Updated Jan 10, 2023 22:32

Preserved Frozen Potato Market in the United Kingdom

Market Overview
The UK preserved frozen potato market skyrocketed to $ in , surging 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). The market value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

In value terms, preserved frozen potato production contracted modestly to $ in estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 when the production volume increased by %. Preserved frozen potato production peaked at $ in 2014; however, from 2015 to , production remained at a lower figure.


Consumption
In , after two years of decline, there was significant growth in consumption of frozen potatoes (prepared or preserved), when its volume increased by % to tons. The total consumption volume increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The revenue of the preserved frozen potato market in the UK soared to $ in , rising 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). The market value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.


Market Forecast
The preserved frozen potato market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract 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
Driven by a growing demand, the share of imports in total supply in the UK increased significantly over the last fifteen-year period (from % to %). In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
The UK remains a net importer of preserved frozen potato; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.