Press release
Potato Chips and Crisps Market Size Estimated to Reach $45.7 Billion by 2025
Potato Chips and Crisps Market
Full Report Link @ https://www.industryarc.com/Report/16648/potato-chipscrisps-market.html
By Taste- Segment Analysis
Based on the Taste, the Plain segment held the largest share in 2019 owing to the factors such as customers preferring traditional chips, combining the conventional chips with gourmets, preferring less salt owing to rise in chronic diseases. Flavored segment is estimated to be the fastest growing segment with a CAGR of 3.8% during the forecast period 2020-2025.The growth in this segment is owing to the factors such as choice of availability of flavor, growing demand in the young population and growing inclination towards taste.
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By Distribution Channel- Segment Analysis
Based on the Distribution Channel, the Super Market segment held the largest share in 2019 owing to the factors such as availability of discounts on bulk purchases, rapid increase in the number of grocery stores, good quality chips at preferred prices and no risk of bad debts. Online Retailing segment is estimated to be the fastest growing segment owing to the factors such as availability of choosing from a wide range of flavors of potato chips and crisps, easy accessibility and easy cost comparison among various flavors of chips.
By Geography - Segment Analysis
Based on the Geography, the North America held the largest share in 2019 with a market share of 43% in 2019 of the overall market share. The growth in this segment is owing to the factors such as sedentary lifestyle, advancements in technology, growth in the investment in the developed countries and inclination towards taste. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as growth in the income of developing countries, more young population and inclination towards western lifestyle.
Drivers – Potato Chips and Crisps Market
Choice of availability of flavor and sedentary lifestyle
Potato Chips and Crisps manufactures are introducing various flavors like cheese and onion, cream cheese, paprika to attract the customers. New products are introduced into the market according to the need and taste of the customers and are made easily available to the customers through technology which is estimated to enhance the growth of Potato Chips and Crisps Market. The sedentary lifestyle of the customers is also estimated to enhance the growth of Potato Chips and Crisps Market.
Rapid Growth in the income of individuals in the developing countries
The increase in the disposable income made the customers incline towards convenience and sedentary lifestyle. Individuals are getting attracted to western lifestyle which is estimated to enhance the growth of Potato Chips and Crisps Market.
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Challenges – Potato Chips and Crisps Market
Growing awareness regarding health owing to rise in the number of chronic diseases
Awareness regarding health is increasing among customers owing to rise in the number of chronic diseases especially diabetes and blood pressure. Customers are changing their eating patterns and converting into healthy foods and grains which is estimated to reduce the growth of Potato Chips and Crisps Market.
Potato Chips and Crisps Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Potato Chips and Crisps Market. Key companies of this market are PepsiCo Inc, Herr Foods Inc, Utz Quality Foods Inc, Intersnack Group, Synders-Lance, Calbee Foods, The Campbell Soup Company, The Kellogg Company, Great Lakes Potato Chips, Burts Potato Chips Ltd among others.
Acquisitions/Product Launches:
In 2017, Kellogg Company has launched five new potato chips and crisps flavors such as Fiery Chili Lime, Mighty Margherita Pizza, Salsa Fiesta, Spicy Queso and Super Cheesy Italian.
In 2017, Campbell has acquired Synders-Lance to expand the faster growing snacking industry especially chips and crisps category.
In 2018, PepsiCo entered into an agreement with Bare Foods for expanding the portfolio into baked fruits, potato chips and other vegetable snacks.
Key Takeaways
Geographically, North America’s Potato Chips and Crisps market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
The increase in the technology and economic growth of the developing countries is likely to aid in the market growth of Potato Chips and Crips Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Potato Chips and Crisps Market report.
Manufacturing Companies offering various flavors of potato chips and crisps are creating higher opportunities for the growth of market for the forecast period 2020-2025.
Related Reports :
A. Potato Processing Market
https://www.industryarc.com/Research/Potato-Processing-Market-Research-504483
B. Frozen Potato Market
https://www.industryarc.com/Research/Frozen-Potato-Market-Research-504882
For more Food and Beverages Market reports @ https://www.industryarc.com/Domain/6/food-beverages-market-research.html
Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
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