Market Overview:
In addition, the global Potato Chips Market is expected to rise at a CAGR of 3.98%, with a value of USD 48.1 billion over the estimated the forecasting year of 2022-2030.
Fried potato chips are one of the most popular snacks in the world owing to their delicious taste and widespread availability. Potato chips are thin slices of potato cooked in oil with the right amount of moisture and seasoned with salt and other tastes as desired by the consumer. There are many different varieties of potatoes farmed across the world. Still, the best potato for chips is one with high sugar content and some moisture, which gives the chips a yellowish-brown colour and flavour after frying. Furthermore, the fried potato chips are packaged in airtight plastic bags to prevent the chips from being exposed to oxygen and reacting, spoiling the potato chip and changing its colour and flavour.
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One of the factors driving the worldwide potato chips market is the availability of a diverse range of flavours, brands, and textures to suit the tastes and preferences of a wide spectrum of customers, all of which are easily accessible. Furthermore, factors driving the growth of the global fried potato chips market include urbanization, change in people’s lifestyles due to increased disposable income, changes in food habits of young kids and children, demand for a convenient snack, and the global presence of potato chip manufacturers in developing and emerging economies. However, the inclusion of high fats and carbs in fried potato chips has sparked a spike in health concerns among consumers, which is one of the market’s primary restrictions.
New potato varieties that absorb less moisture and deliver superior taste when salt and seasonings are applied are driving innovation in the potato chip sector. Market demand has been strong since packaged foods are more sanitary, and consumers like to munch on snacks while sitting at home. Because of the huge demand for hygienically packaged food goods, the market will continue to develop after the shutdown.
Market Segmentation:
The global market has been segmented into four sections: type, category, distribution channel and regional basis. The type section has divided the market into flavoured and lain. The category section has divided the market into two parts organic and conventional. As per the distribution channel, the potato chips market has been divided into store-based and non-store based. According to the regional basis, the global market has been divided into five sections Asia-Pacific, North America, South America, Europe and Middle East & Africa.
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Regional Analysis:
Potato chips have a large scale in the salty snack category, with consumption levels varying greatly across countries worldwide. Due to the rapid rise of contemporary distribution channels such as supermarkets and hypermarkets, Asia-Pacific was the fastest-growing region. Changes in lifestyles, technical advancements, greater investment in the region’s developed countries, and taste preferences contribute to the potato chips industry’s growth. The increasing popularity of snack foods in Asian nations has forced regional competitors to adopt strategic developments to acquire a competitive advantage in the potato chips market.
The potato chips market in Asia-Pacific nations is also predicted to increase due to product and packaging innovation tactics.
Industrial News:
Due to the desire for novel flavours of potato chips in the local market, local businesses in Singapore are releasing them. In the Asia-Pacific region, this factor is boosting the potato chips market.
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