Global Potato Chips and Crisps Market Size USD 42.68 Billion By 2030 | CAGR of 4.25%

Introduction

Thin slices of baked or deep-fried potato are potato chips or crisps. These are among the world's most popular treats. They are available in both unflavored and flavored varieties. The increased demand for ready-to-eat snack foods is the key factor driving the market's global expansion. In addition, the growing demand for snack goods is expected to drive the market's growth in the upcoming years. In addition, continual R&D innovation by the manufacturers is anticipated to have a beneficial impact on the development of the market.

Market Dynamics

Successive Demand for Snack Products Drives the Global Market

Consumers' food choices are influenced by various circumstances, including their changing lifestyles, shifting dietary habits, and the availability of convenience foods. Potato chips and crisps are a popular snack that originated in the West and swiftly expanded to other regions. The established "three-meals-a-day" concept is no longer applicable due to the increase in hectic lives. The general populace has developed snacking habits, especially millennials and Generation Z. To sate their desires until their next meal; customers search for various snack options. Increased urbanization and the growing desire for an on-the-go snack among people with busy schedules are driving up demand for snack foods like potato chips and crisps.

According to statistics, 94% of people in the UK regularly consume potato chips. The Western world started the global habit of eating potato chips and crisps, which swiftly expanded to other regions. The market is increasing primarily due to how popular everyday snacking products like potato chips and crisps are. Crisps and potato chips have been available on the need for a very long time. Since manufacturers in this industry are constantly innovating, there is a massive selection of potato chips and crisps. Customers now have additional choices, broadening the product's appeal among all snack foods.

Expanding Online Sales Creates Tremendous Opportunities

Sales of crisps and potato chips are distributed through more than just stores. Additionally, potato chips and crisps can be purchased online or through other non-store methods. Grocery delivery websites have improved the customer experience by streamlining and streamlining the procedure. Customers can choose their desired delivery windows with ease. As a result, items that satisfy the needs of the consumers are delivered on time. Online grocery shopping is becoming more popular among Gen-Z consumers worldwide.

The most technologically adept generation, Gen-Z, is willing to pay more for online services like same-day goods delivery. Additionally, several significant online grocery providers, including Walmart Inc. and Amazon.com, Inc., and several regional players, are boosting global sales of potato chips and crisps through an online channel. In addition, most people have gone toward online sales out of convenience since the COVID-19 pandemic. The expansion of online grocery shopping infrastructure globally is a significant driver in the growth of the online grocery sector.

Regional Analysis 

North America is the most significant revenue contributor and is anticipated to grow at a CAGR of 4.40% over the projection period. The busy lifestyle of the local populace is predicted to increase demand for convenient foods and ready-to-eat snacks, which will spur the growth of the North American potato chips and crisps market during the forecast period. To support the development of the North American potato chips and crisps market throughout the projection period, several producers in the area are focusing on developing unique kinds that provide consumers with a wide choice of flavors, tastes, and textures of chips. The market for potato chips and crisps in North America will grow more swiftly than anticipated over the projected period due to leading manufacturers' heavy emphasis on promotional activities to increase consumer awareness of introducing new products.

Asia-Pacific is anticipated to increase at a CAGR of 4.60% during the projection period. The rising trend of people buying snack goods like potato chips and crisps supports the expected growth of the Asia-Pacific potato chips and crisps market. The Asia-Pacific potato chips and crisps market is growing due to rising packaged food consumption in developing countries like China and India. Important potato chip and crisp makers find that the Asia-Pacific market offers tremendous opportunities. The manufacturers are introducing new products to capture a competitive market share in the region. The enormous growth of online groceries is anticipated to be one of the significant factors influencing the estimated development in potato chips and crisps market sales.

Key Highlights

• The global potato chips and crisps industry was valued at USD 29,351.20 million in 2022. It is projected to reach USD 42,688.45 million by 2031, growing at a CAGR of 4.25% during the forecast period (2023-2031).
• Based on type, the global potato chips and crisps market is bifurcated into flavored and plain. The flavored segment is the major contributor to the market and is estimated to grow at a CAGR of 4.30% during the forecast period.
• Based on category, the global potato chips and crisps market is bifurcated into conventional and organic. The conventional segment is the major contributor to the market and is estimated to grow at a CAGR of 4.15% during the forecast period.
• Based on the distribution channel, the potato chips and crisps market is bifurcated into store-based and non-store-based. The store-based segment is the major contributor to the market and is estimated to grow at a CAGR of 4.35% during the forecast period.
• North America is the major revenue contributor and is expected to grow at a CAGR of 4.40% during the forecast period.

Competitive Players

1. PepsiCo Inc.
2. Kellogg Company
3. Burts Potato Chips Ltd
4. Calbee Inc.
5. Utz Quality Foods Inc.
6. Great Lakes Potato Chip Co

Recent Developments

• April 2024 - Pringles and Crocs created the ideal munching companion. They released a number of limited-edition items from the "Pringles X Crocs" collaboration, which included the USD 100 boots shown above in sizes for both men and women.
• December 2023 - Goldfish® introduced THE NEW Goldfish Crisps as their next great food innovation. Goldfish Crisps are an enticing snack that combines the best parts of Goldfish with chips. They are always cooked in the recognizable Goldfish form and are light and airy. Goldfish Crisps are a whole new and delicious snack experience.

Segmentation

1. By Type
   1. Flavored
   2. Salted
   3. Plain
2. By Variant
   1. Fried
   2. Baked
3. By Category
   1. Conventional
   2. Organic
4. By Distribution Channel
   1. Supermarkets
   2. Specialty Stores
   3. Convenient Stores
   4. Online Market