Press release
Global French Fries Market Size To Grow At A CAGR Of 6.40% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
French Fries Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 25.5 billion
• Forecast CAGR (2023-2028): 6.40%
• Forecast Market Size (2028): USD 36.7 billion
The global French fries market is primarily driven by the growing preference for fast food among the young population across the world. The growing penetration of global fast-food chains such as McDonald's and KFC is expected to bolster the market growth over the forecast period. Changing consumer lifestyles, rising expenditure on fast food, and easy accessibility to multiple outlets through online food delivery services are expected to further support the demand for French fries.
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The easy availability of several brands of frozen French fries brands across several distribution channels is further driving its consumption. Additionally, increasing innovative product launches by key players in terms of new flavours, shapes, and varieties is further aiding the French fries market demand. For instance, in July 2022, Kraft-Heinz, Inc., a United States-based manufacturer of various condiments, launched Spoon Friez. A unique take on classic French fries, Spoon Friez is shaped like a spoon and designed for easy pairing with condiments.
French Fries Industry Definition and Major Segments
French fries are baked, or fried snacks made utilising potatoes. French fries are usually, thin cut batons of potatoes that are popularly consumed internationally, with condiments including ketchup, mayonnaise, salsa, and gravy, and among. While french fries are typically in baton shape, they are also available in a variety of other shapes, including waffle, and curly. French fries are a rich source of carbohydrates.
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Based on product, the market is segmented into:
• Frozen
• Regular
On the basis of end-use, the market is categorised into:
• Food Service
• Retail
Based on distribution channel, the market is divided into:
• Supermarkets and Hypermarkets
• Convenience Stores
• Online
• Distributors
• Direct Purchase
On the basis of region, the market is categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
French Fries Market Trends
Regionally, North America is expected to dominate the global French fries market over the forecast period owing to the strong presence of the fast-food sector and major food chains in the region. Increasing capacity expansion by key players are further accelerating the region's growth.
For instance, in July 2022, Lamb Weston a leading manufacturer of sweet potato, frozen potato, appetisers, and vegetable products for the food service and retail industry, announced an investment of USD 415 million. The investment is aimed at the expansion of a French fry processing facility in Idaho, which would increase the company's annual French fry production to over 350 million pounds.
Moreover, the French fries market in North America is witnessing increasing collaborations, and growing technological and vertical integration among key players. For instance, in February 2022, Kraft Heinz Company and Simplot Food Group entered into a multi-year strategic supply agreement. As per the agreement, Kraft Heinz announced Simplot as the sole manufacturer and supplier of its Ore-Ida brand.
Key Market Players
The major players in the global French fries market report are
Agristo N.V.
Conagra Brands, Inc.
Aviko B.V.
Cavendish Farms
J.R. Simplot Company
Lamb Weston, Inc.
Luxfries NV
The Kraft Heinz Company
McCain Foods Limited
Alexia Foods.
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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