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Market Synopsis:Potato chips is one of the most easily available snacks in the market that appeals to consumers belonging to all age groups. Although the market has already penetrated the target segment, it is anticipated to attract a larger consumer base in the years to come. Also, the rising demand for convenience food in conjunction with a sedentary lifestyle is expected to augment the potato chips market over the next couple of years.
The Global Savory Snacks Market is witnessing a boom fueled by the changes in food patterns of the masses. These changes in consumer behavior pattern are expected to have a favorable impact on the expansion of the peripheral markets, which has been assessed by Market Research Future (MRFR). According to the revelations made by MRFR’s study report, the Global Potato Chips Market is expected to exhibit a CAGR of 6.3% during the forecast period 2017 to 2023.
Flavor innovation is one of the key areas of focus for the market players. In order to capitalize on the market growth, the industry leaders are emphasizing on the introduction of new flavors to satiate the taste buds of the consumers and gain an edge over competitors. In addition, the emphasis is also placed on the packaging of the product. Investments are projected to increase in packaging for attracting the consumers. It is expected to have a positive influence on the revenue acceleration of the market participants over the next few years.
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Competitive Dashboard:
The prominent players studies in this MRFR report on potato chips market are-
• PepsiCo, Inc. (U.S.)
• Diamond Foods, Inc. (U.S.)
• CALBEE, Inc. (Japan)
• Herr Foods Inc. (U.S.)
• Intersnack Group (Germany)
• Lorenz Bahlsen Snack-World Group (Germany)
• Snyder’s-Lance (U.S.)
Industry News:
In April 2019, Vlasic, an American brand for pickles, has announced the launch of a range of snacks including pickle flavored potato chips to Bigs Vlasic Dill Sunflower Seeds.
In March 2019, PrimoHoagies, a United States east coast-based, fast casual restaurant chain, revealed its plan of introducing Italian hoagie-flavored, potato chips by the end of this year.
In January 2019, Potato supplier Albert Bartlett has announced the launch of its branded chilled Rooster Homestyle Chips at UK retailer Sainsbury.
Regional Analysis:
The Global Potato Chips Market, by region, has been segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). North America is presently holding the maximum share of the market and is projected to retain its prominence over the assessment period. The efforts directed towards the production oh healthier potato chips are anticipated to augment the regional market in the upcoming years. Asia Pacific is poised to hold the second spot and maintain it through the forecast period. Increasing population in conjunction with rising purchasing power is expected to have a favorable impact on the growth of the potato chips market in the region.
Market Segmentation:
The Global Potato Chips Market has been divided into Flavor, Product type, Specialty Food Type, Distribution channel, and Region.
By Flavor, the Global Potato Chips Market has been segmented into salt & pepper, barbecue, cheddar & sour cream, classic potato chips, cheese & onion, spicy jalapeno, and others. Among these, the salt & pepper segment is expected to maintain its dominant position over the assessment period.
By Product Type, the Potato Chips Market has been segmented into salted, chili, plain, flavored, and others. The salted and chili segments are expected to dominate the growth trajectory of the market in Asia Pacific over the next couple of years.
By Specialty Food Type, the Global Potato Chips Market has been segmented into gluten-free, GMO- free, vegetarian, kosher, organic, and others.
By Distribution Channel, the Potato Chips Market has been segmented into supermarket/hypermarket, convenience store, e-commerce, and others.
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