PUBLISHER: The Insight Partners | PRODUCT CODE: 1452618
PUBLISHER: The Insight Partners | PRODUCT CODE: 1452618
The North America frozen French fries market is expected to grow from US$ 13,660.65 million in 2022 to US$ 19,486.77 million by 2030. It is estimated to grow at a CAGR of 4.5% from 2022 to 2030.
Growing Consumption of Convenience Food Drive North America Frozen French Fries Market
The surge in the consumption of high-quality convenience food owing to changing lifestyles is one of the biggest trends in the food industry. Convenience food, such as frozen snacks, frozen meals, and frozen ready-to-eat products, allow consumers to save time and effort associated with ingredient shopping, meal preparation, cooking, consumption, and post-meal cleaning activities. The development and popularity of these food items are ascribed to many social changes; the most notable are the increasing number of smaller households and the rising millennial population worldwide. Due to hectic work schedules, millennials prefer quick, easy meals without compromising taste and nutrition. According to the 2020 Current Population Survey, there were 36.1 million single-person households in the US, accounting for 28% of all households. The growing number of one or two-person families has fueled the demand for ready-to-eat, portion-controlled foods. Frozen food products are also growing in demand as they have an extended shelf-life, are suitable for single-person consumption, and can be prepared quickly. According to the "Power of Frozen" report published by the American Frozen Food Institute and Food Industry Association, frozen food sales in the US increased by 21% in 2020. Fast-food franchises such as McDonald's, Wendy's, Johny Rocket, KFC, Burger King, and Hardy's substantially impact the North America frozen French fries market. Further, convenience foods satisfy the needs of consumers and are readily available in retail outlets or stores as well as various fast-food chains, hotels, and quick-service restaurants. The rise in retail outlets, convenience stores, and supermarkets has increased the availability of ready-to-eat food, propelling the frozen snacks industry to new heights. Thus, the growing consumption of convenience food, such as frozen French fries, is influencing the market growth.
North America Frozen French Fries Market Overview
The North America frozen French fries market is segmented into the US, Canada, and Mexico. The region is one of the major markets for frozen French fries due to the well-established food processing industry and rising trends of takeaway, dine-in, and on-the-go consumption. Many significant frozen French fries manufacturers, such as H.J. Heinz Company, J.R. Simplot Company, and McCain Foods Limited, operate actively in the region. These companies have expanded their business across the region and hold significant market share. They have a widespread distribution network in the region, which helps them to cater to a large number of audiences. Manufacturers are constantly investing to expand their business. For instance, in July 2022, Lamb Weston Holding announced an investment of US$ 415 million in a new French fries processing line in Idaho, US. Such strategic development initiatives by manufacturers in the region are driving the growth of the North America frozen French fries market. The demand for frozen French fries in North America has surged owing to the increasing consumption of convenience food due to a busy lifestyle and hectic work schedule. Rising disposable income, urbanization, and changing lifestyles further boost market growth. The high purchasing power of consumers results in rising demand for premium frozen potato products. Moreover, consumers are increasingly adopting a healthy lifestyle and demanding gluten-free, low-carb, whole-grain, and organic diet products. The well-established frozen food industry is also one of the primary factors driving the growth of the North America frozen French fries market.
North America Frozen French Fries Market Revenue and Forecast to 2030 (US$ Million)
North America Frozen French Fries Market Segmentation
The North America frozen French fries market is segmented into product type, category, end user, and country.
Based on product type, the North America frozen French fries market is segmented into regular fries, crinkle-cut fries, steak fries, and others. In 2022, the regular fries segment registered the largest share in the North America frozen French fries market.
Based on category, the North America frozen French fries market is bifurcated into organic and conventional. In 2022, the conventional segment registered the largest share in the North America frozen French fries market.
Based on end user, the North America frozen French fries market is segmented into retail and foodservice. In 2022, the foodservice segment registered the largest share in the North America frozen French fries market.
Based on country, the North America frozen French fries market is segmented into the US, Canada, Mexico. In 2022, the US registered the largest share in the North America frozen French fries market.
Agristo NV, Aviko B.V., Bart's Potato Company, Farm Frites International B.V., Himalaya Food International Ltd, J.R. Simplot Company, Lamb Weston Holdings Inc, McCain Foods Limited, and The Kraft Heinz Co are some of the leading companies operating in the North America frozen French fries market.