Food & Beverage Industry Analysis

The global potato chips & crisps market is projected to record a CAGR of 4.12% during the forecast period due to the high demand for snack products

The global potato chips & crisps market is projected to exhibit a CAGR of 4.12% during the forecast period of 2021 to 2028.

the following companies as the key players in the global potato chips & crisps market:PepsiCo, Inc. (US), Kellogg Company (US), Burts Potato Chips Ltd (UK), Calbee Inc. (Japan), Utz Quality Foods, Inc. (US), Great Lakes Potato Chip Co. (US), The Lorenz Bahlsen Snack-World GmbH & Co KG (Germany), Herr Foods Inc. (US), The Campbell Soup Company (US), and Intersnack Group GmbH & Co. KG. (Germany).

Market Highlights

The global potato chips & crisps market is projected to be valued at USD 37,490.8 million by 2028, recording a CAGR of 4.12% during the forecast period. High demand for snacks products and continuous R&D innovation by potato chips and crisps manufacturers is likely to support the growth of the global potato chips & crisps market.The rising demand for organic products and massive growth of online sales are expected to create lucrative opportunities during the review period.

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Segmental Analysis

The global potato chips & crisps market has been segmented based on type, category, distribution channel, and region.

By type, the market has been divided into flavored and plain. The flavored segment accounted for alarger market share in 2020, where as the plain segment is expected to record a higher CAGR of 4.70% during the forecast period. Flavored potato chips & crisps are products with additional flavors that have been added to enhance the taste. The flavor is one of the essential attributes of a product that has a stronginfluence on consumer buying behavior as it helps enhance the eating experience of the consumers.

Based on category, the global potato chips & crisps market has been classified as conventional and organic. The conventional segment accounted for a larger market share in 2020. Conventional potato chips & crisps are produced from potato grown using conventional farming practices. Conventional growing of potato is opposite to organic growing, which means it is not free from synthetic chemicals such as pesticides, fertilizers, hormones, and antibiotics. Organically grown produce has lower detectable levels of pesticide residue as compared to conventionally grown produce. Conventional foods can also be genetically modified or may contain genetically modified organisms. Thus, conventional chips & crisps are not in their purest form. However, conventional products are lower in price as compared to organic products.

Based on distribution channel, the global potato chips & crisps market has been divided into store-based and non-store-based. The store-based segment accounted for a dominant share of the market in 2020, while the non-store-based segment is projected to exhibit the higher CAGR during the forecast period.The store-based segment has been divided into supermarkets & hypermarkets, convenience stores, and others. The supermarkets & hypermarkets sub-segment is expected to be the largest, as these channels account for the maximum sale of potato chips & crisps. The segment is growing owing to strong vendor networks, high product appeal due to lucrative packaging, and ease of availability. The convenience of shopping in one place drives consumers to supermarkets and hypermarkets. These stores offer limited space dedicated solely to a certain food product, with a wide range of products from which to choose. Furthermore, customers are often guided by the price above other considerations, and supermarkets and hypermarkets provide discounts to attract buyers.

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Regional Analysis

In terms of region, the global potato chips & crisps market has been categorized as North America, Europe, Asia-Pacific, and the Rest of the World. As per CRI analysis, North America constituted a dominant share of the potato chips & crisps market in 2020. An increase in demand for ready-to-eat snacks and convenient foods due to the hectic lifestyle of the people in the region is expected to boost the growth of the North America potato chips & crisps market during the forecast period. Moreover, several manufacturers in the region are focusing on launching innovative flavors that offer a wide variety of flavors, tastes, and textures of chips to consumers, further boosting the growth of the North America potato chips & crisps market during the forecast period.In North America, the US is the major contributor to the growth of the potato chips & crisps market.The Asia-Pacific potato chips & crisps market is projected to register the highest CAGR of 4.53% during the forecast period.

Key Findings of the Study:

    • The global potato chips & crisps market is projected to register a growth rate of 4.12%from 2021 to 2028.

 

    • The flavored segment is estimated to retain its prominent share till 2028 where as, the plain segment is projected to record a CAGR of 4.70% during the forecast period.

 

    • The conventionalsegment accounted for the largest market share in 2020 and is expected to grow at a rate of 4.08% during the forecast period.

 

    • The store-based segment is estimated to retain its dominant share till 2028, where as the non-store-based segment is estimated to register a growth rate of 4.79% during the forecast period.

 

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