The global 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 of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
French fries, a popular snack made from potatoes, are gaining significant traction globally due to their crispy texture and delicious taste. The convenience and affordability of French fries have propelled their demand among the younger population, leading to the growth of the market. Moreover, the rising popularity of fast food chains and the increasing consumer preference for on-the-go food options are further driving the market growth. The versatility of French fries as a snack and as a complement to various dishes has also contributed to their widespread consumption.
Market Key Trends:
One key trend observed in the French Fries Market is the growing demand for healthier alternatives. With the increasing emphasis on healthy eating, consumers are seeking French fries that are lower in fat and calories. As a result, food manufacturers are introducing healthier versions of French fries, such as baked or air-fried fries, which use less oil in the cooking process. These healthier alternatives are gaining popularity among health-conscious consumers, creating opportunities for market growth. Additionally, the use of alternative ingredients, such as sweet potatoes or vegetables, to make French fries is also a rising trend in the market. These innovative options cater to the demand for healthier and more diverse snacking options.
The French Fries market can be segmented based on product type, distribution channel, and end use.
In terms of product type, frozen French Fries dominate the market and are expected to continue dominating over the forecast period. The convenience, longer shelf life, and easy availability of frozen French Fries make it a popular choice among consumers. Furthermore, the increasing number of quick-service restaurants and food chains worldwide that serve frozen French Fries contributes to the dominance of this segment.
In terms of distribution channel, the foodservice segment holds the largest market share and is expected to maintain its dominance in the future. The growing trend of eating out and the rising popularity of fast food chains drive the demand for French Fries in the foodservice sector. Additionally, the increasing number of food delivery apps and online platforms further augment the growth of this segment.
In terms of end use, the retail segment is projected to experience significant growth during the forecast period. The increasing consumer demand for convenience food products, including French Fries, for consumption at home is driving the growth of the retail segment. Moreover, the expanding organized retail sector, ease of availability, and competitive pricing of French Fries in supermarkets and hypermarkets contribute to the growth of this segment.
The French Fries market Demand is expected to witness high growth, exhibiting a CAGR of 5.00% over the forecast period of 2023-2030. This growth can be attributed to several factors. Firstly, the changing lifestyle and increasing disposable income of consumers are driving the demand for convenience food products. French Fries, being a popular and easily accessible snack, benefit from this trend. Secondly, the growing number of quick-service restaurants and food chains worldwide, along with the increasing popularity of food delivery apps, further boosts the demand for French Fries. Lastly, the expanding organized retail sector and competitive pricing of French Fries in supermarkets and hypermarkets contribute to the market growth.
In terms of regional analysis, North America is the fastest-growing and dominating region in the French Fries market. The presence of major players, high consumption of fast food, and rising demand for frozen food products in countries like the United States and Canada contribute to the dominance of this region. Additionally, the increasing trend of eating out and the popularity of quick-service restaurants further drive the market growth in North America.
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 among others. These key players focus on product innovation, expansion strategies, and mergers and acquisitions to maintain their market position and gain a competitive edge.