APAC Region Will Create Strong Growth Opportunities for the Global Potato Chips Market from 2016-2020, Reports Technavio

LONDON--()--The global potato chips market is expected grow at a CAGR of 4.42% during the forecast period, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global potato chips market for 2016-2020. Based on distribution channel, the market is segmented into the following: supermarket or hypermarket, convenience store, independent retailer, and others.

Technavio’s research study segments the global potato chips market into the following regions:

  • Americas
  • Europe
  • APAC
  • MEA

Americas: largest market for potato chips

The potato chips market in the Americas is growing steadily. The acceptance of quick meals such as burgers and sandwiches is one of the major factors driving the market in the Americas. Chips are widely accepted and consumed as a favorite combination with burgers and sandwiches. Also, the busy lifestyle of people leads to the demand for snacks such as potato chips in the region. Supermarkets and hypermarkets accounted for 77% of the total sales of potato chips in the US in 2015.

Some potato chips are available in flavors unique to Canada, such as ketchup and “all-dressed” flavors. Canadian consumers prefer BBQ-flavored hickory sticks and potato chips. One of the popular brands and flavors launched in 2015 is Ruffles all-dressed flavor, which has garnered consumer interest in the Americas for its unique Canadian flavor. In April 2014, Lay's Canada announced the return of its Do Us a Flavour contest, which invites fans across the country to submit their flavor ideas to be the next great potato chip flavor. “The rising number of flavors and increasing demand for quick snacks are expected to contribute to the market demand during the forecast period,” says Arushi Thakur, one of Technavio’s industry experts for research on food sector.

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Potato chips market in Europe

In Europe, countries such as the UK and the Netherlands are the major contributors to the potato chips market in terms of imports and consumptions. The savory snacks market in Europe was valued at USD 26.77 billion in 2015 and is expected to reach USD 34.62 billion by 2020. The consumption of savory snacks, including potato chips, varies from country to country in Europe.

The savory snacks market in the UK was valued at around USD 5.65 billion in 2015. There is a growing demand for frozen potato chips, private labels, and numerous varieties from the UK, boosting the overall potato chips market in Europe. Private labels accounted for 22% of the packaged food market in Europe in 2015.

Potato chips market in APAC

The market in APAC has been experiencing strong growth over the last few years, and the same growth is expected to continue during the forecast period as well. India, China, and South Korea are the major contributors to the growth of the market in APAC. An increase in disposable income and busy lifestyle are the two factors driving the market in APAC. “In addition, the potato chips market in APAC has benefited from localization of flavors in Japan as consumers prefer buying local flavors available in their country. However, compared to cookies and candy, Chinese still consume a relatively small amount of potato chips. Therefore, there is huge potential for market growth in China,” states Arushi.

Potato chips market in MEA

An increase in disposable income and busy lifestyle are the major two factors boosting the potato chips market in MEA. It is expected that consumers' spending on food in the Middle East will reach USD 110 billion by 2020. Consumers' spending on food in the UAE alone was USD 21.3 billion in 2013 and is expected to increase to USD 25.1 billion by 2016.

In countries such as Saudi Arabia, Egypt, Turkey, Jordan, Bahrain, and Qatar, PepsiCo's Frito-Lay division holds the major share of the market. Notion Group, a snacks manufacturer, expanded its manufacturing facilities in Dubai and Saudi Arabia in 2013 to fulfill the rising demand for chips and chocolates. The company is experiencing a huge demand for its products from other Muslim countries because its products have Halal certification.

The top vendors in the global potato chips market highlighted in the report are:

  • Calbee Foods
  • Herr
  • Intersnack Group
  • PepsiCo
  • Snyder's-Lance
  • UTZ Quality Foods

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global potato chips market is expected grow at a CAGR of 4.42% during the forecast period, according to Technavio’s latest report.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com