Frozen Finger Chips Market Size, Share, Growth Analysis, By End-Use(Food Service and Household), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30I2142 | Region: Global | Published Date: July, 2024
Pages: 265 |Tables: 34 |Figures: 74

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Frozen Finger Chips Market size was valued at USD 22.64 billion in 2019 and is poised to grow from USD 23.3 billion in 2023 to USD 29.36 billion by 2031, growing at a CAGR of 2.93% in the forecast period (2024-2031).

The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'JR Simplot', 'Lamb-Weston', 'McCain Foods Limited', 'Aviko B.V.', 'Agristo NV', 'Pohjolan Peruna Oy', 'Farm Frites International B.V.', 'Himalya International Ltd.', 'Bergia Frites S.A.', 'Westfrost GmbH', 'Bart's Potato Company', 'Agrarfrost GmbH & Co. KG', 'Royal Cosun U.A.', 'Lutosa S.A.', 'Farmwise LLC', 'Nomad Foods Europe Limited', 'Greenyard NV', 'H.J. Heinz Company', 'Cascadian Farm Organic', 'Lidl Stiftung & Co. KG'

The market for frozen finger chips (also known as frozen French fries) is currently primarily being pushed by the younger demographic's increasing preference for western cuisine, the expansion of fast-food restaurant chains, shifting lifestyles, and rising income levels. This is further reinforced by the expansion of frozen finger chip variations, shapes, and flavours. In addition, urbanisation is increasing, particularly in developing nations, and changing consumer patterns are giving the market a good outlook. Additionally, the surge in hectic lifestyle schedules brought on by the growing working population has increased sales of frozen finger chips. Additionally, a number of participants have been growing their customer bases by marketing their goods through online retail channels, which is impacting the market’s growth.

Rising consumer awareness about online retailing is projected to favor the overall growth of the market in the upcoming years. Online buying is a popular trend among consumers right now. One of the key aspects driving this industry's expansion is online retail. The availability of numerous new apps has made it even easier for customers to buy tasty goods that suit their interests. Due to their preference for avoiding retail stores, the working people is drawn to the diversity of products that are offered. Around 26% of people, according to Eurostat statistics from 2018, used e-commerce websites or mobile apps to buy edible goods. The rise of the frozen finger chips industry is anticipated to be fueled by the increasing use of smartphones and the internet, which will also present chances for new players. Additionally, the majority of online retail buyers were adding frozen to their orders, per AFFI. This, thus, aids the overall growth of the market during the forecast period.

Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, and MEA. The North America accounted for the largest market share and is expected to remain the leader in Frozen Finger Chips in the coming years. The regional growth of the market is attributed to the region's high level of consumer knowledge of the advantages of such vegetables. The FDA has implemented a number of restrictions that reduce the use of dangerous compounds like trans fats. Food that has been prewashed, precut, and frozen reduces the amount of cooking required because it is more portable and has a longer shelf life. These elements are promoting market expansion in the area.

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Global Frozen Finger Chips Market

Product ID: SQMIG30I2142