Potato Chips Market By Type (Regular Potato Chips, Kettle-Cooked Chips, Baked Chips, Low-Fat Chips, Flavored Chips), Flavor (Salted, Barbecue, Sour Cream & Onion, Cheddar Cheese, Spicy), Packaging Type (Bags, Pouches, Cans, Boxes), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Specialty Stores), & Region for 2024-2031
Report ID: 137291|No. of Pages: 202
Potato Chips Market By Type (Regular Potato Chips, Kettle-Cooked Chips, Baked Chips, Low-Fat Chips, Flavored Chips), Flavor (Salted, Barbecue, Sour Cream & Onion, Cheddar Cheese, Spicy), Packaging Type (Bags, Pouches, Cans, Boxes), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Specialty Stores), & Region for 2024-2031
Potato Chips Market Valuation – 2024-2031
Increasing health consciousness among consumers is being observed as a significant driver affecting the market size of the potato chips market. According to the analyst from Verified Market Research, the Potato Chips Market is estimated to reach a valuation of USD 47.19 Billion over the forecast subjugating around USD 34.7 Billion valued in 2024.
The rapid expansion of the potato chips market is primarily driven by the rising demand for innovative flavors and healthier product options. It enables the market to grow at a CAGR of 4.32% from 2024 to 2031.
Potato Chips Market: Definition/ Overview
Potato chips are defined as thin slices of potatoes that are fried or baked until they become crispy. Initially introduced as a snack food in the mid-19th century, they have since gained immense popularity worldwide due to their appealing taste and convenience. Various flavors and textures are offered, catering to diverse consumer preferences and dietary requirements, with options ranging from traditional salted to gourmet varieties.
Increasing consumer interest in snacking is being recognized as a significant factor contributing to the growth of the potato chips market. Additionally, rising disposable incomes and changing lifestyles are driving demand for on-the-go snack options. As innovative packaging and marketing strategies are employed, the overall market for potato chips is expected to experience continued expansion in the coming years.
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What Impact Is the Rising Demand for Healthier Snack Options Having on the Potato Chips Market?
The rising demand for healthier snack options is being acknowledged as a crucial driver in the potato chips market. As consumers increasingly seek snacks that align with health-conscious lifestyles, manufacturers are responding by developing a range of baked, low-fat, and organic potato chips. A report from McKinsey & Company highlights that about 50% of consumers across various demographics made major changes to their eating habits during the pandemic, with many prioritizing healthier food choices.
Innovative ingredients, such as alternative oils and natural flavorings, are being utilized to meet these consumer preferences. As a result, product lines are being expanded to include options that cater to dietary restrictions, such as gluten-free and plant-based varieties. Consequently, the overall market share for healthier potato chips is expected to grow, reflecting changing consumer behavior toward more nutritious snacking alternatives.
What Challenges Are Posed by the Increasing Competition in the Potato Chips Market?
The increasing competition in the potato chips market is being recognized as a significant restraint affecting industry growth. With numerous brands vying for market share, price wars and promotional strategies are being employed to attract consumers, which may lead to reduced profit margins.
Additionally, the emergence of private-label brands is being observed, creating pressure on established companies to differentiate their products through unique flavors and branding strategies. Consumer loyalty is being tested as more options become available, making it essential for brands to invest in innovation and marketing. As a result, a challenging environment for maintaining competitive advantage is being created, necessitating a strategic approach to sustain market presence.
Category-Wise Acumens
What Factors are Contributing to the Dominance of Flavoured Potato Chips in the Market?
According to VMR analyst, flavored potato chips are being recognized as a dominant segment in the potato chips market due to their ability to cater to diverse consumer tastes and preferences. A wide range of flavors, including popular options such as barbecue, sour cream and onion, and cheddar cheese, is being offered by manufacturers to attract a broad audience.
As consumers increasingly seek unique and bold flavors, brands are responding with innovative flavor combinations and limited-edition releases. The growing trend of snacking is being supported by the rise of social media, where consumers are encouraged to share their experiences with new and exciting products. Consequently, the market share of flavored potato chips is being expanded, driven by continuous innovation and effective marketing strategies.
How is the Growth of Online Retail Channels Impacting the Distribution of Potato Chips?
According to VMR analyst, the growth of online retail channels is being observed as a significant factor impacting the distribution of potato chips. As consumers increasingly prefer the convenience of online shopping, retailers are investing in e-commerce platforms to enhance accessibility and reach.
The variety of packaging options, including bags, pouches, and boxes, is being highlighted to cater to different consumer preferences in the online space. Additionally, promotional strategies, such as discounts and bundle offer, are being employed to attract online shoppers. As a result, a shift in consumer purchasing behavior toward online platforms is being facilitated, leading to an expansion of the online distribution channel within the potato chips market.
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Country/Region-wise Acumens
What Factors are Contributing to the Rapid Growth of the Potato Chips Market in North America?
According to VMR analyst, the rapid growth of the potato chips market in North America is being driven by increasing consumer demand for convenient snack options. As lifestyles become busier, the preference for ready-to-eat snacks is being fueled by the rise in on-the-go consumption patterns. Innovations in flavors and healthier product lines, such as baked and low-fat options, are being introduced to meet the diverse preferences of health-conscious consumers.
The rise of snacking occasions has significantly boosted the potato chips market. According to the Snack Food Association (2023), Americans consume an average of 6 pounds of potato chips per person annually. Additionally, aggressive marketing strategies and promotions are being implemented by leading brands to enhance visibility and attract a wider audience. Consequently, the North American market is being positioned as a significant contributor to the overall growth of the potato chips sector.
How is the Increasing Interest in Health-conscious Snacking Impacting the Potato Chips Market in Europe?
The increasing interest in health-conscious snacking is being recognized as a key factor impacting the potato chips market in Europe. As consumers become more aware of dietary choices, a shift towards healthier alternatives, such as baked chips and organic varieties, is being observed. According to Eurostat (2023), organic food sales in Europe reached €53.1 billion in 2022. The organic potato chips segment specifically saw a 15% year-over-year growth in 2023.
Manufacturers are responding by reformulating products to include better ingredients and lower fat content, thus aligning with consumer preferences for nutritious snacks. Additionally, the trend of snacking is being supported by the growth of specialty stores and online platforms that offer a wider variety of healthy potato chip options. As a result, the European potato chips market is being positioned for significant growth, driven by the evolving consumer landscape and increasing focus on health and wellness.
Competitive Landscape
The Potato Chips Market’s competitive landscape is characterized by a varied range of companies, including technology developers, plant operators, and service providers, all striving for market share in an increasingly dynamic and growing industry.
Some of the prominent players operating in the potato chips market include:
- Calbee, Inc.
- Herr Foods, Inc.
- ITC Limited
- Lay’s
- Mondelez International, Inc.
- PepsiCo, Inc.
- Snyder’s-Lance, Inc.
- The Kellogg Company
- Utz Brands, Inc.
- Walkers
Potato Chips Market Latest Developments
- In May 2023, Lay’s India launched Shapez Heartiez, a new line of heart-shaped potato-based pellet chips available in traditional Masala and a unique Caramel flavor. Priced at ?5, ?10, and ?20, these chips aim to provide a fun snacking experience and cater to the increasing consumer demand for enjoyable snacks through retail and e-commerce channels.
- In August 2024, Frito-Lay North America introduced three new global-inspired flavors of Lay’s potato chips: Wavy Tzatziki, Masala, and Honey Butter. The Wavy Tzatziki flavor features a blend of yogurt, lemon, dill, and garlic, while the Masala flavor incorporates traditional Indian spices, and Honey Butter offers a sweet profile reminiscent of Korean cuisine. These limited-time offerings reflect the brand’s commitment to flavor innovation and align with consumer preferences for international tastes.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Growth Rate | CAGR of ~4.32% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2023 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Players | Calbee Inc., Herr Foods, Inc., ITC Limited, Lay’s, Mondelez International, Inc., PepsiCo, Inc., Snyder’s-Lance, Inc., The Kellogg Company, Utz Brands, Inc., Walkers |
| Customization | Report customization along with purchase available upon request |
Potato Chips Market, By Category
Type:
- Regular Potato Chips
- Kettle-Cooked Chips
- Baked Chips
- Low-Fat Chips
- Flavored Chips
Flavor:
- Salted
- Barbecue
- Sour Cream & Onion
- Cheddar Cheese
- Spicy
Packaging Type:
- Bags
- Pouches
- Cans
- Boxes
Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
- Specialty Stores
Region:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
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Frequently Asked Questions
1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology
2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights
3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis
4. Potato Chips Market, By Type
• Regular Potato Chips
• Flavored Potato Chips
• Kettle Cooked Potato Chips
• Baked Potato Chips
5. Potato Chips Market, By Packaging Type
• Single Serve Packets
• Multipack/Bulk Packets
• Resealable Packs
6. Potato Chips Market, By Flavor Profile
• Classic Flavors
• Spicy Flavors
• Savory Flavors
• Sweet and Savory Flavors
7. Regional Analysis
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE
8. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market
9. Competitive Landscape
• Key Players
• Market Share Analysis
10. Company Profiles
• PepsiCo, Inc. (USA) (Frito-Lay)
• The Kellogg Company (USA)
• Mondelez International, Inc. (USA)
• Snyder’s-Lance, Inc. (USA)
• Calbee Inc. (Japan)
• Utz Brands, Inc. (USA)
• Herr Foods, Inc. (USA)
• ITC Limited (India) (Bingo!)
• Lay’s (PepsiCo)
• Walkers (PepsiCo)
11. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
12. Appendix
• List of Abbreviations
• Sources and References
Report Research Methodology
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Exploratory data mining
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For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
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The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
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- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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