Global Potato Chips Market Hits $33.3 Billion in 2022, Sustaining Steady Growth at 3% CAGR to Reach $40.0 Billion by 2028

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Oct 18, 2023, 19:30 ET

DUBLIN, Oct. 18, 2023 /PRNewswire/ -- The "Potato Chips Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global potato chips market has reached a substantial size of USD 33.3 billion in 2022, and it is projected to exhibit a steady compound annual growth rate (CAGR) of 3% during the period 2023-2028, ultimately reaching USD 40.0 billion by 2028.

Potato Chips: A Worldwide Snack Sensation

Potato chips, those thin, crispy slices of potato seasoned to perfection, have secured their place as one of the most beloved snacks across the globe. Their signature yellowish-brown color results from the natural browning of sugars in the potatoes during frying. Furthermore, potato chips are processed and stored in a way that preserves their taste, texture, and color, ensuring a long shelf life. Packaged in airtight plastic bags, they remain fresh for extended periods, contributing to their popularity.

Driving Factors for the Global Potato Chips Industry:

Convenience: Potato chips offer a convenient snacking option for individuals with busy lifestyles, reducing meal preparation time and serving as quick snacks or meal components.
Abundant Raw Materials: The key ingredients for potato chips—potatoes, oil, and salt—are readily available worldwide, ensuring a consistent supply and efficient production planning.
Emerging Markets: Developing countries are poised to drive the global potato chips market, with Westernization of food consumption patterns, economic growth, a burgeoning middle-class population, and urbanization fueling consumption.
Organized Retail: The growth of the organized retail sector is positively impacting the global potato chips market. More companies are investing in emerging regions, resulting in increased consumption.
Health Consciousness: Potato chips manufacturers are responding to growing health consciousness by introducing healthier options with reduced fat, calories, and cholesterol. Products that are gluten-free, non-GMO verified, and made with natural ingredients are gaining popularity.

Key Market Segmentation:

Product Types: Potato chips are categorized into two main types—plain and flavored. Currently, plain potato chips are the most widely preferred globally.
Distribution Channels: Potato chips reach consumers through various channels, including supermarkets/hypermarkets, convenience stores, specialty food stores, online stores, and others. Supermarkets/hypermarkets are the largest segment due to their wide product variety.

Regional Insights:

United States: The United States dominates the global potato chips market, holding the majority of market share due to snacking habits and a demand for convenient foods.

Competitive Landscape:

The global potato chips market is characterized by a high level of fragmentation, featuring numerous small and large manufacturers competing based on prices and quality. Key players include Pepsico, Kraft Foods, Kellogs, Diamond, General Mills, and Nestle.

Key Questions Answered:

What was the size of the global potato chips market in 2022?
What is the expected growth rate of the global potato chips market during 2023-2028?
How has COVID-19 impacted the global potato chips market?
What are the key factors driving the global potato chips market?
What is the market breakup by product type?
What is the market breakup by distribution channel?
Which regions are key in the global potato chips market?
Who are the key players/companies in the global potato chips market?

This comprehensive report provides essential insights into the global potato chips industry, covering macro and micro aspects, recent trends, market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, and more. It also offers a detailed analysis for establishing a potato chips manufacturing plant, including processing requirements, project cost, funding, economics, ROI, and profit margins.

For more information about this report visit https://www.researchandmarkets.com/r/lqggio

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SOURCE Research and Markets