Longer shelf life and ease of storage of canned and frozen potato snacks boosting their demand among individuals leading busy lifestyles, says Fact.MR.

ROCKVILLE, MD, UNITED STATES, June 7, 2024 /EINPresswire.com/ -- The global potato snack market is estimated to account for a valuation of US$ 93.11 billion in 2024. Worldwide demand for potato snacks is projected to increase at a CAGR of 3% through 2034. Market expansion is being driven by various factors, such as a burgeoning youth population, rapid urbanization, and increasing demand for on-the-go snacks, especially in developing regions.

Potato snacks encompass chips, crisps, fries, wedges, and other savory potato-based treats. These snacks are popular for their delightful flavor, satisfying texture, and convenient consumption. Potato chips have become a beloved snack worldwide. The Western world kick-started the global trend of munching on potato chips (also known as crisps), and this habit swiftly spread to other regions.

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Sales of potato snacks are primarily being fueled by the immense popularity of everyday snacking products such as chips and crisps. These savory treats have been a staple for a very long time, satisfying cravings and providing that delightful crunch. As manufacturers in this industry continue to innovate, there’s now an extensive array of potato chips and crisps available to consumers. With so many choices, the appeal of these snacks continues to broaden.

Key Takeaways from Market Study

The global potato snack market is on a growth trajectory, projected to expand at a compound annual growth rate (CAGR) of 3% through 2034. In 2024, global sales of potato snacks are estimated to be around US$ 93.11 billion, reflecting the robust demand for these popular snacks. By the end of the forecast period in 2034, the market is expected to reach a substantial value of US$ 126.12 billion. Within this broad market, chips and shoestrings are significant contributors, anticipated to account for 29.25% of the market share in 2024, indicating their enduring popularity among consumers. This sector's growth is underpinned by continuous product innovations and the rising trend of snack consumption worldwide.

Regionally, the North American potato snack market is forecasted to grow at a CAGR of 2.6% through 2034, underscoring its steady expansion driven by high consumer demand and well-established snack food industries. Meanwhile, East Asia is emerging as a significant market, projected to account for 25.7% of the global market share by 2034, highlighting the region's increasing appetite for potato snacks. This growth is fueled by changing lifestyles, urbanization, and growing disposable incomes in East Asian countries. The dynamic regional markets, along with strong performance in specific product segments, illustrate the broad and sustained appeal of potato snacks globally.

“Increasing urbanization and busier lifestyles driving global demand for potato snacks for their satisfying texture and delightful flavor. Popularity of potato snacks among the youth is contributing to market growth,” says a Fact.MR analyst.

Booming Potato Snack Markets in China and the United States

China represents a highly lucrative market for potato snack manufacturers, driven by its vast population, economic growth, and shifting consumer preferences. With over a billion potential customers, the market size is enormous, bolstered by an expanding middle class and increasing disposable income. The growing demand for convenient snacks is a significant opportunity for manufacturers. Western influences are also shaping Chinese tastes, leading to a rising interest in diverse and innovative potato snack options. Rapid urbanization and busier lifestyles further enhance the appeal of on-the-go snacks in China.

In the United States, potato snack market trends align with the fast-paced lifestyle of consumers, resulting in a preference for convenient and ready-to-eat snacks. The versatility of potatoes enables a wide range of options, from traditional chips to innovative products. Snacking as a social activity has boosted demand for flavorful and shareable options. The market has seen a surge in healthier and premium potato snacks, catering to a health-conscious consumer base. This combination of convenience, variety, and evolving preferences drives the increasing demand for potato snacks in the U.S.

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Market Developments

Leading manufacturers of potato snacks are Aviko B.V., Emsland Group, PepsiCo, Limagrain Ingredients, and Utz Brands Inc.

In 2022, Utz Brands Inc. introduced two new potato chip varieties as part of its limited-time-only offerings. These unique chips were created in collaboration with Grillo's Pickles, featuring an innovative flavor inspired by the classic Dill Pickle.

In 2022, Walkers, a premium potato crisp brand from the United Kingdom, introduced a collection of special flavors in celebration of the Queen's jubilee. The newly launched flavors by the company featured spit-roast pork and apple sauce, along with baked cheese and sweet honey.

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