Asia-Pacific: Frozen Potato Market 2023

Frozen Potato Market Size in Asia-Pacific

In 2021, the Asia-Pacific frozen potato market increased by 1.8% to $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Frozen Potato Production in Asia-Pacific

In value terms, frozen potato production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 31%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Frozen Potato Exports

Exports in Asia-Pacific

In 2021, overseas shipments of frozen potatoes increased by 29% to X tons, rising for the sixth consecutive year after two years of decline. In general, exports enjoyed a strong expansion. The growth pace was the most rapid in 2013 with an increase of 34%. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, frozen potato exports surged to $X in 2021. Overall, exports enjoyed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X tons), New Zealand (X tons), China (X tons) and Pakistan (X tons) was the key exporter of frozen potatoes in Asia-Pacific, making up 91% of total export. Australia (X tons) and Vietnam (X tons) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +25.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), China ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 80% of total exports.

Among the main exporting countries, India, with a CAGR of +30.5%, 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.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, picking up by 3.5% against the previous year. Overall, the export price, however, recorded a noticeable downturn. The growth pace was the most rapid in 2015 when the export price increased by 13%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.7%), while the other leaders experienced more modest paces of growth.

Frozen Potato Imports

Imports in Asia-Pacific

Frozen potato imports rose rapidly to X tons in 2021, picking up by 5.9% compared with 2020. The total import volume 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 most prominent rate of growth was recorded in 2016 with an increase of 13%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen potato imports amounted to $X in 2021. The total import value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 10%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons), distantly followed by Malaysia (X tons), the Philippines (X tons), South Korea (X tons), Australia (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons) and China (X tons) were the key importers of frozen potatoes, together generating 81% of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of frozen potatoes. At the same time, Indonesia (+13.2%), the Philippines (+9.9%), Malaysia (+8.1%), South Korea (+6.2%) and Taiwan (Chinese) (+5.5%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +13.2% from 2012-2021. By contrast, Australia (-1.4%) and China (-6.2%) illustrated a downward trend over the same period. While the share of the Philippines (+4.2 p.p.), Malaysia (+3.8 p.p.), Indonesia (+3.2 p.p.) and South Korea (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Australia (-4 p.p.), China (-7 p.p.) and Japan (-9.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported frozen potatoes in Asia-Pacific, comprising 31% of total imports. The second position in the ranking was held by South Korea ($X), with a 9.5% share of total imports. It was followed by the Philippines, with a 9.1% share.

In Japan, frozen potato imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+6.2% per year) and the Philippines (+13.0% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, rising by 2.8% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 5.8%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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