The global potato snacks market is expected to grow at a 4.4% CAGR in terms of value, reaching a market worth of around US$ 124.2 billion by 2031, according to Persistence Market Research. In terms of sales of potato snacks, estimates show that rising markets across all regions are growing rapidly. However, it is anticipated that through 2031, Europe would account for more than 20% of the worldwide market value share for potato snacks. By value in 2021, consumption of potato snacks worldwide represented 0.5% to 0.8% of the global snack market.
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The global potato snacks market grew at a 2.9% annual rate from 2016 to 2020. The growing snacking habits of customers and the availability of diverse potato-based snack flavours are the main market drivers for potato snacks. These potato snacks are also available in the form of munchies, nibbles, and other time-saving convenience foods, making them a great substitute for other types of snacks for consumers.
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What are the Factors Restraining Potato Snacks Demand?
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- Although the popularity of potato snacks is growing at a very fast pace, negative influence of junk food is posing a threat to the potato snacks marketplace. Junk foods are presumed to be bad for health and lead to various health problems.
- Potato processing products are high in fat and calories, which tends to increase the level of cholesterol in the body. One ounce of plain potato chips contains 10 grams of fats and 154 calories.
- Besides, fried potato snacks are responsible for weight gain. Increasing weight and heart ailments are among the common health problems across the world, and consumption of crispy potato chips is linked with these problems. Therefore, health concerns over consumption of junk food are negatively affecting the potato processing market.
Competitive Landscape
Key potato snack producers are inclined toward innovation, research & development, and expansion to obtain potato snacks with fine-quality. Manufacturers are striving and investing heavily to enhance their operations and innovation capabilities.
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- In January 2019, Kraft Heinz completed the acquisition of primal kitchen, one of the top companies manufacturing healthy snacks and different food products. The acquisition will help the company in strengthening its position in the U.S. food & beverages market.
- In Dec 2018, Emsland Group announced its strategic partnership with Poland-based IMPAG Group. This partnership enables the reorganization of the sales structure of Emsland Group in Poland.
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Potato Snacks Market Industry Research by Category
Type:
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- Chips & Shoestrings
- Dehydrated
- Frozen
- Canned Potatoes
- Others
Application:
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- Ready-to-Cook Products
- Prepared Meals
- Snacks
Distribution Channel:
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- Potato Snacks for Retail
- Potato Snacks for Foodservice
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