What's next for the potato chip industry?

The global potato chips market is expected to steadily grow over the coming years, according to an analysis by Data Bridge Market Research.

The Global Potato Chips Market Research report, which contains analysis and insights of key factors influencing the industry, found potato chips had gained momentum in recent years and will continue to follow the wider rise in demand for snacks globally.

Data Bridge projected a CAGR of 4.40% for the forecast period rising from US$22.10 billion (AU$29.4 billion) in 2020 to US$31.18 billion (AU$41.3 billion) by 2028.

Increasing personal disposable income and the emerging trend of westernisation of food consumption patterns in addition to growing economies will all contribute to the industry’s steady increase, the report said.

An increase in the number of organised retail stores and growth of the organised retail sector are other important factors acting as a potato chips market growth determinant.

“Introduction of several flavour variants and high demand for convenience food will further create lucrative growth opportunities for the potato chips market,” the report said.

The introduction of healthier alternatives such as low-fat and low-sodium chips, and growth and expansion of e-commerce industry, especially in the developing economies, could also contribute to a rise in market value.

“However, intense competition from other healthier snack alternatives in the market will pose a major challenge to the growth of potato chips market. Rising health consciousness among the population will further derail the potato chips market growth rate. Shift in consumption patterns and fluctuation in price of raw materials could also dampen the market growth rate.”

For further details and information about how to obtain the full report, visit Data Bridge Market Research.

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