North America French Fries Market in Emerging Economies will witness a CAGR of 3.2% through 2026
French fries are foods made by deep frying finely cut potatoes. This food item is often served alongside the main meal for lunch or dinner. Different varieties of French fries are available in the market for consumers to purchase ranging from plain salted flavor to spicy options. French fries are one of the most preferred options of fast food in quick service restaurants and full service restaurants.
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The French fries market in North America is driven by increase in affinity of consumers toward fast food as well as increase in number of people preferring to eat outside over cooking. Moreover, increase in the number of fast food outlets, a rise in the disposable income of people in the region coupled with rise in penetration of online shopping and adoption of home delivery service make way for the North America French fries market growth. However, health issues such as obesity and cardiac diseases associated with fried food act as a major restraint for the growth of the French fries market in the U.S. and Canada. On the contrary, introduction of healthy varieties of French fries such as low carbohydrate, and air fried/baked is expected to provide opportunities for the growth of the North America French fries market.
In 2018, by age group, the between 20 and 35 years old segment was the highest contributor to the French fries market in the North America. This can be attributed to the busy lifestyles, rise in dependence on fast food, and the preference of having convenient meal options among this demographic cohort in the U.S. and Canada.
According to the North America French fries market forecast by distribution channel, the QSR segment accounted for the highest share in the market in 2018 and is expected to grow at significant growth rate through the forecast period. The growth in this segment is driven by rise in number of Quick Service Restaurants (QSRs) along with a rise in the number of people preferring to eat outside.
The North America French fries market is segmented on the basis of type, age group, distribution channel, and country. By type, the market is segmented into regular and frozen French fries. On the basis of age group, the market is categorized into below 18 years old, between 20 and 35 years old, and above 35 years old. By distribution channel, the market is divided into quick service restaurants (QSRs), institutions, restaurants and others. By country, the market is been studied across the U.S. and Canada.
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According to the North America French fries market analysis by product, the frozen segment was the most prominent category in 2018 and is expected to remain dominant during the forecast period. This is attributed to ease of storage due to high shelf life of the frozen products over the conventional products.
By country, the U.S. was the most prominent market in 2018 and is expected to dominate the North America French fries market through 2019-2026. The key players in the industry have adopted a number of strategies such as product launch, expansion, and acquisition as their go-to strategies to stay competitive in the market.
Major Players: Agristo Nv, Alexia Foods, Aviko (Royal Cosun), Cavendish Farms, J.R. Simplot Company, Lamb Weston Holdings, Inc., Luxfries Bvba, McCain Foods Limited, Nathan's Famous, Inc., and Ore-Ida.
Key Findings of The Study:
o The North America French Fries market was valued at $$7,758.9 million in 2018 and is estimated to reach $9,948.3 million by 2026, growing at a CAGR of 3.2% throughout the forecast period.
o Based on product, the frozen segment is expected to witness the fastest growth, registering a CAGR of 3.2% during the forecast period.
o In 2018, based on age group, the 20-35 year old segment held the highest share, accounting for more than half of the global market share.
o In 2018, QSR was the most prominent market in the U.S. and Canada region is expected to grow at a significant CAGR throughout the forecast period.
o U.S. was the dominant country in 2018, accounting for more the four-fifths of the North America French fries market share.
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