Potato Chips and Crisps Market Size Estimated to Reach $45.7 Billion by 2025

Potato Chips and Crisps Market size is estimated to reach $45.7 billion by 2025, growing at a CAGR of 4.3% during the forecast period 2020-2025. Potato chips are thin slices of potato that have been either deep fried or baked until crunchy and are commonly served as snack, side dish, or appetizer. Increase in the disposable income of customers, sedentary lifestyle, availability of choice of flavor, growing demand for packaged foods are factors that are set to drive the growth of the global market for the forecast period 2020-2025. Key Takeaways

• Geographically, North America’s Potato Chips and Crisps market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
• The increase in the technology and economic growth of the developing countries is likely to aid in the market growth of Potato Chips and Crips Market.
• Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Potato Chips and Crisps Market report.
• Manufacturing Companies offering various flavors of potato chips and crisps are creating higher opportunities for the growth of market for the forecast period 2020-2025.

Based on the Taste, the Plain segment held the largest share in 2019 owing to the factors such as customers preferring traditional chips, combining the conventional chips with gourmets, preferring less salt owing to rise in chronic diseases. Flavored segment is estimated to be the fastest growing segment with a CAGR of 3.8% during the forecast period 2020-2025.The growth in this segment is owing to the factors such as choice of availability of flavor, growing demand in the young population and growing inclination towards taste. By Distribution Channel- Segment Analysis By Geography - Segment Analysis Based on the Geography, the North America held the largest share in 2019 with a market share of 43% in 2019 of the overall market share. The growth in this segment is owing to the factors such as sedentary lifestyle, advancements in technology, growth in the investment in the developed countries and inclination towards taste. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as growth in the income of developing countries, more young population and inclination towards western lifestyle. Drivers – Potato Chips and Crisps Market

• Choice of availability of flavor and sedentary lifestyle

Potato Chips and Crisps manufactures are introducing various flavors like cheese and onion, cream cheese, paprika to attract the customers. New products are introduced into the market according to the need and taste of the customers and are made easily available to the customers through technology which is estimated to enhance the growth of Potato Chips and Crisps Market. The sedentary lifestyle of the customers is also estimated to enhance the growth of Potato Chips and Crisps Market.

• Rapid Growth in the income of individuals in the developing countries

The increase in the disposable income made the customers incline towards convenience and sedentary lifestyle. Individuals are getting attracted to western lifestyle which is estimated to enhance the growth of Potato Chips and Crisps Market. Challenges – Potato Chips and Crisps Market

• Growing awareness regarding health owing to rise in the number of chronic diseases

Awareness regarding health is increasing among customers owing to rise in the number of chronic diseases especially diabetes and blood pressure. Customers are changing their eating patterns and converting into healthy foods and grains which is estimated to reduce the growth of Potato Chips and Crisps Market. Potato Chips and Crisps Industry outlook:  Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Potato Chips and Crisps Market. Key companies of this market are PepsiCo Inc, Herr Foods Inc, Utz Quality Foods Inc, Intersnack Group, Synders-Lance, Calbee Foods, The Campbell Soup Company, The Kellogg Company, Great Lakes Potato Chips, Burts Potato Chips Ltd among others. Acquisitions/Product Launches:

• In 2017, Kellogg Company has launched five new potato chips and crisps flavors such as Fiery Chili Lime, Mighty Margherita Pizza, Salsa Fiesta, Spicy Queso and Super Cheesy Italian.
• In 2017, Campbell has acquired Synders-Lance to expand the faster growing snacking industry especially chips and crisps category.
• In 2018, PepsiCo entered into an agreement with Bare Foods for expanding the portfolio into baked fruits, potato chips and other vegetable snacks.