Potato Chips Market Demand | Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 to 2023

Market Analysis:

Potato chips are one of the most popular snacks consumed all over the world. The busy lifestyle of population in developed and developing regions is inclining the consumers towards quick snacking. Market Research Future (MRFR) has published a report stating that the global potato chips market is marked to expand at a noteworthy growth rate during the forecast period of 2017-2023.

Industry Updates:

In October 2018, Cape Cod Potato Chips, a U.S.-based snack food company, has announced that it has released Cape Cod® Pink Himalayan Salt & Red Wine Vinegar Potato Chips in support of Breast Cancer Awareness Month.

In October 2018, Iceland, a British grocer, has launched a new flavor of potato chips, Luxury Christmas Tree Flavor Salted Hand-Cooked Crisp, that taste like pine trees.

In October 2018, Lay's, PepsiCo’s potato chips brand, has launched Durian flavored potato chips which will be introduced in China.

In October 2018, Walkers has announced that it will be launching a range of Christmas flavored chips which include three different flavors such as Turkey & Stuffing, Pigs in Blankets and Brussels Sprouts.

In October 2018, Mrs. Fishers, a popular Rockford-based potato chips company, has announced the launch of several new flavors, including 'Dark' chip flavor.

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Key players Review:

The prominent players profiled by MRFR that are operating in the Global Potato Chips Market are Diamond Foods, Inc. (the U.S.), PepsiCo, Inc. (the U.S.), CALBEE, Inc. (Japan), Herr Foods Inc. (the U.S.), Lorenz Bahlsen Snack-World Group (Germany), Intersnack Group (Germany) and Snyder’s-Lance (the U.S.)

Market Drivers and Restraints:

Changing dietary habits and introduction of innovative flavors in potato chips are some of the primary factors that are propelling the growth of the global potato chips market. Significant increase in manufacturing activities and proliferation of players operating in the global market are resulting in the notable growth of the global potato chips market. With global rise in young population, the demand for savory snacks, especially potato chips, has increased significantly, leading to the expansion of the global potato chips market. Introduction of healthier options such as low-sodium chips, low-fat chips, baked potato chips and others is impacting positively on the expansion of the global potato chips market. Increasing popularity of potato chips as appetizers and side dish and availability of multiple flavors of potato chips are fueling the growth of the global potato chips market. However, intense competition from substitutes and fluctuating prices of raw materials are likely to restrain the growth of the global potato chips market during the forecast period.

Market Segmentation:

The global potato chips market has been segmented on the basis of flavor, product type, specialty and distribution channel. Based on flavor, the potato chips market has been segmented into barbecue, cheddar & sour cream, salt & pepper, classic potato chips, spicy jalapeno, cheese & onion, and others. The salt and pepper segment is forecasted to constitute for a major share in the global potato chips market. Based on product type, the potato chips market has been segmented into salted, chili, plain, flavored and others. The salted and chili segments account for the lion's share in the potato chips market in the Asia Pacific region. Based on specialty, the potato chips market has been segmented into gluten-free, GMO- free, vegetarian, kosher, organic and others. Based on distribution channel, the potato chips market has been segmented into supermarket/hypermarket, convenience store, e-commerce and others.

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Regional Analysis:

Geographically, the global potato chips market has been segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. The North America region is forecasted to project dominance over the global potato chips market owing to the high demand for savory products and increasing popularity of innovative flavors of potato chips in this region. The potato chips market in the Asia Pacific region is expanding at a significant growth rate owing to the increased production of potato chips in order to meet the high global demand and rise in popularity of quick snacks among the young population in this region. Increasing presence of manufacturers operating in the potato chips market is propelling the growth of the potato chips market in the Europe region.

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This release was published on openPR.