French Fries Market to Sizzle with a CAGR of 4.5% by 2030
According to a new report published by MarkWide Research, titled, “French Fries Market,” the global French fries market is set to experience steady growth in the coming years. French fries, a popular snack and side dish worldwide, continue to enjoy high demand in various foodservice and retail sectors.
The report reveals that the global French fries market is expected to witness a robust CAGR of 4.5% over the forecast period from 2023 to 2030. This growth is attributed to the enduring popularity of French fries among consumers of all ages and their wide availability in quick-service restaurants and frozen food sections of supermarkets.
Key Findings from the Report:
- Consumer Preferences: French fries are a beloved comfort food for consumers, and their demand is driven by taste, convenience, and affordability.
- Quick-Service Restaurants: The consistent presence of French fries on the menus of quick-service restaurants and fast-food chains contributes significantly to market growth.
- Frozen Convenience: The availability of frozen French fries for home consumption provides convenience to consumers, especially during busy lifestyles.
- Flavor Innovation: The market is witnessing the introduction of various flavors and seasonings, enhancing the appeal of French fries.
- Healthier Alternatives: Growing health consciousness has led to the development of healthier French fries options, including baked and air-fried varieties.
Market Forecast:
The report indicates that the global French fries market is currently valued at $30 billion in 2023 and is projected to reach $42.5 billion by 2030, with a CAGR of 4.5% during the forecast period. North America remains the largest market for French fries, followed by Europe.
Company Profiles:
Key players in the global French fries market include McCain Foods Limited, J.R. Simplot Company, Lamb Weston Holdings, Inc., and Ore-Ida (a subsidiary of Kraft Heinz Company). These companies continue to innovate and expand their product offerings to meet consumer preferences.
Conclusion:
The global French fries market is poised for growth, driven by the enduring popularity of this beloved snack and side dish. With a projected CAGR of 4.5% by 2030, this market offers opportunities for food manufacturers and retailers to cater to the ongoing demand for French fries.