PUBLISHER: Market Research Future | PRODUCT CODE: 1578142
PUBLISHER: Market Research Future | PRODUCT CODE: 1578142
Global Potato chips Market Research Report Information by Type (fried and baked), By Category (organic, and regular), By Flavor (flavored, and plain/salted), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, and Online), and By Region (North America, Europe, Asia-Pacific, South America, and Middle East and Africa) - Forecast Till 2032
Overview of the Market
The potato chips market is expected to expand at a compound annual growth rate (CAGR) of 5.41% from 2024 to 2032, from USD 34,7047 million in 2024 to USD 50,286.00 million in 2032. The steady demand for potato chips is fueled by the growing popularity of snacking. Global demand is being driven by rising clean label snack demand as well as product innovation and variety. Additionally, a major factor driving potato chip sales is the growing need for nutritious snacks.
Consumers across the world have always loved potato chips, which are leading the way in the snack industry's revolution. The increase in snacking habits among people is the main factor driving the significant expansion in the worldwide potato chip industry. The primary causes of this variation in people's eating habits are shifting lifestyles, an increase in the desire for quick and ready-to-eat food items and shifting tastes. One of the most widely consumed snack foods, potato chips, has benefited greatly from this trend. The current population's increasingly busy lifestyle is the main factor driving the snacking trend's expansion. Due to hectic schedules that provide little time for traditional sit-down meals, consumers are turning to ready-to-eat, quick snacks like potato chips.
Market Segments Insight
Fried and baked potato chips are included in the market segmentation by kind.
The market is divided into two categories: regular and organic.
The potato chip market is divided into two segments based on flavor: flavored and plain/salted. Supermarkets and hypermarkets, convenience stores, and online are all included in the market segmentation based on distribution channels.
Regional Perspectives
With a 32.32% market share in 2023, the North American potato chip market is projected to increase at a compound annual growth rate (CAGR) of 4.62% as a result of the US's expanding working population. In the United States and France, 86% of people eat potato chips or crisps, per another survey. Furthermore, in 2023, the United States' employment rate was 60.3%.
The market for potato chips in Europe, which includes Germany, the UK, France, Spain, and Italy, is expected to grow moderately in the coming years due to the presence of major players in the region that offer a variety of potato chips and the expanding policies they have implemented to meet the rising demand from consumers.
The Asia-Pacific market is expected to develop at a compound annual growth rate (CAGR) of 6.52% from its 2023 valuation of USD 9,807.19 to its 2032 valuation of USD 16,257.46. Because potato chips are widely consumed by a variety of consumer groups, India continues to hold a sizable portion of the potato chip market.
With a sizeable portion of the potato chip market, South America is anticipated to expand at a compound annual growth rate (CAGR) of 6.24% over the course of the forecast period.
The GCC countries, Turkey, Northern Africa, and Southern Africa are among the major nations that make up the Middle East and Africa.
PepsiCo (US), The Campbell Soup Company (US), EuropeSnacks (UK), LaSalle Capital (Chicago), KP Snacks (UK), Calbee Inc. (Japan), Kellanova (US), Priniti Foods Pvt. Ltd. (Haryana), Utz Brands Inc. (US), and Bikaji Foods International Ltd. (Germany) are some of the major players in the potato chip market.