The new report by Expert Market Research titled, 'India Frozen Finger Chips Market Report and Forecast 2021-2026', gives an in-depth analysis of the India frozen finger chips market, assessing the market based on its segments like type, distribution channel, application, end use. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 121 Million
- Forecast CAGR (2021-2026): 20%
- Forecast Market Size (2026): USD 376 Million
One of the most popular foods in the world is finger chips or French fries. Frozen finger chips have a pleasing appearance as well as a delectable taste. The growing number of supermarkets and hypermarkets, as well as the globalisation of culinary habits, have boosted demand for frozen finger chips dramatically. They also have a longer shelf life, are easier to prepare, and come in a variety of flavours, shapes, and sizes; considerations like these help to drive market expansion.
Potatoes were introduced during the colonial period and have since become one of India's staple meals. It's popular in global meals like burgers and finger chips, as well as in Indian cuisine. Finger chips have become a popular snack among Indians as a result of the arrival and subsequent broad success of American fast-food companies like as KFC, McDonald's, and Burger King, among others. Furthermore, they are rapidly displacing famous potato snacks such as pakoras and samosas in urban Indian households, particularly among children and teens. Frozen finger chips are one of the hottest snacks on the market, and one of the most popular side dishes at stores like Big Bazaar and Spencer's Retail.
Industry Definition and Major Segments
Frozen finger chips, often known as French fries, are thin strips of potato that are chilled or frozen before being deep-fried. They are one of the most well-known dishes in the planet. They are thought to have originated in Belgium and grew in popularity in the United States following World War I. They are generally served with condiments like ketchup, vinegar, mayonnaise, or tomato sauce.
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The major types of frozen finger chips are:
The market can be broadly categorised on the basis of its distribution channels into:
- Direct Purchase
- Hypermarkets and Supermarkets
- Convenience Store
Based on applications, the market can be segmented into:
Based on the end uses, the market can be divided into:
- Quick Service Restaurants (QSR)
- Pub, Bar, Cub, and Lounge (PBCL)
The growing market for frozen foods can be attributed to India's increasing Americanization. The desire for meals such as American pizza, pancakes, burgers, and finger chips has increased in India as Indian youngsters have become more used to American culture and cuisines. Frozen finger chips are a healthy alternative to fast-food retailers' double-deep-fried finger chips and can be cooked or baked to taste. They are a popular convenience dish that is simple to make and consume. According to the Feeding Infants and Toddler Study (FITS), French fries are the most favoured vegetable among kids. The market for frozen finger chips is also being boosted by changing culinary preferences and consumption habits.
The desire for tastier and ready-to-eat meals has increased as a result of rapid urbanisation, higher consumer spending power, and the hectic lifestyles of working adults, boosting the market growth of frozen finger chips in India. The increased availability of frozen finger chips due to the rise of online shopping and numerous e-commerce platforms has boosted the market. The availability of a wide range of goods, as well as the fusion of finger chips with Indian flavours, is fueling market expansion; frozen masala French fries, for example, are quite popular in India. Although the negative health effects of finger chips may limit market growth, studies have shown that they provide a variety of health benefits and help youngsters have lower blood glucose and insulin levels. These types of studies are likely to help the frozen finger chip sector flourish.
Key Market Players
The major players in the market are McCain Foods Limited, Iscon Balaji Foods Private Limited, ITC Limited, Gujarat Cooperative Milk Marketing Federation (Amul), Godrej Agrovet Limited, HyFun Foods, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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