The alliances and strategic diversifications are acknowledged to hold a significant position in the growth of the frozen French fries market. These strategies imply that food processing companies, fast food chains, retailers, and distributors should increase the availability of products, upgrade their quality, and respond to growing demand.
According to the UnivDatos Market Insights analysis, the surge in innovative product launches as per consumer demand and the rising trend of ready-to-eat food will drive the global scenario of the frozen French fries market. As per their “Frozen French Fries Market” report, the global market was valued at ~USD 25 billion in 2023, growing at a CAGR of about 4.5% during the forecast period from 2024 - 2032 to reach USD billion by 2032.
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Forming business partnerships with the fast-food industry increases production capacity, provides new geographical locations, and broadens distribution channels that help to grow the frozen French fries market. These strategies guarantee businesses timely access to the required volume of ready-made products and also contribute to the definition of more promising niches and changes in the consumers’ preferences. Practices such as new innovative solutions and serving health-inclined customers provide further encouragement to market growth in terms of sustainable practices. Here are some of the factors influencing the market:
· Long-Term Supply Agreements: Leading players in frozen French fries like McCain Foods, Lamb Weston, and JR Simplot hold long-term sales contracts with fast-food chains like McDonalds, Burger King, and KFC. Such partnerships further provide an assured and dependable source of superior quality frozen French fries, subsequently meeting the increasing and rigid demand from the consumers in these chains.
· Co-development of Products: Co-development of products can lead to better outcomes. For instance, McDonald' may encourage farmers to grow potatoes best suited to its fries taste ultimately meeting standards as expected by its consumers.
· Joint Marketing Efforts: Promotion of products through producers and fast-food chains tend to have higher chances of passing a certain appeal and visibility. Huge sales mobilization through attractive offers like, ‘Combo Meals,’ ‘Limited Time Deals,’ may incorporate a potato chip novelty.
· Easier Penetration into New Markets: Company expansion requires the company to build factories within these regions, while working with local distributors for easy access to the supply chain is an easier option.
· Collaborative Sustainability Initiatives: Sustainability is managed in practice through cooperation between producers and partners to implement such activities focused on reducing water consumption, reducing energy consumption, or using environmentally friendly packages. These measures can assist brands in carving a niche for themselves in such a competitive market by appealing to the growing stereotype of the ecologically sensitive customer.
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Recent developments in the market are:
· In April 2024, Canada’s French fries giant McCain Foods acquired Irish plant-based frozen-food company Strong Roots to scale Strong Roots’ product range and to take the brand into more markets.
· In March 2024, E-grocery major BigBasket partnered with chef and entrepreneur Sanjeev Kapoor to launch a frozen foods brand Precia, featuring frozen vegetables, snacks, and sweets.
· In August 2023, Tereos signed a memorandum of understanding with Agristo to enable the development of a food processing activity on the site of its former sugar factory in France. The Belgian group Agristo plans to set up a production unit for frozen potato products.
With dignified applications, these approaches will hopefully burgeon the global frozen French fries market in the upcoming years. However, the journey towards universal adoption of new approaches comes with challenges. Primary concerns include the safety implications associated with the frozen food sector, which limit their accessibility. The consumer goods industry's evolution through innovative products undeniably transforms the market. The current trajectory is anticipated to continue to elevate, bringing hope to people worldwide.
Conclusion
Despite the hurdles, the future of frozen French fries is undeniably bright. A new dawn is breaking in the development of the innovative consumer goods industry. There's no denying that these products are transforming the way of operating the industry, bringing enormous varieties to the population worldwide.
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