World Potato Chips Market Overview
World Potato Chips Market size is estimated at $31.2 billion in 2020, projected to grow at a CAGR of 4.4% during the forecast period 2021-2026. A potato chip is a slender piece of potato which is baked or deeply fried. The increasing demand for easily accessible and ready to eat snacks is driving the World Potato Chips industry. Some of the major types of potato chips include barbecue chips, French-fried potatoes and kettle chips. Barbecue Chips are potato chips smoothly coated with the seasoning blend of paprika, salt, garlic powder, sugar, onion powder, chilli powder and smoked paprika. Barbecue chips are the combination of salty-sugary, spicy and powerful outdoor aroma that leads to consumers picking up more and more of these chips. Kettle chips are prepared by way of a vintage technique termed batch cooking. Every day potato chips are prepared by way of a technique termed continuous fry. A conveyor belt is utilized in this technique, on which potatoes are deep-fried as they proceed over hot oil, maintained at a fixed temperature. French-fried potatoes are sliced with a batonnet or allumette (French sliced) and are stir-fried. Potato chips can simply be kept in the freezer in their packaged state and they can be preserved this way for three months. The frantic job agenda and stationary lifestyles are determinants fuelling the progress of the World Potato Chips Industry. The ingredients needed in the preparation of potato chips are potatoes, oil and salt which are available effortlessly at a global level fueling the product demand. The trustworthy supply of potatoes worldwide along with the other basic constituents guarantees a consistent supply and effective preparation for manufacturing potato chips. This is propelling the World Potato Chips market during the forecast period 2021-2026.
The report: “World Potato Chips Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the World Potato Chips Market.
Product Type: Fried, Baked.
By Flavor Type: Plain, Salted Chips, Flavored Chips.
By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Online Stores, Others.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia & New Zealand, and Rest of Asia Pacific) and Rest Of The World (South America, Middle East and Africa).
- World Potato Chips Market growth is being driven by the increasing disposable income of purchasers, swelling demand for instant snacks, increasing count of flavours such as barbecue chips and French-fried potatoes, and overloaded lifestyles of customers.
- Geographically, North America World Potato Chips Market dominated the world potato chips market in 2020 owing to the snacking practices of purchasers and rising demand for readily available diet options in the region. The U.S. dominates the North America World Potato Chips Market with the maximum share. The effortless accessibility to multiple distinctive labels and the extensive variety of flavours of potato chips are fuelling the World Potato Chips market during the forecast period 2021-2026.
- The increased health consciousness of purchasers has resulted in altered preferences towards fortified potato chips. Furthermore, existence of antioxidants in potato chips extends the shelf-life of frying oil. These determinants are impelling the World Potato Chips market during the forecast period 2021-2026.
- Increasing research efforts to develop and introduce novel flavours prepared from organic constituents are propelling the World Potato Chips market during the forecast period 2021-2026.
World Potato Chips Market: Market Share (%) by Region, 2020
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World Potato Chips Market Segment Analysis – By Flavor Type:
Based on Type, Plain World Potato Chips Market accounted for the largest revenue market share in 2020 owing to the people’s increasing inclination towards healthier diet options amidst the crisis created by the COVID-19 Pandemic. The Flavored Chips segment is estimated to grow with the fastest CAGR of 4.7% during the forecast period 2021-2026 owing to the growing preference of purchasers towards novel uncommon international flavors such as barbecue chips and French-fried potatoes which give them a feel of the global cuisine amidst the strict travel stipulations created by the COVID-19 pandemic.
World Potato Chips Market Segment Analysis – By Distribution Channel :
Based on Distribution Channel, Hypermarkets and Supermarkets dominates the World Potato Chips Market in 2020 owing to the easy accessibility of an extensive range of brands and commodities and the massive discounts offered on mass purchases. Self-reliant merchants are a significant constituent of the distribution channel for any potato chips producer. Scarcity of retail infrastructure in multiple countries and the increasing count of grocery stores is furling the progress of the World Potato Chips market by way of this distribution channel. The Online sector is estimated to grow at the fastest CAGR of 4.9% during the forecast period 2021-2026 owing to ease of availability and examination of diverse potato chip flavors including barbecue chips and French-fried potatoes at fingertips is fuelling online payment options and rapid home delivery options amidst the global lockdowns and stay-at-home restrictions enforced by the pandemic crisis. The burgeoning count of smart phones and online customers is primarily driving the progress of this segment. Furthermore, the busy lifestyle is pushing purchasers increasingly towards the online sector to save time. Partnerships of companies with online channels like Big Basket are further propelling the development of the Online sector in the World Potato Chips Market during the forecast period 2021-2026.
World Potato Chips Market Segment Analysis – By Geography:
Based on Geography, North America World Potato Chips Market accounted for the dominant revenue share of 36% in 2020. The immense recognition amidst youngsters and the introduction of innovative flavors of potato chips is fuelling the progress of the World Potato Chips market. Furthermore, the reasonable price and the ease of availability of potato chips are driving the growth of the World Potato Chips Market. The Asia Pacific Potato Chips Market is estimated to grow at the fastest CAGR rate during the forecast period 2021-2026 owing to the accelerated advancement of modern distribution channels like supermarkets and hypermarkets. The growing acknowledgement of snacks in Asia Pacific has fuelled the local players to accommodate strategic improvements to achieve a winning edge in the World Potato Chips Market. The kick off of interesting product flavors like barbecue chips and French-fried potatoes and the innovation in packaging techniques are impelling the progress of the World Potato Chips market in the region during the forecast period 2021-2026.
World Potato Chips Market Drivers
Increased Innovative International Snack Flavors:
The stringent stay-at-home restrictions during the COVID-19 pandemic have forced the purchasers to be confined indoors and sense the globe by way of international snack flavors like kimchi-soaked chips. As per PepsiCo’s Frito-Lay U.S. Snack Index, conducted in May 2021, 32% of Americans are more inclined towards novel, tangy and strong flavors in comparison with just 25% in 2020. 45% of Millennials and Gen Z reported an increasing inclination towards novel, tangy and strong flavors in 2021. These flavors are international, imported from diverse cultures and regions of the world. The prominent flavors are Asian flavors from Japan, South Korea, the Philippines and Thailand. Kimchi from South Korea and Adobo from Philippines are some favorite flavors. Sesame and curry are perpetual favorites of flavors for snack options like chips. Fascinating flavors like guajillo chili, baobab, baharat and maca are joining the array of assorted snack flavors. Snack geniuses are switching to strong and tangy flavors from Central America, Asia and North Africa. Potato chips match well with strong global flavors including barbecue chips and French-fried potatoes. Customers are longing for rare and fascinating flavors in the wake o the pandemic as travel restrictions have been imposed. The emergence of creative flavors amidst the pandemic crisis is driving the growth of the World Potato Chips market during the forecast period 2021-2026.
World Potato Chips Market Challenges
Increasing Prevalence Of Ailments Owing to Consumption of Fried Snacks:
The increased consumption of potato chips can result in hypertension, cardiovascular ailments, cancer and obesity. Furthermore, the chances of stroke can also rise. The desk-bound lifestyle coupled with a great intake of potato chips can bring down the spirit of a person and lead to depression. Partaking potato chips has also been associated with the hazard of infertility. The growing incidence of these ailments is challenging the World Potato Chips market.
World Potato Chips Market Landscape:
The World Potato Chips Market's main strategies include innovative product flavours, mergers and acquisitions, joint ventures, R&D activities, partnerships, collaborations, enhanced distribution channels and regional expansion. World Potato Chips top 10 companies are Pepsico, Kraft Foods, Kelloggs, Diamond, General Mills, Nestle, Kettle Foods Inc., Great Lakes Potato Chips, Herr Foods Inc., and Calbee, Inc.
- In July 2021, Frito-Lay shifted its attention to its intrinsic tiny meal portfolio for its latest and novel Lay’s potato chips flavours. The branch of PepsiCo, Inc. is carrying the flavours of Funyuns and Doritos to Lay’s chips. The novel Lay’s Flavour Exchange arrangement is limited-edition. The products in this grouping are Lay’s Doritos Cool Ranch and Lay’s Wavy Funyuns Onion.
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