Factors Driving Potato Chips Demand Globally
Demand for potato chips continues to rise significantly worldwide with the emerging trend of westernization of food and consumption patterns. Moreover, a growing economy, a rise in middle-class population and increasing urbanization are other factors. Besides, with the increase of infrastructure development such as metro stations, cinema halls, airports and others, the demand is anticipated to rise further in the developing countries across the globe
Worldwide Potato Chips Industry is likely to grow with a CAGR of 3.92% from 2020-2028
Based on the product, the global potato chips market is segmented into; Plain sand flavoured chips. Moreover, the flavoured segment is estimated to be the fastest-growing segment due to the factors such as choice and availability of flavour and growing demand in the young population inclination towards taste. In the coming years, the development of newer flavours to meet the taste bents of diverse consumers is the answer to surviving in the global potato chips market
COVID-19 Impact on Potato Chips Market Globally
In 2019, the outbreak of COVID-19 had a significant impact on Global Potato Chips Market. One of the biggest reasons for the decline in the market amidst COVID-19 is the empty grocery shelves shown due to supply chain hurdles. Moreover, despite the disturbances in the supply chain of potatoes, the extorted lockdown beyond the world and widespread work from home scenario actively supported the at-home food consumption and extension in snack stocks, which, in turn, augmented the demand for potato chips in 2020. Hence, the COVID-19 pandemic resulted in the generation of opportunities for numerous private players to arise in the markets to purvey the inflated demand for potato chips
Online Retailing Category is expected to be the fastest Expanding Segment
In this report, we have studied the global potato chips market by distribution Channel into Supermarket/Hypermarket, Convenience Stores and Others. Due to the availability of bulk purchase discounts, the rapid expansion in the number of food stores, top quality chips at preferred rates, and the low danger of bad debts. The Super Market category holds the most significant share. Due to factors such as the availability of a wide selection of flavours of potato chips and crisps, quick accessibility, and easy cost comparison across various types of chips, the Online Retailing category is expected to be the fastest expanding segment over time
Asia-Pacific was the fastest expanding market for the Potato Chips Industry
Based on Geography, the consumption levels for potatoes chips vary extensively across regions across the globe and have a massive scale in the salty snacks’ category. Change in lifestyles, technological improvements, increased investment in developed countries of the region, and a taste preference contributes to the rise of the potato chips industry. Similarly, Asia-Pacific is expected to be the fastest expanding for the Industry and thereon, supported by surge incomes in developing countries such as India and China, younger population, and a choice for western lifestyles
Global Potato Chips Market Size was US$ 32.2 Billion in 2020
Notwithstanding, Potato Chips Industry is very large and is dominated mainly by multiple manufacturers. The global potato chips market is highly imploding with numerous small and large manufacturers who compete in terms of prices and quality. In our report, some of the leading players operating in the market studied are General Mills, Kellogg’s Company, The Kraft Heinz Company and PepsiCo Inc
This report “Global Potato Chips Market by Product type (Plain Chips & Flavored Chips), Distribution Channel (Super Market/Hyper Market, Convenience Stores, Others), Region (North America, Europe, Asia-Pacific’s, ROW), Company (General Mills, Kellogg’s Company, The Kraft Heinz Company, PepsiCo Inc.)” provides comprehensive details about Potato Chips Industry Globally
Product Type - Market breakup from 2 viewpoints
1. Plain Chips
2. Flavored Chips
Distribution Channel - Market breakup from 3 viewpoints
1. Supermarket/Hypermarket
2. Convenience Stores
3. Others
Region - Market breakup from 4 viewpoints
1. North America
2. Europe
3. Asia-Pacific
4. Rest of World
All companies have been covered into 3 viewpoints
- Overviews
- Recent Developments
- Revenues
Company Analysis
1. General Mills
2. Kellogg’s Company
3. The Kraft Heinz Company
4. PepsiCo Inc.
Table of Contents
Companies Mentioned
- General Mills
- Kellogg’s Company
- The Kraft Heinz Company
- PepsiCo Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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