Research And Markets released a report detailing the growth in the global potato chips market, beginning at $33.3 billion in 2022, and estimated to reach $40 billion by 2028. According to PRNewswire, the global potato chips market has reached a substantial size of $33.3 billion in 2022, and it is projected to exhibit a steady compound annual growth rate (CAGR) of 3% during the period 2023-2028, ultimately reaching $40.0 billion by 2028.
The growth in the global potato chips market can be attributed to several factors.
First, the convenience of potato chips as a quick snack or side dish of a meal makes them quite popular, especially for busy people.
Additionally, there are abundant raw materials for potato chips worldwide, ensuring a consistent supply and efficient production planning. Developing countries are also driving the global potato chips' market, with Westernization of food consumption patterns, economic growth, a burgeoning middle-class population, and urbanization fueling consumption.
Lastly, the increasing global health consciousness is leading potato chip manufacturers to produce healthier options, such as reduced fat, calories, and cholesterol. Products that are gluten-free, non-GMO verified, and made with natural ingredients are gaining popularity.
The global potato chips market has already reached a size of $33.3 billion in 2022. Over the analysis period of 2023-2028, researchers expect this market to grow at a 3% compound annual growth rate (CAGR) and eventually reach around $40 million in 2028. Potato chips have secured their place as one of the most beloved snacks across the globe. The airtight packaging, processing, and preservation techniques used for potato chips help protect their taste, texture, and color, making them a popular worldwide quick and satisfying snack option.
Research and Markets, the source of this report, is the world's largest market research store. They provide data and insights for over 450 clients and 800 different industries and markets. Founded in 2002 and headquartered in Dublin, Ireland, Research and Markets offer a diverse range of data and information covering various industries.