About Potato Chips
The process of making potato chips involves potato slices being cut into thin slices that are deep-fried, baked, kettle-cooked, or popped until crunchy. Consumers across the globe tend to purchase potato chips more than any other snacks, as they are ready-to-eat and stomach-filling. And increasing snacking by consumers has also helped the market growth over the years. Hence, the potato chip category is more relevant than ever, in terms of snacks.
Technavio’s analysts forecast the global potato chips market to grow at a CAGR of 4.58% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global potato chips market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Potato Chips Market 2017-2021
Technavio recognizes the following companies as the key players in the global potato chips market: Calbee, Intersnack Group, Kellogg, and PepsiCo.
Other Prominent Vendors in the market are: Arca Continental, Burts Potato Chips, Haldiram Foods International, Hain Celestial Group, Herr Foods, ITC, Old Dutch Foods, and The Lorenz Bahlsen Snack-World.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Innovative product offerings. Manufacturers of potato chips are tapping on the heavy demand for health foods by offering chips made from healthy ingredients. They, often, promote their products with health claims. The demand for functional and non-GMO ingredients is high due to the rising cases of obesity, diabetes, gluten allergy, and other maladies.”
According to the report, one of the major drivers for this market is Changing taste preferences. New flavors of potato chips are also introduced by manufacturers so as to expand the consumer base. The major flavors in which potato chips are offered around the world are roasted/toasted, barbeque, spice, and beef. The flavor is an important component of potato chips as major industry players try to differentiate on the basis of flavor. Barbeque is the predominant flavor in North America and European regions. The demand for this flavor is slowly picking up in Asia Pacific and is expected to grow moderately over the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Price fluctuations of potato. In recent years, the widening gap between demand and supply, has increased the raw material costs substantially. Any increase in the price of raw materials, such as corn; potatoes; and nuts, not only increases the manufacturing cost but also leads to reduced profit margins for vendors. This factor, and the thirst to remain competitive on the market, influence manufacturers to experiment with poor-quality substitutes. In addition, suppliers of raw materials have the power to adjust the price of their products at different competitive prices.
Calbee, Intersnack Group, Kellogg, PepsiCo, Arca Continental, Burts Potato Chips, Haldiram Foods International, Hain Celestial Group, Herr Foods, ITC, Old Dutch Foods, and The Lorenz Bahlsen Snack-World.
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