India Frozen Finger Chips Market to be Driven by the Increasing Demand for Cost-Effective and Convenient Snacks in the Forecast Period of 2021-2026
The new report by EMR 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 types, distribution channels, applications, and end uses. 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.
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
The frozen finger chips market in India is being driven by the growing fast-food chains and quick-service restaurants in India. The industry growth is likely to be further augmented by the rising disposable incomes, growing populations and the craze for fast-food among youth. Frozen finger chips are cost-effective and is one of the most popular items in India’s quick service restaurant segment. Therefore, the product has witnessed significant growth in India. Over the forecast period, the growing competition among the outlets, coupled with the penetration of American fast-food company Wendy in India, will further bolster the popularity of frozen finger chips. The product is hygienic, kept in low temperatures, and comes in air tight bags. Hence, the growing demand for clean labeled products in India will further propel the market growth.
Industry Definition and Major Segments
Frozen finger chips, variously known as French fries, are thin strips of pre-cut potatoes that are stored in extremely low temperatures. They are either soft or crispy, and are usually cooked in less oil. Frozen finger chips were first introduced in Western Europe and have gained significant popularity all over the world.
The major types in the industry are:
The distribution channels in the industry can be segmented as follows:
? Direct Purchase
? Hypermarket and Supermarket
? Convenience Store
On the basis of applications, the market is segmented into:
Based on the end uses, the market can be divided into
? Quick Service Restaurants (QSR)
? Pub, Bar, Cub, and Lounge
The frozen finger chips market in India is expected to be driven by the increasing innovation and efforts made by the key market players towards increasing size, enhancing taste, and improving the quality of frozen finger chips. Frozen finger chips can be easily prepared at homes through frying in low quantities of oil. Therefore, the rising demand for the product from the household segment is anticipated to be the key trend in the market over the forecast period. Further, the innovative marketing strategies adopted by the key players are expected to boost the market over the forecast period.
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, and HyFun Foods, among 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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