CHINA – Canadian-based and world’s largest manufacturer of frozen potato products, McCain Foods is planning to invest US$200 million to construct a second local potato production facility in China.
McCain food says the investment builds on its 25 years’ presence in China and aims to meet the growing demand for its potato products in the country.
Located in Yangling Agriculture Hi-Tech Development Zone, Shaanxi Province, the new facility will expand McCain’s local production network in China.
The US$200m facility will join the company’s existing potato processing facility in Harbin, Heilongjiang province.
With increased capacity and specialised production capability, McCain says it will continue to lead innovation in frozen potato products that meet growing demand for locally prepared products across a range of cuisines.
Headquartered in Shanghai, McCain Foods China is a supplier of frozen potato products – from French fries to potato specialities – for the local Western and Asian foodservice markets and more recently the retail sector.
The China subsidiary currently employs 400 people and is part of the Canadian based McCain Foods which operates in 160 countries around the world, with 51 manufacturing facilities in local markets.
Last year, the company said it would invest US$60.6 million to expand its potato facility in Canada and announced plans to invest around US$100 million in its first French fry factory in Brazil.
The expansions by the world’s largest producer of frozen potato products come at a time when the Global Frozen Potato Market is expected to continue expanding at a CAGR of 4%, according to ResearchandMarkets.com.
The research firm further notes that the global market was valued at US$ 59,031.42 million in 2019 will reach US$ 79,788.08 million by 2027.
ResearchAndMarkets.com associates this growth to fast-food and quick-service restaurants which are becoming more popular as they provide mass-produced foods, convenience, the good taste of the food, and are economical in terms of money and time.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE
