China: Frozen Potato Market 2024

Frozen Potato Market Size in China

The Chinese frozen potato market contracted modestly to $X in 2021, stabilizing at the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Frozen Potato Production in China

In value terms, frozen potato production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; 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 46% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Frozen Potato Exports

Exports from China

In 2021, overseas shipments of frozen potatoes increased by 33% to X tons, rising for the third year in a row after two years of decline. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 90%. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, frozen potato exports soared to $X in 2021. Over the period under review, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 76% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Philippines (X tons), Japan (X tons) and Hong Kong SAR (X tons) were the main destinations of frozen potato exports from China, together comprising 73% of total exports.

From 2012 to 2021, 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 +109.4%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the Philippines ($X) and Hong Kong SAR ($X) constituted the largest markets for frozen potato exported from China worldwide, together comprising 76% of total exports.

The Philippines, with a CAGR of +117.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen potato export price stood at $X per ton in 2021, leveling off at the previous year. Overall, the export price saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 44%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Potato Imports

Imports into China

Frozen potato imports into China declined remarkably to X tons in 2021, shrinking by -26.6% compared with the previous year. In general, imports showed a deep contraction. The pace of growth was the most pronounced in 2018 with an increase of 54%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, frozen potato imports shrank rapidly to $X in 2021. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 41% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of frozen potato to China, accounting for a 50% share of total imports. Moreover, frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. The third position in this ranking was held by Turkey (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+8,554.5% per year) and Turkey (+188.7% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen potatoes to China, comprising 54% of total imports. The second position in the ranking was held by Turkey ($X), with a 15% share of total imports. It was followed by Argentina, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+193.9% per year) and Argentina (+7,360.4% per year).

Import Prices by Country

The average frozen potato import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 25%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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