India: Frozen Potato Market 2024

Frozen Potato Market Size in India

The Indian frozen potato market was finally on the rise to reach $X in 2021, after three years of decline. Overall, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -18.5% against 2017 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Frozen Potato Production in India

In value terms, frozen potato production expanded notably to $X in 2021 estimated in export price. In general, production, however, enjoyed prominent growth. The growth pace was the most rapid in 2015 with an increase of 38% against the previous year. Frozen potato production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Frozen Potato Exports

Exports from India

For the sixth consecutive year, India recorded growth in overseas shipments of frozen potatoes, which increased by 73% to X tons in 2021. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 109% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, frozen potato exports skyrocketed to $X in 2021. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 108%. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

Thailand (X tons), the Philippines (X tons) and Malaysia (X tons) were the main destinations of frozen potato exports from India, together comprising 64% 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 +401.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for frozen potato exported from India were Thailand ($X), the Philippines ($X) and Malaysia ($X), with a combined 72% share of total exports.

Among the main countries of destination, the Philippines, with a CAGR of +363.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average frozen potato export price amounted to $X per ton, reducing by -22.4% against the previous year. In general, the export price, however, enjoyed a notable expansion. The growth pace was the most rapid in 2015 when the average export price increased by 143% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Nepal ($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 Indonesia (+17.8%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Potato Imports

Imports into India

In 2021, the amount of frozen potatoes imported into India contracted notably to X tons, which is down by -79.3% compared with the previous year. Overall, imports continue to indicate a sharp contraction. The growth pace was the most rapid in 2020 when imports increased by 99%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, frozen potato imports contracted markedly to $X in 2021. Over the period under review, imports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 63% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of frozen potato to India, accounting for a 64% share of total imports. Moreover, frozen potato imports from the Netherlands exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was taken by Nepal (X tons), with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at -34.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-21.5% per year) and Nepal (+9.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of frozen potatoes to India, comprising 64% of total imports. The second position in the ranking was taken by the UK ($X), with a 25% share of total imports. It was followed by Bhutan, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at -37.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-29.4% per year) and Bhutan (+1.3% per year).

Import Prices by Country

In 2021, the average frozen potato import price amounted to $X per ton, approximately reflecting the previous year. Overall, the import price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 an increase of 26%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Bhutan ($X per ton), while the price for Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bhutan (+12.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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