The global market for potato snacks has a value of US$ 92.31 billion in 2023. The global potato snacks market is expected to grow at a CAGR of 3.1% from 2023 to 2033, reaching a value of USD 125.04 billion by 2033, according to a new report issued by Persistence Market Research.
The growth of the market is being driven by a number of factors, including rising disposable incomes, increasing population, large and growing young population, urbanization, and rising demand from the developing regions.
Potato snacks are a diverse category of snack foods derived from potatoes. They include chips, crisps, fries, wedges, and other savory potato-based snacks. These snacks are favored for their flavor, texture, and convenience.
Market Overview
The global potato snacks market is witnessing substantial expansion due to factors such as urbanization, hectic lifestyles, and a growing culture of on-the-go eating. Potato snacks have become an integral part of the global snacking landscape.
The global potato snacks market is experiencing steady growth driven by changing consumer preferences, snackification trends, and innovation in snack varieties. This report provides an extensive analysis of market dynamics, trends, growth drivers, challenges, and future prospects.
Market Drivers
- Rising disposable incomes: The increasing disposable incomes of consumers in developing and developed countries are leading to an increase in the demand for processed foods, such as potato snacks.
- Increasing population: The growing population is also driving the growth of the potato snacks market. As the population grows, so does the demand for food, including snacks.
- Large and growing young population: The large and growing young population is another major driver of the potato snacks market. Young people are more likely to snack than older people, and they are also more likely to experiment with new flavors and varieties of snacks.
- Urbanization: The trend of urbanization is also contributing to the growth of the potato snacks market. Urbanites are more likely to snack than rural dwellers, and they are also more likely to buy processed foods, such as potato snacks.
Market Trends
- Increasing demand for flavored potato snacks: There is a growing demand for flavored potato snacks, such as those with barbecue, sour cream and onion, and nacho cheese flavors. This is due to the increasing popularity of these flavors among consumers.
- Rising popularity of organic and gluten-free potato snacks: There is a growing demand for organic and gluten-free potato snacks among health-conscious consumers. This is due to the perception that these snacks are healthier than traditional potato snacks.
- Increasing use of innovative packaging: Manufacturers are increasingly using innovative packaging for potato snacks, such as resealable bags and pouches. This is to ensure that the snacks stay fresh and crisp for longer.
Source: GlobeNewswire. Full report here
Cover image: Credit Werner Weisser from Pixabay
