Potato Chips Market Outlook
According to the report by Expert Market Research (EMR), the Global Potato Chips Market Size reached a value of approximately USD 30.7 billion in 2022. Aided by the increasing demand for convenience food items and the rising popularity of potato chips across different demographics, the market is projected to further grow at a CAGR of 4.3% between 2023 and 2028 to reach a value of USD 39.52 billion by 2028.
Potato chips are thin slices of potato that are deep-fried, baked, or kettle-cooked until they are crispy. They are consumed as a snack and come in various flavours, catering to diverse taste preferences. These snacks have been long favoured for their delicious taste, satisfying crunch, and convenience. Apart from its culinary appeal, potato chips are also a significant part of the snack food industry, fuelling its growth across the globe.
The rising consumer preference for convenience food items is driving the global potato chips market growth. With the fast-paced lifestyle of the modern consumer, there has been a significant shift towards easy-to-consume food items, leading to a surge in demand for potato chips. The ready-to-eat nature of potato chips, coupled with their wide availability, makes them a popular snack choice among consumers worldwide.
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In addition to this, potato chips manufacturers are constantly innovating their product line to cater to the evolving taste preferences of consumers, thus aiding the potato chips market growth. From introducing new flavours to launching healthier variants like organic and baked potato chips, the industry is continuously evolving, thereby enhancing its appeal to a wider consumer base.
Furthermore, the role of effective marketing strategies in boosting the popularity of potato chips cannot be understated. Advertisements and promotional campaigns, especially those aimed at the younger demographic, have significantly contributed to the widespread acceptance of potato chips as a go-to snack option.
The packaging advancements in the snack food industry also play a pivotal role in propelling the potato chips market expansion. Today’s packaging not only ensures the longevity and crispness of the product but also adds to its visual appeal, thereby attracting more consumers. Moreover, the increasing penetration of organised retail outlets and online retail platforms has made potato chips readily available to consumers, further augmenting the potato chips market development.
Potato Chips Market Segmentation
The market can be divided based on product type, flavour, distribution channel, and region.
Market Breakup by Product Type
- Baked
- Fried
Market Breakup by Flavour
- Plain/Salted
- Flavoured
Market Breakup by Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Speciality Food Stores
- Online Stores
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global potato chips companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Kellogg Company
- PepsiCo, Inc.
- Utz Brands, Inc.
- The Lorenz Bahlsen Snack-World GmbH & Co KG
- Campbell Soup Company
- Burts Snacks Limited
- Herr Foods Inc.
- Calbee, Inc.
- Intersnack Group GmbH & Co. KG
- Haldiram Manufacturing Co. Pvt. Ltd.
- Others
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