Posted on 17 Jun 2017
A new research report titled “Global Potato Chips Market - Global Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast, 2017 To 2022” by Syndicated Analytics estimates that the market was worth US$ 27 Billion in 2016, registering a CAGR of 4% during the year 2009-2016. The report further anticipates the market to cross US$ 30 Billion by 2022, at a projected CAGR of 4% over the forecast period.
As a result of the maturity, the market is currently experiencing a slowdown in the developed regions. Moreover, rising cases of obesity and other health conditions have also influenced consumers to shift towards healthier snack alternatives. In line with this, manufacturers are now introducing new product varieties that are low in fat and sodium so as to meet consumers’ requirements.
The global potato chips market has witnessed a moderate growth over the past several years. This can be accredited to a number of factors. It has been witnessed that potato chips represent a popular snack food among the younger population. This rapidly growing population segment is, thus, augmenting the demand for potato chips globally. Furthermore, hectic lifestyles coupled with long working hours have resulted in a shift towards desk snacks and packaged foods. Easy availability, affordability, increasing disposable incomes, urbanisation, as well as changing food habits, particularly in the emerging regions are some of the other factors that have also positively added to the market growth.
However, there are some factors that negatively affect the global demand for potato chips. Growing health consciousness among consumers coupled with availability of healthier substitutes remain the major forces inhibiting the market growth.
On a geographical front, the United States enjoys a leading position in the global potato chips market as a result of the availability of unique flavours. The introduction of newer flavours and the increasing demand for ready-to-eat snacks have contributed to the market growth. The region accounts for around a fifth of the total global market share. Other major markets include the United Kingdom, Russia, China, Argentina, Brazil and India.
The market is highly fragmented with the presence of numerous small and large players. These players are focussing on improving tastes and flavours so as to meet varied consumers’ demand. Some of the leading players operating in the market are:
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