According to the latest report by IMARC Group, titled "Potato Chips Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global potato chips market size reached US$ 30 Billion in 2019. Potato chips are thinly sliced potato pieces that are baked or fried until they become crispy in texture. They are one of the most commonly consumed snacks across the globe that can also be served as a side dish and appetizer. These chips are made from numerous ingredients, such as potatoes, salt, sugar, oil, spices, cheese, colorants, seasonings and flavoring agents. The sliced pieces are seasoned in a uniform manner and then fried or baked to yield a yellowish-brown color. The low moisture level present in the end product makes it inert to microbiological spoilage, vapor migration, and chemical and enzymatic activities. It is further packed in air-tight plastic packages, thus improving the taste, texture and color of the chips while increasing their shelf life.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Potato Chips Market Trends:
The global market is primarily driven by the growing consumption of affordable snacks among the masses, especially by the younger population. Hectic lifestyle and busy schedules of the individuals have facilitated the uptake of convenience food products, such as potato chips, as a quick snack or a part of the meal and as a side dish. The trend of consuming potato chips has now expanded in developing countries due to the westernization of food consumption patterns, which is creating a positive outlook for the market. This is supported by the rapid urbanization, increasing middle-class population and inflating per capita income levels of the masses. The market is further driven by the growing health-consciousness among consumers. This has led manufacturers to introduce healthier and value-added variants in the market. These products are fortified with natural, organic and gluten-free ingredients, and have reduced fat and calorie content. Product variants with experimental flavors are also being launched by the manufacturers to diversify their product portfolio, which are gaining widespread prominence in the market. Some of the other factors contributing to the market growth include surplus availability of raw ingredients and the expansion of the organized retail sector. On account of the aforementioned factors, the market is projected to exhibit stable growth during 2020-2025.
- Based on the product type, the market has been bifurcated into plain and flavored potato chips.
- On the basis of the distribution channel, the market has been segmented into supermarkets/hypermarkets, convenience stores, specialty food stores, online stores and others. Among these, supermarkets/hypermarkets account for the majority of the total market share.
- On the geographical front, the United States holds the leading position in the market. Some of the other major markets include the United Kingdom, Russia, China, Argentina, Brazil and India.
- The competitive landscape of the market has been studied in the report, along with the detailed profiles of the key players operating in the market.
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