16:34

Preserved Frozen Potato Market in India

Market Overview
For the third year in a row, the Indian preserved frozen potato market recorded decline in sales value, which decreased by -% to $ in . In general, the total consumption indicated modest growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2019 indices. Preserved frozen potato consumption peaked at $ in 2019; however, from to , consumption failed to regain momentum.

In value terms, preserved frozen potato production fell to $ in estimated in export price. In general, the total production indicated a mild expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against 2019 indices. The pace of growth was the most pronounced in 2011 when the production volume increased by % against the previous year. Preserved frozen potato production peaked at $ in 2019; however, from to , production remained at a lower figure.


Consumption
In , consumption of frozen potatoes (prepared or preserved) decreased by -% to tons, falling for the second consecutive year after fourteen years of growth. In general, the total consumption indicated pronounced growth from 2007 to : its volume increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. The pace of growth was the most pronounced in 2017 with an increase of % against the previous year. Over the period under review, consumption hit record highs at tons in ; however, from to , consumption failed to regain momentum.

The value of the preserved frozen potato market in India reduced modestly to $ in , declining by -% 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). Over the period under review, the total consumption indicated a mild increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2019 indices. Preserved frozen potato consumption peaked at $ in 2019; however, from to , consumption remained at a lower figure.


Market Forecast
Driven by increasing demand for preserved frozen potato in India, 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 +% for the period from to , which is projected to bring the market volume to tons by the end of .

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


Market Structure
Over the period under review, imports of preserved frozen potato in India were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for preserved frozen potato. In , the share of imports in total consumption accounted for less than % in value terms and less than % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for less than % in value terms and less than % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
India remains a net exporter of preserved frozen potato; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.