by The global French fries market is estimated to be valued at US$15.00 billion in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The French fries market is driven by the increasing demand for convenient food options among consumers. French fries are a popular snack and side dish, widely consumed across various food service outlets such as fast food chains, restaurants, and cafes. Moreover, the rising popularity of fast food chains and quick-service restaurants, along with the growing urbanization and changing lifestyle patterns, have significantly contributed to the market growth. French fries offer convenience, taste, and affordability, which makes them a preferred choice among consumers of all age groups.
Market Dynamics:
The market dynamics for the French fries market are primarily driven by two factors. Firstly, the increasing demand for convenient food options has boosted the consumption of French fries worldwide. The fast-paced lifestyle, busy schedules, and the need for on-the-go food have propelled the growth of the French fries market. Additionally, the rising popularity of fast food chains such as McDonald’s, Burger King, and KFC has further augmented the demand for French fries. These fast-food chains extensively use French fries as an accompaniment to their main dishes, driving the market growth further.
SWOT Analysis for the French Fries Market:
Strength:
French fries have a strong demand and widespread popularity across the globe, making them a staple food in many countries. They are easy to prepare, affordable, and can be served as a side dish or as a standalone snack. Additionally, the market is dominated by well-established key players, such as McCain, JR Simplot, and Lamb-Weston, who have extensive distribution networks and brand recognition.
Weakness:
One weakness of the French fries market is its high dependence on potatoes as the primary raw material. This makes the market vulnerable to fluctuations in potato prices and availability, as well as environmental factors that can impact crop yields. Another weakness is the perception of French fries as an unhealthy food choice due to their high fat and calorie content, which can limit consumption among health-conscious consumers.
Opportunity:
There are two opportunities for the French fries market. Firstly, the rising trend of convenience food consumption presents an opportunity for frozen French fries, as they offer a quick and easy meal solution. Additionally, expanding into emerging markets, such as Asia-Pacific and Latin America, where the demand for Western-style food is growing, can open up new avenues for market expansion.
Threats:
Two threats facing the French fries market include increasing competition from alternative snack options, such as healthier vegetable chips and baked potato products. This can pose a challenge to the market’s growth potential. In addition, stricter regulations on food labeling and advertising, targeting the high fat and calorie content of French fries, can negatively impact consumer perception and demand.
Key Takeaways:
The Global French Fries Market Demand is expected to witness high growth, exhibiting a CAGR of 4.7% over the forecast period. This growth is primarily driven by the increasing popularity of convenience food and the strong presence of key players, such as McCain, JR Simplot, and Lamb-Weston.
In terms of regional analysis, North America is the fastest-growing and dominating region in the French fries market, attributed to the high consumption of fast food and the presence of major players in the region.
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 companies dominate the market with their extensive distribution networks, brand recognition, and wide product portfolios.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
