Dublin, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The "Potato Chips Market Global Report by Product Type, Distribution Channel, Country and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The Potato Chips market is expected to reach US$ 35.23 Billion in 2023 to US$ 49.07 Billion by 2032, with a CAGR of 3.75 % from 2024 to 2032
The market is expanding quickly due to a number of factors, including shifting consumer preferences, quick innovation in flavors and packaging, substantial expansion in retail channels, rising global disposable income, and an increase in urbanization activities that are affecting consumer lifestyle and purchase behavior.
Global Potato Chips Overview
One of the most practical foods for individuals to eat in order to maintain their hectic lifestyles is potato chips. It reduces the amount of time needed to prepare meals and can be eaten as a quick snack or a main course. Therefore, another factor propelling the worldwide potato chip market is the food's convenience. Some potato chip producers are making value-added products that are healthier than regular potato chips as the global population grows more health-conscious.
This includes products that are lower in calories, fat, and cholesterol and that are fortified with nutritious ingredients, among other things. Chips made with sea salt, natural flavors, and colors, and proven to be gluten-free and non-GMO are gaining popularity over regular chips. For instance, as business continued to grow, SpudLove Organic Thick-Cut Potato Chips stated in June 2022 that it intended to open locations in all 509 Whole Foods Markets across the country.
The recently released goods, according to SpudLove, were thick-cut potato chips that had been validated by the Non-GMO Project, USDA certified organic, and gluten-free. The market for potato chips is really vibrant. Because there are many competitors in the market, businesses are always reimagining their goods and use different tactics, such as unique selling propositions, to boost sales. For example, Lay's increased their market share in India in 2022 by launching a new line of flat-cuts and Lay's Wafer Style, the brand's thinnest chip line.
Growth Drivers for the Potato Chips Market
Quick innovation in packaging and flavors
Producers are realizing that flavor innovation is a big draw for customers, therefore they are spending in R&D to provide a wider variety of taste experiences. Accordingly, the market is expanding due to the development of gourmet and exotic flavors as well as versions influenced by regional and global cuisines, which appeal to a more daring customer base searching for novel and exciting snacking options.
The creation of appealing, practical, and environmentally friendly packaging choices that satisfy customers' aesthetic tastes and environmental principles is also having a beneficial effect on the market's expansion. The market for potato chips is also growing as a result of the use of contemporary packaging techniques that preserve freshness, increase portability, and increase the shelf life of potato chips.
Increasing levels of disposable income
Globally rising disposable incomes are enabling customers to spend more on non-essential items like snack foods, which is driving the market's expansion. Additionally, customers are choosing convenience meals, experimenting with new flavors, and indulging in high-quality snack options, all of which are driving the market's expansion.
Furthermore, the industry is growing because of the direct relationship between disposable income and snack consumption, which shows that as income levels rise, customer preferences change toward branded and premium goods. Aside from this, producers are propelling the market expansion by introducing premium categories, limited edition flavors, or healthier potato chip varieties, catering to the wealthier consumers who are prepared to pay a premium for extra value.
Potato Chips Company Analysis
The major participants in the Potato Chips market includes General Mills, Kellogg's Company, The Kraft Heinz Company, PepsiCo Inc., Mondelez International, Herr Foods Inc., Calbee Inc., Utz Brands, Inc.
Potato Chips Company News
In April 2024, Crocs and Pringles made the perfect snacking partner. They unveiled several limited-edition products from the ""Pringles X Crocs"" partnership, including the boots (shown above) that retailed for $100 and came in men's and women's sizes.
In February 2024, A heart-shaped potato-based pellet format called Lay's Shapez was introduced by PepsiCo India as a subbrand under its main brand. Lay offers masala flavor in addition to caramel taste in their Shapez Heartiez line. Lay is entering the sweet-flavored chip market with this. The company wants to introduce new goods that will broaden its selection of potato chip snacks.
Company Analysis: Overview, Key Personnel, Recent Developments & Strategies, Product Portfolio & Product Launches, Revenue
- General Mills
- Kellogg's Company
- The Kraft Heinz Company
- PepsiCo Inc.
- Mondelez International
- Herr Foods Inc.
- Calbee Inc.
- Utz Brands, Inc.
Key Topics Covered:
1. Introductions
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Driver
4.2 Challenges/p>
5. Global Potato Chips Market
6. Global Potato Chips Market Share Analysis
6.1 By Product Type
6.2 By Distribution Channel
6.3 By Country Types
7. Product Types - Global Potato Chips Market
7.1 Plain Chips
7.2 Flavored Chips
8. Distribution Channel - Global Potato Chips Market
8.1 Supermarket/Hypermarket
8.2 Convenience Stores
8.3 Specialty Stores
8.4 Online Stores
8.5 Others
9. Country - Global Potato Chips Market
9.1 North America
9.1.1 United States
9.1.2 Canada
9.2 Europe
9.2.1 France
9.2.2 Germany
9.2.3 Italy
9.2.4 Spain
9.2.5 United Kingdom
9.2.6 Belgium
9.2.7 Netherlands
9.2.8 Turkey
9.3 Asia Pacific
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 Australia
9.3.5 South Korea
9.3.6 Thailand
9.3.7 Malaysia
9.3.8 Indonesia
9.3.9 New Zealand
9.4 Latin America
9.4.1 Brazil
9.4.2 Mexico
9.4.3 Argentina
9.5 Middle East & Africa
9.5.1 South Africa
9.5.2 Saudi Arabia
9.5.3 United Arab Emirates
10. Porter's Five Forces
10.1 Bargaining Power of Buyers
10.2 Bargaining Power of Suppliers
10.3 Degree of Rivalry
10.4 Threat of New Entrants
10.5 Threat of Substitutes
11. SWOT Analysis
11.1 Strength
11.2 Weakness
11.3 Opportunity
11.4 Threat
12. Merger & Acquisitions
13. Key Players Analysis
For more information about this report visit https://www.researchandmarkets.com/r/4xsaim
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