Feb 28, 2025
IndexBox has just published a new report: China – Frozen Potatoes – Market Analysis, Forecast, Size, Trends and Insights.
Driven by a rising demand for frozen potatoes, the Chinese market is set to see continuous growth in consumption. Forecasts predict a 2.1% CAGR in both volume and value from 2024 to 2035, resulting in a market volume of 8.1M tons and a market value of $9.6B by the end of the period.
Market Forecast
Driven by increasing demand for frozen potatoes in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market volume to 8.1M tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market value to $9.6B (in nominal wholesale prices) by the end of 2035.
Consumption
China’s Consumption of Frozen Potatoes
In 2024, the amount of frozen potatoes consumed in China amounted to 6.4M tons, surging by 1.5% compared with the year before. The total consumption volume increased at an average annual rate of +2.4% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Frozen potato consumption peaked at 6.7M tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.
The size of the frozen potato market in China reached $7.6B in 2024, with an increase of 2.2% 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 +1.7% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $8B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.
Production
China’s Production of Frozen Potatoes
In 2024, frozen potato production in China was estimated at 6.6M tons, growing by 2.8% compared with the year before. The total output volume increased at an average annual rate of +2.8% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 15% against the previous year. Frozen potato production peaked at 6.8M tons in 2022; however, from 2023 to 2024, production remained at a lower figure.
In value terms, frozen potato production expanded slightly to $7.8B in 2024 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 31% against the previous year. Frozen potato production peaked at $8.1B in 2022; however, from 2023 to 2024, production remained at a lower figure.
Imports
China’s Imports of Frozen Potatoes
In 2024, imports of frozen potatoes into China declined rapidly to 25K tons, which is down by -35.8% compared with 2023 figures. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 54%. As a result, imports attained the peak of 191K tons. From 2019 to 2024, the growth of imports failed to regain momentum.
In value terms, frozen potato imports fell notably to $40M in 2024. Over the period under review, imports saw a deep setback. The growth pace was the most rapid in 2018 when imports increased by 41% against the previous year. As a result, imports reached the peak of $202M. From 2019 to 2024, the growth of imports remained at a lower figure.
Imports By Country
In 2022, the United States (20K tons) constituted the largest frozen potato supplier to China, with a 54% share of total imports. Moreover, frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, Turkey (6.4K tons), threefold. The third position in this ranking was held by Belgium (4.9K tons), with a 13% share.
From 2013 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+131.6% per year) and Belgium (-1.4% per year).
In value terms, the United States ($26M) constituted the largest supplier of frozen potatoes to China, comprising 54% of total imports. The second position in the ranking was taken by Turkey ($8.7M), with an 18% share of total imports. It was followed by Belgium, with an 11% share.
From 2013 to 2022, the average annual rate of growth in terms of value from the United States amounted to -15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+139.3% per year) and Belgium (-1.5% per year).
Imports By Type
In 2024, frozen potatoes prepared or preserved (25K tons) was the main type of frozen potatoes supplied to China, with a approx. 100% share of total imports.
From 2013 to 2024, the average annual growth rate of the volume of frozen potatoes prepared or preserved imports stood at -13.2%.
In value terms, frozen potatoes prepared or preserved ($40M) constituted the largest type of frozen potatoes supplied to China.
From 2013 to 2024, the average annual growth rate of the value of frozen potatoes prepared or preserved imports totaled -11.0%.
Import Prices By Type
In 2024, the average frozen potato import price amounted to $1,577 per ton, increasing by 11% against the previous year. Over the last eleven years, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 25% against the previous year. The import price peaked in 2024 and is likely to see gradual growth in the immediate term.
As there is only one major imported type of frozen potato, the average price level is determined by prices for frozen potatoes prepared or preserved.
From 2013 to 2024, the rate of growth in terms of prices for frozen boiled potatoes amounted to +3.3% per year.
Import Prices By Country
The average frozen potato import price stood at $1,280 per ton in 2022, surging by 12% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 25% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($2,083 per ton), while the price for Argentina ($842 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports
China’s Exports of Frozen Potatoes
In 2024, overseas shipments of frozen potatoes increased by 47% to 229K tons, rising for the sixth consecutive year after two years of decline. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 89% against the previous year. The exports peaked in 2024 and are expected to retain growth in the near future.
In value terms, frozen potato exports skyrocketed to $284M in 2024. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2022 with an increase of 82% against the previous year. The exports peaked in 2024 and are expected to retain growth in the near future.
Exports By Country
Japan (35K tons), the Philippines (31K tons) and Thailand (14K tons) were the main destinations of frozen potato exports from China, with a combined 68% share of total exports.
From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +415.7%), while the other leaders experienced more modest paces of growth.
In value terms, the largest markets for frozen potato exported from China were Japan ($49M), the Philippines ($33M) and Thailand ($15M), together accounting for 69% of total exports.
In terms of the main countries of destination, the Philippines, with a CAGR of +378.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Exports By Type
Frozen potatoes prepared or preserved (206K tons) was the largest type of frozen potatoes exported from China, accounting for a 90% share of total exports. Moreover, frozen potatoes prepared or preserved exceeded the volume of the second product type, frozen boiled potatoes (23K tons), ninefold.
From 2013 to 2024, the average annual growth rate of the volume of frozen potatoes prepared or preserved exports totaled +25.6%.
In value terms, frozen potatoes prepared or preserved ($260M) remains the largest type of frozen potatoes exported from China, comprising 92% of total exports. The second position in the ranking was held by frozen boiled potatoes ($24M), with an 8.3% share of total exports.
From 2013 to 2024, the average annual growth rate of the value of frozen potatoes prepared or preserved exports stood at +23.7%.
Export Prices By Type
In 2024, the average frozen potato export price amounted to $1,240 per ton, dropping by -8.5% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 45%. The export price peaked at $1,354 per ton in 2023, and then fell in the following year.
Average prices varied noticeably for the major types of exported product. In 2024, the product with the highest price was frozen potatoes prepared or preserved ($1,262 per ton), while the average price for exports of frozen boiled potatoes totaled $1,039 per ton.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: frozen boiled potatoes (-0.4%).
Export Prices By Country
The average frozen potato export price stood at $1,188 per ton in 2022, picking up by 5.2% against the previous year. Over the period under review, the export price, however, recorded a slight contraction. The growth pace was the most rapid in 2017 an increase of 45%. The export price peaked at $1,352 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Hong Kong SAR ($1,447 per ton) and Japan ($1,405 per ton), while the average price for exports to Indonesia ($1,032 per ton) and the Philippines ($1,057 per ton) were amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
