Fried Potato Chips Market Value And Growth Analysis-2023

By Author: bhargav
Total Articles: 47
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Market overview:

The Fried Potato Chips Market was valued at $30.7 billion in 2023 and is estimated to reach $39.52 billion by 2028, with a CAGR of 4.3% from 2023 to 2028.
To give them a crispy and crunchy texture, peeled potatoes are thinly sliced and deep-fried in an oil bath, air-fried, or baked. The potatoes are prepared until they are nicely golden brown in color and bite easily. They are frequently served as a side dish, snack, or appetizer at different gatherings and are also known as crisps in some North American regions of the world. Additionally, a wide variety of flavors are available for potato chips. Although the chips have been around since the 19th century, a chef in New York City created them in an effort to appease some disgruntled clients. Customers criticized the french fries as being too thin and stated that they preferred thin, crispy fries. As a result, the earliest chips ever produced had a salt flavoring, and they have since developed to the point where they now contain a variety of artificial flavorings. The most popular snack in convenience stores today, potato chips come in bags full of ...
... chips, with flavors, oils, starch, and preservatives added to extend its shelf life.
Market Drivers and Restraints:
The high production and consumption rates across the globe fuel the expansion of the potato chip market. Since the snack was initially mass-produced in the 20th century, production has expanded because to the huge demand for it globally, resulting in increasing profits for the firms. For instance, the most recent surveys show that chip output in Canada has increased by 4.82%, while the United States has seen annual growth of 4.6% since 2018. Additionally, the market has made more money as a result of the snack's growing popularity in America and around the world. As a result, potato chips are consumed in some capacity throughout all continents and nations, fueling market expansion. Growth is also fueled by the population's busy lifestyles brought on by rising inflation and the demand for full-time employment. People are buying preservative-filled meals at convenience stores instead of making nutritious snacks at home as they become busier, which helps the market develop.Market expansion is fueled by the chips' variety and addicting flavors. The consumer now has options with the introduction of fried chips in numerous distinctive flavors. Pringles, cinnamon, sugar crisps, lays oregano chips, ketchup chips, kettle maple bacon chips, etc. are a some of the strangest flavors. Additionally, chips have undergone cultural modifications to suit local palates in many parts of the world.
For instance, Lays sells varieties like Indian Masala in India; this flavor is highly well-liked because it is based on Indian Masala. Similar to chips, firms in Asian nations market chips with flavors including squid and octopus, as well as sweet potatoes and seaweed. Due to the numerous alterations made to chips, people have grown very dependent on them. They also sell fried snacks in the flavors of their traditional dishes, such as Thai sweet chili for Thailand. Additionally, the market share of fried potato chips includes the same items that, according to science, make people feel happier right away. Dopamine is an enzyme that is released in the brain when carbohydrates, lipids, and salt are consumed. As a result, the market is growing because of addiction to these feelings of resentment and joy, which causes greater desires.
To know more, read:
https://www.marketdataforecast.com/market-reports/fried-potato-chips-market
The report is segmented as follows:
The Fried Potato Chips Market is segmented by Type; the Market is segmented by Distribution Channel:
By Type (Plain and Salted and Flavoured)
By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail Stores, and Other Distribution Channels)
Regional Segmentation:
Due to the region's high rates of fried potato chip consumption, the North American region is anticipated to dominate the market over the projection period. Additionally, the market is supported by the existence of important market competitors and a variety of flavor alternatives in the area. Additionally, the region's evolving lifestyles encourage the demand for rapid snacks, fueling market expansion. Additionally, the expansion of the region's market is aided by the increased demand for small, portable snacks in the area and the release of novel goods such fried chips with lower fat content. As a result, nations like the United States and Canada have a sizable market share.
Due to the increasing population- and culture-based adaptations of potato chips, the market in Europe and the Asia-Pacific region is also anticipated to expand. The expansion of the regional market is also fueled by the rising demand for packaged goods in nations like the U.K., France, Germany, India, China, and Japan, among others. The expansion of the market is further supported by rising digitalization and disposable incomes in the areas.
Impact of COVID-19 pandemic on the market:
The pandemic had a major effect on markets around the world and led to several failures. Both positive and negative effects of COVID-19 have been seen in the market for fried potato chips. Consumers started storing up on snacks like potato chips that had a longer shelf life and would be okay because of the lockdown and restrictions on manufacturing and sales. Additionally, the loss of jobs and income resulted in budget cuts, and populations with limited resources started to favor these shelf foods with long storage lives. Because they are simple to consume and store, potato chips are in high demand during a pandemic. The potato chip sector, however, saw significant setbacks as customers began to concern about eating healthier and a trend for making healthy food choices emerged. Furthermore, according to some research studies, ingesting foods high in sodium and fat may make it simpler to get the virus, further frightening people into becoming more wary of the food. As a result, it was suggested to stay away from packaged meals and eat well to strengthen immunity, which caused the market to drop. As a result, the market has seen a variety of effects from the pandemic.
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Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.