Global Potato Chips Market: Industry Analysis and Opportunity and Forecast to 2027
Global Potato chips market size – Overview
The emerging market
opportunities for potato chips appear to be conducive for the acceptance of
convenience food in the European and North American region. Market Research
Future, a firm which specializes in market reports related to the Foods,
Beverages & Nutrition sector among others, recently forecasted in its
report “Global Potato chips market size Research Report- Forecast to 2023” that
the market will demonstrate an exceptional CAGR 6.3% while achieving million-dollar
growth readily in the forecast period.
The Global potato
chips market size is mainly driven by increasing consumption of savory snacks
specially potato chips in Asia Pacific and North American region from last few
years. Changing eating preferences and increase in the disposable income has
boosted the sales of potato chips in developing countries. Additionally, rising
consumer awareness about health has influenced the key players to introduce new
products which are healthier than usual potato chips which are influencing the
growth of the market.
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Consumers are
demanding varieties in snacks, which is encouraging companies to launch new
products with new flavors and packaging. Several companies have been announcing
the launch of products with new tastes, flavors, and shapes to maintain their
competitiveness in the market.
Moreover, customers’
increasing inclination towards organic foods is compelling the potato chips
companies to innovate their products for customer retention. Availability of
resources and large consumer base is creating huge opportunity for key players
to expand their business in Asia Pacific region especially in the developing
countries like China and India. Innovation in flavor and packaging form major
players is attracting the consumers to buy potato chips compare to other snacks
which is influencing the market growth in North America and Europe.
Latest Industry
Updates
May 2017 McCain Foods
has launched Rustic Chips new range of skin-on chips, which has the nutritious
natural taste of potato. The potato chips are made with natural ingredients and
no artificial colors or flavors. The company has created a product that fits
one of the biggest trends in Australia’s food industry, which is providing more
natural products for consumers.
Mar 2017 PepsiCo
Inc.'s Frito-Lay division has rolled out its newest product, Poppables, a
“multi-dimensional” potato puff, which is available at retailers nationwide.
The company is focusing more towards new product launch.
Jan 2017 The
Pennsylvanian snack manufacturer Dieffenbach's Potato Chips Inc. has launched a
new potato chip brand named 'Uglies'. The chips are produced from potatoes that
farmers would likely be throwing away due to minor imperfections.
Oct 2016 Utz Quality
Foods, LLC, the U.S.’s largest privately held snack food company, has completed
the acquisition of Golden Enterprises, Inc. by Utz Quality Foods, LLC. This
merger will allow the Golden Flake brand to continue to grow in the South
eastern markets, whith expanding the product selections for our consumers.
Global Potato chips
market size - Competitive Analysis
Key manufacturers are
focusing to enhance its brand name by arranging various promotional activities.
The companies are actively involved in various social media promotions, events
and interaction with the consumers. The manufacturers have demonstrated their
new product offerings in order to attract the new customers. By this strategy
the product of the company will be popular among the consumers which will aid
to increase the overall profitability of the company.
Moreover, the key
players are emphasizing in the research & development process in order to
introduce new product also to extend the product line. Key players are
introducing new potato chips in different flavors to increase the volume sales
and also to increase the overall revenue of the company. In addition,
manufacturers focus on effective packaging design has a noticeable impact on
consumers’ shopping behavior. Packaging plays a significant role in product
marketing for any business that makes or sells products and act as selling
point for many consumers by delivering a sense of quality and reflect the
product’s brand image.
The key players
profiled in potato chips are PepsiCo, Inc. (U.S.), CALBEE, Inc. (Japan),
Diamond Foods, Inc.(U.S.), Herr Foods Inc. (U.S.), Lorenz Bahlsen Snack-World
Group (Germany), Intersnack Group (Germany) and Snyder’s-Lance (U.S.)
Global Potato chips
market size – Segments
The global potato chips market
size has been divided into type, distribution channel, and region.
On the Basis of Type:
Plain, Salted, Flavored, and Others.
On the Basis of
Distribution Channel: Store-based and Non-store based
On the Basis of
Region: North America, Europe, Asia Pacific, and ROW
Global Potato chips
market size - Regional Analysis
The global potato
chips market size is segmented into North America, Europe, Asia Pacific, and
rest of the world (RoW). Europe is dominating the global market followed by
North America. Among the entire regions, North America is estimated to retain
its dominance throughout the forecast period of 2017-2023. The U.S. is the major
consumer of potato chips in the North American region. The growth of the potato
chips market size in North America is expected to be driven by various factors.
One of the significant factors for the mounting growth of potato chips market
size in North America is increasing demand for convenience food among the
consumers coupled with introduction of new product launch by the key players of
potato chips.
However, Asia Pacific
region is projected to expand at a high pace in the upcoming decade. The growth
of the Asia Pacific region is attributed to the new product launch by the key
manufacturers and consumers are seeking to the ready to eat food products
instead of the traditional potato chips. Also, consumers in Asia Pacific are
increasingly accepting western culture which in turn accelerates the sales of
potato chips during the forecast period of 2017-2023.
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NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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