by The French Fries Market is estimated to be valued at US$ 15.9 Billion in 2023 and is expected to exhibit a CAGR of 5.00% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
French fries are one of the most popular and widely consumed fast food items across the globe. These deep-fried potato strips are crispy, flavorful, and enjoyed as a snack or side dish. The growing trend of eating out and the expansion of quick-service restaurants (QSRs) around the world are some of the key factors driving the demand for French fries. Additionally, the increasing popularity of convenience food and the rising disposable income of consumers are further fueling the growth of the French Fries Market.
Market Dynamics:
The French Fries Market is primarily driven by the changing consumer preferences and the expansion of quick-service restaurants (QSRs) worldwide. With the busy and fast-paced lifestyles of consumers, there has been a growing demand for convenient and ready-to-eat food options, which has contributed to the increased consumption of French fries. Moreover, the availability of different flavors and varieties of French fries, such as seasoned, curly, and sweet potato fries, has also attracted a wider consumer base. Furthermore, the rising popularity of online food delivery platforms and the growing trend of food customization are expected to provide significant growth opportunities for the French Fries Market in the coming years.
Segment Analysis:
The French fries market can be segmented based on type, distribution channel, and end-user. In terms of type, the frozen segment dominates the market and is expected to continue its dominance during the forecast period. Frozen French fries have gained popularity due to their convenience and longer shelf life compared to fresh French fries. They are widely used in quick-service restaurants and food chains, leading to their dominance in the market.
PEST Analysis:
Political: The French fries market is influenced by government regulations on food safety and labeling requirements. Governments implement policies and regulations to ensure the quality and safety of food products, which impacts the production and distribution of French fries.
Economic: The economic factors affecting the French fries market include changes in disposable income, consumer spending patterns, and currency fluctuations. Economic stability and growth positively impact the market as consumers have higher purchasing power.
Social: Changing lifestyles and food preferences of consumers have influenced the demand for convenience foods like French fries. Busy lifestyles and the rise in fast-food consumption have contributed to the growth of the French fries market.
Technological: Advancements in processing technologies, such as improved freezing techniques and packaging innovations, have increased the shelf life and quality of French fries. Technological advancements also play a crucial role in production efficiency and cost reduction.
Key Takeaways:
The French Fries market Demand is expected to witness high growth, exhibiting a CAGR of 5.00% over the forecast period, due to the increasing demand for convenience foods and the popularity of fast foods.
The frozen segment dominates the market, driven by its convenience and longer shelf life. In terms of regional analysis, North America is the fastest-growing and dominating region in the French fries market, followed by Europe and Asia Pacific.
The increasing consumption of fast food and the presence of key players in these regions contribute to their growth. The key players operating in the French fries market include McCain, JR Simplot, Lamb-Weston, Aviko, Farm Frites, Ore-Ida, Cascadian Farm Organic, Alexia Foods, Trader Joe’s Fan, Checkers & Rally’s, and Arby’s IP Holder. These companies focus on product innovation, expansion, and strategic partnerships to maintain their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
