Potato ChipsIndustry Prospective:
The global potato chips market size was evaluated at $35.17 billion in 2023 and is slated to hit $47.22 billion by the end of 2032 with a CAGR of nearly 3.32% between 2024 and 2032.
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Potato Chips Market: Overview
Potato chips are one of the most convenient snack alternatives who are working professionals and have hectic work schedules. It reduces the time for preparing meals and can serve as a quick snack or part of the routine diet. These products are available in various flavors such as onion, classic salted, sour cream, and barbecue.
Key Insights
- As per the analysis shared by our research analyst, the global potato chips market is projected to expand annually at the annual growth rate of around 3.32% over the forecast timespan (2024-2032)
- In terms of revenue, the global potato chips market size was evaluated at nearly $35.17 billion in 2023 and is expected to reach $47.22 billion by 2032.
- The global potato chips market is anticipated to grow rapidly over the forecast timeline owing to the convenience provided by the potato chips has enhanced their consumption globally.
- In terms of type, the flavored segment is slated to register the highest CAGR over the forecast period.
- Based on distribution channel, the store-based segment is predicted to lead the segmental space in the upcoming years.
- Region-wise, the Asia-Pacific potato chips industry is projected to register the fastest CAGR during the projected timespan.
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Potato Chips Market: Growth Factors
An increase in the per capita income to boost the global market demand over 2024-2032
The convenience provided by the potato chips has enhanced their consumption globally, thereby steering the growth of the global potato chips market. A surge in disposable incomes along with changing food habits is likely to scale up the expansion of the global market in the years ahead. In addition to this, the easy availability of raw materials such as salt, potatoes, and cooking oil globally will prop up the growth of the global market. Launching of new products is predicted to make major contributions towards the size of the global market. For instance, in February 2024, lay’s, a key potato chip manufacturing firm & division of PepsiCo, introduced potato chips named Swicy with sweet as well as spicy flavors. Such a move will embellish the growth of the market globally.
Potato Chips Market: Restraints
A rise in the prices of raw components to restrict the growth of the global industry by 2032
An increment in the raw material costs with disruptions in the raw material supply due to the Russia-Ukraine and Israel–Hamas conflicts can strike down the expansion of the potato chips industry globally.
Potato Chips Market: Opportunities
Altering food habits & growing industrialization to open new avenues of growth for the global market
Changing food consumption trends in various countries and the rise in urbanization across the globe are predicted to create a spectrum of growth opportunities for the global potato chips market.
Potato Chips Market: Challenges
A cut-throat competition impacting the demand-supply curve of the product can challenge the growth of the industry globally
A surge in the import as well as export duties and tough competition offered by local manufacturers will pose a huge challenge to the growth of the global potato chips industry.
Potato Chips Market: Segmentation
The global potato chips market is sectored into type, distribution channel, and region.
In type terms, the potato chips market across the globe is segregated into flavored and plain segments. Furthermore, the flavored segment, which acquired nearly 53% of the global market proceeds in 2023, is likely to register the highest CAGR in the upcoming years. The progression of the segment in the analysis period can be due to the introduction of new potato chip flavors by various brands worldwide.
Based on the distribution channel, the global potato chips industry is sectored into store-based and non-store-based segments. Additionally, the store-based segment, which accumulated a key share of the global industry in 2023, is forecast to lead the segment in the coming decade. The segmental expansion during the period from 2024 to 2032 can be due to thriving organized retail activities across the globe.
Potato Chips Market: Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name | Potato Chips Market |
| Market Size in 2023 | USD 35.17 Billion |
| Market Forecast in 2032 | USD 47.22 Billion |
| Growth Rate | CAGR of 3.32% |
| Number of Pages | 204 |
| Key Companies Covered | Utz Brands Inc., Burts Potato Chips Limited, The Kellogg Company, Herr Foods Inc., Calbe Inc., Great Lakes Potato Chip Company, PespsiCo Inc., Intersnack Group GmbH & Co.KG, The Campbell Soup Company, and others. |
| Segments Covered | By Type, By Distribution Channel, and By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2023 |
| Historical Year | 2018 to 2022 |
| Forecast Year | 2024 - 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Potato Chips Market: Regional Insights
Europe is predicted to maintain the leading position in the global potato chips market in the upcoming years
Europe, which accounted for nearly 68% of the global potato chips market earnings in 2023, is likely to be a dominant region in the coming seven years. In addition to this, the regional market expansion over the forecast timeframe can be owing to a surge in the consumption of convenient snacks in Europe. An increase in the product manufacturers in the European countries will contribute sizably towards the regional market revenue in the coming years.
Asia-Pacific potato chips industry is set to register the fastest cumulative growth rate in the forecast timeframe. The expansion of the industry in the APAC zone can be due to a rise in the intake of salted snacks in countries such as India, Indonesia, Thailand, China, Bangladesh, Pakistan, Mauritius, and Sri Lanka. Apart from this, humungous expansion of the distribution channel such as hypermarkets and supermarkets will embellish the growth of the industry in the region. Technological breakthroughs and a rise in the fund allocation for producing potato chips in developing economies will steer the growth of the industry in the APAC zone. Additionally, the thriving fast-food sector will prop up the expansion of the industry in Asia-Pacific in the coming years.
Key Developments
- In December 2023, Goldfish, a Thailand-based firm offering tech-driven supply chain services, entered the potato chips business through the introduction of new Goldfish crisps. Moreover, these products are aimed at targeting adult customers of the Goldfish in the U.S.
- In February 2023, Kettle Brand, a crisp-producing firm owned by Campbell Soup Company, introduced a new product line of crisps referred to as Air Fried Chips in the U.S. Crips market.
- In January 2023, Paulig introduced new kinds of potato chips.
- In January 2021, Lay’s introduced two limited-time potato chip flavors, namely, Cheesy Love and Herby Crush.
Potato Chips Market: Competitive Space
The global potato chips market profiles key players such as:
- Utz Brands Inc.
- Burts Potato Chips Limited
- The Kellogg Company
- Herr Foods Inc.
- Calbe Inc.
- Great Lakes Potato Chip Company
- PespsiCo Inc.
- Intersnack Group GmbH & Co.KG
- The Campbell Soup Company
The global potato chips market is segmented as follows:
By Type
- Flavored
- Plain
By Distribution Channel
- Store-Based
- Non-Store-Based
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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