The full-year trade data for 2024 is in! As the frozen potato industry continues to evolve, this data provides a clear view of market trends and shifts that could impact your business. Global trade volume increased by 2.7%, aligning closely with our anticipated 2.4% growth in global frozen potato consumption. At the same time, average export prices rose by 2.3% year-over-year, reaching €1.33/kg. What does this mean for the industry? Let’s dive into the key insights shaping the market’s future.
Key Export Developments
Mature Markets: Europe & North America
Europe's total exports declined by 105.4 kT (3.5%), largely due to a drop in shipments from the Netherlands:
- Netherlands: Decrease of 153.7 kT (7.9%), bringing total exports down to 1,798.1 kT.
- France: Increased exports by 171.4 kT (37.6%) to 628.2 kT, offsetting Belgium’s decline.
- Belgium: Declined by 132.5 kT (4.1%) to 3,089.1 kT.
North American exports rose by 121.3 kT (5.4%) to reach 2,362.2 kT:
- Canada: Up 93.2 kT (6.9%), totaling 1,445.7 kT.
- United States: Up 28.2 kT (3.2%), reaching 916.6 kT.
Emerging Export Growth: Asia & Middle East
Asia’s exports surged by 127.7 kT (50.7%), reaching 379.5 kT, driven by expanded capacity in China and India:
- China: Up 70.4 kT (52.6%), now exporting 204.2 kT.
- India: Up 56.6 kT (48.8%), reaching 172.7 kT.
Notably, Asian exports within Asia have surpassed European shipments to Asia for the first time:
- Asia-to-Asia trade: 318.7 kT.
- Europe-to-Asia trade: Down 50.1 kT (-13.8%) to 313.2 kT.
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Middle Eastern exports grew significantly, up 76.4 kT (41.0%) to 263.1 kT, driven almost entirely by Egypt:
- Egypt: Increased by 74.4 kT (63.6%), totalling 191.5 kT.
Primary destinations outside the Middle East are:
- Russia: +5.5 kT (+14.7%) to 42.9 kT
- Brazil: +20.9 kT (+210.3%) to 30.8 kT
- United States: -2.8 kT (-13.3%) to 18.3 kT
Market monitoring of frozen potato products
With shifting trade dynamics, particularly the rise of Asian exporters and growing Middle Eastern trade flows and the uncertainties around trade tariffs, the competitive landscape is evolving rapidly. As companies adapt, tracking these movements will be crucial for strategic decision-making in 2025 and beyond.
At A-INSIGHTS, we analyze global frozen potato trade data every month, sourced from local customs agencies and statistics offices. This data provides deep insights into trade volumes and pricing trends across all major importers and exporters. We are currently updating our global consumption model, ensuring you receive the most accurate and up-to-date projections on market demand. Expect an update in next month’s report, providing a fresh perspective on future consumption patterns.
When combined with our industry expertise, these insights help businesses make informed, strategic decisions based on real-time market developments.
Curious how A-INSIGHTS can support your strategy? Let’s connect! Schedule a call.
