NEW YORK, April 30, 2024 /PRNewswire/ — The global potato chips market size is estimated to grow by USD 9.79 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.46% during the forecast period.
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Key Trends Fueling Growth
- Growing snacking culture:
- The way we snack has changed big time. From being something we did now and then, snacking’s now a regular thing for folks. We’re all about convenient, tasty snacks, like potato chips. We want something we can grab and munch on when we’re busy or on the move, and chips are just the ticket.
- Plus, snacking isn’t just about filling up anymore—it’s part of hanging out, whether it’s watching movies, playing games, or chilling with friends. And it’s not just about local flavors anymore; we’re all about trying new tastes from all over.
- That’s why potato chip makers are getting creative, giving us flavors from around the globe. With snacking becoming such a big deal, the market for snacks, especially potato chips, is set to keep growing.
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Major Challenges:
- Rising health and nutritional concerns
- Consumers want healthier snacks, which is tough for regular potato chip makers. Why? Because people think potato chips are bad for you – too much bad fat, salt, and calories. That makes folks less likely to buy them. So, the demand is shifting to healthier options like baked chips, veggie chips, and snacks with different ingredients.
- Making potato chips healthier without losing the taste and crunch is hard. Also, people want clean labels – simple, easy-to-understand ingredients. But some chip makers use additives and flavor stuff that can be a problem.
- And they need to be honest about health claims without tricking people. Plus, they have to follow rules about nutrition labels and health claims in different places. So, because of all this health stuff, it’s going to be tough for the potato chip market to grow like before.
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Analyst Review
Consumers’ dietary habits and health concerns have fueled the demand for gourmet flavors and ingredient-focused culinary creations.
Organized retailers have broadened their geographical footprints, positioning themselves as go-to destinations for innovative snack options.
The market’s focus on health consciousness and emerging regions has led to a diverse range of flavors and ingredient combinations, further enriching the food culture and snack culture landscape. Consumer spending on specialty food items continues to rise, making the Potato Chips Market an exciting and competitive space.
Market Overview
The Potato Chips market is a significant segment of the global snack industry. Consumers’ preference for convenient and tasty snack options has led to the growth of this market. The use of innovative flavors, such as barbeque, sour cream and onion, and cheddar and sour cream, has attracted a large consumer base.
The market is competitive, with key players focusing on expanding their product portfolios and increasing their market share. The use of organic and natural ingredients is a growing trend in the market. The convenience of potato chips as a snack makes them a popular choice for consumers, particularly in the US and Europe.
The market is expected to continue growing due to increasing consumer demand and the entry of new players. The market’s future looks bright, with opportunities for growth in emerging markets and the development of new and innovative products.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
- Flavor
- Plain Or Salted
- Flavored
- Product
- Fried
- Baked
- Geography
- APAC
- North America
- Europe
- South America
- Middle East And Africa
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
