(Food-Beverage-News.Com, July 06, 2019 ) According to the latest report by IMARC Group, titled “Global Frozen Finger Chips Market Research Report and Forecast 2019-2024”, the global frozen finger chips market size reached a value of US$ 20.4 Billion in 2018, growing at a CAGR of 3.7% during 2011-2018. Frozen finger chips, commonly known as frozen French fries, are potato strips that are usually baked or fried for consumption. They are much more convenient to use than their fresh counterparts as they are relatively easy and quick to cook while maintaining the same taste and quality. They also require minimal effort to prepare, have a longer shelf life and absorb a lesser amount of oil. Additionally, ease of storage and portion control are other benefits that are contributing to their rapid preference among consumers across the globe. Consequently, they are one of the most popular snacks around the world and are widely utilized across households as well as food joints.
Global Frozen Finger Chips (Frozen French Fries) Market Trends:
Rapid urbanization and changing consumption patterns of the majority of the population have significantly contributed to the expansion of fast food chains across the globe, especially in emerging economies. These fast food chains are relatively cheaper as compared to restaurants which is a significant factor that is bolstering the growth of these joints, thereby proliferating the sales of frozen finger chips globally. Moreover, hectic lifestyles and inflating purchasing power of the working population along with the growing popularity of western cuisines are some of the other major factors providing a thrust to the market. Apart from this, manufacturers are continually launching new variants with a wide range of different shapes, sizes and flavorings to cater to the diversified tastes of consumers. For instance, they have introduced curly- or crinkle-shaped and peri-peri flavored fries in the market, which is gaining rapid popularity amongst the consumers. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 24.7 Billion by 2024.
On the basis of the end use, the market has been bifurcated into food service and retail. Amongst these, the food service segment accounts for the biggest market share.
Market Breakup By Key Region:
1. Europe
2. North America
3. Asia Pacific
4. Latin America
5. Middle East and Africa
On the geographical front, Europe holds the leading position in the market. Other major regions include North America, Asia Pacific, Latin America and Middle East and Africa.
Competitive Landscape:
The competitive landscape of the market has also been analyzed with the detailed profiles of the key player including McCain, JR Simplot, Lamb-Weston, Aviko and Farm Frites.
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