UK’s Dependence on Imports of Frozen Potatoes Increases Markedly
IndexBox has just published a new report: ‘United Kingdom – Frozen Potatoes – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
The revenue of the frozen potato market in the UK amounted to $1.5B in 2018, declining by -2.1% 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). Over the period under review, frozen potato consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the frozen potato market reached its maximum level at $1.7B in 2014; however, from 2015 to 2018, consumption stood at a somewhat lower figure.
Production in the UK
In 2018, approx. 458K tonnes of frozen potatoes were produced in the UK; approximately mirroring the previous year. Overall, frozen potato production continues to indicate a moderate contraction. The pace of growth appeared the most rapid in 2012 when production volume increased by 6.1% against the previous year. In that year, frozen potato production attained its peak volume of 657K tonnes. From 2013 to 2018, frozen potato production growth failed to regain its momentum. In value terms, frozen potato production amounted to $651M in 2018 estimated in export prices.
Imports into the UK
In 2018, the amount of frozen potatoes imported into the UK totaled 663K tonnes which remained relatively stable against the previous year. The total import volume increased at an average annual rate of +4.2% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, frozen potato imports reached their maximum in 2018 and are likely to see steady growth in the near future. In value terms, frozen potato imports amounted to $641M (IndexBox estimates) in 2018.
Imports by Country
The Netherlands (370K tonnes) and Belgium (268K tonnes) constitute the main suppliers of frozen potato imports to the UK, with a combined 96% share of total imports.
From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Belgium.
In value terms, the Netherlands ($359M) and Belgium ($255M) appeared to be the largest frozen potato suppliers to the UK, together comprising 96% of total imports.
Import Prices by Country
The average frozen potato import price stood at $967 per tonne in 2018, picking up by 5.6% against the previous year. Overall, the frozen potato import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average import prices for frozen potatoes attained their peak figure at $1,094 per tonne in 2014; however, from 2015 to 2018, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2018, the country with the highest price was the Netherlands ($969 per tonne), while the price for Belgium stood at $954 per tonne. From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Belgium.
Source: IndexBox AI Platform