DUBLIN--(BUSINESS WIRE)--The "Potato Chips Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global potato chips market reached a value of US$ 31.2 Billion in 2020.
The market is further expected to exhibit moderate growth during 2021-2026. Potato chips represent one of the most popular snack foods consumed across the globe. These are thin slices of potato which are seasoned after being fried until crisp.
Global Potato Chips Market Drivers:
Potato chips are one of the most convenient food options currently available for people to keep pace with their busy lifestyle. It shortens the meal preparation time and can be served in the form of a quick snack or part of the meal.
The raw materials that are used in the manufacturing of potato chips are potatoes, oil and salt, which are widely available in every part of the world. Hence, reliable supply of potatoes and other materials are ensured, thereby providing the potato chips market with a constant supply and efficient production planning.
Developing countries are expected to drive the global potato chips market in the coming years. Earlier, the consumption of potato chips was largely confined to the western countries. However, with the emerging trend of westernisation of food consumption patterns in addition to growing economy, rise in middle class population and increasing urbanisation, the consumption of potato chips in developing countries is expected to grow at a significant rate.
The growth of the organized retail sector is currently having a positive impact on the global potato chips market. Earlier, a number of global players were hesitant to sell their products in emerging regions because of lack of infrastructure, storage facilities, and appropriate knowledge about the developing markets. However, with an increase in the number of organised retail stores, many players are investing in these markets. This is anticipated to eventually result in the augmented consumption of potato chips during the next few years.
Due to the rising health consciousness among global population, several potato chips manufacturers are launching value added products that are healthier as compared to traditional potato chips. This includes products with reduced fat and calorie content, fortified with healthy ingredients, lower cholesterol, etc. Chips that are gluten-free, non-GMO verified and made with sea salt, natural colours and flavours are gaining more popularity than the traditional ones.
Other than this, potato chips manufacturers have also expanded their spending for various R&D activities to introduce more diverse products in the market so as to strengthen their product portfolio. These are some factors which are having a direct impact on the growth of the market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global potato chips market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, product type, and distribution channel.
Breakup by Product Type:
- Plain
- Flavoured
The potato chips market has been segmented on the basis of different type of product available for consumers including plain and flavoured. Currently, plain potato chips are the most preferred type of potato chips across the globe.
Breakup by Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Food Stores
- Online Stores
- Others
Based on distribution channel, potato chips can be obtained by consumers through various means such as supermarkets/hypermarkets, convenience stores, specialty food stores and online stores. Amongst these, supermarkets/hypermarkets represent the largest segment on account of the availability of a wide variety of product types and brands.
Regional Insights:
- United States
- United Kingdom
- Russia
- China
- Argentina
- Brazil
- India
On a geographical front, the United States represents the biggest market for potato chips, holding the majority of the share. This can be attributed to the snacking habit of people and increasing demand for convenient food across the region. The United States is followed by United Kingdom, Russia, China, Argentina, Brazil and India.
Competitive Landscape:
The global potato chips market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Pepsico
- Kraft Foods
- Kellogs
- Diamond
- General Mills
- Nestle
For more information about this report visit https://www.researchandmarkets.com/r/c0jhqk
