The global frozen finger chips market has witnessed a moderate growth over the past several years. Owing to its convenience along with western influence and rising disposable incomes, frozen finger chips have become a popular snack in the emerging regions such as India and China.
According to IMARC Group’s latest report, the global frozen finger chips market reached a value of US$ 19 Billion in 2016, growing at a CAGR of nearly 4% during 2009-2016. One of the most popular snack foods globally, frozen finger chips or frozen French fries is often offered as side dishes in a large number of fast-food restaurants. They are also consumed as a quick snack in households since they are faster to prepare, require less labor and absorb less oil while providing a consistent quality and taste.
Highlights of the global frozen finger chips market:
Increasing number of fast-food chains across the globe remains the key driving factor.
Foodservice is the major end-use sector of frozen finger chips.
Europe represents the largest market, accounting for nearly a third of the total share.
Expansion of the fast-food chains, particularly in the emerging regions, such as China and India, is the key growth inducing factor for the global frozen finger chips market. Additionally, rapid urbanization and rising disposable incomes, coupled with westernization in these regions have highly influenced market growth. Another major factor catalysing the market is the convenience offered by frozen finger chips. Majorly popular amongst the youngsters, frozen finger chips are easy to cook, readily available and can be consumed on-the-go. With a rise in health-conscious consumers, the manufacturers have added products with reduced fat, cholesterol and calorie content, fortified with healthy ingredients, etc. in their product line, thereby, widening the demand for frozen finger chips. Moreover, a large variety of flavors, shapes, and sizes of frozen finger chips have been added in the product range over the years. Owing to the aforementioned factors, the market is further expected to reach a value of more than US$ 23 Billion by 2022.
On the basis of end-use, the market has been segmented into the food service and retail sector, wherein the food service sector dominates the market. Region-wise, Europe represents the largest market since frozen finger chips form an important part of the local cuisine and are widely consumed as side dishes or snacks with various condiments. The other major regions include Asia Pacific, North America, Latin America, and the Middle East and Africa. On evaluating the competitive landscape of the market, it is found that McCain, JR Simplot, Lamb-Weston, Aviko and Farm Frites are the key players operative in it.