Fried Potato Chips Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Fried Potato Chips Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The fried potato chips market is projected to register a CAGR of 6.76% during the forecast period 2022-2027.

Despite the disruptions in the potato supply chain, the lockdown caused by COVID-19 and extended work-from-home scenario actively supported at-home food and snack consumption, which boosted the demand for potato chips. The COVID-19 pandemic has created chances for many new private entrepreneurs to enter the market and meet the soaring demand for potato chips.

The pandemic has also hastened the transition to a more digital society and generated changes in online shopping habits that are likely to last. As a result, internet sales of potato chips are likely to increase rapidly.

Fried potato chips are majorly enjoyed by consumers in different demographics across the world, especially by the millennials. Thus, the manufacturers are focusing on ethnic flavors to expand their business in foreign countries and meet the demand from consumers with different taste pallets. The players in the market are experimenting and introducing new flavors to suit consumer demands. These innovations are expected to drive the fried potato chips market.

Due to changing lifestyles, consumers are opting for convenient food options for on-the-go consumption, which is influencing per capita expenditure on savory snack products, especially potato chips. Busier lifestyles and longer working hours have propelled consumers to shift from elaborate luncheons and meals to desk snacks and packaged foods, thereby driving the sales of potato chips. Moreover, the easy availability of a variety of savory snack products and an increasingly strong distribution network of key players worldwide are encouraging consumers to purchase savory snack products. The modern distribution channels, such as supermarkets, hypermarkets, and online retail stores, encourage consumers to buy larger pack sizes to decrease their trips to the stores and achieve more value for their money. Thus, such factors also propel the demand for fried potato snacks.

United States is considered the highest consuming nation for fried potato chips in the world. The rising number of flavors and surging demand for quick snacks are projected to contribute to the market during the forecast period. To meet the varying tastes and preferences of American consumers, potato chip manufacturers are responding to consumer demand for flavored choices, offering a wide variety of options such as cheddar and sour cream, barbeque, sweet and spicy, ketchup, and cheese. In addition, fried potato chips with reduced fats are increasing in demand. Moreover, the high snack consumption in the region, coupled with the increasing demand for on-the-go snack options, is majorly driving the market in the country.

The fried potato chips market is highly fragmented, with many organized and unorganized players in the market. With the rising demand for potato chips and dynamic shifts in the consumption pattern of global consumers, companies are trying to innovate their portfolios by launching newer flavors and expanding themselves across the world. Some of the major players in the fried potato chips market are Kettle Foods Inc., ITC Limited, PepsiCo Inc., Herr's Foods Inc., and Burts Potato Chips Ltd.

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