Potato Chips and Crisps Market was
worth USD 32.65 billion in 2016 and estimated to be growing at a CAGR of 4.3%,
to reach USD 40.29 billion by 2021.
Potato chips and crisps are one
of the most popular snack foods consumed worldwide. Over the years, the potato
chips and crisp market has witnessed substantial growth, turning it into a
multibillion-dollar market. However, the potato chips and crisps market is
witnessing a shift in consumption patterns, a fluctuation in price of raw
materials, and intense competition from substitutes. Manufacturers in the
market are expected to meet success by developing newer products and quickly
modifying ingredients of existing products to meet changes in consumer demand.
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Changing lifestyles and longer
working hours have reduced the tendency of consumers to have elaborate meals.
This is a key factor driving the potato chips and crisps market. A rise in the
demand for packaged food, urbanization, increasing disposable incomes of
consumers and growth in the economy of developing nations are collectively
boosting the growth of the potato chips and crisps market. On the other hand, a
rise in health consciousness among consumers has encouraged a shift towards
healthier eating patterns, such as fruits and wholegrain crackers. This is
expected to threaten the potato chips and crisps market. However, manufacturers
in the industry are responding to this threat by developing a premium range of
healthier potato chips and crisps.
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Potato Chips and Crisps Market
Segmentation by type, taste and distribution channel. By type the market is
classified into Sliced, compound, baked and dehydrated. By taste the market is
segmented into Plain, salted, chilli and flavoured. Plain potato chips
dominated this segment during the forecast period. By distribution channel the
market is analysed under Supermarkets, convenience stores, independent
retailers and others. The supermarkets accounted for a major share of the
market. On the basis of geography, the market is analysed under various regions
namely North America, Europe, Asia-Pacific and Rest of the World. The Potato
Chips and Crisps market was dominated by North America. Asia Pacific is
predicted to grow at a rapid pace in the coming few years.
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Some of the key Potato Chips and
Crisps Market leaders are Calbee Foods, Herr, Intersnack Group, and PepsiCo,
Snyder’s-Lance and UTZ Quality foods.
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