The global potato chips market to grow at a CAGR of 4.42% during the period 2016-2020.
Global Potato Chips Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend which is helping to boost market growth is new product offerings. Innovation in flavors is helping the market grow consistently and introduce new consumer who likes to experiment new flavors. Ridges, a product offering of Popchips, for example, comes with a structure which makes it easy to drive through the dips. Moreover, they have a bigger surface area leading to bolder flavors.
According to the report, a key growth driver is the availability of different varieties and flavors. Most leading vendors have introduced a multitude of flavors and variants of potato chips. Pepsi offers its potato chips in a wide array of flavors such as BBQ, hot sauce, ketchup, lightly salted, ripples, old bay, red hot, and many others. Herr's offerings, original and aged cheddar, have sparked consumer interest due to their healthy features and uniqueness. Under its range of baked potato crisps, it offers two flavors which it launched in 2013 including sweet potato and jalapeno baked crisps. The chips sold by PepsiCo range from baked original salted to sizzling barbecue-flavor potato chips.
Further, the report states that one challenge that could hamper market growth is the threat of substitutes. Consumers have a variety of options available in the market and can shift from one product to another. Moreover, consumers are price-sensitive and lack loyalty for a particular brand.