Wiseguyreports.Com Publish New Market Research Report On -“Potato Chips Market 2019 Global Analysis, Size, Share, Trends, Opportunities and Growth, Forecast 2024”
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Potato Chips Market
Potato chips are delicious fried foods characterized by a salty taste, crispy texture, and fatty mouthfeel. Hence, these chips are widely popular and consumed due to their tastefulness by all age groups. Today, potato chips are made through modern food processing machines using mature flavoring technology. As, a result, the global potato chips market is growing at a rapid pace.
Leveraging to the rapidly changing lifestyles, potato chips have reached beyond being niche items. They have long been entered the mainstream consciousness of consumers who readily have included them as a part of their snacking items. The demand for convenience food and snacking items is a key factor heavily influencing the growth of the potato chips market.
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Market Segment by Top Manufacturers, this report covers
PepsiCo
Shearer’s
Pringles
Kettle Brand
Better Made
Cape Cod
Utz Quality Foods
Golden Flake
Mikesell’s
Ballreich’s
According to a market analysis uploaded on the WGR website recently, the global potato chips market is booming and expected to witness significant growth by 2024. It is further anticipated the market would to grow at moderate CAGR throughout the forecast period (2019-2024). The changing eating habits of consumers increase the market demand, majorly.
Besides, an increase in the per capita disposable income and consumers’ preference towards filling up their meantime munching with potato chips are escalating the growth of the market. Variety of types and tastes available in the market such as low-calorie backed, natural potato chips and barbecue, sour cream & onion, and salt & vinegar are driving the growth of the market.
Although the potato chips industry is not highly concentrated; there are so many producers in the market. Many giant players like PepsiCo possess a larger market share, setting up several plants, globally. They usually set up a plant close to aimed consumption region; however, the plant location is relatively balanced with each region.
Most of the leading companies choose setting up factories directly into the aimed market and to take their own sales and distribution channels to expand the market. They also pay special attention to the packaging of the product. Their focus is to develop a convenient, easy to carry packaging for the on-the-go purposes that attract consumer attention and capitalize on market share.
These players strive to develop cost-competitive products meant to reduce the downtime with longer shelf life. Mergers & acquisitions, newness/ variety, and brand reinforcement remain the key trends for these players.
For instance; on June 24, 2019, an American food processing company, Lamb Weston Holdings, Inc. announced the acquisition of an Australian potato processor - Ready Meals. The deal follows on Lamb Weston’s purchase of Marvel Packers, another Australian frozen potato processor, earlier this year. The unit sells potato chips under the Farmers Best and Marvel Chips brands.
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The US dominates the global potato chips market, witnessing the huge consumption of these products. Also, the upsurge in the popularity of potato chips as snacking items is expected to drive the market growth in the country. Additionally, factors such as high consumption of potato chips led by the changing food consumption pattern allow the nation to hold the significant market share, globally. Moreover, large production and consumer bases in the US are projected to generate high revenue pockets.
Besides, the presence of several players impacts the market growth in the country, positively. Earlier the US potato chips market was dominated by other regions, but now the scenario is changed due to the increasing number of players opening their manufacturing plants in the country.
The market is bifurcated into three key segments such as by type, by applications, and by regions. The segment – type is further sub-segmented into plain, barbecue, sour cream & onion, and salt & vinegar, among others. The segment – Applications is further sub-segmented into supermarket/hypermarket and independent retailer, among others.
By regions, the regional analysis covers North America (United States, Canada, and Mexico), South America (Argentina, Brazil, Colombia etc.), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (Japan, China, Korea, India, and Southeast Asia), and Middle East and Africa (UAE, Saudi Arabia, Egypt, Nigeria, and South Africa).
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