According to the MRFR reports, the global Potato Chips Market is likely to attain a size of over USD 48.58 Billion by the end of 2030 while flourishing at a healthy CAGR of over 4% during the forecasted era.
Potato chips refer to thin slices of potato deep-fried or baked until they are crunchy in taste. The snack is loved by people of all age groups across the globe. They are convenient and popular snacks available in numerous varieties and flavors. The global potato chips market has witnessed massive growth in recent years. The growth of the potato chips market is primarily being driven by the growing consumption of snack items such as potato chips.
Furthermore, the launch of the latest and most delicious flavors across the global market is another crucial aspect likely to catalyze the growth of the potato chips market over the review timeframe. On the other hand, the constant requirement for businesses to continually innovate their offerings is considered a primary challenge in front of the players in the potato chips market across the globe. In Addition, factors such as ever-changing tastes and preferences and strong competition from other snack items are also likely to restrict the market's growth over coming years.
Segment Analysis
The global potato chips market has been fragmented into several segments based on type, category, distribution channel, and region.
The global potato chips market is split into plain and flavored based on type.
The potato chips market is fragmented into conventional and organic based on category.
The potato chips market is divided into non-store based and store-based channels based on the distribution channel.
Regional Analysis
The potato chips market is studied across five major regions, including Europe, North America, Asia-Pacific, and the rest of the world.
As per the MRFR reports, the global potato chips market is likely to dominate the North American region over the forecasted era. The regional potato chips market's growth is driven by the upsurge in snack consumption across Canada and the U.S.
Competitive Analysis
The potato chips market has an intensely competitive landscape attributed to the increased demand for snack items. Numerous players across the globe are contributing to raising the market concentration by adopting several growth strategies such as mergers, acquisitions, partnerships, etc. The leading players in the potato chips market are making investments to launch new flavors and products to strengthen their global market footprint.
The key potato chips market players include Utz Quality Foods, Inc., Herr Foods Inc., Great Lakes Potato Chip Co., Calbe Inc., Intersnack Group GmbH Co. KG, The Kellogg Company, PespsiCo Inc., Burts Potato Chips Ltd., and several others.
Recent Developments
- January 2022- the upcycled potato chip brand from Womelsdorf-based Dieffenbach's Potato Chips, Uglies Kettle Chips, has disclosed a new package design, website, and logo. Dieffenbach disclosed in a press release that the latest-look Uglies would be on the market grounds by the end of this month. Uglies was first launched in 2017 to reduce waste, fight hunger, and support farmers by using imperfect potatoes to make kettle-cooked potato chips. The statement further revealed that the brand has upcycled over 5 million pounds of potatoes since its launch. The chips are available in Buffalo Ranch, Jalapeno, Bar-B-Que, Salt Vinegar, and Sea Salt, along with the latest Cheddar Sour Cream flavor.
- January 2022- PepsiCo has announced the new Lay's vodka launch. While PepsiCo arranges to put up a big splash in the alcohol space via its partnership with Boston Beer, the snack and beverage giant is getting an initial buzz thanks to the latest booze, including its Lay's potato chip.
- December 2021- Utz has announced the acquisition of a snack company, which makes crackers, tortilla chips, and corn chips, R.W. Garcia Holdings. The 100-year-old Hanover potato chip company, Utz Brands, disclosed in a statement that the acquisition had cost the firm over USD56 million.
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