Global Potato Chips Market was valued at US$ 17103.8 Million in 2019. The market witnessed a significant rise during the period 2013-2018 and this trend is likely to continue as the market shows a compound annual growth rate of 7% between 2019 and 2029. Growing demand for snacks Which helps to grow the market among all age groups.
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Increased launches and development of major brands of potato chips are expected to drive the overall growth of the potato chips market. Leading manufacturers focus on expanding their footprint in regions other than the United States. The penetration of the recognized manufacturers ensures a competitive market scenario and leads to the release of many diversifications of Potato Products which are estimated to drive the growth of the overall market. In addition, due to the increasing penetration of social media platforms, customers have become aware of many global brands. Manufacturers in the market, including Bob’s Red Mill and McCain Foods Limited, are known for their premium products, including chips. These brands pay heavily on brands, online advertising, and other channels, thus. Their marketing strategies are the main drivers of potato chip sales.
The increasing demand for extruded snacks as well as bakery products is expected to boost the potato chips market in the forecast period. The major players are adopting various strategies to maintain a strong foothold in the potato chips market.” Says FMI Analyst.
Key Takeaways from Potato Chips Market Study
- According to the FMI study of the imitation potato market, a large consumer base is looking for products obtained from natural sources. Potato chips are generally used in dishes that require mashed potatoes. Potato chips are used as a thickener or base for preparing ready-to-eat vegetable broths and soups. It is also used as an ingredient for potato chips, woven potato products, snack pellets, etc. Hence, the demand for potato chips is on the rise.
- The global potato chips market has been segmented on the basis of end use, with consumer segment buyer holding the largest share. However, in the coming period, it is estimated that buyer-to-buyer segment will show positive growth due to its increasing applications in various food products.
- Based on nature, the global potato chips market is segmented into organic and conventional types. Due to the growing health concern, consumers are looking for products that are naturally grown, chemical-free, and non-GMO.
- Eastern Europe and APEJ are expected to lead the global potato chips market in terms of value. Potato chips are in great demand in North America. Western Europe is expected to show a high growth rate in forecast years. The Latin American market, which is dominated by Brazil, also shows a high demand for chips.
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Who’s the winner?
Idahoan Foods, McCain Foods Limited, Nestle SA, Inc., Clarebout Potatoes NV, Goodrich Cereals, Lamb Weston Holdings, Inc., Iscon Balaji Foods Pvt Limited, Lutosa SA, Patwary Potato Flakes Ltd., Bem Brasil Alimentos LTDA, Rixona BV, Agrarfrost GmbH & Co. is a KG, Nahr-Engel GmbH, and Basic American Foods, Inc. And Bob’s Red Mill Natural Foods is among the major players in the market.
The leading companies operating in the potato chips market are aiming for regional expansion by targeting local distributors to increase their sales of potato chips and provide high quality products to customers.
- In March 2018, Nestle SA opened a new quality assurance laboratory in Araras, Brazil. The move aims to strengthen the company’s organic product portfolio in the region. The company invested about 6.9 million US dollars to build the new facility. The Quality Assurance Facility will ensure that their organic products are free of pesticides and GMOs.
- In April 2018, McCain Foods Limited completed a strategic investment with a highly innovative agricultural company, TruLeaf Sustainable Agriculture. Through this partnership, the company is expected to set new standards for efficient crop production and care for the environment.
- In 2017, Lamb Weston Holdings, Inc. By expanding its factory in Richald Washington by 2,90,000 square feet, increasing its production capacity by approximately £300 million annually.
Discover more valuable insights about Potato Chips Market
Future Market Insights, in its new presentation, provides an unbiased analysis of the global Potato Chips market, presenting historical demand data (2013-2018) and forecast statistics for the period 2019-2029. The study reveals compelling insights into the potato chips market based on end use (B2B & B2C), nature (organic and conventional), across seven major regions.
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Frequently Asked Questions About The Global Potato Chips Market
Which potato chip products, based on source, will lead the market?
In the current scenario, the conventional potato chips segment occupies the largest market share. However, it is expected that in the coming years organic potato chips will show higher growth compared to the former due to its higher nutritional value.
What end-use segment offers the most profitable growth opportunities for market players?
Potato chips are food items rich in carbohydrates and fiber and are one of the best snack sources. In terms of end use, the business-to-consumer segment holds a high market share as compared to the business-to-business segment.
What is the degree of competition in the potato chips market?
The global potato chips market is identified as highly regulated in developed and developing economies. The major manufacturers operating in the global potato chips market focus on launching products and expanding their footprint by cooperating with regional distributors/suppliers to increase their customer base.
Which region will lead the global sales of potato chips products?
APEJ remains the major contributor to the potato chips market. However, North America is expected to show higher growth.
What are the factors driving the Potato Chips Market?
The potato chips market is driven by factors such as the significant growth rate witnessed in the baby food market and the increase in individual spending on prepared foods. Apart from these factors, the increasing demand for ready-to-eat products is fueling the demand for potato chips.